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 Com-
mittee 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 com-
mittee concerned 
A BILL 
To amend the Congressional Budget Act of 1974 to provide 
for a debt stabilization process, and for other purposes. 
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 ‘‘Pay Down the Debt 
Act of 2015’’. 
SEC. 2. DEBT STABILIZATION PROCESS. 
(a) IN GENERAL.—The Congressional Budget Act of 
1974 is amended by inserting after title V the following: 
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‘‘TITLE VI—DEBT STABILIZATION 
‘‘SEC. 601. DEBT STABILIZATION PROCESS. 
‘‘(a) BUDGET TARGETS.—The budget target— 
‘‘(1) for fiscal year 2017 is a ratio of debt held 
by the public to the estimated gross domestic prod-
uct (GDP) of the United States that is lower than 
the ratio in fiscal year 2016; and 
‘‘(2) for a fiscal year after fiscal year 2017 is 
a ratio of debt held by the public to the estimated 
gross domestic product (GDP) of the United States 
that does not exceed the ratio in the prior fiscal 
year. 
‘‘(b) REPORTS.—During January of each calendar 
year beginning in 2015, the Director of the Office of Man-
agement and Budget shall report to the President and the 
Director of the Congressional Budget Office shall report 
to Congress whether the projected debt held by the public- 
to-GDP ratio will exceed the prior fiscal year’s ratio in 
any of the five ensuing fiscal years. 
‘‘(c) PRESIDENT’S BUDGET.—If the report of the Di-
rector of the Office of Management and Budget indicates 
that for any of fiscal years 2017 through 2025 the ratios 
set forth in subsection (a)(1) or (a)(2) will be exceeded, 
then the budget submission of the President under section 
1105(a) of title 31, United States Code, for that fiscal 
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year shall include legislative recommendations that achieve 
the applicable budget targets set forth in subsection (a). 
‘‘(d) CONGRESSIONAL ACTION.— 
‘‘(1) IN GENERAL.—If the report of the Direc-
tor of the Congressional Budget Office under sub-
section (b) indicates that for any of fiscal years 
2017 through 2025, the ratios set forth in sub-
section (a)(1) or (a)(2) will be exceeded, then the 
concurrent resolution on the budget for that fiscal 
year shall include stabilization instructions pursuant 
to section 310 directing committees of the House of 
Representatives and the Senate to determine and 
recommend changes in laws within their jurisdictions 
that achieve the budget targets set forth in sub-
section (a). 
‘‘(2) POINT
OF
ORDER.—It shall not be in 
order in the House of Representatives or the Senate 
to consider any concurrent resolution on the budget, 
or amendment thereto or conference report thereon, 
that fails to include directions to committees suffi-
cient to achieve the budget targets set forth in sub-
section (a). 
‘‘(3) DISCRETIONARY SPENDING LIMITS.—Any 
changes in the discretionary spending limits set 
forth in section 251(c) of the Balanced Budget and 
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Emergency Deficit Control Act of 1985 contained in 
any stabilization legislation referred to in this sub-
section shall not be considered to be extraneous mat-
ter for purposes of section 313. 
‘‘(e) ENFORCING STABILIZATION REQUIREMENT.— 
‘‘(1) IN GENERAL.—If, in any calendar year in 
which the debt stabilization process has been trig-
gered under subsection (d), Congress has not agreed 
to stabilization legislation and transmitted such leg-
islation to the President, it shall not be in order in 
the House of Representatives or the Senate to con-
sider any bill or joint resolution, or amendment 
thereto or conference report thereon, providing a net 
increase in mandatory budget authority or a net de-
crease in revenues. 
‘‘(2) POINT
OF
ORDER
IN
HOUSE
OF
REP-
RESENTATIVES.— 
‘‘(A) IN
GENERAL.—It shall not be in 
order in the House of Representatives to con-
sider a rule or order that waives the application 
of paragraph (1). 
