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2 U.S.C. § 907 — The baseline
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** For any budget year, the baseline refers to a projection of current-year levels of new budget authority, outlays, revenues, and the surplus or deficit into the budget year and the outyears based on laws enacted through the applicable date.
**(b) Direct spending and receipts** For the budget year and each outyear, the baseline shall be calculated using the following assumptions:
(1) **In general** — Laws providing or creating direct spending and receipts are assumed to operate in the manner specified in those laws for each such year and funding for entitlement authority is assumed to be adequate to make all payments required by those laws.
(2) **Exceptions**
(A)
(i) No program established by a law enacted on or before August 5, 1997, with estimated current year outlays greater than $50,000,000 shall be assumed to expire in the budget year or the outyears. The scoring of new programs with estimated outlays greater than $50,000,000 a year shall be based on scoring by the Committees on Budget or OMB, as applicable. OMB, CBO, and the Budget Committees shall consult on the scoring of such programs where there are differences between CBO and OMB.
(ii) On the expiration of the suspension of a provision of law that is suspended under [section 7301 of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7301&num=0&edition=prelim) and that authorizes a program with estimated fiscal year outlays that are greater than $50,000,000, for purposes of clause (i), the program shall be assumed to continue to operate in the same manner as the program operated immediately before the expiration of the suspension.
(B) The increase for veterans’ compensation for a fiscal year is assumed to be the same as that required by law f
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Stable record: federal_law:legal_authorities:record_usc_f95c78b2a9a21132903fcf75
Source file: Laws/federal/codes/united-states-code/title-2/section-907-the-baseline--1970dfa65e.md
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Source location: Title 2, Chapter 20, § 907; chapter-020-emergency-powers-to-eliminate-budget-deficits.md
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**(a) In general** For any budget year, the baseline refers to a projection of current-year levels of new budget authority, outlays, revenues, and the surplus or deficit into the budget year and the outyears based on laws enacted through the applicable date.
**(b) Direct spending and receipts** For the budget year and each outyear, the baseline shall be calculated using the following assumptions:
(1) **In general** — Laws providing or creating direct spending and receipts are assumed to operate in the manner specified in those laws for each such year and funding for entitlement authority is assumed to be adequate to make all payments required by those laws.
(2) **Exceptions**
(A)
(i) No program established by a law enacted on or before August 5, 1997, with estimated current year outlays greater than $50,000,000 shall be assumed to expire in the budget year or the outyears. The scoring of new programs with estimated outlays greater than $50,000,000 a year shall be based on scoring by the Committees on Budget or OMB, as applicable. OMB, CBO, and the Budget Committees shall consult on the scoring of such programs where there are differences between CBO and OMB.
(ii) On the expiration of the suspension of a provision of law that is suspended under [section 7301 of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7301&num=0&edition=prelim) and that authorizes a program with estimated fiscal year outlays that are greater than $50,000,000, for purposes of clause (i), the program shall be assumed to continue to operate in the same manner as the program operated immediately before the expiration of the suspension.
(B) The increase for veterans’ compensation for a fiscal year is assumed to be the same as that required by law for veterans’ pensions unless otherwise provided by law enacted in that session.
(C) Excise taxes dedicated to a trust fund, if expiring, are assumed to be extended at current rates.
(D) If any law expires before the budget year or any outyear, then any program with estimated current year outlays greater than $50,000,000 that operates under that law shall be assumed to continue to operate under that law as in effect immediately before its expiration.
(3) **Hospital Insurance Trust Fund** — Notwithstanding any other provision of law, the receipts and disbursements of the Hospital Insurance Trust Fund shall be included in all calculations required by this Act.
**(c) Discretionary appropriations** For the budget year and each outyear, the baseline shall be calculated using the following assumptions regarding all amounts other than those covered by subsection (b):
(1) **Inflation of current-year appropriations** — Budgetary resources other than unobligated balances shall be at the level provided for the budget year in full-year appropriation Acts. If for any account a full-year appropriation has not yet been enacted, budgetary resources other than unobligated balances shall be at the level available in the current year, adjusted sequentially and cumulatively for expiring housing contracts as specified in paragraph (2), for social insurance administrative expenses as specified in paragraph (3), to offset pay absorption and for pay annualization as specified in paragraph (4), for inflation as specified in paragraph (5), and to account for changes required by law in the level of agency payments for personnel benefits other than pay.
(2) **Expiring housing contracts** — New budget authority to renew expiring multiyear subsidized housing contracts shall be adjusted to reflect the difference in the number of such contracts that are scheduled to expire in that fiscal year and the number expiring in the current year, with the per-contract renewal cost equal to the average current-year cost of renewal contracts.
