The phrase "set a cap for" is correct and usable in written English.
You can use it when you are talking about setting a limit or boundary, usually in the context of a particular task. Example sentence: We need to set a cap for the amount of money we can spend on a new computer.
What's more, he has set a cap of $1,000 for each contributor, $1,100 for family members.
Under the threat of legislation by Lewis A. Fidler, a Brooklyn councilman, and G. Oliver Koppell of the Bronx, the P.S.A.L. will set a cap of 105 pitches for one game, according to a person with knowledge of the situation, who spoke on the condition of anonymity because the league had imposed a news blackout until the official announcement.
The Press Association news agency reports: She added that work will start immediately on establishing elected police commissioners, as well as setting a cap for non-European economic migrants.
The chancellor regards his £500 a week on the benefits individual households can succeed as one of his greatest political hits, and now plans to extend the approach by setting a cap for overall benefit spending.
The Climate Change Authority and several other groups have called for the Direct Action policy to be strengthened and expanded by setting a cap for emissions in industries not covered by the ERF (the "safeguards mechanism"), and allowing them to then buy carbon credits from projects that are covered if they go over that cap.
The CEO's salary sets a cap for everyone else.
The Labour party has set a cap on spending for the leadership campaign at £155,000 – equivalent to £1 per member when the figures were recorded at the end of 2008.
But under this proposal, the federal government would set a cap on its spending for other groups that now account for one-third of all Medicaid recipients.
The fact is the chancellor already tried to set a cap with his plans for social security spending in 2010.
