Congressional Accountability in Budgeting and Spending Act

[AI summary unavailable — showing source text] Congressional Accountability in Budgeting and Spending Act - Amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives or the Senate to consider any legislation to extend the statutory debt limit unless: (1) for FY2013 the concurrent budget resolution has been agreed to and is in effect, providing for an allocation of new discretionary budget authority for FY2013 of no more than $1.027 trillion (excluding emergency spending and Overseas Contingency Operations); (2) for subsequent fiscal years a concurrent budget resolution has been agreed to and is in effect; (3) for any fiscal year before FY2013 the President's budget request proposes a balanced budget within 10 fiscal years in which total outlays do not exceed 21.7% of the prior year's estimated U.S. gross domestic product (GDP); (4) House and Senate Rules require two-thirds approval to increase federal income tax rates and prohibit consideration of any measure deeming that a budget resolution has been agreed to; (5) any raising of the debt limit is prohibited while the government is being funded by a continuing resolution; and (6) Congress has agreed to a balanced budget amendment to the…