(3) **Social insurance administrative expenses** — Budgetary resources for the administrative expenses of the following trust funds shall be adjusted by the percentage change in the beneficiary population from the current year to that fiscal year: the Federal Hospital Insurance Trust Fund, the Supplementary Medical Insurance Trust Fund, the Unemployment Trust Fund, and the railroad retirement account.
(4) **Pay annualization; offset to pay absorption** — Current-year new budget authority for Federal employees shall be adjusted to reflect the full 12-month costs (without absorption) of any pay adjustment that occurred in that fiscal year.
(5) **Inflators** — The inflator used in paragraph (1) to adjust budgetary resources relating to personnel shall be the percent by which the average of the Bureau of Labor Statistics Employment Cost Index (wages and salaries, private industry workers) for that fiscal year differs from such index for the current year. The inflator used in paragraph (1) to adjust all other budgetary resources shall be the percent by which the average of the estimated gross domestic product chain-type price index for that fiscal year differs from the average of such estimated index for the current year.
(6) **Current-year appropriations** — If, for any account, a continuing appropriation is in effect for less than the entire current year, then the current-year amount shall be assumed to equal the amount that would be available if that continuing appropriation covered the entire fiscal year. If law permits the transfer of budget authority among budget accounts in the current year, the current-year level for an account shall reflect transfers accomplished by the submission of, or assumed for the current year in, the President’s original budget for the budget year.
**(d) Up-to-date concepts** In deriving the baseline for any budget year or outyear, current-year amounts shall be calculated using the concepts and definitions that are required for that budget year.
**(e) Asset sales** Amounts realized from the sale of an asset shall not be included in estimates under section 901, 902, or 903 of this title if that sale would result in a financial cost to the Federal Government as determined pursuant to scorekeeping guidelines.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Enforcement in House of Representatives** It shall not be in order in the House of Representatives to consider a rule or order that waives the application of [section 658d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section658d&num=0&edition=prelim).
**(b) Disposition of points of order**
(1) **Application to House of Representatives** — This subsection shall apply only to the House of Representatives.
(2) **Threshold burden** — In order to be cognizable by the Chair, a point of order under [section 658d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section658d&num=0&edition=prelim) or subsection (a) of this section must specify the precise language on which it is premised.
(3) **Question of consideration** — As disposition of points of order under [section 658d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section658d&num=0&edition=prelim) or subsection (a) of this section, the Chair shall put the question of consideration with respect to the proposition that is the subject of the points of order.
(4) **Debate and intervening motions** — A question of consideration under this section shall be debatable for 10 minutes by each Member initiating a point of order and for 10 minutes by an opponent on each point of order, but shall otherwise be decided without intervening motion except one that the House adjourn or that the Committee of the Whole rise, as the case may be.
(5) **Effect on amendment in order as original text** — The disposition of the question of consideration under this subsection with respect to a bill or joint resolution shall be considered also to determine the question of consideration under this subsection with respect to an amendm
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 661
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Omitted**
**(b) General statement of budget enforcement through sequestration** This subchapter provides for budget enforcement as called for in House Concurrent Resolution 84 (105th Congress, 1st session).
**(c) Definitions** As used in this subchapter:
(1) The terms “budget authority”, “new budget authority”, “outlays”, and “deficit” have the meanings given to such terms in section 3 of the Congressional Budget and Impoundment Control Act of 1974 [[2 U.S.C. 622](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section622&num=0&edition=prelim)] and “discretionary spending limit” shall mean the amounts specified in [section 901 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section901&num=0&edition=prelim).
(2) The terms “sequester” and “sequestration” refer to or mean the cancellation of budgetary resources provided by discretionary appropriations or direct spending law.
(3) The term “breach” means, for any fiscal year, the amount (if any) by which new budget authority or outlays for that year (within a category of discretionary appropriations) is above that category’s discretionary spending limit for new budget authority or outlays for that year, as the case may be.
(4)
(A) The term “nonsecurity category” means all discretionary appropriations not included in the security category defined in subparagraph (B).
(B) The term “security category” includes discretionary appropriations associated with agency budgets for the Department of Defense, the Department of Homeland Security, the Department of Veterans Affairs, the National Nuclear Security Administration, the intelligence community management account (95–0401–0–1–054), and all budget accounts in budget function 150 (international affairs).
(C
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 900
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** This subchapter shall not apply to the credit or insurance activities of the Federal Deposit Insurance Corporation, National Credit Union Administration, Resolution Trust Corporation, Pension Benefit Guaranty Corporation, National Flood Insurance, National Insurance Development Fund, Crop Insurance, or Tennessee Valley Authority.
