,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #bcgh  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ca1 #bjai,mr4   
,g>dn] 7= himself & ,mr4 ,lee7 introduc$
 ! foll[+ bill2 :i* 0 read twice &      
ref]r$ to ! ,committee on ,homel&       
,security & ,gov]nm5tal ,affairs  ,a    
,,bill  ,to require r$uctions 9 ! direct
 co/ ( ,f$]al regulations t are         
proportional to ! am\nt ( increases 9 ! 
debt ceil+4  #a4 ,%ort title ,?is ,act  
may be cit$ z ! ,r$uc+ ,excessive       
,gov]nm5t ,act ( #bjai or ! ,,reg ,act4 
#b4 ,r$uc+ excessive ,gov]nm5t  7a7     
,def9itions ,9 ?is section--  7#a7 ! t]m
 ag5cy has ! mean+ giv5 ! t]m ,executive
 ag5cy "u section #aje ( title #e1      
,unit$ ,/ates ,code2  7#b7 ! t]m am\nt (
 ! increase 9 ! debt limit means--  7,a7
 ! doll> am\nt ( ! increase 9 ! debt    
limit specifi$ 9 ! ,act increas+ ! debt 
limit2 or  7,b7 9 ! case ( an ,act t    
provides t ! debt limit %all n apply = a
 p]iod & t ! am\nt ( ! debt limit is    
increas$ at ! end ( su* p]iod1 ! am\nt  

by :i* ! ,secret>y ( ! ,treasury        
e/imates ! debt limit %all be increas$  
at ! end ( ! p]iod ( ! susp5sion1 :i* ! 
,secret>y %all submit to ,congress on ! 
date ( enactm5t ( su* an ,act2  7#c7 !  
t]m debt limit means ! limitation impos$
 by section #caja7;b7 ( title #ca1      
,unit$ ,/ates ,code2  7#d7 ! t]m direct 
co/ ( ,f$]al regulation means all co/s  
incurr$ by1 & exp5ditures requir$ (1 !  
,f$]al ,gov]nm5t 9 issu+ & en=c+ ,f$]al 
regulations1 rules1 /atem5ts1 &         
legislation2  7#e7 ! t]m jo9t resolution
 means a jo9t resolution-- 7,a7 report$ 
by ! ,committee on ! ,budget ( ! ,s5ate 
or ! ,h\se ( ,repres5tatives 9          
accordance ) subsection 7d77#c72  7,b7  
:i* does n h a preamble2  7,c7 ! title (
 :i* is z foll[s3 ,jo9t resolution      
relat+ to repeal ( co/ly rules2 &  7,d7 
! matt] aft] ! resolv+ clause ( :i* is z
 foll[s3 ,t ! foll[+ rules %all h no =ce
 or effect3 41 ! blank space be+ fill$ 9
 ) ! li/ ( major rules recomm5d$ to be  
repeal$ "u subsection 7d7 by !          

committees ( ! ,h\se 9 :i* ! jo9t       
resolution is report$2 &  7#f7 ! t]m    
major rule means any rule t has result$ 
9 or is likely to result 9-- 7,a7 an    
annual effect on ! economy (            
#ajj1jjj1jjj or m2  7,b7 a major        
increase 9 co/s or prices = consum]s1   
individual indu/ries1 ,f$]al1 ,/ate1 or 
local gov]nm5t ag5cies1 or geographic   
regions2 or  7,c7 significant adv]se    
effects on competition1 employm5t1      
inve/m5t1 productivity1 innovation1 or  
on ! ability ( ,unit$ ,/ates-bas$       
ent]prises to compete ) =eign-bas$      
ent]prises 9 dome/ic & export m>kets4   
7b7 ,r$uctions 9 regulatory co/ ,n lat] 
?an #fj days aft] ! date on :i* ! debt  
limit is increas$ or a susp5sion ( !    
debt limit takes effect1 ,congress %all 
consid]1 9 accordance ) ! rules "u      
subsection 7e71 legislation elim9at+    
rules t results 9 a r$uction ( ! direct 
co/ ( ,f$]al regulation dur+ !          
#aj-;fiscal-ye> p]iod beg9n+ ) ! next   
full fiscal ye> by n less ?an #ae p]c5t 

