[House Report 112-388]
[From the U.S. Government Publishing Office]
112th Congress Report
HOUSE OF REPRESENTATIVES
2d Session 112-388
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PROVIDING FOR CONSIDERATION OF THE BILL (H.R. 3581) TO AMEND THE
BALANCED BUDGET AND EMERGENCY DEFICIT CONTROL ACT OF 1985 TO INCREASE
TRANSPARENCY IN FEDERAL BUDGETING, AND FOR OTHER PURPOSES
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February 6, 2012.--Referred to the House Calendar and ordered to be
printed
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Mr. Woodall, from the Committee on Rules,
submitted the following
R E P O R T
[To accompany H. Res. 539]
The Committee on Rules, having had under consideration
House Resolution 539, by a record vote of 6 to 3, report the
same to the House with the recommendation that the resolution
be adopted.
SUMMARY OF PROVISIONS OF THE RESOLUTION
The resolution provides for consideration of H.R. 3581, the
Budget and Accounting Transparency Act of 2011, under a
structured rule. The resolution provides one hour of general
debate equally divided and controlled by the chair and ranking
minority member of the Committee on the Budget. The resolution
waives all points of order against consideration of the bill.
The resolution makes in order as original text for the purpose
of amendment the amendment in the nature of a substitute
consisting of the text of Rules Committee Print 112-13, and
provides that it shall be considered as read. The resolution
waives all points of order against the amendment in the nature
of a substitute made in order as original text. The resolution
makes in order only those amendments printed in this report.
Each such amendment may be offered only in the order printed in
this report, may be offered only by a Member designated in this
report, shall be considered as read, shall be debatable for the
time specified in this report equally divided and controlled by
the proponent and an opponent, shall not be subject to
amendment, and shall not be subject to a demand for division of
the question in the House or in the Committee of the Whole. The
resolution waives all points of order against the amendments
printed in this report. Finally, the resolution provides one
motion to recommit with or without instructions.
EXPLANATION OF WAIVERS
Although the rule waives all points of order against
consideration of the bill, the Committee is not aware of any
points of order. The waiver is prophylactic in nature.
Although the rule waives all points of order against the
amendment in the nature of a substitute made in order as
original text consisting of Rules Committee Print 112-13, the
Committee is not aware of any points of order. The waiver is
prophylactic in nature.
COMMITTEE VOTES
The results of each record vote on an amendment or motion
to report, together with the names of those voting for and
against, are printed below:
Rules Committee record vote No. 186
Motion by Ms. Slaughter to report an open rule. Defeated:
3-6.
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Majority Members Vote Minority Members Vote
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Ms. Foxx........................................ Nay Ms. Slaughter..................... Yea
Mr. Bishop of Utah.............................. Nay Mr. McGovern...................... Yea
Mr. Woodall..................................... Nay Mr. Hastings of Florida........... Yea
Mr. Nugent...................................... Nay
Mr. Scott of South Carolina..................... Nay
Mr. Dreier, Chairman............................ Nay
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Rules Committee record vote No. 187
Motion by Mr. Bishop of Utah to report the rule. Adopted:
6-3.
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Majority Members Vote Minority Members Vote
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Ms. Foxx........................................ Yea Ms. Slaughter..................... Nay
Mr. Bishop of Utah.............................. Yea Mr. McGovern...................... Nay
Mr. Woodall..................................... Yea Mr. Hastings of Florida........... Nay
Mr. Nugent...................................... Yea
Mr. Scott of South Carolina..................... Yea
Mr. Dreier, Chairman............................ Yea
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SUMMARY OF THE AMENDMENTS MADE IN ORDER
1. Jackson Lee (TX): Would shorten from one year to six
months after enactment the requirement that CBO and OMB to
report to Congress on the feasibility of applying fair value
concepts to budgeting for the costs of Federal insurance
programs. (10 minutes)
2. Dold (IL), Quigley (IL): Would require the OMB Director
to prepare all budgets submitted to the President according to
both accrual-basis and cash-basis GAAP accounting standards.
(10 minutes)
3. Tonko (NY): Would establish a Commission of budgeting
and accounting experts to provide recommendations to Congress
regarding the best measure to accurately account for the costs
of Federal credit programs. Would allow the Commission to delay
and or supersede the provisions of the bill. (10 minutes)
TEXT OF AMENDMENTS MADE IN ORDER
1. An Amendment To Be Offered by Representative Jackson Lee of Texas or
Her Designee, Debatable for 10 Minutes
Page 20, strike lines 3 through 13 and insert the following
new section:
SEC. 201. CBO AND OMB STUDIES RESPECTING BUDGETING FOR COSTS OF FEDERAL
INSURANCE PROGRAMS.
Within six months after the date of enactment of this Act,
the Directors of the Congressional Budget Office and the Office
of Management and Budget shall each prepare a study and make
recommendations to the Committees on the Budget of the House of
Representatives and Senate as to the feasibility of applying
fair value concepts to budgeting for the costs of Federal
insurance programs.
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2. An Amendment To Be Offered by Representative Dold of Illinois or His
Designee, Debatable for 10 Minutes
At the end of the bill, add the following new title:
TITLE IV--PRESIDENT'S BUDGET SUBMISSION
SEC. 401. PREPARATION OF THE BUDGET.
(a) The President.--Section 1105(a) of title 31, United
States Code, is amended--
(1) by redesignating the second paragraph (37) as
paragraph (39); and
(2) by adding at the end the following new paragraph:
``(40) A summary of how the use of accrual accounting
procedures would affect the estimated expenditures,
appropriations, and receipts of the Government in the
fiscal year for which the budget is submitted.''.
(b) Office of Management and Budget.--The Director of the
Office of Management and Budget shall prepare all of the
budgets submitted to the President according to both accrual
accounting procedures and the cash basis accounting method.
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3. An Amendment To Be Offered by Representative Tonko of New York or
His Designee, Debatable for 10 Minutes
At the end of the bill, add the following new title:
TITLE IV--EFFECTIVE DATE; ESTABLISHMENT OF COMMISSION
SEC. 401. EFFECTIVE DATE; ESTABLISHMENT OF COMMISSION.
(a) Effective Date; Establishment.--The provisions of this
Act are delayed until and may be superseded by the majority
recommendations of a six member commission consisting of the
Director of the Congressional Budget Office, the Director of
the Office of Management and Budget, and four additional non-
congressional members each appointed by the Speaker and
Minority Leader of the House and the Majority and Minority
Leaders of the Senate. Such additional four Members shall have
expertise in budgeting and accounting.
(b) Recommendations.--The recommendations of the commission
shall reflect the best measure to accurately account for the
costs of Federal credit programs, including an analysis of the
fair value, market-based risk estimates, and the discount rates
mandated by the Federal Credit Reform Act of 1990.
(c) Congressional Vote Required.--Such recommendations shall
take effect upon their enactment into law. Congress shall vote
on the recommendations set forth in subsection (b) not later
than 45 days after the date of submission of such
recommendations to the Congress.