S.Amdt. 576

1. Adds SEC. 5___. SENSE OF THE SENATE RELATING TO A REASONABLE PATH TO A BALANCED BUDGET at the end of title V

   Adds a section

   In S.Con.Res. 8 · Placed on Calendar Senate

   When the Congressional Budget Office releases its annual update to the Budget and Economic Outlook, the Congressional Budget Office shall provide an analysis of the budgetary effects of 30 percent, 50 percent, and 100 percent of Americans losing employer sponsored health insurance and accessing coverage through Federal or State exchanges.

   Inserted: SEC. 5___. SENSE OF THE SENATE RELATING TO A REASONABLE PATH TO A BALANCED BUDGET.

   Inserted: It is the sense of the Senate that eliminating the deficit through a balanced approach requiring shared sacrifice while protecting the middle class should be comprised of the following components:

   Inserted: (1) Total outlays for any fiscal year should not exceed total receipts for that fiscal year, unless three-fifths of the whole number of each House of Congress provide by law for a specific excess of outlays over receipts by a roll call vote.

   Inserted: (2) Prior to each fiscal year, the President should transmit to the Congress a proposed budget for the United States Government for that fiscal year in which total outlays do not exceed total receipts.

   Inserted: (3) The requirements described in paragraphs (1) and (2) should not apply during any fiscal year in which a declaration of war is in effect or in which the United States is engaged in military conflict which causes an imminent and serious military threat to national security and is so declared by a joint resolution, adopted by a majority of the whole number of each House, which becomes law.

   Inserted: (4) The Congress should enforce and implement these requirements by appropriate legislation, which may rely on estimates of outlays and receipts.

   Inserted: (5)(A) Except as described in subparagraph (B), total receipts should include all receipts of the United States Government other than those derived from borrowing, and total outlays should include all outlays of the United States Government other than those for repayment of debt principal.

   Inserted: (B) The receipts (including attributable interest) and outlays of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, or any fund that is a successor to either such fund, should not be considered to be receipts or outlays.

   Inserted: (6) Congress should not pass any bill that provides a net reduction in individual income taxes for those with incomes over $1,000,000 (as may be adjusted by Congress to account for inflation) if, after enactment, total outlays would exceed total receipts in any fiscal year affected by the bill.

   Inserted: (7) No court of the United States or of any State should enforce these requirements by ordering any reduction in the Social Security benefits authorized by law, including any benefits provided from the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, or any fund that is a successor to either such fund.

   Original wording

   At the end of title V, add the following:

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As printed