To reimpose statutory pay-as-you-go.

SA 3305. Mr. REID proposed an amendment to amendment SA 3299 proposed
by Mr. Baucus (for Mr. Reid) to the joint resolution H.J. Res. 45,
increasing the statutory limit on the public debt; as follows:

At the appropriate place insert the following:

TITLE __--STATUTORY PAY-AS-YOU-GO ACT OF 2010

SEC. 1. SHORT TITLE.

This title may be cited as the ``Statutory Pay-As-You-Go
Act of 2010''.

SEC. 2. PURPOSE.

The purpose of this title is to reestablish a statutory
procedure to enforce a rule of budget neutrality on new
revenue and direct spending legislation.

[[Page S160]]

SEC. 3. DEFINITIONS AND APPLICATIONS.

As used in this title--
(1) The term ``BBEDCA'' means the Balanced Budget and
Emergency Deficit Control Act of 1985.
(2) The definitions set forth in section 3 of the
Congressional Budget and Impoundment Control Act of 1974 and
in section 250 of BBEDCA shall apply to this title, except to
the extent that they are specifically modified as follows:
(A) The term ``outyear'' means a fiscal year one or more
years after the budget year.
(B) In section 250(c)(8)(C), the reference to the food
stamp program shall be deemed to be a reference to the
Supplemental Nutrition Assistance Program.
(3) The term ``AMT'' means the Alternative Minimum Tax for
individuals under sections 55-59 of the Internal Revenue Code
of 1986, the term ``EGTRRA'' means the Economic Growth and
Tax Relief Reconciliation Act of 2001 (Public Law 107-16),
and the term ``JGTRRA'' means the Jobs and Growth Tax Relief
and Reconciliation Act of 2003 (Public Law 108-27).
(4)(A) The term ``budgetary effects'' means the amount by
which PAYGO legislation changes outlays flowing from direct
spending or revenues relative to the baseline and shall be
determined on the basis of estimates prepared under section
4. Budgetary effects that increase outlays flowing from
direct spending or decrease revenues are termed ``costs'' and
budgetary effects that increase revenues or decrease outlays
flowing from direct spending are termed ``savings''.
Budgetary effects shall not include any costs associated with
debt service.
(B) For purposes of these definitions, off-budget effects
shall not be counted as budgetary effects.
(C) Solely for purposes of recording entries on a PAYGO
scorecard, provisions in appropriation Acts are also
considered to be budgetary effects for purposes of this title
if such provisions make outyear modifications to substantive
law, except that provisions for which the outlay effects net
to zero over a period consisting of the current year, the
budget year, and the 4 subsequent years shall not be
considered budgetary effects. For purposes of this paragraph,
the term, ``modifications to substantive law'' refers to
changes to or restrictions on entitlement law or other
mandatory spending contained in appropriations Acts,
notwithstanding section 250(c)(8) of BBEDCA. Provisions in
appropriations Acts that are neither outyear modifications to
substantive law nor changes in revenues have no budgetary
effects for purposes of this title.
(5) The term ``debit'' refers to the net total amount, when
positive, by which costs recorded on the PAYGO scorecards for
a fiscal year exceed savings recorded on those scorecards for
that year.
(6) The term ``entitlement law'' refers to a section of law
which provides entitlement authority.
(7) The term ``PAYGO legislation'' or a ``PAYGO Act''
refers to a bill or joint resolution that affects direct
spending or revenue relative to the baseline. The budgetary
effects of changes in revenues and outyear modifications to
substantive law included in appropriation Acts as defined in
paragraph (4) shall be treated as if they were contained in
PAYGO legislation or a PAYGO Act.
(8) The term ``timing shift'' refers to a delay of the date
on which outlays flowing from direct spending would otherwise
occur from the ninth outyear to the tenth outyear or an
acceleration of the date on which revenues would otherwise
occur from the tenth outyear to the ninth outyear.

SEC. 4. PAYGO ESTIMATES AND PAYGO SCORECARDS.

(a) PAYGO Estimates.--
(1) Required designation in paygo acts.--
(A) House of representatives.--To establish the budgetary
effects of a PAYGO Act consistent with the determination made
by the Chairman of the House Budget Committee, a PAYGO Act
originated in or amended by the House of Representatives may
include the following statement: ``The budgetary effects of
this Act, for the purpose of complying with the Statutory
Pay-As-You-Go-Act of 2010, shall be determined by reference
to the latest statement titled `Budgetary Effects of PAYGO
Legislation' for this Act, submitted for printing in the
Congressional Record by the Chairman of the House Budget
Committee, provided that such statement has been submitted
prior to the vote on passage.''.
(B) Senate.--To establish the budgetary effects of a PAYGO
Act consistent with the determination made by the Chairman of
the Senate Budget Committee, a PAYGO Act originated in or
amended by the Senate shall include the following statement:
``The budgetary effects of this Act, for the purpose of
complying with the Statutory Pay-As-You-Go-Act of 2010, shall
be determined by reference to the latest statement titled
`Budgetary Effects of PAYGO Legislation' for this Act,
submitted for printing in the Congressional Record by the
Chairman of the Senate Budget Committee, provided that such
statement has been submitted prior to the vote on passage.''.
(C) Conference reports and amendments between the houses.--
To establish the budgetary effects of the conference report
on a PAYGO Act, or an amendment to an amendment between
Houses on a PAYGO Act, which if estimated shall be estimated
jointly by the Chairmen of the House and Senate Budget
Committees, the conference report or amendment between the
Houses shall include the following statement: ``The budgetary
effects of this Act, for the purpose of complying with the
Statutory Pay-As-You-Go-Act of 2010, shall be determined by
reference to the latest statement titled `Budgetary Effects
of PAYGO Legislation' for this Act, jointly submitted for
printing in the Congressional Record by the Chairmen of the
House and Senate Budget Committees, provided that such
statement has been submitted prior to the vote on passage in
the House acting first on this conference report or amendment
between the Houses.''.
(2) Determination of budgetary effects of paygo acts.--
(A) Original legislation.--
(i) Statement and estimate.--Prior to a vote on passage of
a PAYGO Act originated or amended by one House, the Chairman
of the Budget Committee of that House may submit for printing
in the Congressional Record a statement titled ``Budgetary
Effects of PAYGO Legislation'' which shall include an
estimate of the budgetary effects of that Act, if available
prior to passage of the Act by that House and shall submit,
if applicable, an identification of any current policy
adjustments made pursuant to section 7 of this Act. The
timely submission of such a statement, in conjunction with
the appropriate designation made pursuant to paragraph (1)(A)
or (1)(B), as applicable, shall establish the budgetary
effects of the PAYGO Act for the purposes of this Act.
(ii) Effect.--The latest statement submitted by the
Chairman of the Budget Committee of that House prior to
passage shall supersede any prior statements submitted in the
Congressional Record and shall be valid only if the PAYGO Act
is not further amended by either House.
(iii) Failure to submit estimate.--If--

