Sec. 3. Congressional requirement to restrain spending while raising the debt limit
342 words·~2 min read·
/bill/115/s/716/is/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Title III of the Congress and Budget Act of 1974 ( 2 U.S.C. 631 et seq.) is amended by inserting at the end the following: Except as provided in subsection (b), it shall not be in order in the Senate or the House of Representatives to consider any bill, joint resolution, amendment, motion, or conference report that increases the statutory debt limit unless the bill contains net spending reductions of an equal or greater amount over the sum of the current and next 10 fiscal years. Net interest savings may not be counted towards spending reductions required by this paragraph. The savings resulting from the proposed spending reductions under paragraph
(1)shall be calculated by the Congressional Budget Office against a budget baseline consistent with section 257 of the Balanced Budget and Emergency Deficit Control Act of 1985. This baseline shall exclude the extrapolation of any spending that had been enacted under an emergency designation. The Senate and the House of Representatives may not vote on any bill, joint resolution, amendment, motion, or conference report that increases the public debt limit unless the cost estimate of that measure prepared by the Congressional Budget Office has been publicly available on the Web site of the Congressional Budget Office for at least 24 hours. Any provision that shifts outlays or revenues from within the 10-year window to outside the window shall not count towards the budget savings target for purposes of this subsection. In the Senate, subsection (a)(1) may be waived or suspended only by an affirmative vote of three-fifths of the Members, duly chosen and sworn. An affirmative vote of three-fifths of the Members of the Senate, duly chosen and sworn, shall be required to sustain an appeal of the ruling of the Chair on a point of order raised under subsection (a)(1). . 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 section 315 the following new item: Sec. 316. Debt limit increase point of order. .
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 3
Congressional requirement to restrain spending while raising the debt limit
Cites 1Cited by 0 across 0 sources