Rand Paul: “I ask unanimous consent that the reading of the amendment be waived. The PRESIDING OFFICER. Without objection, it is so…”

“I ask unanimous consent that the reading of the amendment be waived. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment is as follows: (Purpose: In the nature of a substitute) Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE. This Act may be cited as the ``Cut, Cap, and Balance Act of 2019''. SEC. 2. DEBT LIMIT INCREASE. (a) In General.--Effective on the date described in subsection (b), the limitation in effect under section 3101(b) of title 31, United States Code, shall be increased by $500,000,000,000. (b) Effective Date.--The date described in this subsection is the earliest of the date on which the Archivist of the United States transmits to the States S. J. Res. 3 (116th Congress) in the form introduced on January 4, 2019, S. J. Res. 5 (116th Congress) in the form introduced on January 24, 2019, a balanced budget amendment to the Constitution of the United States, or a similar amendment to the Constitution of the United States if the amendment requires that total outlays not exceed total receipts, contains a spending limitation as a percentage of the gross domestic product, and requires that tax increases be approved by a two-thirds vote in both Houses of Congress for their ratification. SEC. 3. LIMIT FOR ON-BUDGET SPENDING.…”