,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #eegb  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,april #ah1 #bjah,mr4 
,san=d 7= himself1 ,mr4 ,palm]1 ,mr4    
,gos>1 ,mr4 ,mead[s1 ,mr4 ,des,jarlais1 
,mr4 ,gohm]t1 ,mr4 ,jones1 ,mr4 ,massie1
 & ,mr4 ,gaetz7 introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on !      
,budget1 & 9 addition to ! ,committee on
 ,rules1 = a p]iod to be subsequ5tly    
det]m9$ by ! ,speak]1 9 ea* case =      
consid]ation ( su* provisions z fall )9 
! jurisdiction ( ! committee conc]n$  ,a
 ,,bill  ,to prev5t a fiscal crisis by  
enact+ legislation to balance ! ,f$]al  
budget ?r\gh r$uctions ( discretion>y & 
m&atory sp5d+4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,"o ,p]c5t ,sp5d+  
,r$uction ,act ( #bjah4  #b4            
,congressional f9d+s & purpose  7a7     
,f9d+s ,congress f9ds ! foll[+3  7#a7 ,!
 fiscal crisis fac$ by ! ,f$]al         
,gov]nm5t dem&s imm$iate action4  7#b7  
,! dramatic gr[? 9 sp5d+ & debt 9 rec5t 
ye>s ?reat5s ! economic & national      

security ( ! ,unit$ ,/ates3  7,a7 ,f$]al
 sp5d+ has gr[n f #ah p]c5t ( gross     
dome/ic product 9 #bjja to ne>ly #ba    
p]c5t ( gross dome/ic product 9 #bjag4  
7,b7 ,total ,f$]al debt exce$s          
#ba1cjj1jjj1jjj1jjj & is project$ to    
increase ea* ye> ov] ! next #aj ye>s4   
7,c7 ,)\t action1 ! ,f$]al ,gov]nm5t w  
cont9ue to run massive deficits 9 ! next
 decade & total ,f$]al debt w rise to   
#cc1hjj1jjj1jjj1jjj by #bjbh4  7,d7     
,int]e/ paym5ts on ?is debt w soon rise 
to ! po9t :]e balanc+ ! budget z a matt]
 ( policy is beyond ! rea* ( ,congress4 
7#c7 ,abs5t re=m1 ! gr[? ( ,social      
,security1 ,m$ic>e1 ,m$icaid1 & o!r     
heal?-relat$ sp5d+ w ov]:elm all o!r    
,f$]al programs & consume all project$  
tax rev5ues4  7b7 ,purpose ,! purpose ( 
?is ,act is to address ! fiscal crisis  
by-- 7#a7 act+ quickly to balance !     
,f$]al budget & elim9ate ! p>ade (      
deficits & balloon+ int]e/ paym5ts2     
7#b7 a*iev+ balance by r$uc+ sp5d+ #a   
p]c5t p] ye> until sp5d+ equals project$

 long-t]m rev5ues2 &  7#c7 re=m+        
entitlem5t programs to ensure long-t]m  
fiscal /ability & balance4  #c4         
,e/abli%m5t & en=cem5t ( sp5d+ caps  7a7
 ,outlay caps ,! ,balanc$ ,budget &     
,em]g5cy ,deficit ,control ,act ( #aihe 
7#b ,u4,s4,c4 #ijj et seq47 is am5d$ by 
ins]t+ aft] section #bec ! foll[+3      
#bec;,a4 ,e/abli%+ outlay caps  7a7     
,outlay caps ,9 ?is section1 ! t]m      
outlay cap means3 7#a7 ,fiscal ye> #bjai
 ,= fiscal ye> #bjai1 total outlays     
7less net int]e/ paym5ts7 %all be n m   
?an #c1hbf1jjj1jjj1jjj1 less #a p]c5t4  
7#b7 ,fiscal ye> #bjbj ,= fiscal ye>    
#bjbj1 total outlays 7less net int]e/   
paym5ts7 %all be n m ?an ! am\nt comput$
 "u p>agraph 7#a71 less #a p]c5t4  7#c7 
,fiscal ye> #bjba ,= fiscal ye> #bjba1  
total outlays 7less net int]e/ paym5ts7 
%all be n m ?an ! am\nt comput$ "u      
p>agraph 7#b71 less #a p]c5t4  7#d7     
,fiscal ye> #bjbb ,= fiscal ye> #bjbb1  
total outlays 7less net int]e/ paym5ts7 
%all be n m ?an ! am\nt comput$ "u      

