formation prepared by the Director of the Congressional 
Budget Office indicating each of the following matters: 
(1) The amounts of new budget authority au-
thorized and provided for the program for each of 
the preceding four fiscal years and, where applicable, 
the four succeeding fiscal years. 
(2) The functional and subfunctional category 
in which the program is presently classified and was 
classified under the fiscal year 2010 budget. 
(3) The identification code and title of the ap-
propriation account in which budget authority is 
provided for the program. 
(f) MUTUAL EXCHANGE
OF INFORMATION.—The 
General Accounting Office, the Congressional Research 
Service, and the Congressional Budget Office shall permit 
the mutual exchange of available information in their pos-
session which would aid in the compilation of the program 
inventory. 
(g) ASSISTANCE BY EXECUTIVE BRANCH.—The Of-
fice of Management and Budget, and the Executive agen-
cies and the subdivisions thereof shall, to the extent nec-
essary and possible, provide the General Accounting Office 
with assistance requested by the Comptroller General in 
the compilation of the program inventory. 
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SEC. 209. DEFINITION OF AGENCY. 
As used in this title, the term ‘‘agency’’ has the 
meaning given that term by section 105 of title 5, United 
States Code, except that such term includes an advisory 
committee as that term is defined in section 102(2) of the 
Federal Advisory Committee Act. 
SEC. 210. OFFSET OF AMOUNTS APPROPRIATED. 
Amounts appropriated to carry out this title shall be 
offset by a reduction in amounts appropriated to carry out 
programs of other Federal agencies. 
TITLE III—ESTABLISHMENT OF 
JOINT 
SELECT 
COMMITTEE 
ON EARMARK REFORM 
SEC. 301. JOINT SELECT COMMITTEE ON EARMARK RE-
FORM. 
(a) ESTABLISHMENT AND COMPOSITION.—There is 
hereby established a Joint Select Committee on Earmark 
Reform. The joint select committee shall be composed of 
16 members as follows: 
(1) 8 Members of the House of Representatives, 
4 appointed from the majority party by the Speaker 
of the House, and 4 from the minority party to be 
appointed by the minority leader; and 
(2) 8 Members of the Senate, 4 appointed from 
the majority party by the majority leader of the Sen-
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ate, and 4 from the minority party to be appointed 
by the minority leader. 
A vacancy in the joint select committee shall not affect 
the power of the remaining members to execute the func-
tions of the joint select committee, and shall be filled in 
the same manner as the original selection. 
(b) STUDY AND REPORT.— 
(1) STUDY.—The joint select committee shall 
make a full study of the practices of the House, Sen-
ate, and Executive Branch regarding earmarks in 
authorizing, appropriation, tax, and tariff measures. 
As part of the study, the joint select committee shall 
consider the efficacy of— 
(A) the disclosure requirements of clause 9 
of rule XXI and clause 17 of rule XXIII of the 
Rules of the House of Representatives and rule 
XLIV of the Standing Rules of the Senate, and 
the definitions contained therein; 
(B) requiring full transparency in the proc-
ess, with earmarks listed in bills at the outset 
of the legislative process and continuing 
throughout consideration; 
(C) requiring that earmarks not be placed 
in any bill after initial committee consideration; 
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(D) requiring that Members be permitted 
to offer amendments to remove earmarks at 
subcommittee, full committee, floor consider-
ation, and during conference committee meet-
ings; 
(E) requiring that bill sponsors and major-
ity and minority managers certify the validity of 
earmarks contained in their bills; 
(F) recommending changes to earmark re-
quests made by the Executive Branch through 
the annual budget submitted to Congress pur-
suant to section 1105 of title 31, United States 
Code; 
(G) requiring that House and Senate 
amendments meet earmark disclosure require-
ments, including amendments adopted pursuant 
to a special order of business; 
(H) establishing new categories for ear-
marks, including— 
(i) projects with National scope; 
(ii) military projects; and 
(iii) local or provincial projects, in-
cluding the level of matching funds re-
quired for such project. 
