,,ii ,calendar ,no4 #bgd #aadth ,,congress #ast ,session ,s4 #bahb ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,october #ai1 #bjae,mr4 ,paul introduced the following bill2 which was read the first time ,october #bj1 #bjae,read the second time and placed on the calendar ,a ,,bill ,to cut1 cap1 and balance the ,federal budget4 #a4 ,short title ,this ,act may be cited as the ,cut1 ,cap1 and ,balance ,act of #bjae4 ,i ,cut #aja4 ,modification of the ,congressional ,budget ,act ,title ,,iii of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #fca et seq47 is amended by adding at the end the following3 #caf4 ,spending limits 7a7 ,in general ,it shall not be in order in the ,house of ,representatives or the ,senate to consider any bill1 joint resolution1 amendment1 or conference report that would cause the spending limits as set forth in this section to be exceeded4 7b7 ,limits ,in this section1 the term spending limits means for fiscal year #bjaf-- 7#a7 #b1hcb1bae1jjj1jjj in new budget authority2 and 7#b7 #b1hhd1ddb1jjj1jjj in outlays4 7c7 ,adjustments ,after the reporting of a bill or joint resolution relating to the global war on terrorism described in subsection 7d71 or the offering of an amendment thereto or the submission of a conference report thereon-- 7#a7 the chair of the ,house or ,senate ,committee on the ,budget may adjust the spending limits provided in this section for purposes of congressional enforcement1 the budgetary aggregates in the concurrent resolution on the budget most recently adopted by the ,senate and the ,house of ,representatives1 and allocations pursuant to section #cjb7;a7 of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #fcc7;a771 by the amount of new budget authority in that measure for that purpose and the outlays flowing therefrom2 and 7#b7 following any adjustment under paragraph 7#a71 the ,house or ,senate ,committee on ,appropriations may report appropriately revised suballocations pursuant to section #cjb7;b7 of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #fcc7;b77 to carry out this subsection4 7d7 ,global war on terrorism ,if a bill or joint resolution is reported making appropriations for fiscal year #bjaf that designates amounts for ,overseas ,contingency ,operations_/,global ,war on ,terrorism for purposes of section #bea7;b77#b77;,a7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ija7;b77#b77;,a771 the allowable adjustments provided for in subsection 7c7 for fiscal year #bjaf shall not exceed #eh1jjj1jjj1jjj in budget authority and the outlays flowing therefrom4 #cag4 ,certain spending limits 7a7 ,in general ,it shall not be in order in the ,house of ,representatives or the ,senate to consider any bill1 joint resolution1 amendment1 or conference report that includes any provision that would cause total spending1 except as excluded in subsection 7b71 to exceed the limits specified in section #caf7;b74 7b7 ,exempt from spending limits ,spending for the following functions is exempt from the limits specified in section #caf 7b73 7#a7 ,social ,security1 function #fej4 7#b7 ,medicare1 function #egj4 7#c7 ,veterans ,benefits and ,services1 function #gjj4 7#d7 ,net ,interest1 function #ijj4 7#e7 ,military personnel accounts within subfunctional category #jea4 4 #ajb4 ,statutory enforcement of spending caps through sequestration ,title ,,iii of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #fca et seq47 is amended by inserting after section #cag1 as added by section #aja of this ,act1 the following3 #cah4 ,enforcement of discretionary and direct spending caps 7a7 ,implementation ,the sequesters shall be implemented as follows3 7#a7 ,discretionary spending implementation ,for the discretionary limits in section #caf1 pursuant to section #bea7;a7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ija7;a77 with each category sequestered separately4 7#b7 ,direct spending implementation 7,a7 ,the sequestration to enforce this section for direct spending shall be implemented pursuant to section #bed of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ijd74 7,b7 ,section #bee of the ,balanced ,budget and ,control ,act of #aihe 7#b ,u4,s4,c4 #ije7 shall not apply to this section1 except that payments for military personnel accounts 7within subfunctional category #jea71 ,,tricare for ,life1 ,medicare 7functional category #egj71 military retirement1 ,social ,security 7functional category #fej71 veterans 7functional category #gjj71 net interest 7functional category #ijj71 and discretionary appropriations shall be exempt4 7b7 ,modification of presidential order 7#a7 ,in general ,at any time after the ,director of the ,office of ,management and ,budget issues a sequestration report under subsection 7a7 and section #cai7;c7 the provisions of section #beh;,a of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ijg;b7 shall apply to the consideration in the ,house of ,representatives and the ,senate of a bill or joint resolution to override the order if the bill or joint resolution1 as enacted1 