Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require sequestration for a fiscal year if the deficit for the preceding fiscal year exceeds the maximum deficit amount target by more than $10,000,000,000 (zero in FY 1993).
Amends the Congressional Budget Act of 1974 to make it out of order in the Senate or the House of Representatives to consider any concurrent resolution on the budget that sets forth amounts and levels that are not determined based upon the economic and technical assumptions of the Congressional Budget Office.
Introduced in Senate
Read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of August 4, 1977, with instructions that if one Committee reports, the other Committee have thirty days of continuous session to report or be discharged.
Committee on Budget. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Budget. Reported to Senate by Senator Sasser with an amendment in the nature of a substitute. With written report No. 101-531. Additional and minority views filed.
Committee on Budget. Reported to Senate by Senator Sasser with an amendment in the nature of a substitute. With written report No. 101-531. Additional and minority views filed.
Referred to the Committee on Governmental Affairs pursuant to the order of of August 4, 1977.
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