Prohibits the growth of each individual mandatory program except Social Security, beginning with FY 1994 and fiscal years thereafter, from exceeding a level that is: (1) adjusted for beneficiary and inflation growth; plus (2) two percent for FY 1994 and one percent for FY 1995.
Requires a sequester to reduce spending for mandatory programs if Congress fails to make relevant changes in laws to maintain appropriate spending levels.
Referred to the Subcommittee on Legislation and National Security.
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 have thirty days to report or be discharged.
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