( ! am\nt ( ! increase 9 ! debt limit4  
7c7 ,action by ag5cies  7#a7            
,id5tification ( major rules ,if ! am\nt
 ( ! debt limit is increas$ or a        
susp5sion ( ! debt limit takes effect1  
ea* ag5cy %all submit to ! ,s5ate1 !    
,h\se ( ,repres5tatives1 & ! ,comptroll]
 ,g5]al ( ! ,unit$ ,/ates a report      
id5tify+ ea* major rule ( ! ag5cy1 z    
det]m9$ by ! head ( ! ag5cy4  7#b7      
,c]tification by ,,gao ,aft] receipt (  
all reports requir$ "u p>agraph 7#a71 ! 
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all submit to ! ,s5ate & ! ,h\se (     
,repres5tatives a report evaluat+ :e!r  
ag5cies appropriately id5tifi$ major    
rules "u p>agraph 7#a71 includ+ :e!r !  
ag5cies id5tifi$ major rules 9          
accordance ) ,(fice ( ,managem5t &      
,budget ,circul> ,a-#d1 or any successor
 !reto4  7d7 ,action by committees  7#a7
 ,9 g5]al ,ea* committee ( ! ,s5ate & ! 
,h\se ( ,repres5tatives %all submit to !
 ,committee on ! ,budget ( its ,h\se a  
li/ ( ! major rules t--  7,a7 are )9 !  

jurisdiction ( ! committee1 :i* may     
include major rules id5tifi$ 9 ! report 
( an ag5cy "u subsection 7c77#a72 &     
7,b7 ! committee recomm5ds %\ld be      
repeal$4  7#b7 ,consid]ations ,9 det]m9+
 :e!r to recomm5d repeal+ major rules )9
 its jurisdiction1 a committee ( !      
,s5ate or ! ,h\se ( ,repres5tatives %all
 consid]--  7,a7 :e!r ! major rule      
a*iev$1 or has be5 ineffective 9 a*iev+1
 ! orig9al purpose ( ! major rule2  7,b7
 any adv]se effects t c\ld mat]ialize if
 ! major rule is repeal$1 9 p>ticul> if 
^? adv]se effects are ! reason ! major  
rule 0 orig9ally enact$2  7,c7 :e!r !   
co/s ( ! major rule outweigh any b5efits
 ( ! major rule to ! ,unit$ ,/ates2     
7,d7 :e!r ! major rule has become       
obsolete due to *anges 9 te*nology1     
economic conditions1 m>ket practices1 or
 any o!r factors2 &  7,e7 :e!r ! major  
rule ov]laps ) ano!r rule4  7#c7 ,comb9+
 ( recomm5dations ,! ,committee on !    
,budget ( ! ,s5ate & ! ,committee on !  
,budget ( ! ,h\se ( ,repres5tatives1 ^u 

receiv+ recomm5dations f all relevant   
committees "u p>agraph 7#a71 %all report
 to its ,h\se a jo9t resolution c>ry+   
out all su* recomm5dations )\t any      
sub/antive revision4  7e7 ,exp$it$      
proc$ures  7#a7 ,consid]ation 9 ,h\se ( 
,repres5tatives  7,a7 ,placem5t on      
cal5d> ,^u a jo9t resolution be+ report$
 by ! ,committee on ! ,budget ( ! ,h\se 
( ,repres5tatives1 or ^u receipt ( a    
jo9t resolution f ! ,s5ate1 ! jo9t      
resolution %all be plac$ imm$iately on !
 cal5d>4  7,b7 ,proce$+ to consid]ation 
7i7 ,9 g5]al ,x %all be 9 ord]1 n lat]  
?an #fj days aft] ! date on :i* ! debt  
limit is increas$ or a susp5sion ( !    
debt limit takes effect1 to move to     
proce$ to consid] a jo9t resolution 9 ! 
,h\se ( ,repres5tatives4  7ii7 ,proc$ure
 ,= a motion to proce$ to consid] a jo9t
 resolution-- 7,i7 all po9ts ( ord]     
aga9/ ! motion are waiv$2  7,,ii7 su* a 
motion %all n be 9 ord] aft] ! ,h\se (  
,repres5tatives has dispos$ ( a motion  
to proce$ to ! jo9t resolution2  7,,iii7

