,,ii #aacth ,,congress #ast ,session ,s4 #dc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,january #bb 7legislative day1 ,january #c71 #bjac ,mr4 ,portman 7for himself1 ,mr4 ,enzi1 ,mr4 ,chambliss1 ,ms4 ,ayotte1 ,mr4 ,grassley1 ,mr4 ,vitter1 ,mr4 ,flake1 ,mr4 ,johanns1 ,mr4 ,corker1 ,mr4 ,hoeven1 ,mr4 ,thune1 ,mr4 ,cornyn1 ,mr4 ,lee1 and ,mr4 ,johnson of ,wisconsin7 introduced the following bill2 which was read twice and referred to the ,committee on the ,budget ,a ,,bill ,to require that any debt limit increase be balanced by equal spending cuts over the next decade4 #a4 ,short title ,this ,act may be cited as the ,dollar-for-,dollar ,deficit ,reduction ,act4 #b4 ,amendment to title #ca 7a7 ,in general ,subchapter ,i of chapter #ca of title #ca1 ,united ,states ,code1 is amended by inserting after section #caja;,a the following3 #caja;,b4 ,debt limit control 7a7 ,declaration of a debt limit warning 7#a7 ,in general ,in the event of a near breach of the public debt limit established by section #caja1 the ,secretary of the ,treasury shall issue a debt limit warning to the ,committee on ,finance of the ,senate and the ,committee on ,ways and ,means of the ,house of ,representatives that shall include a determination as to when extraordinary measures may be necessary in order to prolong the funding of the ,united ,states ,government4 7#b7 ,definitions ,in this subsection3 7,a7 ,extraordinary measures ,the term extraordinary measures means measures that may be taken by the ,secretary of the ,treasury in the event of a breach of the debt limit by the ,united ,states to prolong the function of ,united ,states ,government in the absence of a debt limit increase4 7,b7 ,near breach ,the term near breach means the point at which the ,secretary of the ,treasury determines that the ,united ,states ,government will reach the statutorily prescribed debt limit within #fj calendar days notwithstanding the implementation of extraordinary measures4 7b7 ,presidential submission of debt limit legislation 7#a7 ,savings recommendations from the ,president ,any formal ,presidential request to increase the debt limit under this section shall include the amount of the proposed debt limit increase and be accompanied by proposed legislation to reduce spending over the sum of the current and following #aj years by an amount equal to or greater than the amount of the requested debt limit increase4 ,net interest savings may not be counted towards spending reductions required by this paragraph4 7#b7 ,calculation ,the spending savings under paragraph 7#a7 shall be calculated against a budget baseline consistent with section #beg of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe4 ,this baseline shall exclude the extrapolation of any spending that had been enacted under an emergency designation4 4 7b7 ,subchapter analysis ,the table of sections for chapter #ca of title #ca1 ,united ,states ,code1 is amended by inserting after the item for section #caja;,a the following3 #caja;,b4 ,debt limit control4 4 #c4 ,congressional requirement to restrain spending while raising the debt limit 7a7 ,in general ,title ,,iii of the ,congress and ,budget ,act of #aigd is amended by inserting at the end the following3 #caf4 ,debt limit increase point of order 7a7 ,in general 7#a7 ,point of order ,except as provided in subsection 7b71 it shall not be in order in the ,senate or the ,house of ,representatives to consider any bill1 joint resolution1 amendment1 motion1 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 #aj fiscal years4 ,net interest savings may not be counted towards spending reductions required by this paragraph4 7#b7 ,components of net spending reduction 7,a7 ,calculation ,the savings resulting from the proposed spending reductions under paragraph 7#a7 shall be calculated by the ,congressional ,budget ,office against a budget baseline consistent with section #beg of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe4 ,this baseline shall exclude the extrapolation of any spending that had been enacted under an emergency designation4 7,b7 ,availability ,the ,senate and the ,house of ,representatives may not vote on any bill1 joint resolution1 amendment1 motion1 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 #bd hours4 7,c7 ,prohibit timing shifts ,any provision that shifts outlays or revenues from within the #aj-year window to outside the window shall not count towards the budget savings target for purposes of this subsection4 7b7 ,senate supermajority waiver and appeal 7#a7 ,waiver ,in the ,senate1 subsection 7a77#a7 may be waived or suspended only by an affirmative vote of three-fifths of the ,members1 duly chosen and sworn4 7#b7 ,appeal ,an affirmative vote of three-fifths of the ,members of the ,senate1 duly chosen and sworn1 shall be required to sustain an appeal of the ruling of the ,chair on a point of order raised under subsection 7a77#a74 4 7b7 ,conforming amendment ,the table of contents set forth in section #a7;b7 of the ,congressional ,budget and ,impoundment ,control ,act of #aigd is amended by inserting after section #cae the following new item3 ,sec4 #caf4 ,debt limit increase point of order4 4