(I) the estimate required by clause (i) has not been
submitted prior to passage by that House;
(II) such estimate has been submitted but is no longer
valid due to a subsequent amendment to the PAYGO Act; or
(III) the designation required pursuant to this subsection
has not been made;

the budgetary effects of the PAYGO Act shall be determined
under subsection (d)(3), provided that this clause shall not
apply if a valid designation is subsequently included in that
PAYGO Act pursuant to paragraph (1)(C) and a statement is
submitted pursuant to subparagraph (B).
(B) Conference reports and amendments between houses.--
(i) In general.--Prior to the adoption of a report of a
committee of conference on a PAYGO Act in either House, or
disposition of an amendment to an amendment between Houses on
a PAYGO Act, the Chairmen of the Budget Committees of the
House and Senate may jointly submit for printing in the
Congressional Record a statement titled ``Budgetary Effects
of PAYGO Legislation'' which shall include an estimate of the
budgetary effects of that Act if available prior to passage
of the Act by the House acting first on the legislation and
shall submit, if applicable, an identification of any current
policy adjustments made pursuant to section 7 of this title.
The timely submission of such a statement, in conjunction
with the appropriate designation made pursuant to paragraph
(1)(C), shall establish the budgetary effects of the PAYGO
Act for the purposes of this Act.
(ii) Failure to submit estimate.--If such estimate has not
been submitted prior to the adoption of a report of a
committee of conference by either House, or if the
designation required pursuant to this subsection has not been
made, the budgetary effects of the PAYGO Act shall be
determined under subsection (d)(3).
(3) Procedure in the senate.--In the Senate, upon
submission of a statement titled ``Budgetary Effects of PAYGO
Legislation'' by the Chairman of the Senate Budget Committee
for printing in the Congressional Record, the Legislative
Clerk shall read the statement.
(4) Jurisdiction of the budget committees.--For the
purposes of enforcing section 306 of the Congressional Budget
Act of 1974, a designation made pursuant to paragraph (1)(A),
(1)(B), or (1)(C), that includes only the language
specifically prescribed therein, shall not be considered a
matter within the jurisdiction of either the Senate or House
Committees on the Budget.
(b) CBO PAYGO Estimates.--
(1) In general.--
(A) Estimates.--Section 308(a) of the Congressional Budget
Act of 1974 is amended by adding at the end the following new
paragraph:
``(3) CBO paygo estimates.--
``(A) The Chairs of the Committees on the Budget of the
House and Senate, as applicable, shall request from the
Director of the Congressional Budget Office an estimate of
the budgetary effects of PAYGO legislation.
``(B) Estimates shall be prepared using baseline estimates
supplied by the Congressional Budget Office, consistent with
section 257 of the Balanced Budget and Emergency Deficit
Control Act of 1985.
``(C) The Director shall not count timing shifts, as that
term is defined at section 3(8) of the Statutory Pay-As-You-
Go Act of 2010, in estimates of the budgetary effects of
PAYGO Legislation.''.
(B) Sideheading.--The side heading of section 308(a) of the
Congressional Budget Act of 1974 is amended by striking
``Reports on''

[[Page S161]]

