I 

114TH CONGRESS 

1ST SESSION H. R. 3775 

To amend the Congressional Budget Act of 1974 to provide for a debt 

stabilization process, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

OCTOBER 20, 2015 

Mr. PETERS introduced the following bill; which was referred to the Committee on the Budget, and in addition to the Committee on Rules, 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 provide 

for a debt stabilization process, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Pay Down the Debt 

5 Act of 2015’’. 

6 SEC. 2. DEBT STABILIZATION PROCESS. 

7 (a) IN GENERAL.—The Congressional Budget Act of 

8 1974 is amended by inserting after title V the following: 


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1 ‘‘TITLE VI—DEBT STABILIZATION 

2 ‘‘SEC. 601. DEBT STABILIZATION PROCESS. 

3 ‘‘(a) BUDGET TARGETS.—The budget target— 

4 ‘‘(1) for fiscal year 2017 is a ratio of debt held 

5 by the public to the estimated gross domestic prod6 uct (GDP) of the United States that is lower than 

7 the ratio in fiscal year 2016; and 

8 ‘‘(2) for a fiscal year after fiscal year 2017 is 

9 a ratio of debt held by the public to the estimated 

10 gross domestic product (GDP) of the United States 

11 that does not exceed the ratio in the prior fiscal 

12 year. 

13 ‘‘(b) REPORTS.—During January of each calendar 

14 year beginning in 2015, the Director of the Office of Man15 agement and Budget shall report to the President and the 

16 Director of the Congressional Budget Office shall report 

17 to Congress whether the projected debt held by the public18 to-GDP ratio will exceed the prior fiscal year’s ratio in 

19 any of the five ensuing fiscal years. 

20 ‘‘(c) PRESIDENT’S BUDGET.—If the report of the Di21 rector of the Office of Management and Budget indicates 

22 that for any of fiscal years 2017 through 2025 the ratios 

23 set forth in subsection (a)(1) or (a)(2) will be exceeded, 

24 then the budget submission of the President under section 

25 1105(a) of title 31, United States Code, for that fiscal 


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1 year shall include legislative recommendations that achieve 

2 the applicable budget targets set forth in subsection (a). 

3 ‘‘(d) CONGRESSIONAL ACTION.— 

4 ‘‘(1) IN GENERAL.—If the report of the Direc5 tor of the Congressional Budget Office under sub6 section (b) indicates that for any of fiscal years 

7 2017 through 2025, the ratios set forth in sub8 section (a)(1) or (a)(2) will be exceeded, then the 

9 concurrent resolution on the budget for that fiscal 

10 year shall include stabilization instructions pursuant 

11 to section 310 directing committees of the House of 

12 Representatives and the Senate to determine and 

13 recommend changes in laws within their jurisdictions 

14 that achieve the budget targets set forth in sub15 section (a). 

16 ‘‘(2) POINT OF ORDER.—It shall not be in 

17 order in the House of Representatives or the Senate 

18 to consider any concurrent resolution on the budget, 

19 or amendment thereto or conference report thereon, 

20 that fails to include directions to committees suffi21 cient to achieve the budget targets set forth in sub22 section (a). 

23 ‘‘(3) DISCRETIONARY SPENDING LIMITS.—Any 

24 changes in the discretionary spending limits set 

25 forth in section 251(c) of the Balanced Budget and 


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1 Emergency Deficit Control Act of 1985 contained in 

2 any stabilization legislation referred to in this sub3 section shall not be considered to be extraneous mat4 ter for purposes of section 313. 

5 ‘‘(e) ENFORCING STABILIZATION REQUIREMENT.— 

6 ‘‘(1) IN GENERAL.—If, in any calendar year in 

7 which the debt stabilization process has been trig8 gered under subsection (d), Congress has not agreed 

9 to stabilization legislation and transmitted such leg10 islation to the President, it shall not be in order in 

11 the House of Representatives or the Senate to con12 sider any bill or joint resolution, or amendment 

13 thereto or conference report thereon, providing a net 

14 increase in mandatory budget authority or a net de15 crease in revenues. 

16 ‘‘(2) POINT OF ORDER IN HOUSE OF REP17 RESENTATIVES.— 

18 ‘‘(A) IN GENERAL.—It shall not be in 

19 order in the House of Representatives to con20 sider a rule or order that waives the application 

21 of paragraph (1). 

22 ‘‘(B) DISPOSITION IF POINT OF ORDER.— 

23 As disposition of points of order under para24 graph (1), the Chair shall put the question of 


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1 consideration with respect to the proposition 

2 that is subject to the points of order. 

3 ‘‘(C) DEBATE.—A question of consider4 ation under this paragraph shall be debatable 

5 for ten minutes by each Member initiating a 

6 point of order and for ten minutes by an oppo7 nent on each point of order, but shall otherwise 

8 be decided without intervening motion except 

9 one that the House adjourn or that the Com10 mittee of the Whole rise, as the case may be. 

