A bill to provide for a sequester replacement.

Summary

Requires the President, by May 15, 2013, to submit to Congress a qualifying sequester replacement plan proposing to cancel permanently at least $85.333 billion of budgetary resources available for FY2013 from any discretionary appropriations or direct spending account. Requires further that: up to $42.666.500 billion of budgetary resources be cancelled from defense spending (budget function 050); any cancellation of such budgetary resources comply with the policies under and consistent with amounts authorized in the National Defense Authorization Act for Fiscal Year 2013 (NDAA FY2013); the cancellation is not implemented through changes to programs or activities contained in the Internal Revenue Code, or increases governmental receipts, offsetting collections, or offsetting receipts; any cancellation of budgetary resources in a non-defense spending account may not be offset against an increase in another such account; and the proposed cancellation reduces outlays by at least $82.500 billion by the end of FY2018. Sets forth requirements for expedited consideration of a joint resolution of disapproval in both chambers of the qualifying sequester replacement plan. Requires the President, if the joint resolution of disapproval is not enacted within seven calendar days after May 15, 2013, to cancel: (1) any sequestration order issued under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) for enforcement of a specified budget goal, and (2) the budgetary resources submitted in the qualifying sequester replacement plan.

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Timeline

1. 24 April 2013

   Introduced

   Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

   Source: Calendars

2. 24 April 2013

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 25 April 2013

   Calendars

   Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 65.

   Source: Calendars

Votes

No vote records are attached yet.

Versions

• Placed on Calendar Senate · 25 April 2013 · Official file

Documents

3 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 25 April 2013

  ViewDownloadOpen at official source

• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 25 April 2013

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 24 April 2013

  Open at official source

Sponsors

• Rep. Inhofe, James M. [R-OK-1] · R · Sponsor
• Sen. Toomey, Patrick [R-PA] · R · Sponsor

Related records

• related to → A bill to provide for a sequester replacement.