‘‘(B) DISPOSITION IF POINT OF ORDER.— 
As disposition of points of order under para-
graph (1), the Chair shall put the question of 
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consideration with respect to the proposition 
that is subject to the points of order. 
‘‘(C) DEBATE.—A question of consider-
ation under this paragraph shall be debatable 
for ten minutes by each Member initiating a 
point of order and for ten minutes by an oppo-
nent on each point of order, but shall otherwise 
be decided without intervening motion except 
one that the House adjourn or that the Com-
mittee of the Whole rise, as the case may be. 
‘‘(D) AMENDMENTS.—The disposition of 
the question of consideration under this para-
graph with respect to a bill or resolution shall 
be considered also to determine the question of 
consideration under this paragraph with respect 
to an amendment made in order as original 
text. 
‘‘(3) SENATE.—Paragraph (1) may be waived 
or suspended in the Senate only by three-fifths of 
the Members, duly chosen and sworn. An affirmative 
vote of three-fifths 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 
raised under paragraph (1). 
‘‘(f) SUSPENSION DURING LOW GROWTH.— 
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‘‘SEC. 602. CONSIDERATION OF ALTERNATIVE PROPOSALS. 
‘‘(a) INTRODUCTION OF ALTERNATIVE PROPOSAL.— 
If, in any calendar year in which the debt stabilization 
process has been triggered by a report by the Director of 
the Congressional Budget Office under section 601(b), 
Congress has not agreed to a congressional resolution on 
the budget by June 15 that meets the requirements of sec-
tion 601, then any Member of the House of Representa-
tives or the Senate may introduce a bill to provide for 
changes in law sufficient to achieve the applicable budget 
target set forth in section 601(a). Such bill shall have the 
following long title: ‘To stabilize the debt pursuant to sec-
tion 602 of the Congressional Budget Act of 1974.’. 
‘‘(b) CBO ESTIMATE.—Upon the introduction of a 
bill referred to in subsection (a), the Director of the Con-
gressional Budget Office shall prepare and submit to the 
appropriate committees of the House of Representatives 
and the Senate, as applicable, a cost estimate of that bill 
for the time period described in section 601(b). 
‘‘(c) EXPEDITED CONSIDERATION.— 
‘‘(1) REQUIRED COSPONSORSHIP.—Any bill in-
troduced pursuant to subsection (a)— 
‘‘(A) in the House of Representatives shall 
receive expedited consideration pursuant to 
paragraph (2) if such bill has not less than 50 
cosponsors; or 
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‘‘(B) in the Senate shall receive expedited 
consideration pursuant to paragraph (2) if such 
bill has not less than 10 cosponsors. 
‘‘(2) CONSIDERATION IN THE HOUSE OF REP-
RESENTATIVES.— 
‘‘(A) REFERRAL
AND
REPORTING.—Any 
committee of the House of Representatives to 
which a bill produced pursuant to paragraph 
(1) is referred shall report it to the House with-
out amendment not later than the third legisla-
tive day after the date of its introduction. If a 
committee fails to report the bill within that pe-
riod or the House has adopted a concurrent res-
olution providing for adjournment sine die at 
the end of a Congress, such committee shall be 
automatically discharged from further consider-
ation of the bill and it shall be placed on the 
appropriate calendar. 
‘‘(B) PROCEEDING TO CONSIDERATION.— 
Not later than 3 legislative days after the bill 
referred to in paragraph (1) is reported or a 
committee has been discharged from further 
consideration thereof, it shall be in order to 
move to proceed to consider the bill in the 
House. Such a motion shall be in order only at 
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a time designated by the Speaker in the legisla-
tive schedule within two legislative days after 
the day on which the proponent announces an 
intention to the House to offer the motion pro-
vided that such notice may not be given until 
such bill is reported or a committee has been 
discharged from further consideration thereof. 
Such a motion shall not be in order after the 
House has disposed of a motion to proceed with 
respect to that special message. The previous 
question shall be considered as ordered on the 
motion to its adoption without intervening mo-
tion. A motion to reconsider the vote by which 
the motion is disposed of shall not be in order. 
