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The committee rejects sweeping proposals for reform, such as statutory caps on the size of libel damages.
Some states, like California, Michigan and Nevada, have statutory caps in property tax increases, which mean the market value of single family homes almost always exceeds the assessed tax values, except in a major downturn.
Another factor that may lead to a free-for-all when Congress considers the budget is that for the first time in more than a decade, there will be no statutory caps on discretionary spending and no restrictions on tax cuts and entitlements.
Alcoa was the only major company to give testimony before Congress in support of legislation proposed by Senators John McCain, Republican of Arizona, and Joseph I. Lieberman, Democrat of Connecticut, that would have imposed statutory caps on total emissions, although DuPont wrote a letter favoring the measure.
Repeat financial fraudsters don't pay relatively paltry -- and therefore painless -- penalties because of statutory caps on such penalties.
By that logic, they can't blame Republicans for causing a shutdown if they're "just following the statutory caps" that Democrats voted for in the Budget Control Act.
Similar(52)
Its debt, however, exceeded $24 billion too close for comfort to its statutory cap of $30 billion.
Four House Democrats have introduced a bill to eliminate the statutory cap on the public debt.
Families of the victims will each be limited to $100,000, Virginia's statutory cap on damage claims against the state.
There may be an introduction of a compensation cap on successful discrimination claims, which is presently unlimited (unlike unfair dismissal claims which does have a statutory cap).
In 2011, he helped draft the Cut, Cap, and Balance Act, which called for big and immediate reductions in spending, a statutory cap of 19.9percentnt of G.D.P. on future outlays, and a balanced-budget amendment to the Constitution.
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