119-hr1092

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1092 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 1092

 To amend title 31 of the United States Code and the Congressional 
 Budget Act of 1974 to automatically increase the debt limit for the 
 fiscal year of a budget resolution, and for other purposes.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 February 6, 2025

 Mr. Peters (for himself, Mr. Huizenga, Mr. Panetta, and Mr. Nunn of 
 Iowa) introduced the following bill; which was referred to the 
 Committee on Rules, and in addition to the Committees on Ways and 
 Means, and the Budget, for a period to be subsequently determined by 
the Speaker, in each case for consideration of such provisions as fall 
 within the jurisdiction of the committee concerned

_______________________________________________________________________

 A BILL

 To amend title 31 of the United States Code and the Congressional 
 Budget Act of 1974 to automatically increase the debt limit for the 
 fiscal year of a budget resolution, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Responsible Budgeting Act''.

SEC. 2. PRESIDENTIAL REQUEST TO INCREASE THE DEBT LIMIT.

    (a) In General.--Title 31, United States Code, is amended by 
striking 

section 3101A and inserting the following:
``

Sec. 3101A. Modification of statutory limit on the public debt
 ``

    (a) In General.--Upon adoption by Congress of a concurrent 
resolution on the budget under 

section 301 or 304 of the Congressional 
Budget Act of 1974 (2 U.S.C. 632, 634) that satisfies the required 
ratio, as determined by the Congressional Budget Office, the Clerk of 
the House of Representatives shall prepare an engrossment of a joint 
resolution in the form prescribed in subsection

    (b) increasing the 
statutory limit on the public debt to the amount of debt subject to 
limit specified by such concurrent resolution. Upon engrossment of the 
joint resolution, the vote by which the concurrent resolution on the 
budget was adopted by the House of Representatives shall also be 
considered as a vote on passage of the joint resolution in the House of 
Representatives, and the joint resolution shall be considered as passed 
by the House of Representatives and duly certified and examined. The 
engrossed copy shall be signed by the Clerk of the House of 
Representatives and transmitted to the Senate. Upon receipt of the 
House of Representatives joint resolution in the Senate, the vote by 
which the concurrent resolution on the budget was adopted in the Senate 
shall also be considered as a vote on passage of the joint resolution 
in the Senate, and the joint resolution shall be considered as passed 
by the Senate, duly certified and examined, and transmitted to the 
House of Representatives for enrollment.
 ``

    (b) Form of Joint Resolution.--The form of the joint resolution 
described in this subsection is a joint resolution--
 ``

    (1) which does not have a preamble;
 ``

    (2) the title of which is only as follows: `Joint 
 resolution increasing the debt limit, as prepared under 

section 3101A of title 31, United States Code, on ______' (with the 
 blank containing the date on which the joint resolution is 
 prepared); and
 ``

    (3) the matter after the resolving clause which is only 
 as follows: `The limitation under 

section 3101

    (b) of title 31, 
 United States Code, is increased by $___ ' (with the blank 
 being filled with the increase, expressed as a dollar amount, 
 of the debt subject to limit, as determined under subsection
            (c) ).
 ``
            (c) Determination.--The dollar amount under subsection

    (b)

    (3) shall be equal to the amount necessary to increase the total debt 
subject to limit on the date of enactment of such joint resolution to 
the amount that such limit is estimated to be on the last day of the 
budget year covered by the applicable concurrent resolution on the 
budget.
 ``
            (d) Rule of Construction.--Nothing in this section shall be 
construed as limiting or otherwise affecting--
 ``

    (1) the power of the House of Representatives or the 
 Senate to consider and pass bills or joint resolutions, without 
 regard to the procedures under subsection

    (a) , that would 
 change the statutory limit on the public debt; or
 ``

    (2) the rights of Members, Delegates, the Resident 
 Commissioner, or committees with respect to the introduction, 
 consideration, and reporting of such bills or joint 
 resolutions.
 ``

    (e) 

=== Definitions. ===
-In this section and 

section 3101B--
 ``

    (1) the term `required ratio' means the ratio that 
 reduces by not less than 5 percentage points the projected 
 ratio under current law of debt held by the public to Gross 
 Domestic Product in the tenth fiscal year after the current 
 fiscal year; and
 ``