11 ‘‘(D) AMENDMENTS.—The disposition of 

12 the question of consideration under this para13 graph with respect to a bill or resolution shall 

14 be considered also to determine the question of 

15 consideration under this paragraph with respect 

16 to an amendment made in order as original 

17 text. 

18 ‘‘(3) SENATE.—Paragraph (1) may be waived 

19 or suspended in the Senate only by three-fifths of 

20 the Members, duly chosen and sworn. An affirmative 

21 vote of three-fifths of the Members, duly chosen and 

22 sworn, shall be required in the Senate to sustain an 

23 appeal of the ruling of the Chair on a point of order 

24 raised under paragraph (1). 

25 ‘‘(f) SUSPENSION DURING LOW GROWTH.— 


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1 ‘‘(1) IN GENERAL.—The requirements of this 

2 title for any fiscal year shall be suspended— 

3 ‘‘(A) if the Secretary of the Treasury noti4 fies the President and each House of Congress 

5 and publishes in the Federal Register that the 

6 estimated real gross domestic product of the 

7 United States for the calendar year during 

8 which such fiscal year begins would exceed the 

9 real gross domestic product of the prior cal10 endar year by less than one percent; or 

11 ‘‘(B) upon the enactment of a joint resolu12 tion stating that the stabilization legislation 

13 would cause or exacerbate an economic down14 turn. 

15 ‘‘(2) EXCEPTION.—This subsection shall not 

16 apply to the reporting requirements set forth in sub17 section (b). 

18 ‘‘(3) END OF SUSPENSION.—In the event of a 

19 suspension of the requirements of this title under 

20 paragraph (1) or (2), then, effective with regard to 

21 the first fiscal year beginning at least 6 months 

22 after the notification by the Secretary of the Treas23 ury or the enactment of the joint resolution, as ap24 plicable, such suspension is no longer in effect. 


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1 ‘‘SEC. 602. CONSIDERATION OF ALTERNATIVE PROPOSALS. 

2 ‘‘(a) INTRODUCTION OF ALTERNATIVE PROPOSAL.— 

3 If, in any calendar year in which the debt stabilization 

4 process has been triggered by a report by the Director of 

5 the Congressional Budget Office under section 601(b), 

6 Congress has not agreed to a congressional resolution on 

7 the budget by June 15 that meets the requirements of sec8 tion 601, then any Member of the House of Representa9 tives or the Senate may introduce a bill to provide for 

10 changes in law sufficient to achieve the applicable budget 

11 target set forth in section 601(a). Such bill shall have the 

12 following long title: ‘To stabilize the debt pursuant to sec13 tion 602 of the Congressional Budget Act of 1974.’. 

14 ‘‘(b) CBO ESTIMATE.—Upon the introduction of a 

15 bill referred to in subsection (a), the Director of the Con16 gressional Budget Office shall prepare and submit to the 

17 appropriate committees of the House of Representatives 

18 and the Senate, as applicable, a cost estimate of that bill 

19 for the time period described in section 601(b). 

20 ‘‘(c) EXPEDITED CONSIDERATION.— 

21 ‘‘(1) REQUIRED COSPONSORSHIP.—Any bill in22 troduced pursuant to subsection (a)— 

23 ‘‘(A) in the House of Representatives shall 

24 receive expedited consideration pursuant to 

25 paragraph (2) if such bill has not less than 50 

26 cosponsors; or 


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1 ‘‘(B) in the Senate shall receive expedited 

2 consideration pursuant to paragraph (2) if such 

3 bill has not less than 10 cosponsors. 

4 ‘‘(2) CONSIDERATION IN THE HOUSE OF REP5 RESENTATIVES.— 

6 ‘‘(A) REFERRAL AND REPORTING.—Any 

7 committee of the House of Representatives to 

8 which a bill produced pursuant to paragraph 

9 (1) is referred shall report it to the House with10 out amendment not later than the third legisla11 tive day after the date of its introduction. If a 

12 committee fails to report the bill within that pe13 riod or the House has adopted a concurrent res14 olution providing for adjournment sine die at 

15 the end of a Congress, such committee shall be 

16 automatically discharged from further consider17 ation of the bill and it shall be placed on the 

18 appropriate calendar. 

19 ‘‘(B) PROCEEDING TO CONSIDERATION.— 

20 Not later than 3 legislative days after the bill 

21 referred to in paragraph (1) is reported or a 

22 committee has been discharged from further 

23 consideration thereof, it shall be in order to 

24 move to proceed to consider the bill in the 

25 House. Such a motion shall be in order only at 


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1 a time designated by the Speaker in the legisla2 tive schedule within two legislative days after 

3 the day on which the proponent announces an 

4 intention to the House to offer the motion pro5 vided that such notice may not be given until 

6 such bill is reported or a committee has been 

7 discharged from further consideration thereof. 