(2) Guidelines.--Section 308 of the Congressional Budget
Act of 1974 is amended by adding at the end the following new
subsection:
``(d) Scorekeeping Guidelines.--Estimates under this
section shall be provided in accordance with the scorekeeping
guidelines determined under section 252(d)(5) of the Balanced
Budget and Emergency Deficit Control Act of 1985.''.
(c) Current Policy Adjustments for Certain Legislation.--
(1) In general.--For any provision of legislation that
meets the criteria in subsection (c), (d), (e) or (f) of
section 7, the Chairs of the Committees on the Budget of the
House and Senate, as applicable, shall request that CBO
adjust the estimate of budgetary effects of that legislation
pursuant to paragraph (2) for the purposes of this title. A
single piece of legislation may contain provisions that meet
criteria in more than one of the subsections referred to in
the preceding sentence. CBO shall adjust estimates for
legislation designated under subsection (a) and estimated
under subsection (b). OMB shall adjust estimates for
legislation estimated under subsection (d)(3).
(2) Adjustments.--
(A) Estimates.--CBO or OMB, as applicable, shall exclude
from the estimate of budgetary effects any budgetary effects
of a provision that meets the criteria in subsection (c),
(d), (e) or (f) of section 7, to the extent that those
budgetary effects, when combined with all other excluded
budgetary effects of any other previously designated
provisions of enacted legislation under the same subsection
of section 7, do not exceed the maximum applicable current
policy adjustment defined under the applicable subsection of
section 7 for the applicable 10-year period.
(B) Baseline.--Any estimate made pursuant to subparagraph
(A) shall be prepared using baseline estimates supplied by
the Congressional Budget Office, consistent with section 257
of the BBEDCA. CBO estimates of legislation adjusted for
current policy shall include a separate presentation of costs
excluded from the calculation of budgetary effects for the
legislation, as well as an updated total of all excluded
costs of provisions within subsection (c), (d), or (e) of
section 7, as applicable, and in the case of paragraph (1) of
section 7(f), within any of the subparagraphs (A) through (L)
of such paragraph, as applicable.
(3) Limitation on availability of excess savings.--
(A) Prohibition on use of excess saving for ineligible
policies.--To the extent the adjustment for current policy of
any provision estimated under this subsection exceeds the
estimated budgetary effects of that provision, these excess
savings shall not be available to offset the costs of any
provisions not otherwise eligible for a current policy
adjustment under section 7, and shall not be counted on the
PAYGO scorecards established pursuant to subsections (d)(4)
and (d)(5).
(B) Prohibition on use of excess savings across budget
areas.--For provisions eligible for a current policy
adjustment under subsections (c) through (f) of section 7, to
the extent the adjustment for current policy of any provision
exceeds the estimated budgetary effects of that same
provision, the excess savings shall be available only to
offset the costs of other provisions that qualify for a
current policy adjustment in that same subsection. Each
paragraph in section 7(f)(1) shall be considered a separate
subsection for purposes of this section.
(4) Further guidance on estimating budgetary effects.--
Estimates of budgetary effects under this subsection shall be
consistent with the guidance provided at section 7(h).
(5) Inclusion of statement.--For PAYGO legislation adjusted
pursuant to section 7, the Chairman of the House or Senate
Budget Committee, as applicable, shall include in any
statement titled ``Budgetary Effects of PAYGO Legislation'',
submitted for that legislation pursuant to section 4, an
explanation of the current policy designation and
adjustments.
(d) OMB PAYGO Scorecards.--
(1) In general.--OMB shall maintain and make publicly
available a continuously updated document containing two
PAYGO scorecards displaying the budgetary effects of PAYGO
legislation as determined under section 308 of the
Congressional Budget Act of 1974, applying the look-back
requirement in subsection (e) and the averaging requirement
in subsection (f), and a separate addendum displaying the
estimates of the costs of provisions designated in statute as
emergency requirements.
(2) Estimates in legislation.--Except as provided in
paragraph (3), in making the calculations for the PAYGO
scorecards, OMB shall use the budgetary effects included by
reference in the applicable legislation pursuant to
subsection (a).
(3) OMB paygo estimates.--If a PAYGO Act does not contain a
valid reference to its budgetary effects consistent with
subsection (a), OMB shall estimate the budgetary effects of
that legislation upon its enactment. The OMB estimate shall
be based on the approaches to scorekeeping set forth in
section 308 of the Congressional Budget Act of 1974, as
amended by this title, and subsection (g)(4), and shall use
the same economic and technical assumptions as used in the
most recent budget submitted by the President under section
1105(a) of title 31 of the United States Code.
(4) 5-year scorecard.--The first scorecard shall display
the budgetary effects of PAYGO legislation in each year over
the 5-year period beginning in the budget year.
(5) 10-year scorecard.--The second scorecard shall display
the budgetary effects of PAYGO legislation in each year over
the 10-year period beginning in the budget year.
(6) Community living assistance services and supports
act.--Neither scorecard maintained by OMB pursuant to this
subsection shall include net savings from any provisions of
legislation titled ``Community Living Assistance Services and
Supports Act'', which establishes a Federal insurance program
for long-term care, if such legislation is enacted into law,
or amended, subsequent to the date of enactment of this
title.
(e) Look-Back To Capture Current-Year Effects.--For
purposes of this section, OMB shall treat the budgetary
effects of PAYGO legislation enacted during a session of
Congress that occur during the current year as though they
occurred in the budget year.
(f) Averaging Used to Measure Compliance Over 5-Year and
10-Year Periods.--OMB shall cumulate the budgetary effects of
a PAYGO Act over the budget year (which includes any look-
back effects under subsection (e)) and--
(1) for purposes of the 5-year scorecard referred to in
subsection (d)(4), the four subsequent outyears, divide that
cumulative total by five, and enter the quotient in the
budget-year column and in each subsequent column of the 5-
year PAYGO scorecard; and
(2) for purposes of the 10-year scorecard referred to in
subsection (d)(5), the nine subsequent outyears, divide that
cumulative total by ten, and enter the quotient in the
budget-year column and in each subsequent column of the 10-
year PAYGO scorecard.
(g) Emergency Legislation.--
(1) Designation in statute.--If a provision of direct
spending or revenue legislation in a PAYGO Act is enacted as
an emergency requirement that the Congress so designates in
statute pursuant to this section, the amounts of new budget
authority, outlays, and revenue in all fiscal years resulting
from that provision shall be treated as an emergency
requirement for the purposes of this Act.
(2) Designation in the house of representatives.--If a
PAYGO Act includes a provision expressly designated as an
emergency for the purposes of this title, the Chair shall put
the question of consideration with respect thereto.
(3) Point of order in the senate.--
(A) In general.--When the Senate is considering a PAYGO
Act, if a point of order is made by a Senator against an
emergency designation in that measure, that provision making
such a designation shall be stricken from the measure and may
not be offered as an amendment from the floor.
(B) Supermajority waiver and appeals.--
(i) Waiver.--Subparagraph (A) may be waived or suspended in
the Senate only by an affirmative vote of three-fifths of the
Members, duly chosen and sworn.
(ii) Appeals.--Appeals in the Senate from the decisions of
the Chair relating to any provision of this subsection shall
be limited to 1 hour, to be equally divided between, and
controlled by, the appellant and the manager of the bill or
joint resolution, as the case may be. An affirmative vote of
three-fifths of the Members of the Senate, duly chosen and
sworn, shall be required to sustain an appeal of the ruling
of the Chair on a point of order raised under this
subsection.
(C) Definition of an emergency designation.--For purposes
of subparagraph (A), a provision shall be considered an
emergency designation if it designates any item as an
emergency requirement pursuant to this subsection.
(D) Form of the point of order.--A point of order under
subparagraph (A) may be raised by a Senator as provided in
section 313 (e) of the Congressional Budget Act of 1974.
(E) Conference reports.--When the Senate is considering a
conference report on, or an amendment between the Houses in
relation to, a PAYGO Act, upon a point of order being made by
any Senator pursuant to this section, and such point of order
being sustained, such material contained in such conference
report shall be deemed stricken, and the Senate shall proceed
to consider the question of whether the Senate shall recede
from its amendment and concur with a further amendment, or
concur in the House amendment with a further amendment, as
the case may be, which further amendment shall consist of
only that portion of the conference report or House
amendment, as the case may be, not so stricken. Any such
motion in the Senate shall be debatable. In any case in which
such point of order is sustained against a conference report
(or Senate amendment derived from such conference report by
operation of this subsection), no further amendment shall be
in order.
(4) Effect of designation on scoring.--If a provision is
designated as an emergency requirement under this Act, CBO or
OMB, as applicable, shall not include the budgetary effects
of such a provision in its estimate of the budgetary effects
of that PAYGO legislation.

SEC. 5. ANNUAL REPORT AND SEQUESTRATION ORDER.

(a) Annual Report.--Not later than 14 days (excluding
weekends and holidays) after Congress adjourns to end a
session, OMB shall make publicly available and cause to be
printed in the Federal Register an annual PAYGO report. The
report shall include an

[[Page S162]]

up-to-date document containing the PAYGO scorecards, a
description of any current policy adjustments made under
section 4(c), information about emergency legislation (if
any) designated under section 4(g), information about any
sequestration if required by subsection (b), and other data
and explanations that enhance public understanding of this
title and actions taken under it.
(b) Sequestration Order.--If the annual report issued at
the end of a session of Congress under subsection (a) shows a
debit on either PAYGO scorecard for the budget year, OMB
shall prepare and the President shall issue and include in
that report a sequestration order that, upon issuance, shall
reduce budgetary resources of direct spending programs by
enough to offset that debit as prescribed in section 6. If
there is a debit on both scorecards, the order shall fully
offset the larger of the two debits. OMB shall transmit the
order and the report to the House of Representatives and the
Senate. If the President issues a sequestration order, the
annual report shall contain, for each budget account to be
sequestered, estimates of the baseline level of budgetary
resources subject to sequestration, the amount of budgetary
resources to be sequestered, and the outlay reductions that
will occur in the budget year and the subsequent fiscal year
because of that sequestration.

