Budget Control Act of 2011, S. 365

Signed into law on August 02, 2011, the Budget Control Act reduces federal spending over the next ten years by $917 billion, increases the debt limit to $2.1 trillion, and creates a bi-partisan Joint Select Committee on Deficit Reduction to make proposals for an additional $1.2-1.5 billion in cuts by November 23, 2011.

Read the Federal Budget Control Act 2011…