The Gramm–Rudman–Hollings Balanced Budget and Emergency Deficit Control Act of 1985 and the Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 (both often known as Gramm–Rudman) were the first binding spending constraints on the federal budget. After enactment, these Acts were often referred to as "Gramm-Rudman-Hollings I" and Gramm-Rudman-Hollings II) after U.S. Senators Phil Gramm (R-Texas), Warren Rudman (R-New Hampshire), and Fritz Hollings (D-South Carolina), who were credited as their chief authors. Provisions of Acts The term "budget sequestration" was first used to describe a section of the Gramm–Rudman–Hollings Deficit Reduction Act of 1985. The Acts aimed to cut the United States federal budget deficit. This deficit is the amount by which expenditures by the federal government exceed its revenues each year and was at the time the largest in history in dollar terms. The Acts provided for automatic sp
La Gram-Rudman-Hollings Balanced Budget and Emergency Deficit Control Act de 1985 y la Gram-Rudman-Hollings Balanced Budget and Emergency Deficit Control Reaffirmation Act de 1987 (ambos a menudo conocidos como Gramm-Rudman) fueron las primeras restricciones de gasto vinculantes en el presupuesto federal. Después de la promulgación, estas leyes fueron a menudo referidas como "Gramm-Rudman-Hollings I" y Gramm-Rudman-Hollings II) después de los senadores estadounidenses Phil Gramm (R-Texas), Warren Rudman (R-New Hampshire), y Fritz Hollings (D-South Carolina), quienes fueron acreditados como sus autores principales.