,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #ieai  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,septemb] #aj1        
#bjbd,mr4 ,edw>ds introduc$ ! foll[+    
bill2 :i* 0 ref]r$ to ! ,committee on ! 
,budget1 & 9 addition to ! ,committees  
on ,appropriations1 & ,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       
e/abli% a limit on increases 9 total    
,f$]al sp5d+1 & = o!r purposes4  #a4    
,%ort title ,?is ,act may be cit$ z !   
,/op ,bankrupt+ ,our ,c\ntry ,act4  #b4 
,limit on gr[? ( ,f$]al sp5d+  7a7      
,limit  7#a7 ,9 g5]al ,except z provid$ 
9 p>agraph 7#b71 dur+ any fiscal ye>    
beg9n+ ) fiscal ye> #bjbe1 ! total am\nt
 ( ,f$]al exp5ditures dur+ su* fiscal   
ye> may n exce$ ! total am\nt ( ,f$]al  
exp5ditures = ! prec$+ fiscal ye>1      
increas$ by a p]c5tage equal to-- 7,a7 !
 av]age inflation *ange1 express$ z a   
p]c5tage1 = ! cal5d> ye> end+ 9 su*     

prec$+ fiscal ye> & ! prec$+ two cal5d> 
ye>s1 plus  7,b7 ! av]age *ange 9       
national population1 express$ z a       
p]c5tage1 = ! cal5d> ye> end+ 9 su*     
prec$+ fiscal ye> & ! prec$+ two cal5d> 
ye>s4  7#b7 ,exception ,congress may    
only increase ! sp5d+ limit e/abli%$ "u 
?is section = a fiscal ye> by an        
affirmative vote ( two-?irds ( ! ,memb]s
 ( ! ,h\se ( ,repres5tatives & ! ,s5ate4
  7b7 ,seque/ration  7#a7 ,9 g5]al ,n   
lat] ?an ,janu>y #ae ( ea* cal5d> ye>1 !
 ,director ( ! ,(fice ( ,managem5t &    
,budget %all det]m9e :e!r ,f$]al        
exp5ditures = ! mo/ rec5tly end$ fiscal 
ye> exce$$ ,f$]al exp5ditures = !       
previ\s fiscal ye> "u subsection 7a7 &  
submit a report to ,congress & !        
,presid5t4  7#b7 ,rescission ,if !      
,director det]m9es t ,f$]al exp5ditures 
7 s exce$$ "u p>agraph 7#a71 on ! date  
su* report is issu$1 !re is h]eby       
resc9d$ an am\nt equal to ! excess ( su*
 exp5ditures4 ,su* a rescission %all be 
appli$ to all acc\nts 9 a uni=m p]c5tage

 necess>y to a*ieve ! level ( ! requir$ 
rescission1 except t ) respect to any   
su* rescission-- 7,a7 any acc\nt exempt$
 f seque/ration "u ! ,balanc$ ,budget & 
,em]g5cy ,deficit ,control ,act ( #aihe 
%all be exempt2 &  7,b7 ! g5]al &       
special seque/ration rules "u su* ,act =
 acc\nts1 includ+ ! rules "u section    
#bef ( su* ,act1 %all apply4  7c7       
,def9itions ,9 ?is ,act-- 7#a7 ! t]m    
,f$]al exp5ditures means total ,f$]al   
exp5ditures1 includ+ all m&atory sp5d+ &
 discretion>y sp5d+1 b does n include   
net int]e/ paym5ts on ! debt2  7#b7 !   
t]m inflation *ange means ! p]c5tage    
increase 9 implicit price deflator =    
gross dome/ic product z report$ by !    
,bureau ( ,economic ,analysis 7or any   
successor ag5cy72 &  7#c7 ! t]m         
population means ! numb] ( individuals  
resid+ 9 ! ,unit$ ,/ates1 exclud+ memb]s
 ( ! ,arm$ ,=ces /ation$ ov]seas1 z     
report$ annually by ! ,bureau ( !       
,c5sus4