Providing for a plan to alleviate the effects of sequestration.

Resolves that Congress must meet its constitutional obligation to provide for the common defense of the United States by restoring spending cuts required by sequestration. (Sequestration is a process of automatic, usually across-the-board spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals.)

Resolves that Congress should enact legislation that:

restores no less than 75% of the pre-sequester levels established by the Budget Control Act of 2011, offsets the increases in discretionary spending through a combination of reductions to mandatory spending and increases in revenue, includes a Chained Consumer Price Index for Social Security and further means testing for Medicare, and increases revenue by closing tax loopholes and capping deductions for high-income households.