    (2) the term `statutory limit on the public debt' means 
 the maximum face amount of obligations issued under authority 
 of this chapter and obligations guaranteed as to principal and 
 interest by the United States (except such guaranteed 
 obligations as may be held by the Secretary of the Treasury), 
 as determined under 

section 3101

    (b) after the application of 
 

section 3101

    (a) , that may be outstanding at any one time.
``

Sec. 3101B. Presidential modification of the debt ceiling
 ``

    (a) In General.--
 ``

    (1) Written notification.--If, for a fiscal year, 
 Congress does not adopt a concurrent resolution on the budget 
 that satisfies the required ratio by the covered date, the 
 President may submit a written notification to Congress, 
 including a debt reduction proposal with legislative language 
 that satisfies the required ratio, that the President is 
 increasing the statutory limit on the public debt subject to 
 limit in 

section 3101

    (b) and that further borrowing is required 
 to meet existing commitments.
 ``

    (2) Effect of notification.--
 ``
        (A) In general.--Subject to subparagraph
            (C) , 
 upon the submission of a written notification by the 
 President under paragraph

    (1) , including a debt 
 reduction proposal comprised of legislative text that 
 the Director of the Office of Management and Budget has 
 determined satisfies the required ratio, the statutory 
 limit on the public debt shall be increased by an 
 amount determined under subparagraph
            (D) .
 ``
        (B) Effective date.--Except as provided in 
 subparagraph
            (C) , an increase of the statutory limit on 
 the public debt under subparagraph
        (A) shall take 
 effect on the date that is 30 calendar days after the 
 date on which the written notification is submitted by 
 the President under paragraph

    (1) .
 ``
            (C) Limitation on authority.--The statutory limit 
 on the public debt shall not be increased under this 
 paragraph if, during the 30-calendar-day period 
 beginning on the date on which Congress receives a 
 notification under this paragraph, Congress enacts into 
 law a joint resolution of disapproval in accordance 
 with subsection

    (b) .
 ``
            (D) Determination of increase.--The increase of 
 the statutory limit on the public debt under 
 subparagraph
        (A) shall be equal to the amount necessary 
 to increase the total debt subject to limit to the 
 amount that such limit is estimated to be on the last 
 day of the first fiscal year beginning after the 
 covered date. The Office of Management and Budget shall 
 determine the amount of such increase using baseline 
 estimates provided by the Congressional Budget Office.
 ``

    (3) Covered date defined.--For purposes of paragraph

    (1) , 
 the term `covered date' means the earlier of--
 ``
        (A) April 15 of the calendar year in which the 
 fiscal year of the applicable concurrent resolution on 
 the budget begins; or
 ``
        (B) 60 days before the date on which the 
 statutory limit on the public debt will be reached, as 
 described in the congressional notification submitted 
 by the Secretary of the Treasury.
 ``

    (b) Joint Resolution of Disapproval.--
 ``

    (1) In general.--If a joint resolution of disapproval has 
 not been enacted by the end of the 30-calendar-day period 
 beginning on the date on which the presidential notification to 
 which the joint resolution relates was received by Congress 
 under subsection

    (a) , the statutory limit on public debt shall 
 be increased as specified in the presidential notification.
 ``

    (2) Contents of joint resolution.--For the purpose of 
 this section, the term `joint resolution' means only a joint 
 resolution--
 ``
        (A) that is introduced between the date the 
 written notification is received and 3 calendar days 
 after that date (or if the House of Representatives or 
 Senate is not in session, the next calendar date in 
 which it is in session);
 ``
        (B) which does not have a preamble;
 ``
            (C) the title of which is only as follows: `Joint 
 resolution relating to the disapproval of the 
 President's exercise of authority to increase the debt 
 limit, as submitted under 

section 3101B

    (a) of title 31, 
 United States Code, on ______' (with the blank 
 containing the date of such submission); and
 ``
            (D) the matter after the resolving clause of 
 which is only as follows: `That Congress disapproves of 
 the President's exercise of authority to increase the 
 debt limit, as exercised pursuant to the written 
 notification under 

section 3101B

    (a) of title 31, United 
 States Code.'.
 ``
            (c) Expedited Consideration in the House of Representatives.--
 ``

    (1) Reconvening.--Upon receipt of a written notification 
 described in subsection

