II Calendar No. 520 109th CONGRESS 2d Session S. 3521 [Report No. 109–283] IN THE SENATE OF THE UNITED STATES June 15, 2006 Mr. Gregg (for himself, Mr. Frist, Mr. Allard, Mr. Enzi, Mr. Sessions, Mr. Crapo, Mr. Ensign, Mr. Cornyn, Mr. Alexander, Mr. Graham, Mr. Kyl, Mr. Thomas, Mr. Craig, Mr. Brownback, Mr. Isakson, Mr. DeMint, Mr. McCain, Mr. Vitter, Mr. Thune, Mr. Chambliss, Mr. McConnell, Mr. Bunning, Mr. Domenici, Mr. Inhofe, Mr. Sununu, Mr. Santorum, Mrs. Dole, Mr. Allen, and Mr. Martinez) introduced the following bill; which was read twice and referred to the Committee on the Budget July 14, 2006 Reported by Mr. Gregg, with an amendment Strike out all after the enacting clause and insert the part printed in italic A BILL To establish a new budget process to create a comprehensive plan to rein in spending, reduce the deficit, and regain control of the Federal budget process.

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Short title: Table of contents.

(a)

Short title

This Act may be cited as the Stop Over Spending Act of 2006. (b)

Table of contents

The table of contents for this Act is as follows: Sec. 1. Short title: Table of contents.. Sec. 2. Purposes. Sec. 3. Severability. TITLE I—Legislative Line Item Veto Act of 2006 Sec. 101. Short title. Sec. 102. Legislative line item veto. TITLE II—Deficit reduction Subtitle A—Definitions, Administration, and Sequestration Sec. 201. Definitions. Sec. 202. Administration, reconciliation, and effect of sequestration. Sec. 203. GAO Compliance Report. Subtitle B—Discretionary Spending Limits Sec. 211. Discretionary Sequestration Reports. Sec. 212. Limits. Subtitle C—Maximum deficit amount limitation Sec. 221. Maximum Deficit Amount. Sec. 222. Reporting of excess deficits. Sec. 223. Congressional response to OMB and CBO Reconciliation Report. Sec. 224. Revised estimates and final maximum deficit amount sequestration reports. Sec. 225. Maximum deficit amount-Presidential order. Sec. 226. Congressional response to low growth. Sec. 227. Exemptions from sequestration. Sec. 228. Submission of President's budget; maximum deficit amount may not be exceeded. TITLE III—Biennial budgetary and appropriations Sec. 301. Revision of timetable. Sec. 302. Amendments to the Congressional Budget and Impoundment Control Act of 1974. Sec. 303. Amendments to title 31, United States Code. Sec. 304. Two-year appropriations; title and style of appropriations Acts. Sec. 305. Multiyear authorizations. Sec. 306. Government plans on a biennial basis. Sec. 307. Biennial appropriation bills. Sec. 308. Report on changes in law. Sec. 309. Effective date. TITLE IV—Commissions Subtitle A—National Commission on Entitlement Solvency Sec. 401. Definitions. Sec. 402. Establishment of Commission. Sec. 403. Expedited consideration of Commission recommendations. Subtitle B—Commission on Congressional Budgetary Accountability and Review of Federal Agencies Sec. 411. Definitions. Sec. 412. Establishment of Commission. Sec. 413. Duties of the Commission. Sec. 414. Powers of the Commission. Sec. 415. Commission personnel matters. Sec. 416. Expedited consideration of reform proposals. Sec. 417. Termination of the Commission. Sec. 418. Authorization of appropriations. TITLE V—Budget process reforms Sec. 501. Definitions. Sec. 502. Annual Concurrent Resolution on the Budget. Sec. 503. Committee allocations. Sec. 504. Budget resolution adoption. Sec. 505. Consideration of the budget resolution. Sec. 506. Budget projections. Sec. 507. Reconciliation. Sec. 508. Budgeting levels. Sec. 509. Determinations and points of order. Sec. 510. Extraneous matter in reconciliation legislation. Sec. 511. Adjustments. Sec. 512. Direct spending limitation. Sec. 513. Appropriations requests of the President.

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Purposes

The purposes of this Act are— (1)to enable the President and Congress to rescind wasteful spending in an expedited manner; (2)to effectively balance the budget by 2012; (3)to reinstate statutory discretionary caps; (4)to reduce the practice of using spending designated as an emergency as a mechanism to circumvent spending caps; (5)to establish targets for the deficit as its share of the United States economy, specifically as a percentage of Gross Domestic Product; (6)to require automatic spending reduction reconciliation directives to achieve annual deficit targets; (7)to put in place automatic sequester procedures to reduce discretionary and mandatory spending when either statutory caps have been exceeded or deficit targets have not been met; (8)to require Congress to act upon legislation to ensure the solvency of the Social Security and Medicare Programs; (9)to require Congress to act upon legislation to identify and eliminate waste and duplication in Federal programs; (10)to establish biennial budgeting; (11)to strengthen and improve the Congressional budget resolution and reconciliation process; and (12)to provide short term and long term solutions to ensure the financial security of our nation so that our children and grandchildren will not be saddled with insurmountable debt.

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Severability

If any provision of this Act, an amendment made by this Act, or the application of such provision or amendment to any person or circumstance is held to be unconstitutional, the remainder of this Act, the amendments made by this Act, and the application of the provisions of such to any person or circumstance shall not be affected thereby.

July 14, 2006 Reported with an amendment