I 
117TH CONGRESS 
1ST SESSION H. R. 4869 
To establish processes to control inflationary pressures and the Federal debt, 
during Federal debt emergencies. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 30, 2021 
Mr. BANKS introduced the following bill; which was referred to the Committee 
on Rules, and in addition to the Committee on Appropriations, for a pe-
riod to be subsequently determined by the Speaker, in each case for con-
sideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
A BILL 
To establish processes to control inflationary pressures and 
the Federal debt, during Federal debt emergencies. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Federal Debt Emer-
gency Control Act of 2021’’. 
SEC. 2. DEFINITIONS. 
In this Act— 
(1) the terms ‘‘budget year’’ and ‘‘current 
year’’ have the meanings given those terms in sec-
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tion 250(c) of the Balanced Budget and Emergency 
Deficit Control Act of 1985 (2 U.S.C. 900(c); 
(2) the term ‘‘eligible bill’’ means a bill intro-
duced in the House of Representatives or Senate— 
(A) during a Federal debt emergency pe-
riod; 
(B) the title of which is ‘‘To provide for 
deficit reduction under the Federal Debt Emer-
gency Control Act of 2021.’’; 
(C) that, if enacted, would result in a re-
duction of the deficit of not less than 5 percent 
during the 10-fiscal-year period following the 
current fiscal year; and 
(D) that does not increase the rate of any 
Federal tax or increase any fee paid to the Fed-
eral Government; 
(3) the term ‘‘Federal debt emergency period’’ 
means the fiscal year following a fiscal year during 
which the amount of the debt of the Federal Govern-
ment held by the public exceeded the gross domestic 
product of the United States for that fiscal year; 
(4) the term ‘‘outlays’’ has the meaning given 
that term in section 3 of the Congressional Budget 
and Impoundment Control Act of 1974 (2 U.S.C. 
621); and 
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(5) the term ‘‘stimulus spending’’ means 
amounts made available under— 
(A) the Coronavirus Preparedness and Re-
sponse Supplemental Appropriations Act, 2020 
(Public Law 116–123; 134 Stat 146); 
(B) the Families First Coronavirus Re-
sponse Act (Public Law 116–127; 134 Stat. 
178); 
(C) the CARES Act (Public Law 116–136; 
134 Stat. 281); 
(D) the Paycheck Protection Program and 
Health Care Enhancement Act (Public Law 
116–139; 134 Stat. 620); 
(E) division N (relating to additional 
coronavirus response and relief) of the Consoli-
dated Appropriations Act, 2021 (Public Law 
116–260); or 
(F) the American Rescue Plan Act of 2021 
(Public Law 117–2). 
SEC. 3. FEDERAL DEBT EMERGENCY CONTROL. 
(a) TERMINATION OF UNSPENT STIMULUS SPEND-
ING IN A FEDERAL DEBT EMERGENCY.—Effective on the 
first day of the first Federal debt emergency period, as 
determined by the Director of the Office of Management 
and Budget, the unobligated balances of all stimulus 
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spending are rescinded and shall be returned to the gen-
eral fund of the Treasury. 
(b) SELF-FINANCING OF LEGISLATION INCREASING 
SPENDING DURING A FEDERAL DEBT EMERGENCY.— 
(1) POINT OF ORDER.—During a Federal debt 
emergency period, it shall not be in order in the Sen-
ate to consider any bill, joint resolution, motion, 
amendment, amendment between the Houses, or 
conference report that (excluding changes in Federal 
tax revenue, if any) would— 
(A) increase outlays, relative to the most 
recent baseline under section 257 of the Bal-
anced Budget and Emergency Deficit Control 
Act of 1985 (2 U.S.C. 907) over the period of 
the current year, the budget year, and the ensu-
ing 9 fiscal years; or 
(B) increase the deficit over the period of 
the current year, the budget year, and the ensu-
ing 9 fiscal years. 
(2) DETERMINATION.—The determination of 
the existence of a Federal debt emergency period, 
outlays, and the deficit for purposes of paragraph 
(1) shall be based on estimates provided by the Con-
gressional Budget Office. 