(2) REPORT.— 
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(A) The joint select committee shall submit 
to the House and the Senate a report of its 
findings and recommendations not later than 6 
months after the enactment of this Act. 
(B) No recommendation shall be made by 
the joint select committee except upon the ma-
jority vote of the members from each House, re-
spectively. 
(C) Notwithstanding any other provision of 
this resolution, any recommendation with re-
spect to the rules and procedures of one House 
that only affects matters related solely to that 
House may only be made and voted on by mem-
bers of the joint select committee from that 
House and, upon its adoption by a majority of 
such members, shall be considered to have been 
adopted by the full committee as a rec-
ommendation of the joint select committee. 
In conducting the study under paragraph (1), the joint 
select committee shall hold not fewer than 5 public hear-
ings. 
(c) RESOURCES AND DISSOLUTION.— 
(1) The joint select committee may utilize the 
resources of the House and Senate. 
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(2) The joint select committee shall cease to 
exist 30 days after the submission of the report de-
scribed in subsection (a)(2). 
(d) DEFINITION.—For purposes of this section, the 
term ‘‘earmark’’ shall include congressional earmarks, 
congressionally directed spending items, limited tax bene-
fits, or limited tariff benefits as those terms are used in 
clause 9 of rule XXI of the Rules of the House of Rep-
resentatives and rule XLIV of the Standing Rules of the 
Senate. Nothing in this subsection shall confine the study 
of the joint select committee or otherwise limit its rec-
ommendations. 
SEC. 302. MORATORIUM ON CONSIDERATION OF EAR-
MARKS. 
(a) IN THE HOUSE.—It shall not be in order to con-
sider a bill, joint resolution, or conference report con-
taining a congressional earmark, limited tax benefit, or 
limited tariff benefit (as such terms are used in clause 
9 of rule XXI of the Rules of the House of Representa-
tives) until the filing of the report required under section 
301. 
(b) IN THE SENATE.—øTo be supplied.¿ 
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TITLE IV—ESTABLISHMENT OF 
THE 
SECURING 
AMERICA’S 
FUTURE ECONOMY COMMIS-
SION 
SEC. 401. ESTABLISHMENT. 
There is established a commission to be known as the 
‘‘Securing America’s Future Economy Commission’’ 
(hereinafter in this title referred to as the ‘‘Commission’’). 
SEC. 402. DUTIES OF COMMISSION. 
(a) MANDATORY LEGISLATION DEVELOPMENT.— 
(1) ISSUES
TO
ADDRESS.—The Commission 
shall examine the long-term fiscal challenges facing 
the United States and develop legislation designed to 
address the following issues: 
(A) The unsustainable imbalance between 
long-term Federal spending commitments and 
projected revenues. 
(B) Increasing net national savings to pro-
vide for domestic investment and economic 
growth. 
(C) The implications of foreign ownership 
of debt instruments issued by the United States 
Government. 
(D) Improving the budget process to place 
greater emphasis on long-term fiscal issues. 
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(2) POLICY SOLUTIONS.—Legislation developed 
to address the issues described in paragraph (1) may 
include the following: 
(A) Reforms that limit the growth of enti-
tlement spending to ensure that the programs 
are fiscally sustainable. 
(B) Reforms that strengthen the safety net 
functions of entitlement programs to provide 
assistance to the neediest people. 
(C) Reforms that make United States tax 
laws more efficient and more conducive to en-
couraging economic growth. 
(D) Incentives to increase private savings. 
(E) Any other reforms designed to address 
the issues described in paragraph (1). 
(b) OPTIONAL DEVELOPMENT OF COST ESTIMATE 
ALTERNATIVES.— 
(1) IN GENERAL.—The Commission shall by an 
affirmative vote of 5 members develop not more than 
2 methods for estimating the cost of legislation as 
an alternative to the method currently used by the 
Congressional Budget Office. 
(2) SPECIFICALLY.—Any such alternative meth-
od must— 
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(A) be designed to address any short-
comings in the method currently used with re-
gard to estimating the positive economic effects 
of legislation; and 
(B) consider the use of automatic stabi-
lizers or triggers to enforce spending and rev-
enue targets, in the event that policies based on 
the alternative method fail to achieve targets 
for outlays and revenues. 
