Debt Control Through Budget Reconciliation Act of 2021

Federal

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I 117TH CONGRESS 1ST SESSION H. R. 1383 To amend the Congressional Budget and Impoundment Control Act of 1974 to provide for long-term debt limits, and for other purposes. IN THE HOUSE OF REPRESENTATIVES FEBRUARY 25, 2021 Mr. STEWART (for himself, Mr. OWENS, Mr. CURTIS, and Mr. FEENSTRA) in- troduced the following bill; which was referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consider- ation of such provisions as fall within the jurisdiction of the committee concerned A BILL To amend the Congressional Budget and Impoundment Con- trol Act of 1974 to provide for long-term debt limits, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Debt Control Through 4 Budget Reconciliation Act of 2021’’. 5 SEC. 2. LONG-TERM DEBT LIMITS. 6 (a) LONG-TERM DEBT LIMITS.— 7 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 2 •HR 1383 IH (1) IN GENERAL.—The Congressional Budget 1 and Impoundment Control Act of 1974 is amended 2 by adding after section 315 the following: 3 ‘‘SEC. 316. LONG-TERM DEBT LIMITS. 4 ‘‘(a) PURPOSE.—The purpose of this section is to es- 5 tablish long-term limits on debt held by the public that 6 are enforced through a special reconciliation process sepa- 7 rate and distinct from the process set forth in section 310. 8 ‘‘(b) LONG-TERM DEBT LIMITS.—The total amount 9 of estimated debt held by the public as a percentage of 10 the estimated nominal gross domestic product of the 11 United States for each fiscal year set forth below is as 12 follows: 13 ‘‘Fiscal Year: Debt to GDP ratio: 2022 101% 2023 99% 2024 98% 2025 96% 2026 94% 2027 92% 2028 90% 2029 88% 2030 87% 2031 85% 2032 83% 2033 81% 2034 79% VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 3 •HR 1383 IH ‘‘Fiscal Year: Debt to GDP ratio: 2035 77% 2036 76% 2037 74% 2038 72% 2039 70% 2040 68% 2041 66% 2042 65% 2043 63% 2044 61% 2045 59% 2046 57% 2047 55% 2048 54% 2049 52% 2050 50% ‘‘(c) SPECIAL RECONCILIATION PROCEDURE.— 1 ‘‘(1) IN GENERAL.—Subject to paragraph (2), 2 after a concurrent resolution on the budget has been 3 agreed to that contains directives regarding the ratio 4 described in section 310(a)(8) recommending 5 changes to the Committee on the Budget of the 6 House of Representatives or the Senate (as applica- 7 ble), the committee shall report to the House or Sen- 8 ate special reconciliation legislation carrying out all 9 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 4 •HR 1383 IH such recommendations without any substantive revi- 1 sion. 2 ‘‘(2) FAILURE TO REPORT COMPLIANT REC- 3 OMMENDATIONS.—If 1 or more committees do not 4 report recommendations that comply with paragraph 5 (1), the Committee on the Budget of the House of 6 Representatives or the Senate (as applicable)— 7 ‘‘(A) shall report the special reconciliation 8 legislation carrying out all reported rec- 9 ommendations that comply with such para- 10 graph, without any substantive revision; and 11 ‘‘(B) may include in the legislation re- 12 ported under subparagraph (A) changes in laws 13 within the jurisdiction of each noncompliant 14 committee, if the changes in law comply with 15 such paragraph. 16 ‘‘(d) LIMITS ON SPECIAL RECONCILIATION BILLS.— 17 ‘‘(1) EXTRANEOUS MATERIAL.— 18 ‘‘(A) IN GENERAL.—It shall not be in 19 order in the Senate to consider any provision in 20 legislation reported under subsection (c) that 21 contains material extraneous (within the mean- 22 ing given that term under section 313) to the 23 directives to the applicable committee. 24 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 5 •HR 1383 IH ‘‘(B) POINT OF ORDER SUSTAINED.—If a 1 point of order is made by a Senator against a 2 provision described in subparagraph (A), and 3 the point of order is sustained by the Chair, 4 that provision shall be stricken from the meas- 5 ure and may not be offered as an amendment 6 from the floor. 7 ‘‘(C) CONFERENCE REPORTS.—When the 8 Senate is considering a conference report on, or 9 an amendment between the Houses in relation 10 to, legislation reported under subsection (c), 11 upon a point of order being made by any Sen- 12 ator pursuant to subparagraph (A), and such 13 point of order being sustained, such material 14 contained in such conference report or House 15 amendment shall be stricken, and the Senate 16 shall proceed to consider the question of wheth- 17 er the Senate shall recede from its amendment 18 and concur with a further amendment, or con- 19 cur in the House amendment with a further 20 amendment, as the case may be, which further 21 amendment shall consist of only that portion of 22 the conference report or House amendment, as 23 the case may be, not so stricken. Any such mo- 24 tion in the Senate shall be debatable. In any 25 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 6 •HR 1383 IH case in which such point of order is sustained 1 against a conference report (or Senate amend- 2 ment derived from such conference report by 3 operation of this subparagraph), no further 4 amendment shall be in order. 