 ! previ\s "q %all be consid]$ z ord]$  
on ! motion to its adoption )\t int]v5+ 
motion2  7,,iv7 ! motion %all n be      
debatable2 &  7,v7 a motion to reconsid]
 ! vote by :i* ! motion is dispos$ (    
%all n be 9 ord]4  7,c7 ,consid]ation ,!
 ,h\se ( ,repres5tatives %all e/abli%   
rules = consid]ation ( a jo9t resolution
 9 ! ,h\se ( ,repres5tatives4  7#b7     
,exp$it$ consid]ation 9 ,s5ate ,9 !     
,s5ate3 7,a7 ,placem5t on cal5d> ,^u a  
jo9t resolution be+ report$ by !        
,committee on ! ,budget ( ! ,s5ate1 or  
^u receipt ( a jo9t resolution f ! ,h\se
 ( ,repres5tatives1 ! jo9t resolution   
%all be plac$ imm$iately on ! cal5d>4   
7,b7 ,motion to proce$  7i7 ,tim+ ,a    
motion to proce$ to a jo9t resolution is
 9 ord] at any "t aft] ! resolution is  
plac$ on ! cal5d>4  7ii7 ,motion by any 
,s5ator ,any ,s5ator may move to proce$ 
to a jo9t resolution4  7iii7 ,privilege 
,a motion to proce$ to ! consid]ation ( 
! jo9t resolution is privileg$1 except t
 ?is clause %all apply only to a motion 

to proce$ to a jo9t resolution report$  
by ! ,committee on ! ,budget "u         
subsection 7d7 or to ! fir/ jo9t        
resolution plac$ on ! cal5d> aft]       
passage 9 ! ,h\se ( ,repres5tatives4    
7iv7 ,debate ,debate on a motion to     
proce$ to a jo9t resolution is limit$ to
 n m ?an #e h\rs1 equally divid$ betwe5 
,s5ators favor+ & ,s5ators oppos+ !     
resolution4  7v7 ,motion n am5dable ,!  
motion to proce$ to ! jo9t resolution is
 n am5dable4 ,a motion to reconsid] is n
 9 ord]4 ,a motion to table is n 9 ord]4
  7vi7 ,o!r motions n 9 ord] ,aft] a    
motion to proce$ to a jo9t resolution is
 agre$ to1 motions to po/pone or to     
consid] o!r bus9ess are n 9 ord]4  7,c7 
,motions & appeals ,all motions &       
appeals relat+ to a jo9t resolution %all
 be decid$ by ! ,s5ate )\t debate4  7,d7
 ,floor consid]ation g5]ally ,if !      
,s5ate proce$s to consid]ation ( a jo9t 
resolution-- 7i7 all po9ts ( ord] aga9/ 
! jo9t resolution 7& aga9/ consid]ation 
( ! jo9t resolution7 are waiv$2  7ii7   

consid]ation ( ! jo9t resolution1 & all 
am5dm5ts !reto & debatable motions &    
appeals 9 connection !re)1 %all be      
limit$ to n m ?an #aj h\rs1 :i* %all be 
divid$ equally betwe5 ! majority &      
m9ority lead]s or _! designees2  7iii7 a
 motion to po/pone or a motion to commit
 ! jo9t resolution is n 9 ord]2 &  7iv7 
a motion to proce$ to ! consid]ation (  
o!r bus9ess is n 9 ord]4  7,e7          
,requirem5ts = am5dm5ts  7i7 ,9 g5]al   
,no am5dm5t t is n g]mane to !          
provisions ( a jo9t resolution %all be  
consid]$4  7ii7 ,repeal ( major rules   
,not)/&+ clause 7i7 or any o!r rule1 an 
am5dm5t or s]ies ( am5dm5ts to a jo9t   
resolution %all always be 9 ord] if su* 
am5dm5t or s]ies ( am5dm5ts proposes to 
repeal a major rule t w\ld result 9 a   
decrease 9 ! direct co/ ( ,f$]al        
regulation dur+ ! #aj-;fiscal-ye> p]iod 
beg9n+ ) ! next full fiscal ye>4  7,f7  
,vote on passage ,! vote on passage %all
 occur imm$iately foll[+ ! conclusion ( 
! consid]ation ( a jo9t resolution1 & a 