(3) LIMITATION.—Any alternative developed 
pursuant to this subsection shall generally comply 
with subsections (b), (c), and (d) of section 413. 
SEC. 403. INITIAL TOWN HALL STYLE PUBLIC HEARINGS. 
(a) IN GENERAL.—The Commission shall hold at 
least 1 town hall style public hearing within each Federal 
reserve district, and shall, to the extent feasible, ensure 
that there is broad public participation in the hearings. 
(b) HEARING FORMAT.—During each hearing, the 
Commission shall present to the public, and generate com-
ments and suggestions regarding, the issues described in 
section 402, policies designed to address the issues, and 
tradeoffs between the policies. 
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SEC. 404. REPORT. 
The Commission shall, not later than 1 year after the 
date of the enactment of this Act, submit a report to Con-
gress and the President containing the following: 
(1) A detailed description of the activities of the 
Commission. 
(2) A summary of comments and suggestions 
generated from the town hall style public hearings. 
(3) A detailed statement of any findings of the 
Commission as to public preferences regarding the 
issues, policies, and tradeoffs presented in the town 
hall style public hearings. 
(4) A detailed description of the long-term fis-
cal problems faced by the United States. 
(5) A list of policy options for addressing those 
problems. 
(6) Criteria for the legislative proposal to be de-
veloped by the Commission. 
SEC. 405. LEGISLATIVE PROPOSAL. 
(a) IN GENERAL.—Not later than 60 days after the 
date the report is submitted under section 404 and by a 
vote of three-fourths of the members, the Commission 
shall submit a legislative proposal to Congress and the 
President designed to address the issues described section 
402. 
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(b) PROPOSAL REQUIREMENTS.—The proposal must, 
to the extent feasible, be designed— 
(1) to achieve generational equity and long-term 
economic stability; 
(2) to address the comments and suggestions of 
the public; and 
(3) to meet the criteria set forth in the Com-
mission report. 
(c) INCLUSION OF COST ESTIMATE.—The Commis-
sion shall submit with the proposal— 
(1) a long-term CBO cost estimate prepared 
under section 413 for the proposal; and 
(2) if an alternative cost estimate method is de-
veloped by the Commission, a 50-year cost estimate 
using such method. 
SEC. 406. MEMBERSHIP AND MEETINGS. 
(a) IN GENERAL.—The Commission shall be com-
posed of 16 voting members appointed pursuant to para-
graph (1) and 2 nonvoting members described in para-
graph (2). 
(1) VOTING MEMBERS.—The Commission shall 
be composed of 16 voting members of whom— 
(A) one shall be the Director of the Office 
of Management and Budget; 
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(B) one shall be the Secretary of the 
Treasury; 
(C) four shall be appointed by the Speaker 
of the House of Representatives; 
(D) three shall be appointed by the minor-
ity leader of the House of Representatives; 
(E) four shall be appointed by the majority 
leader of the Senate; and 
(F) three shall be appointed by the minor-
ity leader of the Senate. 
(2) NONVOTING
MEMBERS.—The Comptroller 
General of the United States and the Director of the 
Congressional Budget Office shall each be nonvoting 
members of the Commission and shall advise and as-
sist at the request of the Commission. 
(3) CHAIR AND CO-CHAIR.—The President shall 
designate 2 co-chairpersons of the Commission from 
the members appointed under paragraph (1), one of 
whom must be a Republican and one of whom must 
be a Democrat. 
(b) LIMITATIONS AS TO MEMBERS OF CONGRESS.— 
(1) FOUR MEMBERS OF CONGRESS ON COMMIS-
SION.—Each appointing authority described in sub-
section (a)(1) who is a member of Congress shall ap-
point 1 member of Congress to the Commission but 
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may not appoint more than 1 member of Congress 
to the Commission. 
(2) CONTINUATION OF VOTING MEMBERSHIP.— 
In the case of an individual appointed pursuant to 
subsection (a)(1) who was appointed as a member of 
Congress under paragraph (1), if such individual 
ceases to be a member of Congress, that individual 
shall cease to be a member of the Commission. 