    (a)

    (1) , the Speaker of the House of 
 Representatives, if the House of Representatives would 
 otherwise be adjourned, shall notify the Members of the House 
 of Representatives that, pursuant to this section, the House of 
 Representatives shall convene not later than the second 
 calendar day after receipt of such written notification.
 ``

    (2) Reporting and discharge.--A joint resolution 
 introduced under paragraph

    (1) shall be referred to the 
 Committee on Ways and Means of the House of Representatives and 
 such committee shall report the joint resolution to the House 
 of Representatives without amendment not later than 5 calendar 
 days after the date on which the joint resolution is 
 introduced. If the Committee on Ways and Means fails to report 
 the joint resolution within the 5-day period, the Committee on 
 Ways and Means shall be discharged from further consideration 
 of the joint resolution and it shall be referred to the 
 appropriate calendar.
 ``

    (3) Proceeding to consideration.--Upon report or 
 discharge from the Committee on Ways and Means of the House of 
 Representatives, and not later than 6 days after the date on 
 which the joint resolution is introduced under paragraph

    (1) , 
 it shall be in order to move to proceed to consider the joint 
 resolution in the House of Representatives. All points of order 
 against the motion are waived. Such a motion shall not be in 
 order after the House of Representatives has disposed of a 
 motion to proceed on a joint resolution addressing a particular 
 submission. The previous question shall be considered as 
 ordered on the motion to its adoption without intervening 
 motion. The motion shall not be debatable. A motion to 
 reconsider the vote by which the motion is disposed of shall 
 not be in order.
 ``

    (4) Consideration.--The joint resolution shall be 
 considered as read. All points of order against the joint 
 resolution and against its consideration are waived. The 
 previous question shall be considered as ordered on the joint 
 resolution to its passage without intervening motion except two 
 hours of debate equally divided and controlled by the proponent 
 and an opponent. A motion to reconsider the vote on passage of 
 the joint resolution shall not be in order.
 ``
            (d) Expedited Procedure in Senate.--
 ``

    (1) Reconvening.--Upon receipt of a written notification 
 under subsection

    (a)

    (1) , if the Senate has adjourned or 
 recessed for more than 2 days, the majority leader of the 
 Senate, after consultation with the minority leader of the 
 Senate, shall notify the Members of the Senate that, pursuant 
 to this section, the Senate shall convene not later than the 
 second calendar day after receipt of such message.
 ``

    (2) Placement on calendar.--Upon introduction in the 
 Senate, the joint resolution shall be immediately placed on the 
 calendar.
 ``

    (3) Floor consideration.--
 ``
        (A) In general.--Notwithstanding Rule XXII of the 
 Standing Rules of the Senate, it is in order at any 
 time during the period beginning on the day after the 
 date on which Congress receives a written notification 
 under subsection

    (a) and ending on the sixth day after 
 the date on which Congress receives a written 
 notification under subsection

    (a) (even though a 
 previous motion to the same effect has been disagreed 
 to) to move to proceed to the consideration of the 
 joint resolution, and all points of order against the 
 joint resolution (and against consideration of the 
 joint resolution) are waived. The motion to proceed is 
 not debatable. The motion is not subject to a motion to 
 postpone. A motion to reconsider the vote by which the 
 motion is agreed to or disagreed to shall not be in 
 order. If a motion to proceed to the consideration of 
 the resolution is agreed to, the joint resolution shall 
 remain the unfinished business until disposed of.
 ``
        (B) Consideration.--Consideration of the joint 
 resolution, and on all debatable motions and appeals in 
 connection therewith, shall be limited to not more than 
 10 hours, which shall be divided equally between the 
 majority and minority leaders or their designees. A 
 motion further to limit debate is in order and not 
 debatable. An amendment to, or a motion to postpone, or 
 a motion to proceed to the consideration of other 
 business, or a motion to recommit the joint resolution 
 is not in order.
 ``
            (C) Vote on passage.--If the Senate has voted to 
 proceed to a joint resolution, the vote on passage of 
 the joint resolution shall occur immediately following 
 the conclusion of consideration of the joint 
 resolution, and a single quorum call at the conclusion 
 of the debate if requested in accordance with the rules 
 of the Senate.
 ``
            (D) Rulings of the chair on procedure.--Appeals 
 from the decisions of the Chair relating to the 
 application of the rules of the Senate, as the case may 
 be, to the procedure relating to a joint resolution 
 shall be decided without debate.
 ``