s+le quorum call at ! conclusion ( !    
debate if reque/$ 9 accordance ) ! rules
 ( ! ,s5ate4  7,g7 ,rul+s ( ! *air on   
proc$ure ,appeals f ! decisions ( !     
,*air relat+ to ! application ( ?is     
subsection or ! rules ( ! ,s5ate1 z !   
case may be1 to ! proc$ure relat+ to a  
jo9t resolution %all be decid$ )\t      
debate4  7#c7 ,consid]ation aft] passage
  7,a7 ,9 g5]al ,if ,congress passes a  
jo9t resolution1 ! p]iod beg9n+ on !    
date ! ,presid5t is pres5t$ ) ! jo9t    
resolution & end+ on ! date ! ,presid5t 
takes action ) respect to ! jo9t        
resolution %all be disreg>d$ 9 comput+ !
 p]iod describ$ 9 subsection 7g74  7,b7 
,vetoes ,if ! ,presid5t vetoes ! jo9t   
resolution-- 7i7 ! p]iod beg9n+ on !    
date ! ,presid5t vetoes ! jo9t          
resolution & end+ on ! date ,congress   
receives ! veto message ) respect to !  
jo9t resolution %all be disreg>d$ 9     
comput+ ! p]iod describ$ 9 subsection   
7g72 &  7ii7 consid]ation ( a veto      
message 9 ! ,s5ate "u ?is section %all  

be n m ?an #b h\rs equally divid$ betwe5
 ! majority & m9ority lead]s or _!      
designees4  7#d7 ,rules ( ,h\se (       
,repres5tatives & ,s5ate ,?is subsection
 is enact$ by ,congress-- 7,a7 z an     
ex]cise ( ! rulemak+ p[] ( ! ,s5ate &   
,h\se ( ,repres5tatives1 respectively1 &
 z su* is deem$ a "p ( ! rules ( ea*    
,h\se1 respectively1 b applicable only )
 respect to ! proc$ure to be foll[$ 9 t 
,h\se 9 ! case ( a jo9t resolution1 &   
sup]s$e o!r rules only to ! ext5t t !y  
are inconsi/5t ) su* rules2 &  7,b7 )   
full recognition ( ! con/itutional "r ( 
ei!r ,h\se to *ange ! rules 7s f> z     
relat+ to ! proc$ure ( t ,h\se7 at any  
"t1 9 ! same mann]1 & to ! same ext5t z 
9 ! case ( any o!r rule ( t ,h\se4  7f7 
,effect ( jo9t resolution  7#a7 ,9 g5]al
 ,a major rule %all cease to h =ce or   
effect if ,congress enacts a jo9t       
resolution repeal+ ! major rule4  7#b7  
,limitation on subsequ5t rulemak+ ,a    
rule t ceases to h =ce or effect "u     
p>agraph 7#a7 may n be reissu$ 9        

sub/antially ! same =m1 & a new rule t  
is sub/antially ! same z su* a rule may 
n be issu$1 unless ! reissu$ or new rule
 is specifically au?oriz$ by a law      
enact$ aft] ! date ( enactm5t ( ! jo9t  
resolution repeal+ ! orig9al rule4  7g7 
,failure ,to enact r$uctions 9 sp5d+    
7#a7 ,det]m9ation ,on ! date t is #fa   
days aft] ! date on :i* ! debt limit is 
increas$ or a susp5sion ( ! debt limit  
takes effect1 ! ,director ( ! ,(fice (  
,managem5t & ,budget %all det]m9e :e!r  
legislation has be5 enact$ elim9at+     
rules t r$uces ! direct co/ ( ,f$]al    
regulation dur+ ! #aj-;fiscal-ye> p]iod 
describ$ 9 subsection 7b77#a7 by n less 
?an #ae p]c5t ( ! am\nt ( ! increase 9 !
 debt limit4  7#b7 ,insuffici5t         
r$uctions ,if ! ,director ( ! ,(fice (  
,managem5t & ,budget det]m9es t         
legislation has n be5 enact$ t elim9ates
 rules t r$uces ! direct co/ ( ,f$]al   
regulation dur+ ! #aj-;fiscal-ye> p]iod 
describ$ 9 subsection 7b77#a7 by n less 
?an #ae p]c5t ( ! am\nt ( ! increase 9 !

 debt limit1 effective on ! date ( !    
det]m9ation1 ! limitation 9 section     
#caja7;b7 ( title #ca1 ,unit$ ,/ates    
,code1 %all be equal to ! sum ( ! face  
am\nt ( obligations issu$ "u *apt] #ca (
 title #ca1 ,unit$ ,/ates ,code1 & !    
face am\nt ( obligations ^: pr9cipal &  
int]e/ are gu>ante$ by ! ,unit$ ,/ates  
,gov]nm5t 7except gu>ante$ obligations  
held by ! ,secret>y ( ! ,treasury7      
out/&+ on ! date ( ! det]m9ation4