Controlling America's Perilous Spending Act
This bill establishes annual discretionary spending limits for FY2023-FY2032.
The bill also establishes a budget point of order that may be raised against legislation that prevents a sequestration order from taking effect, such as legislation that suspends or waives an order. (Sequestration is a process of automatic, usually across-the-board spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals.)
To amend the Balanced Budget and Emergency Deficit Control Act of 1985 
 to extend the discretionary spending limits through fiscal year 2032, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Controlling America's Perilous 
Spending Act''.

SEC. 2. EXTENSION OF DISCRETIONARY SPENDING LIMITS.

    (a) Sense of Congress.--It is the sense of Congress that--
            (1) the current fiscal trajectory is unsustainable, with 
        the Federal debt now exceeding $30 trillion;
            (2) the Congressional Budget Office projects that spending, 
        as a share of Gross Domestic Product, will rise from 19.6 
        percent in fiscal year 2022, to 24.3 percent by the end of the 
        decade, and the Federal debt is projected to increase by 
        approximately $16 trillion over the next 10 years;
            (3) the absence of fiscal guardrails, such as statutory 
        discretionary spending caps, means that there is no meaningful 
        restraint on Congress' ability to appropriate excessive 
        spending;
            (4) spending caps are a necessary tool to help bring 
        spending under control and were in place from 1991 through 2002 
        and again from 2012 through 2021;
            (5) this legislation is a framework, based on May 2022 
        Congressional Budget Office projections, that would help rein 
        in discretionary spending; and
            (6) the discretionary caps set forth below are designed to 
        slow discretionary spending growth rates and may need to be 
        amended to incorporate subsequent baseline changes prior to 
        becoming law.
    (b) Extension.--Section 251(c) of the Balanced Budget and Emergency 
Deficit Control Act of 1985 (2 U.S.C. 901(c)) is amended--
            (1) in paragraph (7)(B), by striking ``and'' at the end; 
        and
            (2) by inserting after paragraph (8) the following:
            ``(9) for fiscal year 2023, $1,587,164,000,000 in new 
        budget authority;
            ``(10) for fiscal year 2024, $1,618,907,280,000 in new 
        budget authority;
            ``(11) for fiscal year 2025, $1,651,285,425,600 in new 
        budget authority;
            ``(12) for fiscal year 2026, $1,684,311,134,112 in new 
        budget authority;
            ``(13) for fiscal year 2027, $1,717,997,356,794 in new 
        budget authority;
            ``(14) for fiscal year 2028, $1,752,357,303,930 in new 
        budget authority;
            ``(15) for fiscal year 2029, $1,787,404,450,009 in new 
        budget authority;
            ``(16) for fiscal year 2030, $1,823,152,539,009 in new 
        budget authority;
            ``(17) for fiscal year 2031, $1,859,615,589,789 in new 
        budget authority; and
            ``(18) for fiscal year 2032, $1,896,807,901,585 in new 
        budget authority;''.
    (c) Point of Order.--Section 254 of the Balanced Budget and 
Emergency Deficit Control Act of 1985 (2 U.S.C. 904) is amended by 
adding at the end the following:
    ``(k) Point of Order.--
            ``(1) In general.--It shall not be in order in the House of 
        Representatives or the Senate to consider any bill or joint 
        resolution, or amendment thereto or conference report thereon, 
        that suspends, waives, or otherwise prevents a sequestration 
        order from taking effect under this section.
            ``(2) Waiver.--Paragraph (1) may be waived or suspended in 
        the Senate only by an affirmative vote of three-fifths of the 
        Members, duly chosen and sworn.''.
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Controlling America’s Perilous Spending Act
To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to extend the discretionary spending limits through fiscal year 2032, and for other purposes.
Controlling America’s Perilous Spending Act
Rep. Arrington, Jodey C.