I 

117TH CONGRESS 

1ST SESSION H. R. 2879 

To prevent a fiscal crisis by enacting legislation to balance the Federal 

budget through reductions of discretionary and mandatory spending, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 28, 2021 

Mr. GOOD of Virginia 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 prevent a fiscal crisis by enacting legislation to balance 

the Federal budget through reductions of discretionary 

and mandatory spending, 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 ‘‘Nickel Plan Act’’. 

5 SEC. 2. ESTABLISHMENT AND ENFORCEMENT OF SPEND6 ING CAPS. 

7 (a) OUTLAY CAPS.—The Balanced Budget and 

8 Emergency Deficit Control Act of 1985 (2 U.S.C. 900 et 


kjohnson on DSK79L0C42PROD with BILLS
2 

•HR 2879 IH

1 seq.) is amended by inserting after section 253 the fol2 lowing: 

3 ‘‘SEC. 253A. ESTABLISHING OUTLAY CAPS. 

4 ‘‘(a) OUTLAY CAPS.—In this section, the term ‘outlay 

5 cap’ means: 

6 ‘‘(1) FISCAL YEAR 2022.—For fiscal year 2022, 

7 total outlays (less net interest payments) shall be 

8 not more than $4,298,244,000,000, less 5 percent. 

9 ‘‘(2) FISCAL YEAR 2023.—For fiscal year 2023, 

10 total outlays (less net interest payments) shall be 

11 not more than the amount computed under para12 graph (1), less 5 percent. 

13 ‘‘(3) FISCAL YEAR 2024.—For fiscal year 2024, 

14 total outlays (less net interest payments) shall be 

15 not more than the amount computed under para16 graph (2), less 5 percent. 

17 ‘‘(4) FISCAL YEAR 2025.—For fiscal year 2025, 

18 total outlays (less net interest payments) shall be 

19 not more than the amount computed under para20 graph (3), less 5 percent. 

21 ‘‘(5) FISCAL YEAR 2026.—For fiscal year 2026, 

22 total outlays (less net interest payments) shall be 

23 not more than the amount computed under para24 graph (4), less 5 percent. 


kjohnson on DSK79L0C42PROD with BILLS
3 

•HR 2879 IH

1 ‘‘(6) FISCAL YEAR 2027 AND SUBSEQUENT FIS2 CAL YEARS.— 

3 ‘‘(A) IN GENERAL.—For fiscal year 2027 

4 and each fiscal year thereafter, total outlays 

5 shall be not more than 18 percent of the gross 

6 domestic product for that fiscal year, as esti7 mated by the Office of Management and Budg8 et prior to March of the previous fiscal year. 

9 ‘‘(B) LIMITATION.—Notwithstanding sub10 paragraph (A), for any fiscal year beginning 

11 with fiscal year 2028, total projected outlays 

12 may not be less than total projected outlays for 

13 the preceding fiscal year. 

14 ‘‘(b) SEQUESTRATION.— 

15 ‘‘(1) IN GENERAL.— 

16 ‘‘(A) EXCESS SPENDING.—Not later than 

17 45 calendar days after the beginning of a fiscal 

18 year, the Office of Management and Budget 

19 shall prepare and the President shall order a 

20 sequestration to eliminate any excess outlay 

21 amount. 

22 ‘‘(B) DEFINITIONS.— 

23 ‘‘(i) FISCAL YEARS 2022 THROUGH

24 2026.—For each of fiscal years 2022 

25 through 2026 and for purposes of this subVerDate Sep 11 2014 23:31 Jun 08, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H2879.IH H2879

kjohnson on DSK79L0C42PROD with BILLS
4 

•HR 2879 IH

1 section, the term ‘excess outlay amount’ 

2 means the amount by which total projected 

3 Federal outlays (less net interest pay4 ments) for a fiscal year exceeds the outlay 

5 cap for that fiscal year. 

6 ‘‘(ii) FISCAL YEAR 2027 AND SUBSE7 QUENT FISCAL YEARS.—For fiscal year 

8 2027 and each fiscal year thereafter and 

9 for purposes of this subsection, the term 

10 ‘excess outlay amount’ means the amount 

11 by which total projected Federal outlays 

12 for a fiscal year exceeds the outlay cap for 

13 that fiscal year. 

14 ‘‘(2) SEQUESTRATION.— 

15 ‘‘(A) CBO PREVIEW REPORT.—On August 

16 15 of each year, the Congressional Budget Of17 fice shall issue a sequestration preview report 

18 as described in section 254(c)(4). 

19 ‘‘(B) OMB PREVIEW REPORT.—On August 

20 20 of each year, the Office of Management and 

21 Budget shall issue a sequestration preview re22 port as described in section 254(c)(4). 

23 ‘‘(C) FINAL REPORT.—On October 31 of 

24 each year, the Office of Management and Budg25 et shall issue a final sequestration report as deVerDate Sep 11 2014 23:31 Jun 08, 2021 Jkt 019200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H2879.IH H2879

kjohnson on DSK79L0C42PROD with BILLS
5 

•HR 2879 IH

1 scribed in section 254(f)(3), which shall be ac2 companied by a Presidential order detailing 

3 spending reductions equal to the excess outlay 

4 amount. 

5 ‘‘(D) PROCESS.—The reductions shall gen6 erally follow the process set forth in sections 

7 253 and 254, except as provided in this section. 

