Purpose

Section 2 of the Statutory Pay-As-You-Go Act of 2010 is amended to read as follows: 2. Purpose The purpose of this title is— (1) to establish and enforce a statutory requirement that legislation affecting direct spending or revenues contribute to deficit reduction; (2) to ensure that new direct spending and revenue reductions are more than fully offset by reductions in direct spending, increases in revenues, or a combination thereof; (3) to reduce the accumulation of Federal debt by requiring legislation affecting direct spending or revenues to produce net deficit reduction; and (4) to promote long-term fiscal sustainability through transparent and enforceable budgetary controls..