    (e) Amendment Not in Order.--A joint resolution of disapproval 
considered pursuant to this section shall not be subject to amendment 
in either the House of Representatives or the Senate.
 ``

    (f) Coordination With Action by Other House.--
 ``

    (1) In general.--If, before passing the joint resolution, 
 one House receives from the other a joint resolution--
 ``
        (A) the joint resolution of the other House shall 
 not be referred to a committee; and
 ``
        (B) the procedure in the receiving house shall be 
 the same as if no joint resolution had been received 
 from the other house until the vote on passage, when 
 the joint resolution received from the other house 
 shall supplant the joint resolution of the receiving 
 House.
 ``

    (2) Treatment of joint resolution of other house.--If the 
 Senate fails to introduce or consider a joint resolution under 
 this section, the joint resolution of the House shall be 
 entitled to expedited floor procedures under this section.
 ``

    (3) Treatment of companion measures.--If, following 
 passage of the joint resolution in the Senate, the Senate then 
 receives the companion measure from the House of 
 Representatives, the companion measure shall not be debatable.
 ``

    (4) Consideration after passage.--
 ``
        (A) In general.--If Congress passes a joint 
 resolution, the period beginning on the date the 
 President is presented with the joint resolution and 
 ending on the date the President signs, allows to 
 become law without the signature of the President, or 
 vetoes and returns the joint resolution (but excluding 
 days when either House is not in session) shall be 
 disregarded in computing the appropriate calendar day 
 period described in subsection

    (b)

    (1) .
 ``
        (B) Debate on veto message.--Debate on a veto 
 message in the Senate under this section shall be 1 
 hour equally divided between the majority and minority 
 leaders or their designees.
 ``
            (C) Veto override.--If, within the 30-calendar-
 day period described in subsection

    (b)

    (1) , Congress 
 overrides a veto of a joint resolution, the limitation 
 in effect under 

section 3101

    (b) shall not be suspended.
 ``

    (g) Rules of House of Representatives and Senate.--This section 
and 

section 3101A are enacted by Congress--
 ``

    (1) as an exercise of the rulemaking power of the Senate 
 and House of Representatives, respectively, and as such it is 
 deemed a part of the rules of each House, respectively, but 
 applicable only with respect to the procedure to be followed in 
 that House in the case of a joint resolution, and it supersedes 
 other rules only to the extent that it is inconsistent with 
 such rules; and
 ``

    (2) with full recognition of the constitutional right of 
 either House to change the rules (so far as relating to the 
 procedure of that House) at any time, in the same manner, and 
 to the same extent as in the case of any other rule of that 
 House.''.

    (b) Clerical Amendment.--The table of sections of subchapter I of 
chapter 31 of title 31, United States Code, is amended by striking the 
item relating to 

section 3101A and inserting the following:

``3101A. Modification of statutory limit on the public debt.
``3101B. Presidential modification of the debt ceiling.''.

SEC. 3. CONSIDERATION OF THE DEBT REDUCTION PROPOSAL SUBMITTED BY THE 
 PRESIDENT.

    (a) In General.--Part A of title IV of the Congressional Budget and 
Impoundment Control Act of 1974 (2 U.S.C. 651 et seq.) is amended by 
inserting after 

section 406 the following:

``

SEC. 407. CONSIDERATION OF THE DEBT REDUCTION PROPOSAL SUBMITTED BY 
 THE PRESIDENT.

 ``

    (a) In General.--Any debt reduction proposal submitted by the 
President under 

section 3101B

    (a)

    (2)
        (A) of title 31, United States Code, 
is required to satisfy the required ratio as determined by the Office 
of Management and Budget.
 ``

    (b) Consideration of the President's Proposal in the House of 
Representatives.--
 ``

    (1) Introduction.--Any debt reduction proposal submitted 
 by the President under 

section 3101B of title 31, United States 
 Code, shall be introduced by the majority or minority leader of 
 the House of Representatives or their designees. Upon 
 introduction, the Chair of the Committee on the Budget shall 
 within 3 days submit the proposal to the Congressional Budget 
 Office to be scored.
 ``