‘‘(C) CONSIDERATION.—If the motion to 
proceed is agreed to, the House shall imme-
diately proceed to consider the bill referred to 
in paragraph (1) in the House without inter-
vening motion. Such bill shall be considered as 
read. All points of order against such bill and 
against its consideration are waived. The pre-
vious question shall be considered as ordered on 
such bill to its passage without intervening mo-
tion except 2 hours of debate equally divided 
and controlled by the proponent and an oppo-
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nent and one motion to limit debate on the bill. 
A motion to reconsider the vote on passage of 
such bill shall not be in order. 
‘‘(3) CONSIDERATION IN THE SENATE.— 
‘‘(A) COMMITTEE
ACTION.—The appro-
priate committees of the Senate shall report 
without amendment the bill referred to in para-
graph (1) not later than the third session day 
after introduction. If a committee fails to report 
such bill within that period or the Senate has 
adopted a concurrent resolution providing for 
adjournment sine die at the end of a Congress, 
the Committee shall be automatically dis-
charged from further consideration of such bill 
and it shall be placed on the appropriate cal-
endar. 
‘‘(B) MOTION
TO
PROCEED.—Not later 
than 3 session days after the bill referred to in 
paragraph (1) is reported in the Senate or the 
committee has been discharged thereof, it shall 
be in order for any Senator to move to proceed 
to consider such bill in the Senate. The motion 
shall be decided without debate and the motion 
to reconsider shall be deemed to have been laid 
on the table. Such a motion shall not be in 
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order after the Senate has disposed of a prior 
motion to proceed with respect to such bill. 
‘‘(C) CONSIDERATION.—If a motion to 
proceed to the consideration of the bill referred 
to in paragraph (1) is agreed to, the Senate 
shall immediately proceed to consideration of 
such bill without intervening motion, order, or 
other business, and such bill shall remain the 
unfinished business of the Senate until disposed 
of. Consideration on the bill in the Senate 
under this subsection, and all debatable motions 
and appeals in connection therewith, shall not 
exceed 10 hours equally divided in the usual 
form. All points of order against such bill or its 
consideration are waived. Consideration in the 
Senate on any debatable motion or appeal in 
connection with such bill shall be limited to not 
more than 1 hour. A motion to postpone, or a 
motion to proceed to the consideration of other 
business, or a motion to recommit such bill is 
not in order. A motion to reconsider the vote by 
which such bill is agreed to or disagreed to is 
not in order. 
‘‘(4) AMENDMENTS PROHIBITED.—No amend-
ment to, or motion to strike a provision from, a bill 
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referred to in paragraph (1) considered under this 
section shall be in order in either the Senate or the 
House of Representatives. 
‘‘(5) COORDINATION WITH ACTION BY OTHER 
HOUSE.—If, before passing the bill referred to in 
paragraph (1), one House receives from the other a 
bill— 
‘‘(A) the bill of the other House shall not 
be referred to a committee; and 
‘‘(B) the procedure in the receiving House 
shall be the same as if no such bill had been 
received from the other House until the vote on 
passage, when the bill received from the other 
House shall supplant such bill of the receiving 
House. 
‘‘SEC. 603. DEFINITION. 
‘‘As used in this title, the term ‘stabilization legisla-
tion’ means any legislation designated in the text as sta-
bilization legislation which the chairman of the Committee 
on the Budget of the House of Representatives or the Sen-
ate certifies would reduce the deficit or debt held by the 
public below the levels required by this title.’’. 
(b) CONFORMING AMENDMENT.—The table of con-
tents of the Congressional Budget Act of 1974 is amended 
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by inserting after the items relating to title V the fol-
lowing: 
‘‘TITLE VI—DEBT STABILIZATION 
‘‘Sec. 601. Debt stabilization process. 
‘‘Sec. 602. Consideration of alternative proposals. 
‘‘Sec. 603. Definition.’’. 
Æ 
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