Date: August 2, 2011
Subject: Debt Limit Increase
Description: A bill that allowed a debt increase of up to $2.5 trillion with no spending reduction required in Fiscal Year 2012. The bill also set up a "supercommittee" of twelve members of Congress that would meet in secret to negotiate a deficit reduction of $1.2 trillion over ten years. The bill also requires a "sequestration" or automatic reduction of $1.2 trillion over ten years if no other agreement is reached by 2013.
Result: Motion Agreed to, 74-26
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