SEC. 6. CALCULATING A SEQUESTRATION.

(a) Reducing Nonexempt Budgetary Resources by a Uniform
Percentage.--
(1) In general.--OMB shall calculate the uniform percentage
by which the budgetary resources of nonexempt direct spending
programs are to be sequestered such that the outlay savings
resulting from that sequestration, as calculated under
subsection (b), shall offset the budget-year debit, if any,
on the applicable PAYGO scorecard. If the uniform percentage
calculated under the prior sentence exceeds 4 percent, the
Medicare programs described in section 256(d) of BBEDCA shall
be reduced by 4 percent and the uniform percentage by which
the budgetary resources of all other nonexempt direct
spending programs are to be sequestered shall be increased,
as necessary, so that the sequestration of Medicare and of
all other nonexempt direct spending programs together produce
the required outlay savings.
(2) Programs and activities in unified budget only.--
Subject to the exemptions set forth in section 11, OMB shall
determine the uniform percentage required under paragraph (1)
with respect to programs and activities contained in the
unified budget only.
(b) Outlay Savings.--In determining the amount by which a
sequestration offsets a budget-year debit, OMB shall count--
(1) the amount by which the sequestration in a crop year of
crop support payments, pursuant to section 256(j) of BBEDCA,
reduces outlays in the budget year and the subsequent fiscal
year;
(2) the amount by which the sequestration of Medicare
payments in the 12-month period following the sequestration
order, pursuant to section 256(d) of BBEDCA, reduces outlays
in the budget year and the subsequent fiscal year; and
(3) the amount by which the sequestration in the budget
year of the budgetary resources of other nonexempt mandatory
programs reduces outlays in the budget year and in the
subsequent fiscal year.

SEC. 7. ADJUSTMENT FOR CURRENT POLICIES.

(a) Purpose.--The purpose of this section is to provide for
adjustments of estimates of budgetary effects of PAYGO
legislation for legislation affecting 4 areas of the budget--
(1) payments made under section 1848 of the Social Security
Act (referred to in this section as ``Payment for Physicians'
Services'');
(2) the Estate and Gift Tax under subtitle B of the
Internal Revenue Code of 1986;
(3) the AMT; and
(4) provisions of EGTRRA or JGTRRA that amended the
Internal Revenue Code of 1986 (or provisions in later
statutes further amending the amendments made by EGTRRA or
JGTRRA), other than--
(A) the provisions of those 2 Acts that were made permanent
by the Pension Protection Act of 2006 (Public Law 109-280);
(B) amendments to the Estate and Gift Tax referred to in
paragraph (2);
(C) the AMT referred to in paragraph (3); and
(D) the income tax rates on ordinary income that apply to
individuals with adjusted gross incomes greater than $200,000
for a single filer and $250,000 for joint filers.
(b) Duration.--This section shall remain in effect through
December 31, 2011.
(c) Medicare Payments to Physicians.--
(1) Criteria.--Legislation that includes provisions
amending or superseding the system for updating payments
under subsections (d) and (f) of section 1848 of the Social
Security Act shall trigger the current policy adjustment
required by this title.
(2) Adjustment.--The amount of the maximum current policy
adjustment shall be the difference between--
(A) estimated net outlays attributable to the payment rates
and related parameters in accordance with subsections (d) and
(f) of section 1848 of the Social Security Act (as scheduled
on December 31, 2009, to be in effect); and
(B) what those net outlays would have been if--
(i) the nominal payment rates and related parameters in
effect for 2009 had been in effect through December 31, 2014,
without change; and
(ii) thereafter, the nominal payment rates and related
parameters described in subparagraph (A) had applied and the
assumption described in clause (i) had never applied.
(3) Limitation.--If the provisions in the legislation that
cause it to meet the criteria in paragraph (1) cover a time
period that ends before December 31, 2014, subject to the
maximum adjustment provided for under paragraph (2), the
amount of each current policy adjustment made pursuant to
this section shall be limited to the difference between--
(A) estimated net outlays attributable to the payment rates
and related parameters specified in that section of the
Social Security Act (as scheduled on December 31, 2009, to be
in effect for the period of time covered by the relevant
provisions of the eligible legislation); and
(B) what those net outlays would have been if the nominal
payment rates and related parameters in effect for 2009 had
been in effect, without change, for the same period of time
covered by the relevant provisions of the eligible
legislation as under subparagraph (A).
(d) Estate and Gift Tax.--
(1) Criteria.--Legislation that includes provisions
amending the Estate and Gift Tax under subtitle B of the
Internal Revenue Code of 1986 shall trigger the current
policy adjustment required by this title.
(2) Adjustment.--The amount of the maximum current policy
adjustment shall be the difference between--
(A) total revenues projected to be collected under the
Internal Revenue Code of 1986 (as scheduled on December 31,
2009, to be in effect); and
(B) what those revenue collections would have been if, on
the date of enactment of the legislation meeting the criteria
in paragraph (1), estate and gift tax law had instead been
amended so that the tax rates, nominal exemption amounts, and
related parameters in effect for tax year 2009 had remained
in effect through December 31, 2011, with nominal exemption
amounts indexed for inflation after 2009 consistent with
subsection (g).
(3) Limitation.--If the provisions in the legislation that
cause it to meet the criteria in paragraph (1) cover a time
period that ends before December 31, 2011, subject to the
maximum adjustment provided for under paragraph (2), the
amount of each current policy adjustment made pursuant to
this section shall be limited to the difference between--
(A) total revenues projected to be collected under the
Internal Revenue Code of 1986 (as scheduled on December 31,
2009, to be in effect for the period of time covered by the
relevant provisions of the eligible legislation); and
(B) what those revenues would have been if the estate and
gift tax law rates, nominal exemption amounts, and related
parameters in effect for 2009, with nominal exemption amounts
indexed for inflation after 2009 consistent with subsection
(g), had been in effect for the same period of time covered
by the relevant provisions of the eligible legislation as
under subparagraph (A).
(4) Duration of policy adjustment.--Adjustments made
pursuant to this subsection are available for policies
affecting the estate and gift tax through only December 31,
2011. Any adjustments shall include budgetary effects in all
years from these policy changes.
(e) AMT Relief.--
(1) Criteria.--Legislation that includes provisions
extending AMT relief shall trigger the current policy
adjustment required by this title.
(2) Adjustment.--The amount of the maximum current policy
adjustment shall be the difference between--
(A) total revenues projected to be collected under the
Internal Revenue Code of 1986 (as scheduled on December 31,
2009, to be in effect); and
(B) what those revenue collections would have been if, on
the date of enactment of legislation meeting the criteria in
paragraph (1), AMT law had instead been amended by making
commensurate adjustments in the exemption amounts for joint
and single filers in such a manner that the number of
taxpayers with AMT liability or lost credits that occur as a
result of the AMT would not be estimated to exceed the number
of taxpayers affected by the AMT in tax year 2008 in any year
for which relief is provided, through December 31, 2011.
(3) Limitation.--If the provisions in the legislation that
cause it to meet the criteria in paragraph (1) cover a time
period that ends before December 31, 2011, subject to the
maximum adjustment provided for under paragraph (2), the
amount of each current policy adjustment made pursuant to
this section shall be limited to the difference between--
(A) total revenues projected to be collected under the
Internal Revenue Code of 1986 (as scheduled on December 31,
2009, to be in effect for the period of time covered by the
relevant provisions of the eligible legislation); and
(B) what those revenues would have been if, on the date of
enactment of legislation meeting the criteria in paragraph
(1), AMT law had instead been amended by making commensurate
adjustments in the exemption amounts for joint and single
filers in such a manner that the number of taxpayers with AMT
liability or lost credits that occur as a result of the AMT
would not be estimated to exceed the number of AMT taxpayers
in tax year 2008 for the same period of time covered by the
relevant provisions of the eligible legislation as under
subparagraph (A).