5 ‘‘(D) FORM OF THE POINT OF ORDER.—A 6 point of order under subparagraph (A) may be 7 raised by a Senator as provided in section 8 313(e). 9 ‘‘(E) SUPERMAJORITY WAIVER AND AP- 10 PEAL.—In the Senate, this paragraph may be 11 waived or suspended only by an affirmative vote 12 of three-fifths of the Members, duly chosen and 13 sworn. An affirmative vote of three-fifths of 14 Members of the Senate, duly chosen and sworn 15 shall be required to sustain an appeal of the 16 ruling of the Chair on a point of order raised 17 under this paragraph. 18 ‘‘(2) DEFICIT REDUCTION REQUIRED.— 19 ‘‘(A) EACH TITLE REDUCES THE DEF- 20 ICIT.— 21 ‘‘(i) IN GENERAL.—It shall not be in 22 order the House of Representatives or the 23 Senate to consider any title in legislation 24 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 7 •HR 1383 IH reported under subsection (c) that would 1 increase the deficit over— 2 ‘‘(I) the period during which the 3 level of deficit reduction specified in 4 this section is to be achieved; or 5 ‘‘(II) the period covered by the 6 most recently agreed to concurrent 7 resolution on the budget. 8 ‘‘(ii) POINT OF ORDER SUSTAINED.— 9 If a point of order is made by a Senator 10 or Member against a title described in 11 clause (i), and the point of order is sus- 12 tained by the Chair, that title shall be 13 stricken from the measure and may not be 14 offered as an amendment from the floor. 15 ‘‘(iii) FORM OF THE POINT OF 16 ORDER.—A point of order under clause (i) 17 may be raised by a Senator as provided in 18 section 313(e). 19 ‘‘(iv) CONFERENCE REPORTS.—When 20 the Senate or House of Representatives is 21 considering a conference report on, or an 22 amendment between the Houses in relation 23 to, a bill or joint resolution, upon a point 24 of order being made by any Senator or 25 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00007 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 8 •HR 1383 IH Member pursuant to clause (i), and such 1 point of order being sustained, such mate- 2 rial contained in such conference report or 3 House or Senate amendment shall be 4 stricken, and the Senate or House shall 5 proceed to consider the question of whether 6 the Senate or House shall recede from its 7 amendment and concur with a further 8 amendment, or concur in the House or 9 Senate amendment with a further amend- 10 ment, as the case may be, which further 11 amendment shall consist of only that por- 12 tion of the conference report or House or 13 Senate amendment, as the case may be, 14 not so stricken. Any such motion in the 15 Senate or House shall be debatable. In any 16 case in which such point of order is sus- 17 tained against a conference report (or Sen- 18 ate or House amendment derived from 19 such conference report by operation of this 20 clause), no further amendment shall be in 21 order. 22 ‘‘(v) SUPERMAJORITY WAIVER AND 23 APPEAL.—In the Senate, this subpara- 24 graph may be waived or suspended only by 25 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 9 •HR 1383 IH an affirmative vote of three-fifths of the 1 Members, duly chosen and sworn. An af- 2 firmative vote of three-fifths of Members of 3 the Senate, duly chosen and sworn shall be 4 required to sustain an appeal of the ruling 5 of the Chair on a point of order raised 6 under this subparagraph. 7 ‘‘(B) NO AMENDMENTS REDUCING THE 8 AMOUNT OF DEFICIT REDUCTION.— 9 ‘‘(i) IN GENERAL.—It shall not be in 10 order in the House of Representatives or 11 the Senate to consider an amendment to 12 legislation reported under subsection (c) 13 that would reduce the amount of the de- 14 crease in the deficit, as compared to the 15 legislation as reported by the Committee 16 on the Budget of the House or the Senate 17 (as applicable), over— 18 ‘‘(I) the period during which the 19 level of deficit reduction specified in 20 this section is to be achieved; or 21 ‘‘(II) the period covered by the 22 most recently agreed to concurrent 23 resolution on the budget. 24 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 10 •HR 1383 IH ‘‘(ii) SUPERMAJORITY WAIVER AND 1 APPEAL.