would achieve the same level of reductions in new budget authority and outlays for the applicable fiscal year as set forth in the order4 7#b7 ,point of order ,in the ,house of ,representatives or ,senate1 it shall not be in order to consider a bill or joint resolution which waives1 modifies1 or in any way alters a sequestration order unless the chair of the ,house or ,senate ,committee on the ,budget certifies that the measure achieves the same levels of reductions in new budget authority and outlays for the applicable year as set forth in the order4 4 ,,ii ,cap #bja4 ,limit on total spending 7a7 ,definitions ,section #bej7;c7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ijj7;c77 is amended-- 7#a7 by striking paragraph 7#d72 7#b7 by redesignating paragraphs 7#e7 through 7#ba7 as paragraphs 7#d7 through 7#bj71 respectively2 and 7#c7 by adding at the end the following3 7#ba7 ,the term ,,gdp1 for any fiscal year1 means the gross domestic product during such fiscal year consistent with ,department of ,commerce definitions4 4 7b7 ,caps ,title ,,iii of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #fca et seq47 is amended adding after section #cah1 as added by section #ajb of this ,act1 the following3 #cai4 ,enforcing ,,gdp outlay limits 7a7 ,enforcing ,,gdp outlay limits ,in this section1 the term ,,gdp outlay limit means an amount1 as estimated by the ,director of the ,office of ,management and ,budget1 equal to-- 7#a7 projected ,,gdp for that fiscal year as estimated by ,,omb1 multiplied by 7#b7 7,a7 #ai4i percent for fiscal year #bjaf2 7,b7 #ai4eb percent for fiscal year #bjag2 7,c7 #ai4ad percent for fiscal year #bjah2 7,d7 #ah4gf percent for fiscal year #bjai2 7,e7 #ah4ch percent for fiscal year #bjbj2 7,f7 #ah percent for fiscal year #bjba2 7,g7 #ah percent for fiscal year #bjba2 7,h7 #ah percent for fiscal year #bjbb2 7,i7 #ah percent for fiscal year #bjbc2 7,j7 #ah percent for fiscal year #bjbd2 and 7,k7 #ah percent for fiscal year #bjbe4 7b7 ,,gdp outlay limit and outlays 7#a7 ,determining the ,,gdp outlay limit ,the ,director of the ,office of ,management and ,budget shall establish in the ,president's budget the ,,gdp outlay limit for the budget year4 7#b7 ,total ,federal outlays ,in this section1 total ,federal outlays shall include all on-budget and off-budget outlays4 7c7 ,sequestration ,the sequestration to enforce this section shall be implemented pursuant to section #bed of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ijd74 7d7 ,exempt programs ,section #bee of the ,balanced ,budget and ,control ,act of #aihe 7#b ,u4,s4,c4 #ije7 shall not apply to this section1 except that payments for military personnel accounts 7within subfunctional category #jea71 ,,tricare for ,life1 ,medicare 7functional category #egj71 military retirement1 ,social ,security 7functional category #fej71 veterans 7functional category #gjj71 and net interest 7functional category #ijj7 shall be exempt4 4 #bjb4 ,enforcement procedures under the ,congressional ,budget ,act of #aigd 7a7 ,enforcement ,title ,,iii of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #fca et seq47 is amended by adding after section #cai1 as added by section #bja of this ,act1 the following3 #cbj4 ,enforcement procedures ,it shall not be in order in the ,house of ,representatives or the ,senate to consider any bill1 joint resolution1 amendment1 or conference report that would cause the most recently reported current ,,gdp outlay limits set forth in section #cai to be exceeded4 4 7b7 ,table of contents ,the table of contents in section #a7;b7 of the ,congressional ,budget and ,impoundment ,control ,act of #aigd is amended by adding after the item relating to section #cae the following3 ,sec4 #caf4 ,spending limits4 ,sec4 #cag4 ,certain spending limits4 ,sec4 #cah4 ,enforcement of discretionary and direct spending caps4 ,sec4 #cai4 ,enforcing ,,gdp outlay limits4 ,sec4 #cbj4 ,enforcement procedures4 4 ,,iii ,balance #cja4 ,requirement that a ,balanced ,budget ,amendment be submitted to ,states 7a7 ,in general ,the ,secretary of the ,treasury shall not exercise the additional borrowing authority in subsequent legislation until the ,archivist of the ,united ,states transmits to the ,states a balanced budget amendment to the ,constitution that-- 7#a7 requires that total outlays not exceed total receipts2 7#b7 contains a spending limitation as a percentage of ,,gdp2 and 7#c7 requires that tax increases be approved by a #b_/c vote in both ,houses of ,congress for their ratification4 7b7 ,point of order ,it shall not be in order in the ,house of ,representatives or the ,senate to consider any bill1 joint resolution1 amendment1 or conference report that would cause the ,secretary of the ,treasury to exercise additional borrowing authority described in subsection 7a7 until such time as the ,archivist of the ,united ,states transmits to the ,states an amendment to the ,constitution described in subsection 7a74 ,october #bj1 #bjae,read the second time and placed on the calendar