[[Page S163]]

(4) Duration of policy adjustment.--Adjustments made
pursuant to this subsection are available for policies
affecting the AMT through only December 31, 2011. Any
adjustments shall include budgetary effects in all years from
these policy changes.
(f) Permanent Extension of Middle-Class Tax Cuts.--
(1) Criteria.--Legislation that includes provisions
extending middle-class tax cuts shall trigger the current
policy adjustment required by this title if those provisions
extend 1 or more of the following provisions:
(A) The 10 percent bracket as in effect for tax year 2010,
as provided for under section 101(a) of EGTRRA and any later
amendments through December 31, 2009.
(B) The child tax credit as in effect for tax year 2010, as
provided for under section 201 of EGTRRA and any later
amendments through December 31, 2009.
(C) Tax benefits for married couples as in effect for tax
year 2010, as provided for under title III of EGTRRA and any
later amendments through December 31, 2009.
(D) The adoption credit as in effect in tax year 2010, as
provided for under section 202 of EGTRRA and any later
amendments through December 31, 2009.
(E) The dependent care credit as in effect in tax year
2010, as provided for under section 204 of EGTRRA and any
later amendments through December 31, 2009.
(F) The employer-provided child care credit as in effect in
tax year 2010, as provided for under section 205 of EGTRRA
and any later amendments through December 31, 2009.
(G) The education tax benefits as in effect in tax year
2010, as provided for under title IV of EGTRRA and any later
amendments through December 31, 2009.
(H) The 25 and 28 percent brackets as in effect for tax
year 2010, as provided for under section 101(a) of EGTRRA and
any later amendments through December 31, 2009.
(I) The 33 percent bracket as in effect for tax year 2010,
as provided for under section 101(a) of EGTRRA and any later
amendment through December 31, 2009, affecting taxpayers with
adjusted gross income of $200,000 or less for single filers
and $250,000 or less for joint filers in tax year 2010, with
these income levels indexed for inflation in each subsequent
year consistent with subsection (g).
(J) The rates on income derived from capital gains and
qualified dividends as in effect for tax year 2010, as
provided for under sections 301 and 302 of JGTRRA and any
later amendment through December 31, 2009, affecting
taxpayers with adjusted gross income of $200,000 or less for
single filers and $250,000 for joint filers with these income
levels indexed for inflation in each subsequent year
consistent with subsection (g).
(K) The phaseout of personal exemptions and the overall
limitation on itemized deductions as in effect for tax year
2010, as provided for under sections 102 and 103 of EGTRRA of
2001, respectively, and any later amendment through December
31, 2009, affecting taxpayer with adjusted gross income of
$200,000 or less for single filers and $250,000 for joint
filers, with these income levels indexed for inflation in
each subsequent year consistent with subsection (g).
(L) The increase in the limitations on expensing
depreciable business assets for small businesses under
section 179(b) of the Internal Revenue Code of 1986 as in
effect in tax year 2010, as provided under section 202 of
JGTRRA and any later amendment through December 31, 2009.
(2) Adjustment.--The amount of the maximum current policy
adjustment shall be the difference between--
(A) total revenues projected to be collected and outlays to
be paid under the Internal Revenue Code of 1986 (as scheduled
on December 31, 2009, to be in effect); and
(B) what those revenue collections and outlay payments
would have been if, on the date of enactment of legislation
meeting the criteria in paragraph (1), the provisions
identified in paragraph (1) were made permanent.
(3) Limitation.--If the provisions in the legislation that
cause it to meet the criteria in paragraph (1) are not
permanent, subject to the maximum adjustment provided for
under paragraph (2), the amount of each current policy
adjustment made pursuant to this section shall be limited to
the difference between--
(A) total revenues projected to be collected and outlays to
be paid under the Internal Revenue Code of 1986 (as scheduled
on December 31, 2009, to be in effect for the period of time
covered by the relevant provisions of the eligible
legislation); and
(B) what those revenue collections and outlay payments
would have been if, on the date of enactment of legislation
meeting the criteria in paragraph (1), the provisions
identified in paragraph (1) had been in effect, without
change, for the same period of time covered by the relevant
provisions of the eligible legislation as under subparagraph
(A).
(g) Indexing for Inflation.--Indexed amounts are assumed to
increase in each year by an amount equal to the cost-of-
living adjustment determined under section 1(f)(3) of the
Internal Revenue Code of 1986 for the calendar year in which
the taxable year begins, determined by substituting
``calendar year 2008'' for ``calendar year 1992'' in
subparagraph (B) of such section.
(h) Guidance on Estimates and Current Policy Adjustments.--
(1) Middle class tax cuts.--For purposes of estimates made
pursuant to subsection (f)--
(A) each of the income tax provisions shall be estimated as
though the AMT had remained at current law as scheduled on
December 31, 2009 to be in effect; and
(B) if more than 1 of the income tax provisions is included
in a single piece of legislation, those provisions shall be
estimated in the order in which they appear.
(2) AMT.--For purposes of estimates made pursuant to
subsection (e), changes to the AMT shall be estimated as if,
on the date of enactment of legislation meeting the criteria
in subsection (e)(1), all of the income tax provisions
identified in subsection (f)(1) were made permanent.

SEC. 8. APPLICATION OF BBEDCA.