**(b) Study** The Director and the Director of the Congressional Budget Office shall each study whether the accounting for Federal deposit insurance programs should be on a cash basis on the same basis as loan guarantees, or on a different basis. Each Director shall report findings and recommendations to the President and the Congress on or before May 31, 1991.
**(c) Access to data** For the purposes of subsection (b), the Office of Management and Budget and the Congressional Budget Office shall have access to all agency data that may facilitate these studies.
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 621
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund and the taxes imposed under sections 1401 and 3101 of the Internal Revenue Code of 1986 shall not be included in the totals of the budget of the United States Government as submitted by the President or of the congressional budget and shall be exempt from any general budget limitation imposed by statute on expenditures and net lending (budget outlays) of the United States Government.
**(b)** No provision of law enacted after December 12, 1985 (other than a provision of an appropriation Act that appropriated funds authorized under this chapter as in effect on December 12, 1985) may provide for payments from the general fund of the Treasury to any Trust Fund specified in subsection (a) or for payments from any such Trust Fund to the general fund of the Treasury.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 911
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Enforcement**
(1) **Sequestration** — Within 15 calendar days after Congress adjourns to end a session there shall be a sequestration to eliminate a budget-year breach, if any, within any category.
(2) **Eliminating a breach** — Each non-exempt account within a category shall be reduced by a dollar amount calculated by multiplying the enacted level of sequestrable budgetary resources in that account at that time by the uniform percentage necessary to eliminate a breach within that category.
(3) **Military personnel** — If the President uses the authority to exempt any personnel account from sequestration under [section 905(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section905/f&num=0&edition=prelim), each account within subfunctional category 051 (other than those military personnel accounts for which the authority provided under [section 905(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section905/f&num=0&edition=prelim) has been exercised) shall be further reduced by a dollar amount calculated by multiplying the enacted level of non-exempt budgetary resources in that account at that time by the uniform percentage necessary to offset the total dollar amount by which outlays are not reduced in military personnel accounts by reason of the use of such authority.
(4) **Part-year appropriations** — If, on the date specified in paragraph (1), there is in effect an Act making or continuing appropriations for part of a fiscal year for any budget account, then the dollar sequestration calculated for that account under paragraphs (2) and (3) shall be subtracted from—
(A) the annualized amount otherwise available by law in that account under that or a subsequent part-year appropriation
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 901
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Agricultural Adjustment Act of 1938**
(1) **Suspensions** — The following provisions of the Agricultural Adjustment Act of 1938 [[7 U.S.C. 1281](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1281&num=0&edition=prelim) et seq.] shall not be applicable to the 1996 through 2001 crops of loan commodities, peanuts, and sugar and shall not be applicable to milk during the period beginning on April 4, 1996, and ending on December 31, 2002:
(A) Parts II through V of subtitle B of title III ([7 U.S.C. 1326–135](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1326–135&num=0&edition=prelim)1) [[7 U.S.C. 1321](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1321&num=0&edition=prelim) et seq., 1331 et seq., 1341 et seq., 1351].
(B) Subsections (a) through (j) of section 358 ([7 U.S.C. 1358](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1358&num=0&edition=prelim)).11 See References in Text note below.
(C) Subsections (a) through (h) of section 358a ([7 U.S.C. 1358a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1358a&num=0&edition=prelim)).1
(D) Subsections (a), (b), (d), and (e) of section 358d ([7 U.S.C. 1359](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1359&num=0&edition=prelim)).1
(E) Part VII of subtitle B of title III ([7 U.S.C. 1359aa–135](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1359aa–135&num=0&edition=prelim)9jj).
(F) In the case of peanuts, part I of subtitle C of title III ([7 U.S.C. 1361–136](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1361–136&num=0&edition=prelim)8).
(G) In the case of upland cotton, section
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Method of registration** Any security may be registered with the Commission under the terms and conditions hereinafter provided, by filing a registration statement in triplicate, at least one of which shall be signed by each issuer, its principal executive officer or officers, its principal financial officer, its comptroller or principal accounting officer, and the majority of its board of directors or persons performing similar functions (or, if there is no board of directors or persons performing similar functions, by the majority of the persons or board having the power of management of the issuer), and in case the issuer is a foreign or Territorial person by its duly authorized representative in the United States; except that when such registration statement relates to a security issued by a foreign government, or political subdivision thereof, it need be signed only by the underwriter of such security. Signatures of all such persons when written on the said registration statements shall be presumed to have been so written by authority of the person whose signature is so affixed and the burden of proof, in the event such authority shall be denied, shall be upon the party denying the same. The affixing of any signature without the authority of the purported signer shall constitute a violation of this subchapter. A registration statement shall be deemed effective only as to the securities specified therein as proposed to be offered.
