To require that any debt limit increase be balanced by equal spending cuts over the next decade.

SA 6. Mr. PORTMAN proposed an amendment to the bill H.R. 325, to
ensure the complete and timely payment of the obligations of the United
States Government until May 19, 2013, and for other purposes; as
follows:

At the end of the bill, insert the following:

SEC. ____. DOLLAR FOR DOLLAR REQUIREMENT.

(a) Debt Limit Control.--
(1) In general.--Subchapter I of chapter 31 of title 31,
United States Code, is amended by inserting after section
3101A the following:

``Sec. 3101B. Debt limit control

``(a) Declaration of a Debt Limit Warning.--
``(1) In general.--In the event of a near breach of the
public debt limit established by section 3101, the Secretary
of the Treasury shall issue a debt limit warning to the
Committee on Finance of the Senate and the Committee on Ways
and Means of the House of Representatives that shall include
a determination as to when extraordinary measures may be
necessary in order to prolong the funding of the United
States Government.
``(2) Definitions.--In this subsection:
``(A) Extraordinary measures.--The term `extraordinary
measures' means measures that may be taken by the Secretary
of the Treasury in the event of a breach of the debt limit by
the United States to prolong the function of United States
Government in the absence of a debt limit increase.
``(B) Near breach.--The term `near breach' means the point
at which the Secretary of the Treasury determines that the
United States Government will reach the statutorily
prescribed debt limit within 60 calendar days notwithstanding
the implementation of extraordinary measures.
``(b) Presidential Submission of Debt Limit Legislation.--
``(1) Savings recommendations from the president.--Any
formal Presidential request to increase the debt limit under
this section shall include the amount of the proposed debt
limit increase and be accompanied by proposed legislation to
reduce spending over the sum of the current and following 10
years by an amount equal to or greater than the amount of the
requested debt limit increase. Net interest savings may not
be counted towards spending reductions required by this
paragraph.
``(2) Calculation.--The spending savings under paragraph
(1) shall be calculated against a budget baseline consistent
with section 257 of the Balanced Budget and Emergency Deficit
Control Act of 1985. This baseline shall exclude the
extrapolation of any spending that had been enacted under an
emergency designation.''.
(2) Subchapter analysis.--The table of sections for chapter
31 of title 31, United States Code, is amended by inserting
after the item for section 3101A the following:

``3101B. Debt limit control.''.

(b) Congressional Requirement to Restrain Spending While
Raising the Debt Limit.--
(1) In general.--Title III of the Congress and Budget Act
of 1974 is amended by inserting at the end the following:

``SEC. 316. DEBT LIMIT INCREASE POINT OF ORDER.

``(a) In General.--
``(1) Point of order.--Except as provided in subsection
(b), it shall not be in order in the Senate or the House of
Representatives to consider any bill, joint resolution,
amendment, motion, or conference report that increases the
statutory debt limit unless the bill contains net spending
reductions of an equal or greater amount over the sum of the
current and next 10 fiscal years. Net interest savings may
not be counted towards spending reductions required by this
paragraph.
``(2) Components of net spending reduction.--
``(A) Calculation.--The savings resulting from the proposed
spending reductions under paragraph (1) shall be calculated
by the Congressional Budget Office against a budget baseline
consistent with section 257 of the Balanced Budget and
Emergency Deficit Control Act of 1985. This baseline shall
exclude the extrapolation of any spending that had been
enacted under an emergency designation.
``(B) Availability.--The Senate and the House of
Representatives may not vote on any bill, joint resolution,
amendment, motion, or conference report that increases the
public debt limit unless the cost estimate of that measure
prepared by the Congressional Budget Office has been publicly
available on the website of the Congressional Budget Office
for at least 24 hours.
``(C) Prohibit timing shifts.--Any provision that shifts
outlays or revenues from within the 10-year window to outside
the window shall not count towards the budget savings target
for purposes of this subsection.
``(b) Senate Supermajority Waiver and Appeal.--
``(1) Waiver.--In the Senate, subsection (a)(1) may be
waived or suspended only by an affirmative vote of three-
fifths of the Members, duly chosen and sworn.
``(2) Appeal.--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 subsection (a)(1).''.
(2) Conforming amendment.--The table of contents set forth
in section 1(b) of the Congressional Budget and Impoundment
Control Act of 1974 is amended by inserting after section 315
the following new item:

``Sec. 316. Debt limit increase point of order.''.
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