    (2) Referral.--Any proposal introduced under paragraph

    (1) shall be referred to the Committee on the Budget of the 
 House of Representatives.
 ``

    (3) Requests by budget committee.--Not later than 3 days 
 after the date on which a proposal is referred under paragraph

    (2) , the Chair of the Committee on the Budget of the House of 
 Representatives shall submit to each appropriate committee of 
 the House a debt reduction target and a request that, during 
 the 30-day period beginning on the date on which the request is 
 made, the appropriate committee submit to the Committee on the 
 Budget of the House--
 ``
        (A) a general assessment of the proposal 
 introduced under paragraph

    (1) ; and
 ``
        (B) a legislative proposal within the committee's 
 jurisdiction that results in debt reduction meeting or 
 exceeding the target assigned to the committee under 
 this paragraph.
 ``

    (4) Reported legislation by budget committee.--
 ``
        (A) In general.--The Committee on the Budget of 
 the House of Representatives shall report a bill that 
 meets the required ratio not later than 60 days after 
 the date on which the President submits a debt 
 reduction proposal under this section.
 ``
        (B) Contents of legislation.--The bill reported 
 under subparagraph
        (A) may include--
 ``
            (i) the debt reduction proposal submitted 
 by the President under this section, including 
 any modifications to such proposal by the 
 Committee on Budget of the House of 
 Representatives that are necessary to make it 
 achieve the required ratio; and
 ``
            (ii) the compilation of proposals 
 submitted to the Committee on Budget of the 
 House of Representatives under paragraph

    (3) , 
 including any modifications to such package by 
 such Committee that are necessary to make it 
 achieve the required ratio.
 ``
            (C) CBO score.--
 ``
            (i) In general.--No bill may be reported 
 under subparagraph
        (A) unless the Chair of the 
 Committee on the Budget--
 ``
            (I) submits to the Director of 
 the Congressional Budget Office such 
 bill for a cost estimate to be prepared 
 under 

section 402; and
 ``
            (II) receives from the Director a 
 cost estimate described in subclause
            (I) that includes a statement that such 
 bill meets the required ratio.
 ``
            (ii) Time period.--The 60-day period 
 described in subparagraph
        (A) shall not include 
 the period beginning on the date on which the 
 Chair of the Committee on the Budget of the 
 House of Representatives submits to the 
 Director of the Congressional Budget Office the 
 bill under clause
            (i) 
            (I) and ending on the date 
 on which the Chair receives the cost estimate 
 under clause
            (i) 
            (II) .
 ``

    (5) Discharge.--
 ``
        (A) In general.--If the Committee on the Budget 
 of the House of Representatives fails to report a bill 
 within 60 days after the referral of the proposal 
 submitted under 

section 3101B of title 31, United 
 States Code, and such proposal has been determined by 
 the Director to satisfy the required ratio, then the 
 committee shall be discharged from further 
 consideration of the bill that embodies the debt 
 reduction proposal of the President and it shall be 
 referred to the appropriate calendar.
 ``
        (B) Consideration.--In the House of 
 Representatives, if the Committee on Rules fails to 
 report a rule within 7 legislative days of the bill 
 being placed on the Calendar for the consideration of a 
 bill reported by the Committee on the Budget under 
 paragraph

    (4) or discharged under subparagraph
        (A) of 
 this paragraph which has been determined by the 
 Director to satisfy the required ratio, then any Member 
 may offer a privilege resolution providing for the 
 consideration of the bill. Such resolution shall 
 provide that upon its adoption it shall be in order to 
 consider in the House of Representatives the bill. The 
 bill under the procedure set forth in 

section 408
            (c) shall be debatable for two hours equally divided and 
 controlled by a proponent and opponent of thereof. The 
 previous question shall be considered as ordered on the 
 bill of final passage without intervening motion except 
 1 motion to recommit.
 ``
            (c) Consideration of the President's Proposal in the Senate.--
 ``

    (1) Introduction.--Any debt reduction proposal submitted 
 by the President under 

section 3101B of title 31, United States 
 Code, shall be introduced by the majority or minority leader of 
 the Senate or their designees. Upon introduction, the Chair of 
 the Committee on the Budget shall within 3 days submit the 
 proposal to the Congressional Budget Office to be scored.
 ``