(c) DATE FOR ORIGINAL APPOINTMENT.—The ap-
pointing authorities described in subsection (a)(1) shall 
appoint the initial members of the Commission not later 
than 30 days after the date of enactment of this Act. 
(d) TERMS.— 
(1) IN GENERAL.—The term of each member is 
for the life of the Commission. 
(2) VACANCIES.—A vacancy in the Commission 
shall be filled not later than 30 days after such va-
cancy occurs and in the manner in which the origi-
nal appointment was made. 
(e) PAY AND REIMBURSEMENT.— 
(1) NO COMPENSATION FOR MEMBERS OF COM-
MISSION.—Except as provided in paragraph (2), a 
member of the Commission may not receive pay, al-
lowances, or benefits by reason of their service on 
the Commission. 
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(2) TRAVEL
EXPENSES.—Each member shall 
receive travel expenses, including per diem in lieu of 
subsistence under subchapter I of chapter 57 of title 
5, United States Code. 
(f) MEETINGS.—The Commission shall meet upon 
the call of the chairperson or a majority of its voting mem-
bers. 
(g) QUORUM.—Six voting members of the Commis-
sion shall constitute a quorum, but a lesser number may 
hold hearings. 
SEC. 407. DIRECTOR AND STAFF OF COMMISSION. 
(a) DIRECTOR.— 
(1) IN
GENERAL.—Subject to subsection (c) 
and to the extent provided in advance in appropria-
tion Acts, the Commission shall appoint and fix the 
pay of a director. 
(2) DUTIES.—The director of the Commission 
shall be responsible for the administration and co-
ordination of the duties of the Commission and shall 
perform other such duties as the Commission may 
direct. 
(b) STAFF.—In accordance with rules agreed upon 
by the Commission, subject to subsection (c), and to the 
extent provided in advance in appropriation Acts, the di-
rector may appoint and fix the pay of additional personnel. 
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(c) APPLICABILITY
OF CERTAIN CIVIL SERVICE 
LAWS.—The director and staff of the Commission may be 
appointed without regard to the provisions of title 5, 
United States Code, governing appointments in the com-
petitive service, and may be paid without regard to the 
provisions of chapter 51 and subchapter III of chapter 53 
of that title relating to classification and General Schedule 
pay rates, except that pay fixed under subsection (a) may 
not exceed $150,000 per year and pay fixed under sub-
section (b) may not exceed a rate equal to the daily equiva-
lent of the annual rate of basic pay for level V of the Exec-
utive Schedule under section 5316 of title 5, United States 
Code. 
(d) DETAILEES.—Any Federal Government employee 
may be detailed to the Commission without reimbursement 
from the Commission, and such detailee shall retain the 
rights, status, and privileges of their regular employment 
without interruption. 
(e) EXPERTS
AND CONSULTANTS.—In accordance 
with rules agreed upon by the Commission and to the ex-
tent provided in advance in appropriation Acts, the direc-
tor may procure the services of experts and consultants 
under section 3109(b) of title 5, United States Code, but 
at rates not to exceed the daily equivalent of the annual 
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rate of basic pay for level V of the Executive Schedule 
under section 5316 of title 5, United States Code. 
SEC. 408. POWERS OF COMMISSION. 
(a) HEARINGS
AND EVIDENCE.—The Commission 
may, for the purpose of carrying out this title, hold such 
hearings in addition to the town hall style public hearings, 
sit and act at such times and places, take such testimony, 
and receive such evidence as the Commission considers ap-
propriate. The Commission may administer oaths or affir-
mations to witnesses appearing before it. 
(b) POWERS OF MEMBERS AND AGENTS.—Any mem-
ber or agent of the Commission may, if authorized by the 
Commission, take any action which the Commission is au-
thorized to take under this section. 
(c) MAILS.—The Commission may use the United 
States mails in the same manner and under the same con-
ditions as other departments and agencies of the United 
States. 