—In the Senate, this subpara- 2 graph may be waived or suspended only by 3 an affirmative vote of three-fifths of the 4 Members, duly chosen and sworn. An af- 5 firmative vote of three-fifths of Members of 6 the Senate, duly chosen and sworn shall be 7 required to sustain an appeal of the ruling 8 of the Chair on a point of order raised 9 under this subparagraph. 10 ‘‘(e) CONSIDERATION OF SPECIAL RECONCILIATION 11 BILLS.— 12 ‘‘(1) DEADLINE.—Not later than 50 days after 13 a concurrent resolution on the budget has been 14 agreed to, of any calendar year, the House of Rep- 15 resentatives or the Senate shall proceed to consider- 16 ation of legislation reported under subsection (c). 17 ‘‘(2) PROCEDURES.— 18 ‘‘(A) IN GENERAL.—Except as provided in 19 subparagraph (B), and subject to subsection 20 (d), if the Committee on the Budget of the 21 House of Representatives or the Senate (as ap- 22 plicable) reports legislation under subsection 23 (c), the provisions of section 305 for the consid- 24 eration in the House or Senate of concurrent 25 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00010 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 11 •HR 1383 IH resolutions on the budget and conference re- 1 ports thereon shall also apply to the consider- 2 ation in the House or Senate of such legislation 3 and conference reports thereon. 4 ‘‘(B) EXCEPTIONS.— 5 ‘‘(i) DEBATE.—Debate in the Senate 6 on any legislation reported under sub- 7 section (c), and all amendments thereto 8 and debatable motions and appeals in con- 9 nection therewith, shall be limited to not 10 more than 20 hours. 11 ‘‘(ii) AMENDMENTS.—Paragraph (6) 12 of section 305(b) shall not apply to legisla- 13 tion reported under subsection (c). 14 ‘‘(C) VETOES.—If the President vetoes leg- 15 islation reported under subsection (c), in the 16 Senate there shall be not more than 1 hour of 17 debate on the veto message, equally divided be- 18 tween the majority and minority leaders or 19 their designees. 20 ‘‘(3) SPECIAL RULES FOR REVENUE MEAS- 21 URES.— 22 ‘‘(A) IN GENERAL.—If the legislation re- 23 ported under subsection (c) is a revenue meas- 24 ure, the majority leader shall submit for publi- 25 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00011 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 12 •HR 1383 IH cation in the Congressional Record a written 1 statement identifying a bill of the House of 2 Representatives that is a revenue measure and 3 that shall be used as the vehicle for consider- 4 ation of the legislation reported under sub- 5 section (c). 6 ‘‘(B) MOTION TO PROCEED.—A motion to 7 proceed to the consideration of a bill of the 8 Senate identified in a written statement under 9 subparagraph (A) shall not be debatable. 10 ‘‘(C) SUBSTITUTE AMENDMENT.— 11 ‘‘(i) IN GENERAL.—If a motion to 12 proceed to a bill of the Senate identified in 13 a written statement under subparagraph 14 (A) is agreed to, the majority leader shall 15 offer an amendment in the nature of a 16 substitute to the bill, which shall consist 17 only of the text of the legislation reported 18 under subsection (c). 19 ‘‘(ii) TREATMENT OF TEXT.—An 20 amendment in the nature of a substitute 21 offered under clause (i) shall be— 22 ‘‘(I) deemed to be agreed to, sub- 23 ject to further amendment; 24 VerDate Sep 11 2014 05:10 Apr 16, 2021 Jkt 019200 PO 00000 Frm 00012 Fmt 6652 Sfmt 6201 E:\BILLS\H1383.IH H1383 pbinns on DSKJLVW7X2PROD with BILLS 13 •HR 1383 IH ‘‘(II) treated as original text for 1 purposes of germaneness and further 2 amendment; and 3 ‘‘(III) considered in the same 4 manner as legislation reported under 5 subsection (c), in accordance with 6 paragraph (2) of this subsection. 7 ‘‘(D) NO EFFECT ON POINTS OF ORDER.— 8 The fact that legislation reported under sub- 9 section (c) is considered as an amendment in 10 the nature of a substitute to a bill of the House 11 of Representatives shall not preclude any point 12 of order that would lie against the legislation if 13 the legislation were considered as a bill of the 14 Senate reported by the Committee on the Budg- 15 et under subsection (c).’’. 16 (2) CLERICAL AMENDMENT.—The table of con- 17 tents set forth in section 1(b) of such Act is amend- 18 ed by inserting after the item relating to section 315 19 the following: 20 ‘‘316. Long-term debt limits.’’. (b) CONTENTS OF CONCURRENT RESOLUTION ON 21 THE BUDGET.—Section 301(a) of the Congressional 22 Budget and Impoundme [Text truncated for display. Full text available on Congress.gov.]

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