p>agraph 7#c71 less #a p]c5t4  7#e7     
,fiscal ye> #bjbc ,= fiscal ye> #bjbc1  
total outlays 7less net int]e/ paym5ts7 
%all be n m ?an ! am\nt comput$ "u      
p>agraph 7#d71 less #a p]c5t4  7#f7     
,fiscal ye> #bjbd & subsequ5t fiscal    
ye>s  7,a7 ,9 g5]al ,= fiscal ye> #bjbd 
& ea* fiscal ye> !reaft]1 total outlays 
%all be n m ?an #ah p]c5t ( ! gross     
dome/ic product = t fiscal ye>1 z       
e/imat$ by ! ,(fice ( ,managem5t &      
,budget prior to ,m>* ( ! previ\s fiscal
 ye>4  7,b7 ,limitation ,not)/&+        
subp>agraph 7,a71 = any fiscal ye>      
beg9n+ ) fiscal ye> #bjbe1 total        
project$ outlays may n be less ?an total
 project$ outlays = ! prec$+ fiscal ye>4
  7b7 ,seque/ration  7#a7 ,9 g5]al  7,a7
 ,excess sp5d+ ,n lat] ?an #de cal5d>   
days aft] ! beg9n+ ( a fiscal ye>1 !    
,(fice ( ,managem5t & ,budget %all      
prep>e & ! ,presid5t %all ord] a        
seque/ration to elim9ate any excess     
outlay am\nt4  7,b7 ,def9itions  7i7    
,fiscal ye>s #bjai ?r\gh #bjbc ,= ea* ( 

fiscal ye>s #bjai ?r\gh #bjbc & =       
purposes ( ?is subsection1 ! t]m excess 
outlay am\nt means ! am\nt by :i* total 
project$ ,f$]al outlays 7less net int]e/
 paym5ts7 = a fiscal ye> exce$s ! outlay
 cap = t fiscal ye>4  7ii7 ,fiscal ye>  
#bjbd & subsequ5t fiscal ye>s ,= fiscal 
ye> #bjbd & ea* fiscal ye> !reaft] & =  
purposes ( ?is subsection1 ! t]m excess 
outlay am\nt means ! am\nt by :i* total 
project$ ,f$]al outlays = a fiscal ye>  
exce$s ! outlay cap = t fiscal ye>4     
7#b7 ,seque/ration  7,a7 ,,cbo preview  
report ,on ,augu/ #ae ( ea* ye>1 !      
,congressional ,budget ,(fice %all issue
 a seque/ration preview report z        
describ$ 9 section #bed7;c77#d74  7,b7  
,,omb preview report ,on ,augu/ #bj (   
ea* ye>1 ! ,(fice ( ,managem5t & ,budget
 %all issue a seque/ration preview      
report z describ$ 9 section             
#bed7;c77#d74  7,c7 ,f9al report ,on    
,octob] #ca ( ea* ye>1 ! ,(fice (       
,managem5t & ,budget %all issue a f9al  
seque/ration report z describ$ 9 section

 #bed7;f77#c71 :i* %all be accompani$ by
 a ,presid5tial ord] detail+ uni=m sp5d+
 r$uctions equal to ! excess outlay     
am\nt4  7,d7 ,process ,! r$uctions %all 
g5]ally foll[ ! process set =? 9        
sections #bec & #bed1 except z provid$ 9
 ?is section4  7#c7 ,congressional      
action ,if ! ,augu/ #bj report by !     
,(fice ( ,managem5t & ,budget projects a
 seque/ration1 ! ,committee on ! ,budget
 ( ! ,s5ate & ! ,committee on ! ,budget 
( ! ,h\se ( ,repres5tatives may report a
 resolution direct+ committees ( _!     
,h\se to *ange ! exi/+ law to a*ieve !  
sp5d+ r$uctions outl9$ 9 ! ,augu/ #bj   
report necess>y to meet ! outlay limits4
  7c7 ,no exempt programs ,section #bee 
& section #bef %all n apply to ?is      
section or any seque/ration ord] issu$  
"u ?is section1 except t paym5ts = net  
int]e/ 7budget function #ijj7 %all be   
exempt f ! sp5d+ r$uctions "u           
seque/ration4  7d7 ,look back ,if1 aft] 
,novemb] #ad1 a bill result+ 9 outlays =
 ! fiscal ye> 9 progress is enact$ t    

