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Text of the Budget Before Borrowing Act of 2012

This bill was introduced on January 18, 2012, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jan 18, 2012 (Introduced).

Source: GPO

I

112th CONGRESS

2d Session

H. R. 3778

IN THE HOUSE OF REPRESENTATIVES

January 18, 2012

introduced the following bill; which was referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To amend the Congressional Budget Act of 1974 to establish a point of order to prohibit the extension of the public debt limit unless a concurrent resolution on the budget has been agreed to and is in effect.

1.

Short title

This Act may be cited as the Budget Before Borrowing Act of 2012.

2.

Point of order against consideration of debt limit extension

Section 312 of the Congressional Budget Act of 1974 is amended by adding at the end the following new subsection:

(g)

Point of order against consideration of debt limit extension

(1)

It shall not be in order in the House of Representatives or the Senate to consider any bill or joint resolution, or amendment thereto or conference report thereon, to extend the public debt limit unless a concurrent resolution on the budget has been agreed to and is in effect for the fiscal year during which such measure is being considered.

(2)

Paragraph (1) may be waived or suspended in the House of Representatives or the Senate only by the affirmative vote of two-thirds of its Members, duly chosen and sworn.

(3)

An affirmative vote of two-thirds of the Members, duly chosen and sworn, shall be required in the Senate to sustain an appeal of the ruling of the Chair on a point of order under paragraph (1).

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