For purposes of this title--
(1) notwithstanding section 275 of BBEDCA, the provisions
of sections 255, 256, 257, and 274 of BBEDCA, as amended by
this title, shall apply to the provisions of this title;
(2) references in sections 255, 256, 257, and 274 to ``this
part'' or ``this title'' shall be interpreted as applying to
this title;
(3) references in sections 255, 256, 257, and 274 of BBEDCA
to ``section 254'' shall be interpreted as referencing
section 5 of this title;
(4) the reference in section 256(b) of BBEDCA to ``section
252 or 253'' shall be interpreted as referencing section 5 of
this title;
(5) the reference in section 256(d)(1) of BBEDCA to
``section 252 or 253'' shall be interpreted as referencing
section 6 of this title;
(6) the reference in section 256(d)(4) of BBEDCA to
``section 252 or 253'' shall be interpreted as referencing
section 5 of this title;
(7) section 256(k) of BBEDCA shall apply to a
sequestration, if any, under this title; and
(8) references in section 257(e) of BBEDCA to ``section
251, 252, or 253'' shall be interpreted as referencing
section 4 of this title.

SEC. 9. TECHNICAL CORRECTIONS.

(a) Section 250(c)(18) of BBEDCA is amended by striking
``the expenses the Federal deposit insurance agencies'' and
inserting ``the expenses of the Federal deposit insurance
agencies''.
(b) Section 256(k)(1) of BBEDCA is amended by striking ``in
paragraph (5)'' and inserting ``in paragraph (6)''.

SEC. 10. CONFORMING AMENDMENTS.

(a) Section 256(a) of BBEDCA is repealed.
(b) Section 256(b) of BBEDCA is amended by striking
``origination fees under sections 438(c)(2) and 455(c) of
that Act shall each be increased by 0.50 percentage point.''
and inserting in lieu thereof ``origination fees under
sections 438(c)(2) and (6) and 455(c) and loan processing and
issuance fees under section 428(f)(1)(A)(ii) of that Act
shall each be increased by the uniform percentage specified
in that sequestration order, and, for student loans
originated during the period of the sequestration, special
allowance payments under section 438(b) of that Act accruing
during the period of the sequestration shall be reduced by
the uniform percentage specified in that sequestration
order.''.
(c) Section 256(c) of BBEDCA is repealed.
(d) Section 256(d) of BBEDCA is amended--
(1) by redesignating paragraphs (2), (3), and (4) as
paragraphs (3), (5), and (6);
(2) by amending paragraph (1) to read as follows:
``(1) Calculation of reduction in payment amounts.--To
achieve the total percentage reduction in those programs
required by section 252 or 253, subject to paragraph (2), and
notwithstanding section 710 of the Social Security Act, OMB
shall determine, and the applicable Presidential order under
section 254 shall implement, the percentage reduction that
shall apply, with respect to the health insurance programs
under title XVIII of the Social Security Act--
``(A) in the case of parts A and B of such title, to
individual payments for services furnished during the one-
year period beginning on the first day of the first month
beginning after the date the order is issued (or, if later,
the date specified in paragraph (4)); and
``(B) in the case of parts C and D, to monthly payments
under contracts under such parts for the same one-year
period;
such that the reduction made in payments under that order
shall achieve the required total percentage reduction in
those payments for that period.''.
(3) by inserting after paragraph (1) the following:
``(2) Uniform reduction rate; maximum permissible
reduction.--Reductions in payments for programs and
activities under such title XVIII pursuant to a sequestration
order under section 254 shall be at a uniform rate, which
shall not exceed 4 percent, across all such programs and
activities subject to such order.'';
(4) by inserting after paragraph (3), as redesignated, the
following:
``(4) Timing of subsequent sequestration order.--A
sequestration order required by section 252 or 253 with
respect to programs under such title XVIII shall not take
effect until the first month beginning after the end of the
effective period of any prior sequestration order with
respect to such programs, as determined in accordance with
paragraph (1).'';
(5) in paragraph (6), as redesignated, to read as follows:
``(6) Sequestration disregarded in computing payment
amounts.--The Secretary of Health and Human Services shall
not take into account any reductions in payment

[[Page S164]]

amounts which have been or may be effected under this part,
for purposes of computing any adjustments to payment rates
under such title XVIII, specifically including--
``(A) the part C growth percentage under section
1853(c)(6);
``(B) the part D annual growth rate under section 1860D-
2(b)(6); and
``(C) application of risk corridors to part D payment rates
under section 1860D-15(e).''; and
(6) by adding after paragraph (6), as redesignated, the
following:
``(7) Exemptions from sequestration.--In addition to the
programs and activities specified in section 255, the
following shall be exempt from sequestration under this part:
``(A) Part d low-income subsidies.--Premium and cost-
sharing subsidies under section 1860D-14 of the Social
Security Act.
``(B) Part d catastrophic subsidy.--Payments under section
1860D-15(b) and (e)(2)(B) of the Social Security Act.
``(C) Qualified individual (qi) premiums.--Payments to
States for coverage of Medicare cost-sharing for certain low-
income Medicare beneficiaries under section 1933 of the
Social Security Act.''.

SEC. 11. EXEMPT PROGRAMS AND ACTIVITIES.

