Amending the Rules of the House of Representatives to require the House to replace the Speaker on the first day of the second session of a Congress if the most recent fiscal year ended with a significant Federal budget deficit, and for other purposes.
Amends Rule I (The Speaker) of the Rules of the House of Representatives to declare that if, on the first day of the second session of a Congress, the most recent fiscal year ended with a federal budget deficit of 5% or more of the gross domestic product, then the position of Speaker of the House shall be declared vacant and the individual who served as Speaker as of the last day of the first session of the Congress is ineligible to serve as Speaker in the second session of that Congress.
Makes this provision inapplicable if the House determines that the budget deficit for a fiscal year was attributable to a national emergency or a recession.
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