Boehner Bill

AAA

DEFINITION of 'Boehner Bill'

A bill tabled by Speaker of the House John Boehner that aimed to save $917 billion over 10 years through government spending cuts. The Boehner Bill proposed to effect these savings through discretionary spending cuts, and sequestration to enforce them. The Bill also proposed to give the Secretary of the Treasury authority to increase the debt limit by $900 billion upon its enactment.

INVESTOPEDIA EXPLAINS 'Boehner Bill'

The Boehner Bill was the source of high drama in July 2011, as the U.S. moved perilously close to an unprecedented default on its debt. While the House of Representatives passed the Boehner Bill by a 218-210 vote on the evening of July 29, 2011, the U.S. senate defeated it less than two hours later. This political brinksmanship was a contributory factor in Standard & Poor's lowering the U.S. long-term sovereign credit rating to AA+ from AAA on Aug. 5, 2011.

RELATED TERMS
  1. Current Account Deficit

    A measurement of a country’s trade in which the value of goods ...
  2. Budget Deficit

    A status of financial health in which expenditures exceed revenue. ...
  3. Sequestration

    A term adopted by Congress to describe a fiscal policy process ...
  4. Debt Ceiling

    The maximum amount of monies the United States can borrow. The ...
  5. Deficit Hawk

    Slang for someone who wants the government to keep the federal ...
  6. Austerity

    A state of reduced spending and increased frugality in the financial ...
RELATED FAQS
  1. What are austerity measures?

    Austerity measures are attempts to significantly curtail government spending in an effort to control public-sector debt, ... Read Full Answer >>
  2. How does the role of Medicare/Medicaid affect the drugs sector in the U.S.?

    Medicare and Medicaid have enormous influence on the pharmaceutical, or drugs, sector in the United States. For instance, ... Read Full Answer >>
  3. What are the ethical arguments against government subsidies to companies like Tesla?

    The ethical argument behind government subsidies is that they should be put into place to help industries that will, in turn, ... Read Full Answer >>
  4. What do I do if I think an accountant is in violation of the Generally Accepted Accounting ...

    The Financial Accounting Standards Board (FASB) promulgates generally accepted accounting principles (GAAP) in the United ... Read Full Answer >>
  5. How autonomous are special administrative regions?

    When most people think of special administrative regions, or SARs, they are referring to Hong Kong and its relationship with ... Read Full Answer >>
  6. Can a special administrative region declare autonomy?

    Special administrative regions, or SARs, namely Hong Kong and Macau, do not declare autonomy so much as they are granted ... Read Full Answer >>
Related Articles
  1. Economics

    What The National Debt Means To You

    The U.S. deficit seems to grow every year. But how does it actually affect you?
  2. Bonds & Fixed Income

    A Look At National Debt And Government Bonds

    Learn the functions of the U.S. Treasury, and find out how and why it issues debt.
  3. Economics

    Austerity: When The Government Tightens Its Belt

    When a government tightens its belt in tough economic times the entire nation feels the squeeze.
  4. Investing News

    Sequestration: What Will It Do And What Should You Do?

    Learn about the sequester, and possible ways to play it.
  5. Bonds & Fixed Income

    The Risks Of Sovereign Bonds

    Sovereign debt can play an important role in providing international diversification to individual investors.
  6. Economics

    Twin Deficits: Twice The Fun For The U.S

    The U.S. has been running both fiscal and current account deficits for years, but what does it all add up to?
  7. Options & Futures

    Breaking Down The U.S. Budget Deficit

    Find out why this particular piece of national financing gets so much attention from the media and investors.
  8. Budgeting

    Current Account Deficits: Government Investment Or Irresponsibility?

    Deficit can be a sign of trouble for some countries, and of health for others. Find out what it means when more funds are exiting than entering a nation.
  9. Economics

    Global Impact of China's Geopolitical Strategy

    China's geopolitical strategy is shifting the status quo from the Pacific to the Pentagon. Can the U.S. keep pace with Chinese military innovation?
  10. Economics

    3 Possibilities If Sanctions Against Iran Lift

    What would happen if sanctions against Iran were lifted?

You May Also Like

Hot Definitions
  1. Nuncupative Will

    A verbal will that must have two witnesses and can only deal with the distribution of personal property. A nuncupative will ...
  2. OsMA

    An abbreviation for Oscillator - Moving Average. OsMA is used in technical analysis to represent the variance between an ...
  3. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
  4. Unfair Claims Practice

    The improper avoidance of a claim by an insurer or an attempt to reduce the size of the claim. By engaging in unfair claims ...
  5. Killer Bees

    An individual or firm that helps a company fend off a takeover attempt. A killer bee uses defensive strategies to keep an ...
  6. Sin Tax

    A state-sponsored tax that is added to products or services that are seen as vices, such as alcohol, tobacco and gambling. ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!