Pay for War Resolution - Makes it out of order in the Senate to consider budget authority for overseas contingency operations if it increases the on-budget deficit over the period of the budget year and the ensuing nine fiscal years.
Considers budget authority provided in legislation for overseas contingency operations deficit neutral if such authority: (1) is considered subsequent to an Act of Congress raising revenue for the designated purpose of paying for such operations, or (2) includes new reductions in spending authority.
States that the following amounts are not required to be offset with respect to the overseas contingency operations in Iraq and Afghanistan: (1) for FY2012, $118 billion; and (2) for FY2013-FY2016, an amount equal to the President's budget request for a particular fiscal year.
Permits waiver or suspension of this resolution, or successful appeals from rulings of the Chair, only by an affirmative vote of three-fifths (60) of the Senate.