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(3) WAIVER AND APPEAL.—Paragraph (1) may 
be waived or suspended in the Senate only by an af-
firmative vote of two thirds of the Members, duly 
chosen and sworn. An affirmative vote of two thirds 
of the Members of the Senate, duly chosen and 
sworn, shall be required to sustain an appeal of the 
ruling of the Chair on a point of order raised under 
paragraph (1). 
(4) EXERCISE OF RULEMAKING POWERS.—Con-
gress adopts the provisions of this subsection— 
(A) as an exercise of the rulemaking power 
of the Senate, and as such they shall be consid-
ered as part of the rules of the Senate, and 
such rules shall supersede other rules only to 
the extent that they are inconsistent with such 
other rules; and 
(B) with full recognition of the constitu-
tional right of the Senate to change those rules 
(insofar as they relate to the Senate) at any 
time, in the same manner, and to the same ex-
tent as is the case of any other rule of the Sen-
ate. 
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SEC. 4. EXPEDITED CONSIDERATION OF DEFICIT REDUC-
ING BILLS. 
(a) CONSIDERATION IN THE HOUSE OF REPRESENT-
ATIVES.— 
(1) REFERRAL
AND
REPORTING.—Any com-
mittee of the House of Representatives to which an 
eligible bill is referred shall report it to the House 
without amendment not later than 30 days after the 
date on which the eligible bill is introduced. If a 
committee fails to report an eligible bill within that 
period, it shall be in order to move that the House 
discharge the committee from further consideration 
of the bill. Such a motion shall not be in order after 
the last committee authorized to consider the bill re-
ports it to the House or after the House has dis-
posed of a motion to discharge the bill. The previous 
question shall be considered as ordered on the mo-
tion to its adoption without intervening motion ex-
cept 20 minutes of debate equally divided and con-
trolled by the proponent and an opponent. If such 
a motion is adopted, the House shall proceed imme-
diately to consider the eligible bill in accordance with 
paragraphs (2) and (3). A motion to reconsider the 
vote by which the motion is disposed of shall not be 
in order. 
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(2) PROCEEDING
TO
CONSIDERATION.—After 
the last committee authorized to consider an eligible 
bill reports it to the House or has been discharged 
(other than by motion) from its consideration, it 
shall be in order to move to proceed to consider the 
eligible bill in the House. Such a motion shall not 
be in order after the House has disposed of a motion 
to proceed with respect to the eligible bill. The pre-
vious question shall be considered as ordered on the 
motion to its adoption without intervening motion. A 
motion to reconsider the vote by which the motion 
is disposed of shall not be in order. 
(3) CONSIDERATION.—An eligible bill shall be 
considered as read. All points of order against an el-
igible bill and against its consideration are waived. 
The previous question shall be considered as ordered 
on an eligible bill to its passage without intervening 
motion except 2 hours of debate equally divided and 
controlled by the proponent and an opponent and 
one motion to limit debate on the eligible bill. A mo-
tion to reconsider the vote on passage of an eligible 
bill shall not be in order. 
(4) VOTE ON PASSAGE.—The vote on passage 
of an eligible bill shall occur not later than 30 days 
after the date on which the eligible bill is introduced. 
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(b) EXPEDITED PROCEDURE IN THE SENATE.— 
(1) COMMITTEE CONSIDERATION.—An eligible 
bill introduced in the Senate shall be jointly referred 
to the committee or committees of jurisdiction, 
which committees shall report the bill without any 
revision and with a favorable recommendation, an 
unfavorable 
recommendation, 
or 
without 
rec-
ommendation, not later than 30 days after the date 
on which the eligible bill is introduced. If any com-
mittee fails to report an eligible bill within that pe-
riod, that committee shall be automatically dis-
charged from consideration of the eligible bill, and 
the eligible bill shall be placed on the appropriate 
calendar. 
