• Co-Chairs and members of the joint committee shall be appointed not later than 14 calendar days after the date of enactment of this Act.

Friday, September 9, 2011. Latest possible date of announcement of the first Joint Committee meeting (should it take the form of a hearing).

• Not less than 7 days in advance of such hearing, the Co-Chairs of the joint committee shall make a public announcement of the date, place time and subject matter of any hearing to be conducted (unless good cause to begin such hearing at an earlier date).

Wednesday, September 14, 2011. Latest possible date to release agenda for first meeting to Committee members.

• The Co-Chairs of the joint committee shall provide an agenda to the joint committee members not less than 48 hours in advance of any meeting.

Wednesday, September 14, 2011. Latest possible date for filing of witness statements for first hearing meeting.

• A witness appearing before the joint committee shall file a written statement of proposed testimony at least 2 calendar days before the appearance of the witness, unless the requirement is waved by the Co-Chairs.

Friday, September 16, 2011. Latest possible date for first Joint Committee Meeting.

• Not later than 45 calendar days after the date of enactment of this Act, the joint committee shall hold its first meeting.

Saturday, October 1, 2011. Start of FY 2012.

Friday, October 14, 2011. House and Senate Committees transmit recommendations to Joint Committee.

• Not later than Friday, October 14, 2011, each committee of the House of Representatives and Senate may transmit to the joint committee its recommendations for changes in law to reduce the deficit

Wednesday, November 23, 2011. Joint Committee vote on report and proposed legislative language.

• At least 48 hours after a version of the report, recommendations, or legislative language has been made available to all members of the joint committee (as certified by the Co-Chairs) but not later than Wednesday, November 23, 2011, the Joint Committee shall vote on

(i) report that contains a detailed statement of the findings, conclusions, and recommendations of the joint committee and the estimate of the CBO of the legislation and the budgetary effect of the legislation beyond the year 2021.

(ii) proposed legislative language to carry out the above recommendations, including a statement of deficit reduction achieved by the legislation over the period of fiscal years 2012 to 2021.

It takes a vote by a majority of the members of the joint committee to approve the report and legislative language.

Saturday, November 26, 2011. Filing of additional views.

• Within 3 calendar days of the vote of final joint committee vote on approval of the report and legislative language, members of the joint committee who have given notice may file supplemental, minority, or additional views.

Friday, December 2, 2011. Joint Committee submit report and legislative language.

• No later than Friday, December 2, 2011 the joint committee shall submit joint committee report and legislative language to the President, Vice President, Speaker of the House, and majority and minority leaders of each House — assuming that the report and legislative language have been approved by the joint committee.

Friday, December 9, 2011. House and Senate Committees must report the bills to the full chamber.

• Any committee of the House of Representatives to which the joint committee bill is referred shall report it to the House without amendment not later than Friday, December 9, 2011.
• Committees in the Senate shall report the bill without any revision and with a favorable recommendation, an unfavorable recommendation, or without recommendation, not later than Friday, December 9, 2011.

Likely December 13 or 14, 2011. Senate debate may start.

• Not later than 2 days of session after the date on which a joint committee bill is report or discharged from all committees (in the Senate) to which it was referred, the Senate majority leader (or designee) may move to proceed to consideration. Debate on the bill shall not exceed 30 hours.

Friday, December 23, 2011. Date by which vote in passage in House or Senate must occur.

• The vote on passage of the joint committee bill by the House of Representatives shall occur not later than Friday, December 23, 2011.
• If the Senate has voted to proceed to the joint committee bill, the vote on passage of the joint committee bill shall occur immediately following the conclusion of the debate on a joint committee bill, and a single quorum call at the conclusion of the debate if requested. The vote on passage of the joint committee bill shall occur not later than Friday, December 23, 2011.

If the President vetoes the joint committee bill, debate on a veto message in the Senate shall be 1 hour.

Saturday, December 31, 2011. Latest possible date for vote by House or Senate on Balanced Budget Amendment.

Saturday, December 31, 2011. Latest possible date for President to submit first certification to raise debt limit — automatic raise of $400 billion.

• The Secretary of the Treasury may exercise authority to borrow an additional $900 billion, subject to the enactment of a joint resolution of disapproval. Upon submission of certification, the debt limit is increased by $400 billion.

January 31, 2012. Joint Committee terminates.

Sunday, February 19, 2012. Latest possible date for Congress to disapprove of first debt limit increase.

• The debt limit may not be raised if, within 50 calendar days after the date on which Congress receives a certification, there is enacted into law a joint resolution disapproving the President’s exercise of authority with respect to such additional amount.