H.R.4262 - CAP the DEBT Act111th Congress (2009-2010)
Summary: H.R.4262 — 111th Congress (2009-2010)
Introduced in House (12/10/2009)
Control America's Purse-strings to Deliver a Better Tomorrow Act or the CAP the DEBT Act - Amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives and in the Senate to consider any bill, joint resolution, amendment, or conference report increasing the statutory limit on the public debt if there is any other matter in such measure.
Requires a two-thirds recorded vote of Members in the House and a roll call vote of at least two-thirds of the Members of the Senate before legislation increasing the statutory limit on the public debt may be considered as passed or agreed to in either chamber.
Permits a successful appeal from the ruling of the Chair in the Senate on such prohibition, but only by an affirmative roll call vote of two-thirds of its Members.
Repeals Rule XXVIII (Statutory Limit on Public Debt) of the Rules of the House, and known as the "Gephardt Rule," providing for mandatory adjustment of the statutory limit on the public debt to conform to a budget resolution.