,i #aafth ,,congress #b;d ,session ,h4 ,r4 #fhhg ,,in ,,the ,,house ,,of ,,representatives ,may #ae1 #bjbj,mr4 ,curtis 7for himself1 ,mr4 ,gosar1 ,mr4 ,budd1 ,mr4 ,emmer1 ,mr4 ,gohmert1 ,mr4 ,rouzer1 ,mr4 ,stewart1 ,mr4 ,bishop of ,north ,carolina1 ,mr4 ,perry1 and ,mr4 ,wright7 introduced the following bill2 which was referred to the ,committee on the ,budget1 and in addition to the ,committee on ,rules1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to amend the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe to establish a disaster and emergency spending financial offset program1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,deal with the ,debt ,today ,act4 #b4 ,sequestrations to offset disaster and emergency spending for which an adjustment is made 7a7 ,offsetting disaster and emergency spending ,the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ijj et seq47 is amended by inserting after section #bec the following3 #bec;,a4 ,establishing a disaster and emergency spending financial offset program 7a7 ,definitions ,in this section3 7#a7 ,disaster and emergency spending ,the term disaster and emergency spending means funding for any fiscal year as described in section #bea7;b77#b77;,a7 and section #bea7;b77#b77;,d74 7#b7 ,excess disaster and emergency spending ,the term excess disaster and emergency spending means any such spending for which an adjustment is made under the sections referred to in paragraph 7#a7 for any fiscal year4 7#c7 ,base fiscal year ,the term base fiscal year means any fiscal year in which there is excess disaster and emergency spending4 7b7 ,sequestration 7#a7 ,in general 7,a7 ,excess disaster and emergency spending ,within #ae calendar days after ,congress adjourns to end a session there shall be a sequestration to eliminate any excess disaster and emergency spending as set forth in subparagraph 7,b74 7,b7 ,amounts to be sequestered ,the sequestration resulting from the fiscal year described in subparagraph 7,a7 shall be governed by the following schedule3 7i7 ,for the third fiscal year beginning after a base fiscal year1 #e percent of the total excess disaster and emergency spending occurring in that base fiscal year4 7ii7 ,for the fourth fiscal year beginning after a base fiscal year1 #g4e percent of the total excess disaster and emergency spending occurring in that base fiscal year4 7iii7 ,for the fifth fiscal year beginning after a base fiscal year1 #aj percent of the total excess disaster and emergency spending occurring in that base fiscal year4 7iv7 ,for the sixth fiscal year beginning after a base fiscal year1 #ab4e percent of the total excess disaster and emergency spending occurring in that base fiscal year4 7v7 ,for the seventh fiscal year beginning after a base fiscal year1 #ae percent of the total excess disaster and emergency spending occurring in that base fiscal year4 7vi7 ,for the eighth fiscal year beginning after a base fiscal year1 #ae percent of the total excess disaster and emergency spending occurring in that base fiscal year4 7vii7 ,for the ninth fiscal year beginning after a base fiscal year1 #ag4e percent of the total excess disaster and emergency spending occurring in that base fiscal year4 7viii7 ,for the tenth fiscal year beginning after a base fiscal year1 #ag4e percent of the total excess disaster and emergency spending occurring in that base fiscal year4 7#b7 ,sequestration 7,a7 ,,cbo preview report ,on ,august #ae of each calendar year1 the ,congressional ,budget ,office shall issue a sequestration preview report setting forth the total amount of excess disaster and emergency spending for the fiscal year ending during the calendar year of this report4 7,b7 ,,omb preview report ,on ,august #bj of each calendar year1 the ,office of ,management and ,budget shall issue a sequestration preview report setting forth the total amount of excess disaster and emergency spending for the fiscal year ending during the calendar year of this report4 7,c7 ,final report ,on ,october #ca of each calendar year1 the ,office of ,management and ,budget shall issue a final sequestration report equal to the excess1 which shall be accompanied by a ,presidential order detailing uniform spending reductions equal to the excess outlay amount4 7,d7 ,process ,the reductions shall generally follow the process set forth in sections #bec and #bed1 except as provided in this section4 7c7 ,no exempt programs ,section #bee and section #bef shall not apply to this section or any sequestration order issued under this section1 except that payments for net interest 7budget function #ijj7 shall be exempt from the spending reductions under sequestration4 7d7 ,low growth ,at any time that ,,omb determines that real economic growth is projected or estimated to be less than zero for any #b consecutive quarters within a fiscal year1 any sequestration order under this section shall be suspended until projected or estimated growth for a quarter is positive4 4 7b7 ,conforming amendment ,the table of contents set forth in section #bej7;a7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe is amended by inserting after the item relating to section #bec the following new item3 #bec;,a4 ,establishing a disaster and emergency spending financial offset program4 4 #c4 ,repealer ,subsection 7g7 of section #d of the ,statutory ,pay-,as-,you-,go ,act of #bjaj 7#b ,u4,s4,c4 #icc7;g77 7relating to emergency legislation7 is repealed4 #d4 ,effective date ,the amendments made by section #b shall apply to fiscal years beginning at least #ij days after the date of enactment of this ,act4