**(b) Registration fee**
(1) **Fee payment required** — At the time of filing a registration statement, the applicant shall pay to the Commission a fee at a rate that shall be equal to $92 11 See Adjustment of Registration Fee Rate notes below. per $1,000,000 of the maximum aggregate price at which such securities are proposed to b
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 77f
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Recovery of costs of annual appropriation** The Commission shall, in accordance with this section, collect transaction fees and assessments that are designed to recover the costs to the Government of the annual appropriation to the Commission by Congress.
**(b) Exchange-traded securities** Subject to subsection (j), each national securities exchange shall pay to the Commission a fee at a rate equal to $15 11 See Adjustment of Transaction Fee Rate notes below. per $1,000,000 of the aggregate dollar amount of sales of securities (other than bonds, debentures, other evidences of indebtedness, security futures products, and options on securities indexes (excluding a narrow-based security index)) transacted on such national securities exchange.
**(c) Off-exchange trades of exchange registered and last-sale-reported securities** Subject to subsection (j), each national securities association shall pay to the Commission a fee at a rate equal to $15 1 per $1,000,000 of the aggregate dollar amount of sales transacted by or through any member of such association otherwise than on a national securities exchange of securities (other than bonds, debentures, other evidences of indebtedness, security futures products, and options on securities indexes (excluding a narrow-based security index)) registered on a national securities exchange or subject to prompt last sale reporting pursuant to the rules of the Commission or a registered national securities association.
**(d) Assessments on security futures transactions** Each national securities exchange and national securities association shall pay to the Commission an assessment equal to $0.009 for each round turn transaction (treated as including one purchase and one sale of a contract of sale for future delivery) on a securit
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78ee
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Legislation providing new budget authority or providing increase or decrease in revenues or tax expenditures**
(1) Whenever a committee of either House reports to its House a bill or joint resolution, or committee amendment thereto, providing new budget authority (other than continuing appropriations) or providing an increase or decrease in revenues or tax expenditures for a fiscal year (or fiscal years), the report accompanying that bill or joint resolution shall contain a statement, or the committee shall make available such a statement in the case of an approved committee amendment which is not reported to its House, prepared after consultation with the Director of the Congressional Budget Office—
(A) comparing the levels in such measure to the appropriate allocations in the reports submitted under [section 633(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section633/b&num=0&edition=prelim) for the most recently agreed to concurrent resolution on the budget for such fiscal year (or fiscal years);
(B) containing a projection by the Congressional Budget Office of how such measure will affect the levels of such budget authority, budget outlays, revenues, or tax expenditures under existing law for such fiscal year (or fiscal years) and each of the four ensuing fiscal years, if timely submitted before such report is filed; and
(C) containing an estimate by the Congressional Budget Office of the level of new budget authority for assistance to State and local governments provided by such measure, if timely submitted before such report is filed.
(2) Whenever a conference report is filed in either House and such conference report or any amendment reported in disagreement or any amendment contained in the joint statement
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 642
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Social security benefits and tier I railroad retirement benefits** Benefits payable under the old-age, survivors, and disability insurance program established under title II of the Social Security Act ([42 U.S.C. 401](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section401&num=0&edition=prelim) et seq.), and benefits payable under sections 231b and 231c 11 See References in Text note below. of title 45, shall be exempt from reduction under any order issued under this subchapter.
**(b) Veterans programs** The following programs shall be exempt from reduction under any order issued under this subchapter: All programs administered by the Department of Veterans Affairs. Special benefits for certain World War II veterans (28–0401–0–1–701).
**(c) Net interest** No reduction of payments for net interest (all of major functional category 900) shall be made under any order issued under this subchapter.
**(d) Refundable income tax credits and certain elective payments**
(1) **Refundable income tax credits** — Payments to individuals made pursuant to provisions of title 26 establishing refundable tax credits shall be exempt from reduction under any order issued under this subchapter.
(2) **Certain elective payments** — Payments made to taxpayers pursuant to elections under subsection (d) of [section 48D of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section48D&num=0&edition=prelim), or amounts treated as payments which are made by taxpayers under paragraph (1) of such subsection, shall be exempt from reduction under any order issued under this subchapter.
**(e) Non-defense unobligated balances** Unobligated balances of budget authority carried over from prior fiscal years, except balances in the defense categor
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 905
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