8 ‘‘(3) CONGRESSIONAL ACTION.—If the August 

9 20 report by the Office of Management and Budget 

10 projects a sequestration, the Committee on the 

11 Budget of the Senate and the Committee on the 

12 Budget of the House of Representatives may report 

13 a resolution directing committees of their House to 

14 change the existing law to achieve the spending re15 ductions outlined in the August 20 report necessary 

16 to meet the outlay limits. 

17 ‘‘(c) NO EXEMPT PROGRAMS.—Section 255 and sec18 tion 256 shall not apply to this section or any sequestra19 tion order issued under this section. 

20 ‘‘(d) LOOK BACK.—If, after November 14, a bill re21 sulting in outlays for the fiscal year in progress is enacted 

22 that causes excess outlays, the excess outlay amount for 

23 the next fiscal year shall be increased by the amount or 

24 amounts of that breach.’’. 

25 (b) CONFORMING AMENDMENTS TO BBEDCA.— 


kjohnson on DSK79L0C42PROD with BILLS
6 

•HR 2879 IH

1 (1) SEQUESTRATION PREVIEW REPORTS.—Sec2 tion 254(c)(4) of the Balanced Budget and Emer3 gency Deficit Control Act of 1985 (2 U.S.C. 

4 904(c)(4)) is amended to read as follows: 

5 ‘‘(4) OUTLAY CAP SEQUESTRATION REPORTS.— 

6 The preview reports shall set forth for the budget 

7 year estimates for the following: 

8 ‘‘(A)(i) For each of budget years 2022 

9 through 2026, total projected outlays (less net 

10 interest payments), less one percent. 

11 ‘‘(ii) For budget year 2027 and each sub12 sequent budget year, the estimated gross do13 mestic product for that budget year. 

14 ‘‘(B) The amount of reductions required 

15 under section 253A. 

16 ‘‘(C) The sequestration percentage nec17 essary to achieve the required reduction under 

18 section 253A.’’. 

19 (2) FINAL SEQUESTRATION REPORTS.—Section 

20 254(f)(3) of the Balanced Budget and Emergency 

21 Deficit Control Act of 1985 (2 U.S.C. 904(f)(3)) is 

22 amended to read as follows: 

23 ‘‘(3) OUTLAY CAPS SEQUESTRATION RE24 PORTS.—The final reports shall contain all the infor25 mation required in the outlay cap sequestration preVerDate Sep 11 2014 23:31 Jun 08, 2021 Jkt 019200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\H2879.IH H2879

kjohnson on DSK79L0C42PROD with BILLS
7 

•HR 2879 IH

1 view reports. In addition, these reports shall contain, 

2 for the budget year, for each account to be seques3 tered, estimates of the baseline level of sequestrable 

4 budgetary resources and resulting outlays and the 

5 amount of budgetary sources to be sequestered and 

6 result in outlay reductions. The reports shall also 

7 contain estimates of the effects on outlays on the se8 questration of each outyear for direct spending pro9 grams.’’. 

10 (c) ENFORCEMENT.—Title III of the Congressional 

11 Budget Act of 1974 (2 U.S.C. 631 et seq.) is amended 

12 by adding after section 315 the following: 

13 ‘‘SEC. 316. ENFORCEMENT PROCEDURES. 

14 ‘‘(a) OUTLAY CAPS.—It shall not be in order in the 

15 House of Representatives or the Senate to consider any 

16 bill, joint resolution, amendment, amendment between the 

17 Houses, or conference report that includes any provision 

18 that would cause the most recently reported, current out19 lay cap set forth in section 253A of the Balanced Budget 

20 and Emergency Deficit Control Act of 1985 to be 

21 breached or increased. 

22 ‘‘(b) WAIVER OR SUSPENSION.— 

23 ‘‘(1) IN THE SENATE.—The provisions of this 

24 section may be waived or suspended in the Senate 


kjohnson on DSK79L0C42PROD with BILLS
8 

•HR 2879 IH

1 only by the affirmative vote of two-thirds of the 

2 Members, duly chosen and sworn. 

3 ‘‘(2) IN THE HOUSE.—The provisions of this 

4 section may be waived or suspended in the House of 

5 Representatives only by a rule or order proposing 

6 only to waive such provisions by an affirmative vote 

7 of two-thirds of the Members, duly chosen and 

8 sworn. 

9 ‘‘(c) POINT OF ORDER PROTECTION.—In the House, 

10 it shall not be in order to consider a rule or order that 

11 waives the application of paragraph (2) of subsection (b). 

12 ‘‘(d) MOTION TO SUSPEND.—It shall not be in order 

13 for the Speaker to entertain a motion to suspend the appli14 cation of this section under clause 1 of rule XV.’’. 

15 SEC. 3. CONFORMING AMENDMENTS. 

16 The table of contents set forth in— 

17 (1) section 1(b) of the Congressional Budget 

18 and Impoundment Control Act of 1974 is amended 

19 by inserting after the item relating to section 315 

20 the following new item: 

‘‘Sec. 316. Enforcement procedures.’’; 

21 and 

22 (2) section 250(a) of the Balanced Budget and 

23 Emergency Deficit Control Act of 1985 is amended 


kjohnson on DSK79L0C42PROD with BILLS
9 

•HR 2879 IH

1 by inserting after the item relating to section 253 

2 the following new item: 

‘‘Sec. 253A. Establishing outlay caps.’’. 

3 SEC. 4. EFFECTIVE DATE. 

4 This Act and the amendments made by this Act shall 

5 apply to fiscal year 2022 and each fiscal year thereafter, 

6 including any reports and calculations required for imple7 mentation in fiscal year 2022. 

Æ 


kjohnson on DSK79L0C42PROD with BILLS