[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4825 Introduced in House (IH)]
112th CONGRESS
2d Session
H. R. 4825
To amend the Congressional Budget Act of 1974 to establish a point of
order to prohibit the extension of the statutory debt limit unless a
concurrent resolution on the budget has been agreed to and is in
effect, Federal spending is cut and capped, and a balanced budget
amendment to the constitution has been sent to the States for
ratification, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 26, 2012
Mr. Sullivan (for himself, Mr. Terry, Mr. Ross of Florida, and Mr.
Flores) introduced the following bill; which was referred to the
Committee on Rules, and in addition to the Committee on the Budget, for
a period to be subsequently determined by the Speaker, in each case for
consideration of such provisions as fall within the jurisdiction of the
committee concerned
_______________________________________________________________________
A BILL
To amend the Congressional Budget Act of 1974 to establish a point of
order to prohibit the extension of the statutory debt limit unless a
concurrent resolution on the budget has been agreed to and is in
effect, Federal spending is cut and capped, and a balanced budget
amendment to the constitution has been sent to the States for
ratification, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Congressional Accountability in
Budgeting and Spending Act''.
SEC. 2. POINT OF ORDER AGAINST CONSIDERATION OF DEBT LIMIT EXTENSION.
(a) In General.--Title III of the Congressional Budget Act of 1974
is amended by adding at the end the following new section:
``SEC. 316. POINT OF ORDER AGAINST CONSIDERATION OF EXTENSION OF
STATUTORY DEBT LIMIT.
``(a) Point of Order Against Consideration of Extension of
Statutory Debt Limit.--It shall not be in order in the House of
Representatives or the Senate to consider any bill or joint resolution,
or amendment thereto or conference report thereon, to extend the
statutory debt limit unless--
``(1)(A) in the case of fiscal year 2013, the concurrent
resolution on the budget for that fiscal year has been agreed
to and is in effect for the fiscal year during which such
measure is being considered and provides for an allocation
under section 302(a) of new discretionary budget authority for
fiscal year 2013 at a level not to exceed $1.027 trillion
(excluding emergency spending and Overseas Contingency
Operations); or
``(B) in the case of any subsequent fiscal year, a
concurrent resolution on the budget has been agreed to and is
in effect for the fiscal year during which such measure is
being considered;
``(2) before the year referred to in paragraph (1), the
budget submitted by the President to the Congress under section
1105(a) of title 31, United States Code, for any fiscal year
includes a proposed budget for the Government that within 10
fiscal years would be in balance and for which--
``(A) total outlays do not exceed total receipts;
and
``(B) total outlays do not exceed 21.7 percent of
the estimated gross domestic product of the United
States for the calendar year ending before the
beginning of such fiscal year;
``(3) the Rules of the House of Representatives and the
Standing Rules of the Senate require the approval of two-thirds
of the Members, duly chosen and sworn, to increase Federal
income tax rates;
``(4) there is a requirement that the statutory debt limit
may not be raised under any circumstance while the funding for
the Government is being carried out by a continuing resolution;
``(5) the Rules of the House of Representatives and the
Standing Rules of the Senate prohibit the consideration of any
measure deeming that a concurrent resolution on the budget has
been agreed to; and
``(6) the House of Representatives and the Senate have
agreed to an amendment to the Constitution of the United States
requiring a balanced budget for each fiscal year.
``(b) Macroeconomic Impact Analysis by Congressional Budget
Office.--(1) The Director of the Congressional Budget Office shall
prepare for each major bill or resolution reported by any committee of
the House of Representatives or the Senate for which the Director
prepares an analysis under section 402 and submit to such committee a
macroeconomic impact analysis of the costs which would be incurred in
carrying out such bill or resolution in the fiscal year in which it is
to become effective and in each of the 4 fiscal years following such
fiscal year, together with the basis for such analysis. The analysis
shall be included in the report accompanying such bill or resolution.
``(2) The macroeconomic impact analysis referred to in paragraph
(1) shall describe the potential economic impact of the applicable
major bill or resolution on major economic variables, including real
gross domestic product, business investment, the capital stock,
employment, interest rates, and labor supply. The analysis shall also
describe the potential fiscal effects of the bill or resolution,
including any estimates of revenue increases or decreases resulting
from changes in gross domestic product. To the extent practicable, the
analysis should use a variety of economic models in order to reflect
the full range of possible economic outcomes resulting from the bill or
resolution. The analysis (or a technical appendix to the analysis)
shall specify the economic and econometric models used, sources of
data, relevant data transformations, and shall include such explanation
as is necessary to make the models comprehensible to academic and
public policy analysts.
``(c) Waivers.--Subsection (a) may be waived or suspended in the
House of Representatives or the Senate only by the affirmative vote of
two-thirds of its Members, duly chosen and sworn.
``(d) Appeals.--An affirmative vote of two-thirds of the Members,
duly chosen and sworn, shall be required in the Senate to sustain an
appeal of the ruling of the Chair on a point of order under subsection
(a).''.
