Budget Enforcement Simplification Trust Act

TABLE OF CONTENTS:

Title I: Budget Process Reform

Title II: Item Veto and Enhanced Rescission Authority

Chapter A: Line-Item Veto Act

Chapter B: Enhanced Rescission Authority

Title III: General Provisions

Budget Enforcement Simplification Trust Act - Title I: Budget Process Reform - Amends the Congressional Budget Act of 1974 (CBA) to revise definitions.

(Sec. 102) Amends the CBA to revise the timetable with respect to the congressional budget process from a single fiscal year basis to a biennium.

(Sec. 103) Amends the Congressional Budget and Impoundment Control Act of 1974 (CBICA) to require biennial adoption (on each odd-numbered year) of a joint budget resolution, with specified contents.

(Sec. 104) Revises the CBA with respect to committee allocations. Provides procedures for contingency reserve funds for natural disasters.

(Sec. 105) Provides for a backstop budget resolution. Makes binding for upcoming biennial budget years the amounts and caps established in the most recently enacted joint budget resolution as if they had been enacted for such upcoming years, if a joint resolution on the budget has not yet been enacted by May 15 of any odd numbered year.

(Sec. 106) Provides for revisions to joint budget resolutions and spending caps.

(Sec. 107) Revises budget enforcement provisions with respect to: (1) enforced spending caps; (2) reporting excess spending; (3) Presidential orders to eliminate excess spending; (4) enforcing discretionary spending limits; (5) enforcing direct spending limits; and (6) certain exempt programs and activities.

Establishes special rules for sequestration orders relating to: (1) child support enforcement programs; (2) the Commodity Credit Corporation; (3) regular and extended unemployment compensation; (4) the Federal Employees Health Benefit Fund; (5) the Federal Housing Finance Board; (6) pay for Federal personnel; (7) Medicare; (8) the Postal Service Fund; (9) Department of Energy power marketing administration funds or the Tennessee Valley Authority fund; and (10) businesslike transactions.

Sets forth provisions with respect to the current law baseline. Requires the Directors of the Congressional Budget Office and of the Office of Management and Budget to report to the President and the Congress budget baselines for the budget year and at least the subsequent nine fiscal years.

Sets forth pay-as-you-go provisions, including: (1) deficit neutral revenue legislation; (2) downward adjustment of spending caps; (3) expiration of tax cuts; and (4) a supermajority required for a waiver.

Title II: Item Veto and Enhanced Rescission Authority - Chapter A - Line Item Veto Act - Grants the President legislative line item veto rescission authority.

(Sec. 202) Authorizes the President to rescind all or part of any discretionary budget authority or veto any targeted tax benefit if the President determines that such rescission: (1) would help reduce the Federal budget deficit; (2) will not impair any essential Government functions; and (3) will not harm the national interest.

Requires the President to notify the Congress of such a rescission or veto by special message after enactment of an appropriations Act providing such budget authority or a revenue or reconciliation Act containing a targeted tax benefit. Allows the President in each special message to propose to reduce the appropriate discretionary spending limit by an amount that does not exceed the total amount of discretionary budget authority rescinded by that message. Requires the President to submit a separate special message for each appropriations Act and for each revenue or reconciliation Act.

Authorizes the President to rescind, under the terms of this Act, all or part of any unobligated discretionary budget authority provided by any FY 1996 appropriation Act, if the President notifies the Congress of such rescission by a special message not more than ten calendar days (excluding Sundays) after the date of enactment of this Act.

(Sec. 203) Makes such a rescission effective unless the Congress enacts a rescission-receipts disapproval bill.

(Sec. 205) Specifies: (1) information to be included in the President's message; and (2) procedures to govern consideration of rescission-receipts disapproval legislation in the Senate and the House of Representatives.

(Sec. 206) Requires the Comptroller General to report annually to the Congress: (1) a list of each proposed presidential rescission of discretionary budget authority and veto of a targeted tax benefit submitted through special messages for the fiscal year ending during the preceding calendar year, together with their dollar value, and an indication of whether each rescission of discretionary budget authority or veto of a targeted tax benefit was accepted or rejected by Congress; (2) the total number of proposed presidential rescissions of discretionary budget authority and vetoes of a targeted tax benefit submitted through special messages for the fiscal year ending during the preceding calendar year, together with their total dollar value; (3) the total number of presidential rescissions of discretionary budget authority or vetoes of a targeted tax benefit submitted through special messages for the fiscal year ending during the preceding calendar year and approved by Congress, together with their total dollar value; (4) a list of rescissions of discretionary budget authority initiated by Congress for the fiscal year ending during the preceding calendar year, together with their dollar value, and an indication of whether each such rescission was accepted or rejected by Congress; (5) the total number of rescissions of discretionary budget authority initiated and accepted by Congress for the fiscal year ending during the preceding calendar year, together with their total dollar value; and (6) a summary of the information provided by paragraphs (2), (3), and (5) for each of the ten fiscal years ending before the fiscal year during this calendar year.

(Sec. 207) Provides a process of expedited judicial review of provisions of this Act.

Chapter B: Enhanced Rescissions - Amends CBICA to provide for expedited consideration of certain proposed rescissions and targeted tax benefits. Makes conforming amendments to CBA.

Title III: General Provisions - Sets forth transition rules, effective dates, and conforming amendments.

(Sec. 304) Amends Federal law relating to money and finance to add a definition of budget biennium and to revise provisions relating to: (1) budget contents and submission to the Congress; (2) estimated expenditures of legislative and judicial branches; (3) recommendations to meet estimated deficiencies; (4) a statement with respect to certain changes; (5) capital investment analysis; (6) supplemental budget estimates and changes; (7) year-ahead requests for authorizing legislation; and (8) budget information on consulting services.

(Sec. 305) Provides that: (1) in the event that any of the provisions of chapter A (Line Item Veto Act) of title II are invalidated by judicial action, all provisions of such chapter are invalidated; and (2) immediately upon a final determination invalidating chapter A of title II, chapter B (Enhanced Rescissions) of title II shall become effective.