Expressing the sense of the House of Representatives that the United States should take steps to reduce worldwide military expenditures, to reduce international arms transfers, and to stop the spread of weapons of mass destruction in order to promote peace and security and to ensure that more funds are available for social programs and economic development.

Expresses the sense of the House of Representatives that the United States should: (1) continue discussions with the other permanent members of the United Nations (UN) Security Council and other arms sellers on setting strict limits and guidelines on all international arms transfers; (2) reduce military assistance programs by 25 percent by 1995 and direct the savings to UN and international peacekeeping operations, economic conversion assistance programs in regions of the United States adversely affected by defense budget cuts, and bilateral development assistance to foreign countries which suffer from widespread hunger and poverty; (3) eliminate the self-financing three percent administrative fee that the Defense Security Assistance Agency adds to the costs of weapons it transfers to foreign countries; (4) seek to expand the number of signatories to the 1987 Missile Technology Control Regime beyond the original seven countries; (5) encourage the World Bank and the International Monetary Fund to discontinue loans to countries which devote more than three percent of their gross national product (GNP) to military expenditures; (6) prohibit sales of offensive arms to countries which devote more than six percent of their GNP to military purposes and phase out sales of offensive arms by 1996 to countries which devote between three and six percent of their GNP to military purposes; (7) prohibit the Export-Import Bank from extending credit for the sale of military articles and services to any country; (8) reduce all foreign aid, except emergency humanitarian assistance, by 25 percent each year to countries which devote more than three percent of their GNP to military purposes; and (9) encourage the UN Security Council to assist in the negotiation of peaceful solutions to territorial and other disputes in the world and to guarantee the security of countries threatened by other countries.