(a) Designations.--Section 255 of BBEDCA is amended by
redesignating subsection (i) as (j) and striking ``1998'' and
inserting in lieu thereof ``2010''.
(b) Social Security, Veterans Programs, Net Interest, and
Tax Credits.--Subsections (a) through (d) of section 255 of
BBEDCA are amended to read as follows:
``(a) Social Security Benefits and Tier I Railroad
Retirement Benefits.--Benefits payable under the old-age,
survivors, and disability insurance program established under
title II of the Social Security Act (42 U.S.C. 401 et seq.),
and benefits payable under section 231b(a), 231b(f)(2),
231c(a), and 231c(f) of title 45 United States Code, shall be
exempt from reduction under any order issued under this part.
``(b) Veterans Programs.--The following programs shall be
exempt from reduction under any order issued under this part:
``All programs administered by the Department of Veterans
Affairs.
``Special Benefits for Certain World War II Veterans (28-
0401-0-1-701).
``(c) Net Interest.--No reduction of payments for net
interest (all of major functional category 900) shall be made
under any order issued under this part.
``(d) Refundable Income Tax Credits.--Payments to
individuals made pursuant to provisions of the Internal
Revenue Code of 1986 establishing refundable tax credits
shall be exempt from reduction under any order issued under
this part.''.
(c) Other Programs and Activities, Low-Income Programs, and
Economic Recovery Programs.--Subsections (g) and (h) of
section 255 of BBEDCA are amended to read as follows:
``(g) Other Programs and Activities.--
``(1)(A) The following budget accounts and activities shall
be exempt from reduction under any order issued under this
part:
``Activities resulting from private donations, bequests, or
voluntary contributions to the Government.
``Activities financed by voluntary payments to the
Government for goods or services to be provided for such
payments.
``Administration of Territories, Northern Mariana Islands
Covenant grants (14-0412-0-1-808).
``Advances to the Unemployment Trust Fund and Other Funds
(16-0327-0-1-600).
``Black Lung Disability Trust Fund Refinancing (16-0329-0-
1-601).
``Bonneville Power Administration Fund and borrowing
authority established pursuant to section 13 of Public Law
93-454 (1974), as amended (89-4045-0-3-271).
``Claims, Judgments, and Relief Acts (20-1895-0-1-808).
``Compact of Free Association (14-0415-0-1-808).
``Compensation of the President (11-0209-01-1-802).
``Comptroller of the Currency, Assessment Funds (20-8413-0-
8-373).
``Continuing Fund, Southeastern Power Administration (89-
5653-0-2-271).
``Continuing Fund, Southwestern Power Administration (89-
5649-0-2-271).
``Dual Benefits Payments Account (60-0111-0-1-601).
``Emergency Fund, Western Area Power Administration (89-
5069-0-2-271).
``Exchange Stabilization Fund (20-4444-0-3-155).
``Farm Credit Administration Operating Expenses Fund (78-
4131-0-3-351).
``Farm Credit System Insurance Corporation, Farm Credit
Insurance Fund (78-4171-0-3-351).
``Federal Deposit Insurance Corporation, Deposit Insurance
Fund (51-4596-0-4-373).
``Federal Deposit Insurance Corporation, FSLIC Resolution
Fund (51-4065-0-3-373).
``Federal Deposit Insurance Corporation, Noninterest
Bearing Transaction Account Guarantee (51-4458-0-3-373).
``Federal Deposit Insurance Corporation, Senior Unsecured
Debt Guarantee (51-4457-0-3-373).
``Federal Home Loan Mortgage Corporation (Freddie Mac).
``Federal Housing Finance Agency, Administrative Expenses
(95-5532-0-2-371).
``Federal National Mortgage Corporation (Fannie Mae).
``Federal Payment to the District of Columbia Judicial
Retirement and Survivors Annuity Fund (20-1713-0-1-752).
``Federal Payment to the District of Columbia Pension Fund
(20-1714-0-1-601).
``Federal Payments to the Railroad Retirement Accounts (60-
0113-0-1-601).
``Federal Reserve Bank Reimbursement Fund (20-1884-0-1-
803).
``Financial Agent Services (20-1802-0-1-803).
``Foreign Military Sales Trust Fund (11-8242-0-7-155).
``Hazardous Waste Management, Conservation Reserve Program
(12-4336-0-3-999).
``Host Nation Support Fund for Relocation (97-8337-0-7-
051).
``Internal Revenue Collections for Puerto Rico (20-5737-0-
2-806).
``Intragovernmental funds, including those from which the
outlays are derived primarily from resources paid in from
other government accounts, except to the extent such funds
are augmented by direct appropriations for the fiscal year
during which an order is in effect.
``Medical Facilities Guarantee and Loan Fund (75-9931-0-3-
551).
``National Credit Union Administration, Central Liquidity
Facility (25-4470-0-3-373).
``National Credit Union Administration, Corporate Credit
Union Share Guarantee Program (25-4476-0-3-376).
``National Credit Union Administration, Credit Union
Homeowners Affordability Relief Program (25-4473-0-3-371).
``National Credit Union Administration, Credit Union Share
Insurance Fund (25-4468-0-3-373).
``National Credit Union Administration, Credit Union System
Investment Program (25-4474-0-3-376).
``National Credit Union Administration, Operating fund (25-
4056-0-3-373).
``National Credit Union Administration, Share Insurance
Fund Corporate Debt Guarantee Program (25-4469-0-3-376).
``National Credit Union Administration, U.S. Central
Federal Credit Union Capital Program (25-4475-0-3-376).
``Office of Thrift Supervision (20-4108-0-3-373).
``Panama Canal Commission Compensation Fund (16-5155-0-2-
602).
``Payment of Vietnam and USS Pueblo prisoner-of-war claims
within the Salaries and Expenses, Foreign Claims Settlement
account (15-0100-0-1-153).
``Payment to Civil Service Retirement and Disability Fund
(24-0200-0-1-805).
``Payment to Department of Defense Medicare-Eligible
Retiree Health Care Fund (97-0850-0-1-054).
``Payment to Judiciary Trust Funds (10-0941-0-1-752).
``Payment to Military Retirement Fund (97-0040-0-1-054).
``Payment to the Foreign Service Retirement and Disability
Fund (19-0540-0-1-153).
``Payments to Copyright Owners (03-5175-0-2-376).
``Payments to Health Care Trust Funds (75-0580-0-1-571).
``Payment to Radiation Exposure Compensation Trust Fund
(15-0333-0-1-054).
``Payments to Social Security Trust Funds (28-0404-0-1-
651).
``Payments to the United States Territories, Fiscal
Assistance (14-0418-0-1-806).
``Payments to trust funds from excise taxes or other
receipts properly creditable to such trust funds.
``Payments to widows and heirs of deceased Members of
Congress (00-0215-0-1-801).
``Postal Service Fund (18-4020-0-3-372).
``Radiation Exposure Compensation Trust Fund (15-8116-0-1-
054).
``Reimbursement to Federal Reserve Banks (20-0562-0-1-803).
``Salaries of Article III judges.
``Soldiers and Airmen's Home, payment of claims (84-8930-0-
7-705).
``Tennessee Valley Authority Fund, except nonpower programs
and activities (64-4110-0-3-999).
``Tribal and Indian trust accounts within the Department of
the Interior which fund prior legal obligations of the
Government or which are established pursuant to Acts of
Congress regarding Federal management of tribal real property
or other fiduciary responsibilities, including but not
limited to Tribal Special Fund (14-5265-0-2-452), Tribal
Trust Fund (14-8030-0-7-452), White Earth Settlement (14-
2204-0-1-452), and Indian Water Rights and Habitat
Acquisition (14-5505-0-2-303).
``United Mine Workers of America 1992 Benefit Plan (95-
8260-0-7-551).
``United Mine Workers of America 1993 Benefit Plan (95-
8535-0-7-551).
``United Mine Workers of America Combined Benefit Fund (95-
8295-0-7-551).
``United States Enrichment Corporation Fund (95-4054-0-3-
271).
``Universal Service Fund (27-5183-0-2-376).
``Vaccine Injury Compensation (75-0320-0-1-551).
``Vaccine Injury Compensation Program Trust Fund (20-8175-
0-7-551).
``(B) The following Federal retirement and disability
accounts and activities shall be exempt from reduction under
any order issued under this part:
``Black Lung Disability Trust Fund (20-8144-0-7-601).
``Central Intelligence Agency Retirement and Disability
System Fund (56-3400-0-1-054).
``Civil Service Retirement and Disability Fund (24-8135-0-
7-602).
``Comptrollers general retirement system (05-0107-0-1-801).
``Contributions to U.S. Park Police annuity benefits, Other
Permanent Appropriations (14-9924-0-2-303).

