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Robert P.
Republican OH

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  • Budget Act Section 114(C)

    by Senator Rob Portman

    Posted on 2014-01-07

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    Read More about Budget Act Section 114(C)

    PORTMAN. I would like to thank the chairman of the Budget Committee for the opportunity to engage in this colloquy with her. As I understand it, the intent of the reserve fund under section 114(c) is to be available to adjust certain budgetary levels for deficit-neutral legislation that would replace sequestration. Do I have that correct? Mrs. MURRAY. Yes, the bipartisan budget agreement reached between the House and Senate replaces some of the sequester cuts that otherwise would occur in 2014 and 2015. By avoiding sequestration and reaching agreement on bipartisan funding levels for 2014 and 2015, this agreement will provide relief to our families, servicemembers, and the economy. Sequestration, however, continues to remain in place, unmodified, for fiscal years 2016 through 2021. Assuming legislation met the necessary requirements specified in section 114(c), this reserve fund would be available to further address the harmful effects of sequestration.

    Mr. PORTMAN. I thank the chairman for her response. There is a concern that the reserve fund in section 114(c) could deprive the minority of an opportunity to require 60 votes for legislation that would modify the statutory limits on discretionary spending and pay for some or all of that cost with new revenue. Is that concern accurate? Mrs. MURRAY. I thank the Senator for his question. No, that concern is not accurate. While a useful tool to help the Senate carry out its priorities under the budget process, a reserve fund is limited in what it allows me to do, in my capacity as chairman of the Budget Committee. In general, for legislation that meets the required criteria, reserve funds allow me to revise the levels adopted in a budget resolution and enforced in the Senate, such as committee allocations and the budgetary aggregates.

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