Fiscal Responsibility Act (New Zealand), Fiscal Responsibility Act
Fiscal Responsibility Act may refer to: *Tax Equity and Fiscal Responsibility Act of 1982, an Act of the 97th United States Congress *Fiscal Responsibility Act of 2007, a proposed Act of the 110th United States Congress *Fiscal Responsibility Act 2010, an Act of the United Kingdom Parliament * Fiscal Responsibility Act of 2023, an Act of the 118th United States Congress *Fiscal Responsibility and Budget Management Act, 2003 The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) is an Act of the Parliament of India to institutionalize financial discipline, reduce India's fiscal deficit, improve macroeconomic management and the overall management of the pu ...

Tax Equity And Fiscal Responsibility Act Of 1982
The Tax Equity and Fiscal Responsibility Act of 1982 (), also known as TEFRA, is a United States federal law that rescinded some of the effects of the Kemp-Roth Act passed the year before. Between summer 1981 and summer 1982, tax revenue fell by about 6% in real terms, caused by the dual effects of the economy dipping back into recession (the second dip of the "double dip recession") and Kemp-Roth's reduction in tax rates, and the deficit was likewise rising rapidly because of the fall in revenue, and the rise in government expenditures. The rapid rise in the budget deficit created concern among many in Congress. TEFRA was created in order to reduce the budget gap by generating revenue through closure of tax loopholes, introduction of tougher enforcement of tax rules, rescinding some of Kemp-Roth's reductions in marginal personal income tax rates that had not yet gone into effect, and raising some rates, especially corporate rates. TEFRA was introduced November 13, 1981 and was ...
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Fiscal Responsibility Act Of 2007
The Fiscal Responsibility Act of 2007 () was introduced to the United States Congress by Rep. Nathan Deal of on January 16, 2007. The bill, which has eight co-sponsors, was referred to the House Administration Committee and the House Oversight and Government Reform Committee. The bill's purpose is to give members of Congress a personal financial incentive to prevent the federal government from running budget deficits. H.R. 500 is endorsed by the American Conservative Union and Downsize DC. The bill would cut the pay of members of Congress every year the federal government runs a budget deficit. An exception is made for spending that the Director of the Congressional Budget Office determines is directly related to a military conflict lasting over 30 days or in response to a terrorist attack on the United States. The bill, if passed, would take effect no earlier than the 2008 fiscal year. If the federal government is determined by the Director of the Congressional Budget Office ...
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Fiscal Responsibility Act 2010
The Fiscal Responsibility Act 2010 (c.3) is an Act of the Parliament of the United Kingdom that received Royal Assent on 10 February 2010. The Act was repealed by section 10(c) of the Budget Responsibility and National Audit Act 2011 on 23 March 2011. It was first presented (first reading) in the House of Commons on 10 December 2009 and received its third reading on 20 January 2010. It was first read in the House of Lords The House of Lords, also known as the House of Peers, is the Bicameralism, upper house of the Parliament of the United Kingdom. Membership is by Life peer, appointment, Hereditary peer, heredity or Lords Spiritual, official function. Like the ... on 21 January 2010 and received its second and third readings on 10 February 2010. References United Kingdom Acts of Parliament 2010 {{UK-statute-stub ...
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Fiscal Responsibility Act Of 2023
On January 19, 2023, the United States hit its debt ceiling, leading to a debt-ceiling crisis, part of an ongoing political debate within Congress about federal government spending and the national debt that the U.S. government accrues. In response, Janet Yellen, the Secretary of the Treasury, began enacting temporary "extraordinary measures". On May 1, 2023, Yellen warned these measures could be exhausted as early as June 1, 2023; this date was later pushed to June 5. The debt ceiling had been increased multiple times since the 2013 debt ceiling standoff, all without budgetary preconditions attached; the most recent increase was in December 2021. In the 2023 impasse, Republicans proposed cutting spending back to 2022 levels as a precondition to raising the debt ceiling, while Democrats insisted on a "clean bill" without preconditions, as had been the case in raising the ceiling three times during the Donald Trump administration. In the event the government runs out of fund ...
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