S.Amdt. 931

SA 931. Mr. ROMNEY submitted an amendment intended to be proposed by
him to the bill H.R. 3877, to amend the Balanced Budget and Emergency
Deficit Control Act of 1985, to establish a congressional budget for
fiscal years 2020 and 2021, to temporarily suspend the debt limit, and
for other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. REQUIREMENT TO ENACT OFFSETTING SAVINGS.

(a) Determination of Whether Budget Deal Was Offset.--On
January 1, 2020, the Director shall determine the difference
obtained by subtracting--
(1) the projected amount of the reduction in outlays for
direct spending for the period of the total of fiscal years
2020 through 2029 under laws enacted during the period--
(A) beginning on the day after the date of enactment of
this Act; and
(B) ending on December 31, 2019; from
(2) $320,000,000,000.
(b) Sequestration.--
(1) In general.--If the difference determined under
subsection (a) is a positive number, the Director shall
calculate and the President shall order a sequestration for
each of fiscal years 2020 through 2029 in accordance with
this subsection.
(2) Calculation.--The Director shall calculate the amount
of the reduction in direct spending required under this
subsection for a fiscal year by dividing the difference
determined under subsection (a) by 10.
(3) Orders.--
(A) In general.--For each of fiscal years 2020 through
2029, on the date specified in subparagraph (B), the Director
shall calculate and the President shall order a
sequestration, effective upon issuance, that reduces all
nonexempt direct spending by the uniform percentage necessary
to reduce the total amount of nonexempt direct spending for
such fiscal year by the amount calculated under paragraph
(2).
(B) Date.--The date specified in this subparagraph is--
(i) with respect to fiscal year 2020, as soon as is
practicable after December 31, 2019; and
(ii) with respect to each of fiscal years 2021 through
2029, the date on which the Director issues the sequestration
preview report for such fiscal year pursuant to section
254(c) of the Balanced Budget and Emergency Deficit Control
Act of 1985 (2 U.S.C. 904(c)).
(4) Implementation.--When implementing a sequestration
under this subsection, the Director shall follow the
procedures specified in section 6 of the Statutory Pay-As-
You-Go Act of 2010 (2 U.S.C. 935), the exemptions specified
in section 255 of the Balanced Budget and Emergency Deficit
Control Act of 1985 (2 U.S.C. 905), and the special rules
specified in section 256 of the Balanced Budget and Emergency
Deficit Control Act of 1985 (2 U.S.C. 906).
(c) Definitions.--In this section--
(1) the terms ``direct spending'' and ``sequestration''
have the meanings given such terms in section 250(c) of the
Balanced Budget and Emergency Deficit Control Act of 1985 (2
U.S.C. 900(c));
(2) the term ``Director'' means the Director of the Office
of Management and Budget; and
(3) the term ``outlays'' has the meaning given that term in
section 3 of the Congressional Budget and Impoundment Control
Act of 1974 (2 U.S.C. 622).
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