S.Amdt. 399

1. Adds SEC. __. POINT OF ORDER AGAINST LEGISLATION THAT WOULD INCREASE NET DIRECT SPENDING IF THE NATIONAL DEBT IS GREATER THAN THE SIZE OF THE ECONOMY OF THE UNITED STATES at the end of subtitle A of title IV

   Adds a section

   In S.Con.Res. 11 · Placed on Calendar Senate

   In the Senate, for purposes of determining budgetary impacts to evaluate points of order under the Congressional Budget Act of 1974, this resolution, any previous budget resolution, and any subsequent budget resolution, provisions contained in any bill, resolution, amendment, motion, or conference report that increases or extends the increase of, any guarantee fees of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation shall not be scored with respect to the level of budget authority, outlays, or revenues contained in such legislation.

   Inserted: SEC. __. POINT OF ORDER AGAINST LEGISLATION THAT WOULD INCREASE NET DIRECT SPENDING IF THE NATIONAL DEBT IS GREATER THAN THE SIZE OF THE ECONOMY OF THE UNITED STATES.

   Inserted: (a) Point of Order.--

   Inserted: (1) In general.--It shall not be in order in the Senate to consider any bill, joint resolution, motion, amendment, amendment between the Houses, or conference report that would increase the net level of direct spending, excluding net interest, relative to the most recent Congressional Budget Office baseline during any period in which the gross Federal debt is greater than 100 percent of the gross domestic product of the United States in the prior year.

   Inserted: (2) Determination of gross federal debt as a percent of gross domestic product.--For purposes of this section, the percent of total gross Federal debt as a percent of gross domestic product shall be determined by the Chairman of the Committee on the Budget of the Senate on the basis of the most recently published Congressional Budget Office estimate of nominal gross domestic product in the prior calendar year.

   Inserted: (b) Waiver and Appeal.--Subsection (a) may be waived or suspended in the Senate only by an affirmative vote of three-fifths of the Members, duly chosen and sworn. 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).

   Original wording

   At the end of subtitle A of title IV, add the following:

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As printed