(d) ADMINISTRATIVE SUPPORT SERVICES.—Upon 
the request of the Commission, the Administrator of Gen-
eral Services shall provide to the Commission, on a reim-
bursable basis, the administrative support services nec-
essary for the Commission to carry out its responsibilities 
under this title. 
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(e) CONTRACT AUTHORITY.—To the extent provided 
in advance in appropriation Acts, the Commission may 
enter into contracts to enable the Commission to discharge 
its duties under this title. 
(f) GIFTS.—The Commission may accept, use, and 
dispose of gifts or donations of services or property. 
SEC. 409. TERMINATION. 
The Commission shall terminate the earlier of— 
(1) 60 days after submitting its legislative pro-
posal; or 
(2) the date on which the Comptroller General 
of the United States determines and publishes in the 
Federal Register a statement that new legislation 
has been enacted that is estimated to reduce the fis-
cal gap by— 
(A) 1 percent of gross domestic product, 
measured over the 20-year period beginning 
with the first fiscal year after the date of enact-
ment of such legislation; and 
(B) 2 percent of gross domestic product, 
measured over the 50-year period beginning 
with the first fiscal year after the date of enact-
ment of such legislation. 
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SEC. 410. ALTERNATIVE LEGISLATIVE PROPOSAL OF PRESI-
DENT. 
The President may, not later than 90 calendar days 
after the Commission submits its legislative proposal, sub-
mit to Congress an alternative to the legislative proposal 
submitted by the Commission. 
SEC. 411. ALTERNATIVE LEGISLATIVE PROPOSAL FROM 
THE COMMITTEE ON THE BUDGET. 
(a) FROM COMMITTEE.—The Committee on the 
Budget of either House may, in consultation with the rel-
evant committees of their respective House and not later 
than 90 calendar days after the Commission submits its 
legislative proposal, have published in the Congressional 
Record an alternative to the legislative proposal submitted 
by the Commission. 
(b) FROM RANKING MEMBER OF THE COMMITTEE.— 
The ranking minority member of the Committee on the 
Budget of either House may, not later than 90 calendar 
days after the Commission submits its legislative proposal, 
have published in the Congressional Record an alternative 
to the legislative proposal submitted by the Commission. 
SEC. 412. CONSIDERATION OF LEGISLATION. 
(a) INTRODUCTION.—Not later than the fifth legisla-
tive day after the Commission submits its legislative pro-
posal, the majority leader of each House, or his designee, 
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shall introduce (by request) the legislation submitted by 
the Commission. 
(b) IN THE HOUSE OF REPRESENTATIVES.— 
(1) 
PRIVILEGED
CONSIDERATION.—In 
the 
House of Representatives, the legislation shall be re-
ported to the Committee on the Budget, which shall 
report the bill without substantive revision. If the 
Committee on the Budget has not reported the legis-
lation before the expiration of the 90-day period de-
scribed in section 411, then— 
(A) that committee shall be discharged 
from consideration of the legislation; 
(B) the legislation shall be placed on the 
appropriate calendar; and 
(C) a motion to proceed to the consider-
ation of the legislation shall be highly privileged 
and shall not be debatable, and a motion to re-
consider the vote by which the motion is dis-
posed of shall not be in order. 
(2) CONSIDERATION
CONSISTENT
WITH
CON-
GRESSIONAL BUDGET ACT.—Consideration of such 
legislation shall be pursuant to the procedures set 
forth in paragraphs (2), (5), and (6) of section 
305(a) of the Congressional Budget Act of 1974 to 
the extent not inconsistent with this title. 
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(3) AMENDMENTS LIMITED.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), an amendment to the legis-
lation may not be offered in the House of Rep-
resentatives. 
(B) PERMITTED
AMENDMENTS.—(i) Any 
member may offer, as an amendment in the na-
ture of a substitute, the alternative legislative 
proposal submitted by the President. 
(ii) The chairman of the House Committee 
on the Budget may offer, as an amendment in 
the nature of a substitute, the alternative legis-
lative proposal published in the Congressional 
Record by the House Committee on the Budget. 
