About S16

A bill to provide for a sequester replacement.

Policy Area: Economics and Public Finance

Sponsor: Sen. Inhofe, James M. [R-OK] (R-OK)

Latest Action (2013-02-28): Motion to proceed to consideration of measure withdrawn in Senate. (consideration: CR S991)

Summary

Requires the President, by March 15, 2013, to submit to Congress a qualifying sequester replacement plan proposing to cancel permanently $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 March 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

Subjects: Appropriations, Budget deficits and national debt, Budget process, Congressional oversight, Defense spending, Department of Defense, Executive agency funding and structure, House of Representatives

Who Voted How on S16

Filter by Yea, Nay, or Absent

Other Contested Bills