[Congressional Record Volume 169, Number 93 (Wednesday, May 31, 2023)]
[Senate]
[Pages S1849-S1850]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 91. Mr. BRAUN submitted an amendment intended to be proposed by 
him to the bill H.R. 3746, to provide for a responsible increase to the 
debt ceiling; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. RESCISSION OF DISCRETIONARY SPENDING AND HONORING 
                   DEBTS DURING A DEBT CEILING CRISIS.

       (a) Definitions.--In this section:
       (1) Current fiscal year.--The term ``current fiscal year'' 
     means the fiscal year during which the applicable rescission 
     of discretionary appropriations under subsection (b) occurs.
       (2) Debt ceiling crisis period.--The term ``debt ceiling 
     crisis period'' means a period--
       (A) beginning on the date on which, but for subsection (c), 
     the Secretary of the Treasury would not be able to issue 
     obligations under chapter 31 of title 31, United States Code, 
     or other obligations whose principal and interest are 
     guaranteed by the United States Government, because of the 
     limit on the face amount of such obligations that may be 
     outstanding at one time under section 3101(b) of title 31, 
     United States Code; and
       (B) ending on date on which the first measure suspending or 
     increasing the limit under section 3101(b) of title 31, 
     United States Code, is enacted into law after the date 
     described in subparagraph (A).
       (3) Discretionary appropriations.--The term ``discretionary 
     appropriations'' has the meaning given such term in section 
     250(c) of the Balanced Budget and Emergency Deficit Control 
     Act of 1985 (2 U.S.C. 900(c)).
       (b) Rescission of Discretionary Spending.--For each 
     discretionary appropriations account, effective on first day 
     of a debt ceiling crisis period, and every 30 days thereafter 
     until the end of the debt ceiling crisis period, 1 percent of 
     the amount provided for the discretionary appropriations 
     account under the appropriation Act for the current fiscal 
     year is permanently rescinded.
       (c) Temporary Suspension of Debt Ceiling.--
       (1) In general.--Section 3101(b) of title 31, United States 
     Code, shall not apply for the period--
       (A) beginning on the first day of a debt ceiling crisis 
     period; and
       (B) ending on the last day of the debt ceiling crisis 
     period.

[[Page S1850]]

       (2) Special rule relating to obligations issued during 
     extension period.--Effective on the last day of a debt 
     ceiling crisis period, the limitation in effect under section 
     3101(b) of title 31, United States Code, shall be increased 
     to the extent that--
       (A) the face amount of obligations issued under chapter 31 
     of such title and the face amount of obligations whose 
     principal and interest are guaranteed by the United States 
     Government (except guaranteed obligations held by the 
     Secretary of the Treasury) outstanding on the first day of 
     the debt ceiling crisis period; exceeds
       (B) the face amount of such obligations outstanding on the 
     last day of the debt ceiling crisis period.
       (3) Extension limited to necessary obligations.--An 
     obligation shall not be taken into account under paragraph 
     (2)(A) unless the issuance of such obligation was necessary 
     to fund a commitment incurred pursuant to law by the Federal 
     Government that required payment on or before the last day of 
     the applicable debt ceiling crisis period.
       (d) Reports.--
       (1) In general.--Not later than 30 days after the first day 
     of a debt ceiling crisis period, and every 30 days thereafter 
     until the date that is 30 days after the end of the debt 
     ceiling crisis period, the Director of the Office of 
     Management shall submit to Congress a report detailing the 
     rescission of discretionary appropriations under subsection 
     (b) with respect to the debt ceiling crisis period.
       (2) Review by gao.--Not later than 90 days after the date 
     on which the Director of the Office of Management and Budget 
     submits each report under paragraph (1), the Comptroller 
     General of the United States shall submit to Congress a 
     report evaluating the description of the rescission of 
     discretionary appropriations in the report by the Director of 
     the Office of Management and Budget.
                                 ______