(2) MOTION
TO
PROCEED.—Notwithstanding 
Rule XXII of the Standing Rules of the Senate, it 
is in order, not later than 2 days of session after the 
date on which an eligible bill is reported or dis-
charged from all committees to which it was re-
ferred, for the majority leader of the Senate or the 
majority leader’s designee to move to proceed to the 
consideration of the eligible bill. It shall also be in 
order for any Member of the Senate to move to pro-
ceed to the consideration of the eligible bill at any 
time after the conclusion of such 2-day period. A 
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motion to proceed is in order even though a previous 
motion to the same effect has been disagreed to. All 
points of order against the motion to proceed to an 
eligible bill are waived. The motion to proceed is not 
debatable. The motion is not subject to a motion to 
postpone. A motion to reconsider the vote by which 
the motion is agreed to or disagreed to shall not be 
in order. If a motion to proceed to the consideration 
of an eligible bill is agreed to, the eligible bill shall 
remain the unfinished business until disposed of. 
(3) CONSIDERATION.—All points of order 
against an eligible bill and against consideration of 
the eligible bill are waived. Consideration of an eligi-
ble bill and of all debatable motions and appeals in 
connection therewith shall not exceed a total of 30 
hours which shall be divided equally between the 
Majority and Minority Leaders or their designees. A 
motion further to limit debate on an eligible bill is 
in order, shall require an affirmative vote of three- 
fifths of the Members duly chosen and sworn, and 
is not debatable. Any debatable motion or appeal is 
debatable for not to exceed 1 hour, to be divided 
equally between those favoring and those opposing 
the motion or appeal. All time used for consideration 
of an eligible bill, including time used for quorum 
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calls and voting, shall be counted against the total 
30 hours of consideration. 
(4) NO AMENDMENTS.—An amendment to an 
eligible bill, or a motion to postpone, or a motion to 
proceed to the consideration of other business, or a 
motion to recommit the eligible bill, is not in order. 
(5) VOTE
ON
PASSAGE.—If the Senate has 
voted to proceed to an eligible bill, the vote on pas-
sage of the eligible bill shall occur immediately fol-
lowing the conclusion of the debate on the eligible 
bill, and a single quorum call at the conclusion of 
the debate if requested. The vote on passage of an 
eligible bill shall occur not later than 30 days after 
the date on which the eligible bill is introduced. 
(6) RULINGS OF THE CHAIR ON PROCEDURE.— 
Appeals from the decisions of the Chair relating to 
the application of the rules of the Senate, as the 
case may be, to the procedure relating to an eligible 
bill shall be decided without debate. 
(c) AMENDMENT.—An eligible bill shall not be sub-
ject to amendment in either the House of Representatives 
or the Senate. 
(d) CONSIDERATION BY THE OTHER HOUSE.— 
(1) IN GENERAL.—If one House receives from 
the other an eligible bill— 
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(A) the eligible bill of the other House 
shall not be referred to a committee; and 
(B) the eligible bill of the other House 
shall be entitled to expedited floor procedures 
under this section. 
(2) REVENUE MEASURE.—This subsection shall 
not apply to the House of Representatives if an eligi-
ble bill received from the Senate is a revenue meas-
ure. 
(e) VETOES.—If the President vetoes an eligible bill, 
debate on a veto message in the Senate under this section 
shall be 1 hour equally divided between the majority and 
minority leaders or their designees. 
(f) LOSS OF PRIVILEGE.—The provisions of this sec-
tion shall only apply to an eligible bill during a Federal 
debt emergency period. 
(g) RULEMAKING.—The provisions of this section are 
enacted by Congress— 
(1) as an exercise of the rulemaking power of 
the House of Representatives and the Senate, re-
spectively, and as such they shall be considered as 
part of the rules of each House, respectively, or of 
that House to which they specifically apply, and 
such rules shall supersede other rules only to the ex-
tent that they are inconsistent therewith; and 
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(2) with full recognition of the constitutional 
right of either House to change such rules (so far 
as relating to such House) at any time, in the same 
manner, and to the same extent as in the case of 
any other rule of such House. 
Æ 
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