The CAP Act

The CAP Act

The Commitment to American Prosperity Act, the “CAP Act,” S. 245, would, for the first time, set an across-the-board, binding cap on all federal spending. The fiscal straitjacket created by the CAP Act would  result in $5.1 trillion less in spending over the next 10 years based upon current spending levels or $7.3 trillion under an alternative assumption of future policy.

(1) Put in place a 10-year glide path to cap all spending – discretionary and mandatory – to a declining percentage of the country’s gross domestic product, eventually bringing spending down from the current level, 24.7 percent of GDP, to the 40-year historical level of 20.6 percent, and

(2) If Congress fails to meet the annual cap, require the Office of Management and Budget to make evenly distributed, simultaneous cuts throughout the federal budget to bring spending down to the pre-determined level. Only a two-thirds vote in both houses of Congress could override the binding cap, and

(3) For the first time, eliminate the deceptive “off-budget” distinction for Social Security – providing a complete and accurate assessment of all federal spending.

Senate sponsors of the CAP Act include Bob Corker (R-Tenn.), Claire McCaskill (D-Mo.), Lamar Alexander (R-Tenn.), Kelly Ayotte (R-N.H.), Richard Burr (R-N.C.), Saxby Chambliss (R-Ga.), Mike Crapo (R-Idaho), John Hoeven (R-N.D.), Jim Inhofe (R-Okla.), Johnny Isakson (R-Ga.), Ron Johnson (R-Wis.), Mark Kirk (R-Ill.), Jon Kyl (R-Ariz.), Joe Lieberman (ID-Conn.), Joe Manchin (D-W.V.) and John McCain (R-Ariz.).

Representatives Jim Cooper (D-TN-5) and Jimmy Duncan (R-TN-2) introduced a companion version of the bill in the House, which is cosponsored by Reps. Diane Black (R-TN-6), Marsha Blackburn (R-TN-7), Scott DesJarlais (R-TN-4), Stephen Fincher (R-TN-8), Chuck Fleischmann (R-TN-3), Jim Renacci (R-OH-16), and Phil Roe (R-TN-1).

Links to bill language and a one page summary of the CAP Act are below.

CAP Act Videos

Corker: CAP Act "Puts Us on a Glide Path to Fiscal Sanity"

Corker Discusses Federal Budget Negotiations

Corker Calls for Passage of CAP Act at Budget Reform Conference

Corker Stresses Urgency for Long-Term Spending Cuts

Corker Delivers Floor Speech on the CAP Act

Corker Introduces CAP Act to Dramatically Cut Spending Over 10 Years

Fox News Interview: Corker Says: To Reduce Spending, Put Congress in a Straitjacket

On the Radio

  • 02-02-11 Interview with Knoxville's Hallerin Hill

2010 Debt Presentation

In early August 2010, Senator Corker began crisscrossing Tennessee to talk about Washington’s unsustainable spending habits that are driving the country into dangerous levels of debt.

The following *video is an excerpt of a debt presentation delivered August 18, 2010 to a meeting of the Chattanooga Chamber of Commerce.

*Please note: data presented in this video reflects information available as of August 18, 2010. Some figures have since changed.

Show Hide
Associated Image

Iran Nuclear Agreement Review Act of 2015

(read more)