(b) Conforming Amendment.--The table of contents set forth in
section 1(b) of the Congressional Budget and Impoundment Control Act of
1974 is amended by inserting after the item relating to section 315 the
following new item:
``Sec. 316. Point of order against consideration of extension of
statutory debt limit.''.
SEC. 3. DEFINITIONS.
Section 3 of the Congressional Budget and Impoundment Control Act
of 1974 is amended by adding at the end the following new paragraphs:
``(12) The term `macroeconomic impact analysis' means--
``(A) an estimate of the changes in economic
output, employment, interest rates, capital stock, and
tax revenues expected to result from enactment of the
proposal;
``(B) an estimate of revenue feedback expected to
result from enactment of the proposal; and
``(C) a statement identifying the critical
assumptions and the source of data underlying that
estimate.
``(13) The term `major bill or resolution' means any bill
or resolution if the gross budgetary effects of such bill or
resolution for any fiscal year in the period for which an
estimate is prepared under section 316 is estimated to be
greater than .25 percent of the current projected gross
domestic product of the United States for any such fiscal year.
``(14) The term `budgetary effect', when applied to a major
bill or resolution, means the changes in revenues, outlays,
deficits, and debt resulting from that measure.
``(15) The term `revenue feedback' means changes in revenue
resulting from changes in economic growth as the result of the
enactment of any major bill or resolution.''.
SEC. 4. SEQUESTRATION AND DIRECTIVE TO THE COMMITTEE ON THE BUDGET OF
THE HOUSE OF REPRESENTATIVES.
(a) Sequestration.--
(1) Submissions of spending reduction.--Not later than
April 27, 2012, the House committees named in paragraph (2)
shall submit recommendations to the Committee on the Budget of
the House of Representatives. After receiving those
recommendations, such committee shall report to the House a
reconciliation bill carrying out all such recommendations
without substantive revision.
(2) Instructions.--
(A) Committee on agriculture.--The Committee on
Agriculture shall submit changes in laws within its
jurisdiction sufficient to reduce the deficit by
$8,200,000,000 for the period of fiscal years 2012 and
2013; by $19,700,000,000 for the period of fiscal years
2012 through 2017; and by $33,200,000,000 for the
period of fiscal years 2012 through 2022.
(B) Committee on energy and commerce.--The
Committee on Energy and Commerce shall submit changes
in laws within its jurisdiction sufficient to reduce
the deficit by $3,750,000,000 for the period of fiscal
years 2012 and 2013; by $28,430,000,000 for the period
of fiscal years 2012 through 2017; and by
$96,760,000,000 for the period of fiscal years 2012
through 2022.
(C) Committee on financial services.--The Committee
on Financial Services shall submit changes in laws
within its jurisdiction sufficient to reduce the
deficit by $3,000,000,000 for the period of fiscal
years 2012 and 2013; by $16,700,000,000 for the period
of fiscal years 2012 through 2017 and by
$29,800,000,000 for the period of fiscal years 2012
through 2022.
(D) Committee on the judiciary.--The Committee on
the Judiciary shall submit changes in laws within its
jurisdiction sufficient to reduce the deficit by
$100,000,000 for the period of fiscal years 2012 and
2013; by $11,200,000,000 for the period of fiscal years
2012 through 2017; and by $39,700,000,000 for the
period of fiscal years 2012 through 2022.
(E) Committee on oversight and government reform.--
The Committee on Oversight and Government Reform shall
submit changes in laws within its jurisdiction
sufficient to reduce the deficit by $2,200,000,000 for
the period of fiscal years 2012 and 2013; by
$30,100,000,000 for the period of fiscal years 2012
through 2017; and by $78,900,000,000 for the period of
fiscal years 2012 through 2022.
(F) Committee on ways and means.--The Committee on
Ways and Means shall submit changes in laws within its
jurisdiction sufficient to reduce the deficit by
$1,200,000,000 for the period of fiscal years 2012 and
2013; by $23,000,000,000 for the period of fiscal years
2012 through 2017; and by $53,000,000,000 for the
period of fiscal years 2012 through 2022.
(b) Directive to the Committee on the Budget of the House of
Representatives To Replace the Sequester Established by the Budget
Control Act of 2011.--
(1) Submission.--In the House, the Committee on the Budget
shall report to the House a bill carrying out the directions
set forth in paragraph (2).
(2) Directions.--The bill referred to in paragraph (1)
shall include the following provisions:
(A) Replacing the sequester established by the
budget control act of 2011.--The language shall amend
section 251A of the Balanced Budget and Emergency
Deficit Control Act of 1985 to replace the sequester
established under that section consistent with this
bill.
(B) Application of provisions.--The bill referred
to in paragraph (1) shall include language making its
application contingent upon the enactment of the
reconciliation bill referred to in subsection (a).
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