    (2) Referral.--Any proposal introduced under paragraph

    (1) shall be referred to the Committee on the Budget of the 
 Senate.
 ``

    (3) Requests by budget committee.--
 ``
        (A) Appropriate committees.--Not later than 3 
 days after the date on which a proposal is referred 
 under paragraph

    (2) , the Chair of the Committee on the 
 Budget of the Senate shall submit to each appropriate 
 committee of the Senate a debt reduction target and a 
 request that, during the 30-day period beginning on the 
 date on which the request is made, the appropriate 
 committee submit to the Committee on the Budget of the 
 Senate--
 ``
            (i) a general assessment of the proposal 
 introduced under paragraph

    (1) ; and
 ``
            (ii) a legislative proposal within the 
 committee's jurisdiction that results in debt 
 reduction meeting or exceeding the target 
 assigned to the committee under this 
 subparagraph.
 ``
        (B) Other proposals.--Any Member of the Senate 
 may introduce a bill that meets the required ratio, as 
 determined by the Congressional Budget Office, which 
 shall be referred to the Committee on the Budget of the 
 Senate if the proposal is sponsored by not less than 
 one-fifth of the Members, duly chosen and sworn, 
 including--
 ``
            (i) not fewer than 10 Members who are 
 members of or caucus with the members of the 
 political party of the majority leader of the 
 Senate; and
 ``
            (ii) not fewer than 10 Members who are 
 members of or caucus with any other political 
 party that is not the political party of the 
 majority leader of the Senate.
 ``

    (4) Reported legislation by budget committee.--
 ``
        (A) In general.--The Committee on the Budget of 
 the Senate shall report at least one bill that meets 
 the required ratio not later than 60 days after the 
 date on which the President submits a debt reduction 
 proposal under this section.
 ``
        (B) Contents of legislation.--A bill reported 
 under subparagraph
        (A) may include--
 ``
            (i) the debt reduction proposal submitted 
 by the President under this subsection, 
 including any modifications to such proposal by 
 the Committee on Budget of the Senate that are 
 necessary to make it achieve the required 
 ratio;
 ``
            (ii) the compilation of proposals 
 submitted to the Committee on Budget of the 
 Senate under subparagraph

    (3)
        (A) , including any 
 modifications to such package by the Committee 
 on Budget of the Senate that are necessary to 
 make it achieve the required ratio; or
 ``
            (iii) any proposal submitted to the 
 Committee on Budget of the Senate under 
 subparagraph

    (3)
        (B) .
 ``
            (C) CBO score.--
 ``
            (i) In general.--No bill may be reported 
 under subparagraph
        (A) unless the Chair of the 
 Committee on the Budget--
 ``
            (I) submits to the Director of 
 the Congressional Budget Office such 
 bill for a cost estimate to be prepared 
 under 

section 402; and
 ``
            (II) receives from the Director a 
 cost estimate described in subclause
            (I) that includes a statement that such 
 bill meets the required ratio.
 ``
            (ii) Time period.--The 60-day period 
 described in subparagraph
        (A) shall not include 
 the period beginning on the date on which the 
 Chair of the Committee on the Budget of the 
 Senate submits to the Director of the 
 Congressional Budget Office the bill under 
 clause
            (i) 
            (I) and ending on the date on which 
 the Chair receives the cost estimate under 
 clause
            (i) 
            (II) .
 ``

    (5) Discharge.--If the Committee on the Budget of the 
 Senate has not reported a bill under paragraph

    (4) before the 
 end of the 60-day period described in that paragraph, the 
 Committee on the Budget of the Senate shall be automatically 
 discharged from further consideration of--
 ``
        (A) the proposal introduced under paragraph

    (1) , 
 which shall be placed on the appropriate calendar; and
 ``
        (B) any proposal submitted under paragraph

    (3)
        (B) , which shall be placed on the appropriate 
 calendar.
 ``
            (d) === Definition. ===
-In this section and 

section 408, the term 
`required ratio' means the ratio that reduces by not less than 5 
percentage points the projected ratio under current law of debt held by 
the public to Gross Domestic Product in the tenth fiscal year after the 
current fiscal year.

``

SEC. 408. CONSIDERATION IN THE HOUSE OF REPRESENTATIVES OF 
 ALTERNATIVE DEBT REDUCTION PROPOSALS.

