To provide for sequestration replacement.

SA 1047. Mr. KAINE (for himself, Mr. King, and Mrs. Murray) submitted
an amendment intended to be proposed by him to the concurrent
resolution S. Con. Res. 11, setting forth the congressional budget for
the United States Government for fiscal year 2016 and setting forth the
appropriate budgetary levels for fiscal years 2017 through 2025; as
follows:

At the end of title III, add the following:

SEC. 3__. DEFICIT-NEUTRAL RESERVE FUND RELATING TO REVISE OR
REPEAL SEQUESTRATION.

The Chairman of the Committee on the Budget of the Senate
may revise the allocations of a committee or committees,
aggregates, and other appropriate levels and limits in this
resolution for one or more bills, joint resolutions,
amendments, amendments between the Houses, motions, or
conference reports that amend section 251(c) of the Balanced
Budget and Emergency Deficit Control Act of 1985 or the
enforcement procedures under section 251A of that Act to
revise or repeal the discretionary spending limits and
enforcement procedures established under those sections,
relating to providing relief from sequestration and the
reduction in discretionary spending limits for fiscal years
2016 and 2017, split evenly between both the revised security
category and the revised nonsecurity category, and offsetting
such relief through targeted changes in mandatory or
discretionary spending programs and tax expenditures by the
amounts provided in such legislation for those purposes,
provided that such legislation would not increase the deficit
over the period of the total of fiscal years 2016 through
2025. For purposes of determining deficit-neutrality under
this section, the Chairman of the Committee on the Budget of
the Senate may include the estimated effects of any amendment
or amendments to the discretionary spending limits.

At the appropriate place, insert the following:

SEC. ___. ADJUSTMENTS FOR SEQUESTRATION REPLACEMENT.

(a) Mechanism for Implementing Increase in Discretionary
Limits.--If a measure becomes law that amends the
discretionary spending limits established under section
251(c) of the Balanced Budget and Emergency Deficit Control
Act of 1985 (2 U.S.C. 901(c)), the adjustments to
discretionary spending limits under section 251(b) of that
Act (2 U.S.C. 901(b)), or the enforcement procedures
established under section 251A of that Act (2 U.S.C. 901a),
the Chairman of the Committee on the Budget of the Senate
shall adjust the allocation called for in section 302(a) of
the Congressional Budget Act of 1974 (2 U.S.C. 633(a)) to the
Committee on Appropriations of the Senate, and may adjust all
other budgetary aggregates, allocations, levels, and limits
contained in this resolution, as necessary, consistent with
such measure, up to the amounts specified and reserved in
subparagraph (b).
(b) Amounts Specified and Reserved.--The amounts specified
(and to be reserved from the allocation called for in section

[[Page S2072]]

302(a) allocation of the Congressional Budget Act of 1974 (2
U.S.C. 633(a)) to the Committee on Appropriations of the
Senate until such time as the conditions specified in
subsection (a) are met are--
(1) for fiscal year 2016--
(A) for the revised security category, $37,000,000,000 in
budget authority (and the outlays flowing therefrom); and
(B) for the revised nonsecurity category, $37,000,000,000
in budget authority (and the outlays flowing therefrom); and
(2) for fiscal year 2017--
(A) for the revised security category, $37,000,000,000 in
budget authority (and the outlays flowing therefrom); and
(B) for the revised nonsecurity category, $37,000,000,000
in budget authority (and the outlays flowing therefrom).
______