I 111th CONGRESS 2d Session H. R. 4587 IN THE HOUSE OF REPRESENTATIVES February 3, 2010 Mr. Neugebauer introduced 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 consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To amend the Congressional Budget Act of 1974 to require spending limits be imposed when the statutory limit on the public debt is increased.

1.

Short title

This Act may be cited as the Cap Spending to Reduce Borrowing Act.

2.

Spending limits when debt ceiling increased

(a)

In general

Section 312 of the Congressional Budget Act of 1974 is amended by adding at the end the following new subsection: (g)

Point of order To require spending limits whenever debt ceiling increases

(1)Except as provided by paragraph (2), it shall not be in order in the House of Representatives or the Senate to consider any bill or joint resolution, or amendment thereto or conference report thereon, that increases the statutory limit on the public debt unless such bill, joint resolution, amendment, or conference report, as the case may be, includes limits on the total level of discretionary spending and on the total level of direct spending for each of 10 consecutive fiscal years beginning with the first fiscal year in which the increase in the statutory limit on the public debt would occur. (2)Paragraph (1) shall not apply to any measure that increases the statutory limit on the public debt if statutory limits on the total level of discretionary spending and on the total level of direct spending for each of 10 consecutive fiscal years beginning with the first fiscal year in which the increase in the statutory limit on the public debt would occur are in place. . (b)

Conforming amendment

Subsections (c)(1) and (d)(2) of section 904 of the Congressional Budget Act of 1974 are each amended by inserting 312(g), after 310(d)(2),.

3.

Repeal of Gephardt rule

The Rules of the House of Representatives are amended by repealing rule XXVIII (relating to the statutory limit on public debt) and redesignating rule XXIX as rule XXVIII.