Report of the Legislation Committee

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This report provides a summary of the energy legislative activities occurring during the 2nd Session of the 112th Congress, from May 1, 2011 through July 1, 2012.

I. BUDGET CONTROL ACT

In August 2011, President Obama signed the Budget Control Act of 2011 (BCA).1 The BCA initially raised the debt ceiling by $900 billion (and allowed the President to raise the debt limit further in incremental steps under certain conditions)2 and mandated a total $2.1 trillion ($900 million in initial cuts and then an additional $1.2 trillion through reduced caps) in deficit reduction between 2012 and 2021.3 The BCA included several parts aimed at reducing the budget deficit. First, the BCA set …