(iii) The ranking minority member of the 
House Committee on the Budget may offer, as 
an amendment in the nature of a substitute, 
the alternative legislative proposal published in 
the Congressional Record by such ranking mi-
nority member. 
(C) POINT OF ORDER.— 
(i) IN GENERAL.—An amendment of-
fered under subparagraph (B) is subject to 
a point of order if— 
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(I) the amendment is not accom-
panied by a long-term CBO cost esti-
mate of the amendment or a long- 
term revenue estimate of the amend-
ment, which includes the information 
described in section 413, by the Joint 
Committee on Taxation; or 
(II) it would increase the deficit 
or cause a deficit either for the period 
of the first 20 fiscal years beginning 
with the first fiscal year after the cur-
rent fiscal year or for the period of 
the first 50 fiscal years beginning 
with the first fiscal year after the cur-
rent fiscal year, as judged against the 
baseline. 
(ii) 
BASELINE.—For 
purposes 
of 
clause (i)(II), the baseline shall be cal-
culated using the assumption that the leg-
islation submitted by the Commission has 
been enacted into law, subject to the limi-
tation imposed by section 413(d). 
(iii) WAIVER.—A point of order raised 
under clause (i) may only be waived or sus-
pended in the House of Representatives by 
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a resolution devoted solely to the subject of 
waiving that point of order. 
(D) MULTIPLE
AMENDMENTS.—If more 
than one amendment is offered under this para-
graph, then each amendment shall be consid-
ered separately, and the amendment receiving 
both a majority and the highest number of 
votes shall be the amendment adopted. 
(4) TRANSMITTAL TO THE SENATE.—If the leg-
islation passed in the House of Representatives pur-
suant to this section, the Clerk of the House of Rep-
resentatives shall cause the legislation to be en-
grossed, certified, and transmitted to the Senate not 
later than 1 calendar day after the day on which the 
legislation is passed. Such legislation shall be re-
ferred to the Senate Committee on the Budget. 
(c) IN THE SENATE.— 
(1) AUTOMATIC DISCHARGE OF SENATE BUDG-
ET COMMITTEE.—If the Senate Committee on the 
Budget has not reported the legislation before the 
expiration of the 90-day period described in section 
411, then— 
(A) the committee shall be discharged from 
consideration of the legislation; and 
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(B) a motion to proceed to the consider-
ation of the legislation is highly privileged and 
is not debatable. 
(2) CONSIDERATION.—Consideration of such 
legislation shall be pursuant to the procedures set 
forth in paragraphs (1), (2), (5), and (6) of section 
305(b) of the Congressional Budget Act of 1974 to 
the extent not inconsistent with this title. 
(3) AMENDMENTS LIMITED.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), an amendment to the legis-
lation may not be offered in the Senate. 
(B) PERMITTED
AMENDMENTS.—(i) Any 
member may offer, as an amendment in the na-
ture of a substitute, the alternative legislative 
proposal submitted by the President. 
(ii) The chairman of the Senate Committee 
on the Budget may offer, as an amendment in 
the nature of a substitute, the alternative legis-
lative proposal published in the Congressional 
Record by the Senate Committee on the Budg-
et. 
(iii) The ranking minority member of the 
Senate Committee on the Budget may offer, as 
an amendment in the nature of a substitute, 
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the alternative legislative proposal published in 
the Congressional Record by such ranking mi-
nority member. 
(C) POINT OF ORDER.— 
(i) IN GENERAL.—An amendment of-
fered under subparagraph (B) is subject to 
a point of order if— 
(I) the amendment is not accom-
panied by a long-term CBO cost esti-
mate of the amendment or a long- 
term revenue estimate of the amend-
ment, which includes the information 
described in section 413, by the Joint 
Committee on Taxation; or 
(II) it would increase the deficit 
or cause a deficit either for the period 
of the first 20 fiscal years beginning 
with the first fiscal year after the cur-
rent fiscal year or for the period of 
the first 50 fiscal years beginning 
with the first fiscal year after the cur-
rent fiscal year, as judged against the 
baseline. 
(ii) 
BASELINE.—For 
purposes 
of 
clause (i)(II), the baseline shall be cal-
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