To reduce budget deficits by restoring budget enforcement and strengthening fiscal responsibility.

April 19, 2005

Mr. CONRAD (for himself, Mr. Reid, Mr. Feingold, Ms. Mikulski, Ms. Stabenow, Mr. Inouye, Mr. Leahy, Mr. Salazar, Mr. Rockefeller, Mr. Schumer, Mrs. Feinstein, Mr. Dayton, Mr. Dodd, Mrs. Clinton, Mrs. Boxer, Mr. Dorgan, Mr. KOHL, Mr. Levin, and Mr. Nelson of Florida) introduced the following bill; which was read the first time

April 20, 2005

Read the second time and placed on the calendar

To reduce budget deficits by restoring budget enforcement and strengthening fiscal responsibility.

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 `Fiscal Responsibility for a Sound Future Act'.

SEC. 2. EXTENSION OF THE DISCRETIONARY SPENDING CAPS.

(a) In General- Section 251(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901(c)) is amended to read as follows:

`(c) Discretionary Spending Limit- As used in this part, the term `discretionary spending limit' means, with respect to fiscal year 2005--

`(1) for the discretionary category: $836,268,000,000 in new budget authority and $895,966,000,000 in outlays;

`(2) for the highway category: $31,761,000,000 in outlays; and

`(3) for the mass transit category: $956,000,000 in new budget authority and $6,748,000,000 in outlays;

as adjusted in strict conformance with subsection (b).'.

(b) Commitment of the Senate- Congress should enact a limit on total discretionary spending for fiscal year 2006.

SEC. 3. EXTENSION OF PAY-AS-YOU-GO REQUIREMENT.

Section 252 of the Balanced Budget and Emergency Deficit Control Act of 1985 is amended--

(1) in subsection (a), by striking `enacted before October 1, 2002'; and

(2) in subsection (b), by striking `enacted before October 1, 2002,'.

SEC. 4. EXTENSION OF BUDGET ENFORCEMENT THROUGH 2015.

Section 275 of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900 note) is amended by adding at the end the following:

`(d) Reenactment- Part C of this title is reenacted into law effective for fiscal year 2005. Part C shall expire at the end of fiscal year 2015.'.

SEC. 5. RECONCILIATION FOR DEFICIT REDUCTION IN THE SENATE.

(a) In General- It shall not be in order in the Senate to consider under the expedited procedures applicable to reconciliation in sections 305 and 310 of the Congressional Budget Act of 1974 any bill, resolution, amendment, amendment between Houses, motion, or conference report that increases the deficit in the first fiscal year covered by the most recently adopted concurrent resolution on the budget, the period of the first 5 fiscal years covered by the most recently adopted concurrent resolution on the budget, or the period of the 5 fiscal years following the first 5 fiscal years covered by the most recently adopted concurrent resolution on the budget.

(b) Budget Resolution- It shall not be in order in the Senate to consider pursuant to sections 301, 305, or 310 of the Congressional Budget Act of 1974 pertaining to concurrent resolutions on the budget any resolution, concurrent resolution, amendment, amendment between the Houses, motion, or conference report that contains any reconciliation directive that would increase the deficit in the first fiscal year covered by the most recently adopted concurrent resolution on the budget, the period of the first 5 fiscal years covered by the most recently adopted concurrent resolution on the budget, or the period of the 5 fiscal years following the first 5 fiscal years covered by the most recently adopted concurrent resolution on the budget.

(c) Supermajority Waiver and Appeal- This section may be waived or suspended in the Senate only by an affirmative vote of 3/5 of the Members, duly chosen and sworn. An affirmative vote of 3/5 of the Members of the Senate, duly chosen and sworn, shall be required in the Senate to sustain an appeal of the ruling of the Chair on a point of order raised under this section.

SEC. 6. SENATE PAYGO RULE.

(a) In General- Section 505(a)(5)(A) of H. Con. Res. 95 (108th Congress) is amended by striking `as adjusted for any changes in revenues or direct spending assumed by such resolution'.

(b) Expiration Date- Section 505(e) of H. Con. Res. 95 (108th Congress) is amended by striking `2008' and inserting `2015'.

Calendar No. 83

To reduce budget deficits by restoring budget enforcement and strengthening fiscal responsibility.

April 20, 2005

END