Javascript is not enabled.

Javascript must be enabled to use this site. Please enable Javascript in your browser and try again.

National Debt Glossary: Understanding the Gramm-Rudman-Hollings Act Skip to content

Your pain isn't like anyone else's, and science is homing in on better treatments. Read about the newest ways to break pain's grip.

 
National Debt Glossary

Gramm-Rudman-Hollings

The popular name of the 1985 Balanced Budget and Emergency Deficit Control Act, so named for its sponsors at the time: Sens. Phil Gramm (R-Texas), Warren Rudman (R-N.H.) and Ernest F. Hollings (D-S.C.).

The act, a mechanism for reducing the federal deficit, set declining deficit targets for the federal government and established an automatic enforcement mechanism called sequestration.

Gramm-Rudman-Hollings has been amended several times, most significantly by the 1990 Budget Enforcement Act and the 1997 Balanced Budget Act.

SOURCE: U.S. Government Accountability Office

See also: Balanced budget

 

Join the Discussion

0 | Add Yours

Please leave your comment below.

You must be logged in to leave a comment.

GO TO THIS ARTICLE