[[Page S165]]

``Court of Appeals for Veterans Claims Retirement Fund (95-
8290-0-7-705).
``Department of Defense Medicare-Eligible Retiree Health
Care Fund (97-5472-0-2-551).
``District of Columbia Federal Pension Fund (20-5511-0-2-
601).
``District of Columbia Judicial Retirement and Survivors
Annuity Fund (20-8212-0-7-602).
``Energy Employees Occupational Illness Compensation Fund
(16-1523-0-1-053).
``Foreign National Employees Separation Pay (97-8165-0-7-
051).
``Foreign Service National Defined Contributions Retirement
Fund (19-5497-0-2-602).
``Foreign Service National Separation Liability Trust Fund
(19-8340-0-7-602).
``Foreign Service Retirement and Disability Fund(19-8186-0-
7-602).
``Government Payment for Annuitants, Employees Health
Benefits (24-0206-0-1-551).
``Government Payment for Annuitants, Employee Life
Insurance (24-0500-0-1-602).
``Judicial Officers' Retirement Fund (10-8122-0-7-602).
``Judicial Survivors' Annuities Fund (10-8110-0-7-602).
``Military Retirement Fund (97-8097-0-7-602).
``National Railroad Retirement Investment Trust (60-8118-0-
7-601).
``National Oceanic and Atmospheric Administration
retirement (13-1450-0-1-306).
``Pensions for former Presidents (47-0105-0-1-802).
``Postal Service Retiree Health Benefits Fund (24-5391-0-2-
551).
``Public Safety Officer Benefits (15-0403-0-1-754).
``Rail Industry Pension Fund (60-8011-0-7-601).
``Retired Pay, Coast Guard (70-0602-0-1-403).
``Retirement Pay and Medical Benefits for Commissioned
Officers, Public Health Service (75-0379-0-1-551).
``Special Benefits for Disabled Coal Miners (16-0169-0-1-
601).
``Special Benefits, Federal Employees' Compensation Act
(16-1521-0-1-600).
``Special Workers Compensation Expenses (16-9971-0-7-601).
``Tax Court Judges Survivors Annuity Fund (23-8115-0-7-
602).
``United States Court of Federal Claims Judges' Retirement
Fund (10-8124-0-7-602).
``United States Secret Service, DC Annuity (70-0400-0-1-
751).
``Voluntary Separation Incentive Fund (97-8335-0-7-051).
``(2) Prior legal obligations of the Government in the
following budget accounts and activities shall be exempt from
any order issued under this part:
``Biomass Energy Development (20-0114-0-1-271).
``Check Forgery Insurance Fund (20-4109-0-3-803).
``Credit liquidating accounts.
``Credit reestimates.
``Employees Life Insurance Fund (24-8424-0-8-602).
``Federal Aviation Insurance Revolving Fund (69-4120-0-3-
402).
``Federal Crop Insurance Corporation Fund (12-4085-0-3-
351).
``Federal Emergency Management Agency, National Flood
Insurance Fund (58-4236-0-3-453).
``Geothermal resources development fund (89-0206-0-1-271).
``Low-Rent Public Housing--Loans and Other Expenses (86-
4098-0-3-604).
``Maritime Administration, War Risk Insurance Revolving
Fund (69-4302-0-3-403).
``Natural Resource Damage Assessment Fund (14-1618-0-1-
302).
``Overseas Private Investment Corporation, Noncredit
Account (71-4184-0-3-151).
``Pension Benefit Guaranty Corporation Fund (16-4204-0-3-
601).
``San Joaquin Restoration Fund (14-5537-0-2-301).
``Servicemembers' Group Life Insurance Fund (36-4009-0-3-
701).
``Terrorism Insurance Program (20-0123-0-1-376).
``(h) Low-Income Programs.--The following programs shall be
exempt from reduction under any order issued under this part:
``Academic Competitiveness/Smart Grant Program (91-0205-0-
1-502).
``Child Care Entitlement to States (75-1550-0-1-609).
``Child Enrollment Contingency Fund (75-5551-0-2-551).
``Child Nutrition Programs (with the exception of special
milk programs) (12-3539-0-1-605).
``Children's Health Insurance Fund (75-0515-0-1-551).
``Commodity Supplemental Food Program (12-3507-0-1-605).
``Contingency Fund (75-1522-0-1-609).
``Family Support Programs (75-1501-0-1-609).
``Federal Pell Grants under section 401 Title IV of the
Higher Education Act.
``Grants to States for Medicaid (75-0512-0-1-551).
``Payments for Foster Care and Permanency (75-1545-0-1-
609).
``Supplemental Nutrition Assistance Program (12-3505-0-1-
605).
``Supplemental Security Income Program (28-0406-0-1-609).
``Temporary Assistance for Needy Families (75-1552-0-1-
609).''.
(d) Additional Excluded Programs.--Section 255 of BBEDCA is
amended by adding the following after subsection (h):
``(i) Economic Recovery Programs.--The following programs
shall be exempt from reduction under any order issued under
this part:
``GSE Preferred Stock Purchase Agreements (20-0125-0-1-
371).
``Office of Financial Stability (20-0128-0-1-376).
``Special Inspector General for the Troubled Asset Relief
Program (20-0133-0-1-376).
``(j) Split Treatment Programs.--Each of the following
programs shall be exempt from any order under this part to
the extent that the budgetary resources of such programs are
subject to obligation limitations in appropriations bills:
``Federal-Aid Highways (69-8083-0-7-401).
``Highway Traffic Safety Grants (69-8020-0-7-401).
``Operations and Research NHTSA and National Driver
Register (69-8016-0-7-401).
``Motor Carrier Safety Operations and Programs (69-8159-0-
7-401).
``Motor Carrier Safety Grants (69-8158-0-7-401).
``Formula and Bus Grants (69-8350-0-7-401).
``Grants-In-Aid for Airports (69-8106-0-7-402).''.

SEC. 12. DETERMINATIONS AND POINTS OF ORDER.

Nothing in this title shall be construed as limiting the
authority of the chairmen of the Committees on the Budget of
the House and Senate under section 312 of the Congressional
Budget Act of 1974. CBO may consult with the Chairmen of the
House and Senate Budget Committees to resolve any ambiguities
in this title.

____________________