8 Such a motion shall not be in order after the 

9 House has disposed of a motion to proceed with 

10 respect to that special message. The previous 

11 question shall be considered as ordered on the 

12 motion to its adoption without intervening mo13 tion. A motion to reconsider the vote by which 

14 the motion is disposed of shall not be in order. 

15 ‘‘(C) CONSIDERATION.—If the motion to 

16 proceed is agreed to, the House shall imme17 diately proceed to consider the bill referred to 

18 in paragraph (1) in the House without inter19 vening motion. Such bill shall be considered as 

20 read. All points of order against such bill and 

21 against its consideration are waived. The pre22 vious question shall be considered as ordered on 

23 such bill to its passage without intervening mo24 tion except 2 hours of debate equally divided 

25 and controlled by the proponent and an oppoVerDate Sep 11 2014 02:27 Oct 21, 2015 Jkt 059200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\H3775.IH H3775

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1 nent and one motion to limit debate on the bill. 

2 A motion to reconsider the vote on passage of 

3 such bill shall not be in order. 

4 ‘‘(3) CONSIDERATION IN THE SENATE.— 

5 ‘‘(A) COMMITTEE ACTION.—The appro6 priate committees of the Senate shall report 

7 without amendment the bill referred to in para8 graph (1) not later than the third session day 

9 after introduction. If a committee fails to report 

10 such bill within that period or the Senate has 

11 adopted a concurrent resolution providing for 

12 adjournment sine die at the end of a Congress, 

13 the Committee shall be automatically dis14 charged from further consideration of such bill 

15 and it shall be placed on the appropriate cal16 endar. 

17 ‘‘(B) MOTION TO PROCEED.—Not later 

18 than 3 session days after the bill referred to in 

19 paragraph (1) is reported in the Senate or the 

20 committee has been discharged thereof, it shall 

21 be in order for any Senator to move to proceed 

22 to consider such bill in the Senate. The motion 

23 shall be decided without debate and the motion 

24 to reconsider shall be deemed to have been laid 

25 on the table. Such a motion shall not be in 


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1 order after the Senate has disposed of a prior 

2 motion to proceed with respect to such bill. 

3 ‘‘(C) CONSIDERATION.—If a motion to 

4 proceed to the consideration of the bill referred 

5 to in paragraph (1) is agreed to, the Senate 

6 shall immediately proceed to consideration of 

7 such bill without intervening motion, order, or 

8 other business, and such bill shall remain the 

9 unfinished business of the Senate until disposed 

10 of. Consideration on the bill in the Senate 

11 under this subsection, and all debatable motions 

12 and appeals in connection therewith, shall not 

13 exceed 10 hours equally divided in the usual 

14 form. All points of order against such bill or its 

15 consideration are waived. Consideration in the 

16 Senate on any debatable motion or appeal in 

17 connection with such bill shall be limited to not 

18 more than 1 hour. A motion to postpone, or a 

19 motion to proceed to the consideration of other 

20 business, or a motion to recommit such bill is 

21 not in order. A motion to reconsider the vote by 

22 which such bill is agreed to or disagreed to is 

23 not in order. 

24 ‘‘(4) AMENDMENTS PROHIBITED.—No amend25 ment to, or motion to strike a provision from, a bill 


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1 referred to in paragraph (1) considered under this 

2 section shall be in order in either the Senate or the 

3 House of Representatives. 

4 ‘‘(5) COORDINATION WITH ACTION BY OTHER

5 HOUSE.—If, before passing the bill referred to in 

6 paragraph (1), one House receives from the other a 

7 bill— 

8 ‘‘(A) the bill of the other House shall not 

9 be referred to a committee; and 

10 ‘‘(B) the procedure in the receiving House 

11 shall be the same as if no such bill had been 

12 received from the other House until the vote on 

13 passage, when the bill received from the other 

14 House shall supplant such bill of the receiving 

15 House. 

16 ‘‘SEC. 603. DEFINITION. 

17 ‘‘As used in this title, the term ‘stabilization legisla18 tion’ means any legislation designated in the text as sta19 bilization legislation which the chairman of the Committee 

20 on the Budget of the House of Representatives or the Sen21 ate certifies would reduce the deficit or debt held by the 

22 public below the levels required by this title.’’. 

23 (b) CONFORMING AMENDMENT.—The table of con24 tents of the Congressional Budget Act of 1974 is amended 


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1 by inserting after the items relating to title V the fol2 lowing: 

‘‘TITLE VI—DEBT STABILIZATION 

‘‘Sec. 601. Debt stabilization process. 

‘‘Sec. 602. Consideration of alternative proposals. 

‘‘Sec. 603. Definition.’’. 

Æ 


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