 ``

    (a) Introduction.--In the House of Representatives, any bill that 
satisfies the required ratio as determined by the Congressional Budget 
Office and does not contain any matter that is unrelated to debt 
reduction may be introduced by the majority leader, the minority 
leader, or by any other Member (if that Member's proposed bill is 
cosponsored by at least 145 other Members or by at least 20 Members of 
the majority party and 20 Members of the minority party).
 ``

    (b) Referral to Committee on Rules.--Any bill introduced under 
subsection

    (a) shall be referred to the Committee on Rules. Each such 
bill shall be scored by the Director of the Congressional Budget Office 
to determine if such bill satisfies the required ratio. If such bill 
achieves the required ratio, it shall be reported without amendment to 
the House for its consideration within 30 calendar days of the date of 
introduction of the bill.
 ``
            (c) Queen-of-the-Hill Rule for Consideration.--In the House of 
Representatives, any bill described in 

section 407 and any bill 
reported under subsection

    (b) shall be considered in the House of 
Representatives pursuant to a special order of business if the text of 
the bill provides that the text of all such bills reported under 
subsection

    (b) may be offered as amendments in the nature of a 
substitute and if more than one such amendment is adopted then the one 
receiving the greater number of affirmative recorded votes shall be 
considered as finally adopted.

``

SEC. 409. CONSIDERATION ON THE FLOOR OF THE SENATE.

 ``

    (a) In General.--Notwithstanding Rule XXII of the Standing Rules 
of the Senate, it is in order, not later than 5 days of session after 
the date on which a bill meeting the requirements of 

section 407
            (c) (4) is reported from the Committee on the Budget of the Senate or the date 
on which any proposal is placed on the calendar after discharge under 

section 407
            (c) (5) , as applicable, for the majority leader of the Senate 
or a Member of the Senate designated by the majority leader of the 
Senate to move to proceed to the consideration of the bill. It shall 
also be in order, notwithstanding Rule XXII of the Standing Rules of 
the Senate, for any Member of the Senate to move to proceed to the 
consideration of the bill at any time after the conclusion of such 5-
day period. A motion to proceed is in order even though a previous 
motion to the same effect has been disagreed to. All points of order 
against the motion to proceed to the bill are waived. The motion is not 
subject to a motion to postpone. A motion to reconsider the vote by 
which the motion is agreed to or disagreed to shall not be in order. 
Consideration of the motion to proceed shall be limited to not more 
than 10 hours equally divided between the majority leader and the 
minority leader or their designees. A motion to proceed shall require 
an affirmative vote of three-fifths of Senators duly chosen and sworn.
 ``

    (b) Extraneous Provisions.--
 ``

    (1) In general.--When the Senate is considering a bill 
 under subsection

    (a) , upon a point of order being made by any 
 Senator against a extraneous material contained in the joint 
 resolution, and the point of order is sustained by the Chair, 
 the provision that contains the extraneous material shall be 
 stricken from the joint resolution.
 ``

    (2) Extraneous material defined.--In this subsection, the 
 term `extraneous material' means--
 ``
        (A) a provision that does not produce a change in 
 outlays or revenue, including changes in outlays and 
 revenues brought about by changes in the terms and 
 conditions under which outlays are made or revenues are 
 required to be collected (but a provision in which 
 outlay decreases or revenue increases exactly offset 
 outlay increases or revenue decreases shall not be 
 considered extraneous by virtue of this subparagraph); 
 or
 ``
        (B) a provision producing changes in outlays or 
 revenues which are merely incidental to the non-
 budgetary components of the provision.
 ``

    (3) Form of the point of order.--A point of order under 
 paragraph

    (1) may be raised by a Senator as provided in 

section 313

    (e) of the Congressional Budget Act of 1974 (2 U.S.C. 
 644

    (e) ).

``

SEC. 410. CONSIDERATION BY OTHER HOUSE.

