S.Amdt. 2201

SA 2201. Mr. LEE submitted an amendment intended to be proposed to
amendment SA 1717 proposed by Mr. Graham to the concurrent resolution
H. Con. Res. 14, establishing the congressional budget for the United
States Government for fiscal year 2025 and setting forth the
appropriate budgetary levels for fiscal years 2026 through 2034; which
was ordered to lie on the table; as follows:

On page 51, strike lines 3 through 7 and insert the
following:
(b) Increase in Statutory Debt Limit.--In the Senate, not
later than May 16, 2025, the Committee on Finance of the
Senate shall report changes in laws within its jurisdiction
that increase the statutory debt limit by not more than
$2,000,000,000,000.

SEC. 2003. ADJUSTMENT TO DEBT LIMIT INCREASE FOR SPENDING
CUTS OF AT LEAST $2 TRILLION.

(a) Adjustment if Deficit Reduction Target Not Achieved.--
If one or more committees of the Senate submit reconciliation
recommendations pursuant to subparagraphs (A) through (J) of
section 2002(a)(2) and such recommendations do not, in total,
achieve at least $2,000,000,000,000 in net deficit reduction
over the period of fiscal years 2025 through 2034, the
Chairman of the Committee on the Budget of the Senate shall
reduce the $2,000,000,000,000 reconciliation instruction for
the Committee on Finance under section 2002(b) by an amount
equal to the difference between $2,000,000,000,000 and the
amount of the net deficit reduction under such
recommendations.
(b) Adjustment if Deficit Reduction Target Exceeded.--If
one or more committees of the Senate submit reconciliation
recommendations pursuant to subparagraphs (A) through (J) of
section 2002(a)(2) and such recommendations, in total,
achieve at least $2,000,000,000,000 in net deficit reduction
over the period of fiscal years 2025 through 2034, the
Chairman of the Committee on the Budget of the Senate shall
increase the $2,000,000,000,000 reconciliation instruction
for the Committee on Finance under section 2002(b) by an
amount equal to the difference between $2,000,000,000,000 and
the amount of the net deficit reduction under such
recommendations.
(c) Certification Required for Adjustment.--No adjustment
may be made under subsection (a) or subsection (b) unless the
Chairman of the Committee on the Budget of the Senate, using
cost estimates provided by the Congressional Budget Office
and the Joint Committee on Taxation (as appropriate),
certifies in writing that the applicable reconciliation
recommendations--
(1) with respect to subsection (a), do not achieve net
deficit reduction of at least $2,000,000,000,000 over the
period of fiscal years 2025 through 2034; or
(2) with respect to subsection (b), achieve net deficit
reduction of at least $2,000,000,000,000 over the period of
such fiscal years.
(d) Reconciliation Instruction for Finance.--The dollar
amount resulting from any adjustment made under this section
to the reconciliation instruction for the Committee on
Finance under section 2002(b) shall be substituted for
``$2,000,000,000,000'' in such section and shall be deemed
the reconciliation instructions for such Committee under such
section. Any recommendations on changes in law within the
jurisdiction of the Committee shall be consistent with the
goals of this concurrent resolution, including with respect
to spending reduction, tax policy changes, reforms, or other
measures deemed appropriate by the Chairman of the Committee
on the Budget of the Senate.
(e) Consistency With the Resolution.--Any reconciliation
recommendations receiving an allocation adjustment under this
section shall not be considered in violation of the budgetary
levels established by this concurrent resolution.
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