causes excess outlays1 ! excess outlay  
am\nt = ! next fiscal ye> %all be       
increas$ by ! am\nt or am\nts ( t brea*4
  4  7b7 ,con=m+ am5dm5ts to ,,bb$ca    
7#a7 ,seque/ration preview reports      
,section #bed7;c77#d7 ( ! ,balanc$      
,budget & ,em]g5cy ,deficit ,control    
,act ( #aihe 7#b ,u4,s4,c4 #ijd7;c77#d77
 is am5d$ to read z foll[s3  7#d7       
,outlay cap seque/ration reports ,!     
preview reports %all set =? = ! budget  
ye> e/imates = ! foll[+3 7,a7 7i7 ,= ea*
 ( budget ye>s #bjai ?r\gh #bjbc1 total 
project$ outlays 7less net int]e/       
paym5ts71 less "o p]c5t4  7ii7 ,= budget
 ye> #bjbd & ea* subsequ5t budget ye>1 !
 e/imat$ gross dome/ic product = t      
budget ye>4  7,b7 ,! am\nt ( r$uctions  
requir$ "u section #bec;,a4  7,c7 ,!    
seque/ration p]c5tage necess>y to a*ieve
 ! requir$ r$uction "u section #bec;,a4 
4  7#b7 ,f9al seque/ration reports      
,section #bed7;f77#c7 ( ! ,balanc$      
,budget & ,em]g5cy ,deficit ,control    
,act ( #aihe 7#b ,u4,s4,c4 #ijd7;f77#c77

 is am5d$ to read z foll[s3  7#c7       
,outlay caps seque/ration reports ,!    
f9al reports %all conta9 all ! in=mation
 requir$ 9 ! outlay cap seque/ration    
preview reports4 ,9 addition1 ^! reports
 %all conta91 = ! budget ye>1 = ea*     
acc\nt to be seque/]$1 e/imates ( !     
basel9e level ( seque/rable budget>y    
res\rces & result+ outlays & ! am\nt (  
budget>y s\rces to be seque/]$ & result 
9 outlay r$uctions4 ,! reports %all also
 conta9 e/imates ( ! effects on outlays 
on ! seque/ration ( ea* outye> = direct 
sp5d+ programs4  4  7c7 ,en=cem5t ,title
 ,,iii ( ! ,congressional ,budget ,act (
 #aigd 7#b ,u4,s4,c4 #fca et seq47 is   
am5d$ by add+ aft] section #cae !       
foll[+3  #caf4 ,en=cem5t proc$ures  7a7 
,outlay caps ,x %all n be 9 ord] 9 !    
,h\se ( ,repres5tatives or ! ,s5ate to  
consid] any bill1 jo9t resolution1      
am5dm5t1 am5dm5t betwe5 ! ,h\ses1 or    
conf]5ce report t includes any provision
 t w\ld cause ! mo/ rec5tly report$1    
curr5t outlay cap set =? 9 section      

#bec;,a ( ! ,balanc$ ,budget & ,em]g5cy 
,deficit ,control ,act ( #aihe to be    
brea*$ or increas$4  7b7 ,waiv] or      
susp5sion  7#a7 ,9 ! ,s5ate ,!          
provisions ( ?is section may be waiv$ or
 susp5d$ 9 ! ,s5ate only by !           
affirmative vote ( two-?irds ( !        
,memb]s1 duly *os5 & sworn4  7#b7 ,9 !  
,h\se ,! provisions ( ?is section may be
 waiv$ or susp5d$ 9 ! ,h\se (           
,repres5tatives only by a rule or ord]  
propos+ only to waive su* provisions by 
an affirmative vote ( two-?irds ( !     
,memb]s1 duly *os5 & sworn4  7c7 ,po9t (
 ord] protection ,9 ! ,h\se1 x %all n be
 9 ord] to consid] a rule or ord] t     
waives ! application ( p>agraph 7#b7 (  
subsection 7b74  7d7 ,motion ,to susp5d 
,x %all n be 9 ord] = ! ,speak] to      
ent]ta9 a motion to susp5d ! application
 ( ?is section "u clause #a ( rule ,,xv4
  4  #d4 ,con=m+ am5dm5ts ,! table (    
cont5ts set =? 9-- 7#a7 section #a7;b7 (
 ! ,congressional ,budget & ,imp\ndm5t  
,control ,act ( #aigd is am5d$ by ins]t+

 aft] ! item relat+ to section #cae !   
foll[+ new item3  ,sec4 #caf4 ,en=cem5t 
proc$ures4  2  &  7#b7 section #bej7;a7 
( ! ,balanc$ ,budget & ,em]g5cy ,deficit
 ,control ,act ( #aihe is am5d$ by      
ins]t+ aft] ! item relat+ to section    
#bec ! foll[+ new item3  ,sec4 #bec;,a4 
,e/abli%+ outlay caps4  4  #e4          
,effective date ,?is ,act & ! am5dm5ts  
made by ?is ,act %all apply to fiscal   
ye> #bjai & ea* fiscal ye> !reaft]1     
includ+ any reports & calculations      
requir$ = implem5tation 9 fiscal ye>    
#bjai4