 ``If a House of Congress receives a bill passed by the other House 
under 

section 408 or 409 and has not yet passed a bill under 

section 408 or 409, the following procedures for consideration shall apply:
 ``

    (1) Expedited consideration in the house of 
 representatives.--
 ``
        (A) Proceeding to consideration.--
 ``
            (i) In general.--It shall be in order, 
 not later than 30 days after the date on which 
 the House of Representatives receives a bill 
 passed by the Senate under 

section 409, to move 
 to proceed to consider the bill in the House of 
 Representatives.
 ``
            (ii) Procedure.--For a motion to proceed 
 to consider a bill under this subparagraph--
 ``
            (I) all points of order against 
 the motion are waived;
 ``
            (II) such a motion shall not be 
 in order after the House of 
 Representatives has disposed of a 
 motion to proceed on the bill;
 ``
            (III) the previous question shall 
 be considered as ordered on the motion 
 to its adoption without intervening 
 motion;
 ``
            (IV) the motion shall not be 
 debatable; and
 ``
            (V) a motion to reconsider the 
 vote by which the motion is disposed of 
 shall not be in order.
 ``
        (B) Consideration.--If the House of 
 Representatives proceeds to consideration of a bill 
 under this paragraph--
 ``
            (i) the bill shall be considered as read;
 ``
            (ii) all points of order against the bill 
 and against its consideration are waived;
 ``
            (iii) the previous question shall be 
 considered as ordered on the bill to its 
 passage without intervening motion except three 
 hours of debate equally divided and controlled 
 by the proponent and an opponent;
 ``
            (iv) an amendment to the bill shall not 
 be in order; and
 ``
            (v) a motion to reconsider the vote on 
 passage of the bill shall not be in order.
 ``

    (2) Expedited consideration in the senate.--
 ``
        (A) Proceeding to consideration.--
 ``
            (i) In general.--Notwithstanding rule 
 XXII of the Standing Rules of the Senate, it is 
 in order, not later than 30 days after the date 
 on which the Senate receives a bill passed 
 under 

section 408 by the House of 
 Representatives, to move to proceed to consider 
 the bill in the Senate.
 ``
            (ii) Procedure.--For a motion to proceed 
 to the consideration of a bill under this 
 paragraph--
 ``
            (I) all points of order against 
 the motion are waived;
 ``
            (II) the motion is not debatable;
 ``
            (III) the motion is not subject 
 to a motion to postpone;
 ``
            (IV) a motion to reconsider the 
 vote by which the motion is agreed to 
 or disagreed to shall not be in order; 
 and
 ``
            (V) if the motion is agreed to, 
 the bill shall remain the unfinished 
 business until disposed of.
 ``
        (B) Floor consideration generally.--If the Senate 
 proceeds to consideration of a bill under this 
 paragraph--
 ``
            (i) all points of order against the bill 
 (and against consideration of the bill) are 
 waived;
 ``
            (ii) consideration of the bill, and all 
 debatable motions and appeals in connection 
 therewith, shall be limited to not more than 20 
 hours, which shall be divided equally between 
 the majority and minority leaders or their 
 designees;
 ``
            (iii) a motion further to limit debate is 
 in order and not debatable;
 ``
            (iv) an amendment to, a motion to 
 postpone, or a motion to recommit the bill is 
 not in order; and
 ``
            (v) a motion to proceed to the 
 consideration of other business is not in 
 order.
 ``
            (C) Vote on passage.--The vote on passage of a 
 bill under this paragraph shall occur immediately 
 following the conclusion of the consideration of the 
 bill, and a single quorum call at the conclusion of the 
 debate if requested in accordance with the rules of the 
 Senate, and shall require an affirmative vote of three-
 fifths of the Members of the Senate duly chosen and 
 sworn.
 ``

    (3) Conferences.--If the Senate and the House of 
 Representatives have both passed the bill in different forms, 
 then a conference committee on the bill shall be considered as 
 ordered and the Speaker of the House of Representatives and the 
 majority leader of the Senate shall immediately appoint 
 Managers to such conference committee to resolve any 
 disagreement between the Houses.''.

    (b) Clerical Amendment.--The table of contents in 

section 1

    (b) of 
the Congressional Budget and Impoundment Control Act of 1974 is amended 
by inserting after the item relating to 

section 406 the following:

``

Sec. 407. Consideration of the debt reduction proposal submitted by 
 the President.
``

Sec. 408. Consideration in the House of Representatives of 
 alternative debt reduction proposals.
``

Sec. 409. Consideration on the floor of the Senate.
``

Sec. 410. Consideration by other house.''.
 <all>