To reform the budget process.
(Sec. 103) Directs Congress to enact, and the President to sign, a binding budget law in the form of a joint resolution by May 15 of the calendar year in which the beginning of a new fiscal period commences.
Requires the law to set, for the budget year and five subsequent years: (1) budget authority and outlays for the major functional categories, except for disbursements of the Old Age, Survivors, and Disability (OASDI) Insurance program under title II of the Social Security Act; (2) annual limits for budget authority and outlays for discretionary and mandatory programs, activities, and accounts, excepting social security disbursements and interest; (3) appropriate levels for receipts and surpluses or deficits, excluding those of OASDI; (4) nonsocial security budget totals; (5) separate annual estimates for disbursements, receipts, and surpluses or deficits for social security; and (6) unified budget totals for budget authority and outlays, receipts, and surpluses or deficits.
Authorizes Members of the House of Representatives or the Senate to demand a separate vote on whether to change any expenditure limit if the budget changes such a limit.
(Sec. 104) Amends the Congressional Budget Act of 1974 to remove exceptions to the requirement that the budget resolution be adopted before budget-related legislation is considered.
Provides that consideration in the House or the Senate of any legislation making available budget, entitlement, direct spending, contract, or direct or guaranteed lending authority in the fiscal period concerned in the absence of an enacted joint budget resolution shall only be in order upon a two-thirds vote to waive the requirement that the budget resolution be adopted first.
(Sec. 105) Makes it in order to offer an amendment to a bill providing discretionary budget authority or budget outlays that would: (1) only reduce such authority or outlays; and (2) reduce the appropriate caps in the most recently enacted budget resolution for such authority or outlays by an amount less than or equal to the amount of the reduction in the amendment.
(Sec. 106) Changes references to the "concurrent resolution on the budget" to the "joint resolution on the budget" in the Congressional Budget Act of 1974, Rules of the House of Representatives, Standing Rules of the Senate, and the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
(Sec. 107) Sets forth a timetable for completion of certain budget actions by the President, the Office of Management and Budget (OMB), and the Congressional Budget Office (CBO).
(Sec. 108) Directs the President to submit a special message with the OMB Analysis of Actual Spending Levels and Projections for the Upcoming Year that includes proposed legislative changes to: (1) offset the outlay excess; or (2) revise the outlay caps contained in this Act.
Sets forth congressional procedures for the consideration of legislation to address excess outlays.
(Sec. 109) Requires presidential budgets for FY 1999 through 2003 to be consistent with the spending levels established in this Act or to recommend changes to such levels. Makes it out of order in the House or the Senate to consider any concurrent budget resolution unless it is consistent with the levels established in this Act.
(Sec. 110) Requires OMB to submit a report containing account numbers and spending levels for specific entitlement categories to the President and Congress. Applies direct spending caps, effective upon submission of such report, to all entitlement authority except for undistributed offsetting receipts and net interest outlays. Sets forth entitlement categories subject to caps.
(Sec. 111) Requires determinations of direct spending caps (as well as any breaches of such caps and actions necessary to remedy such breaches) to be based on certain economic assumptions set forth in the joint explanatory statement of managers accompanying the most recently enacted joint resolution on the budget and subject to periodic reestimation based on changed economic conditions or changes in eligible population.
(Sec. 112) Provides for automatic adjustments to caps for entitlements and other mandatory spending to reflect changes in specified economic and other conditions.
Title II: Enforcement Provisions - Directs OMB to: (1) compile a statement of actual and projected deficits, revenues, and direct spending for a fiscal year, following the end of that year, and for the current fiscal year, identifying such spending by categories of entitlements and other mandatory spending; and (2) in any year in which actual or projected deficits, revenues, or spending in violation of caps by more than one-tenth of one percent of the applicable direct spending for the year concerned occurs, issue a report to the President and Congress, estimating necessary spending reductions.
(Sec. 202) Provides for enforcement of the direct spending caps on categories of spending established under title I of this Act. Applies specified enforcement rules and procedures for any fiscal year in which direct spending exceeds the applicable direct spending cap.
(Sec. 203) Sets forth: (1) general rules for the triggering of sequestration to reduce spending for programs subject to direct spending caps; (2) special rules for direct spending programs with certain characteristics; and (3) rules for insurance, loan, and State grant programs.
Requires a within session sequester under certain conditions.
(Sec. 204) Exempts certain budget accounts, activities within accounts, or income from sequestration.
(Sec. 205) Sets forth special rules for sequestration orders for: (1) the child support enforcement program under the Social Security Act; (2) the Commodity Credit Corporation; (3) the earned income tax credit; (4) regular and extended unemployment compensation; (5) the Federal Employees Health Benefits Fund; (6) the Federal Housing Finance Board; (7) Federal pay; (8) Medicare; (9) the Postal Service Fund; (10) Department of Energy power marketing administration funds or the Tennessee Valley Authority fund; and (11) programs which provide a businesslike service in exchange for a fee.
(Sec. 206) Directs CBO and OMB to report to the President and Congress the budget baselines for the budget year and the next nine fiscal years.
Specifies requirements for the budget baseline.
(Sec. 207) Requires amounts to be withheld from allocation to the appropriate congressional committees (within the discretionary caps for each fiscal year) and reserved for natural disasters and other emergency purposes. Provides that such amounts shall be at least one percent of total budget authority and outlays available within those caps for the fiscal year concerned.
Bars adjustments to the discretionary spending limits set forth under the Gramm-Rudman-Hollings Act unless the amount appropriated for discretionary accounts designated as emergency requirements exceeds the amount reserved under this Act.
Sets forth conditions under which reserved amounts shall be made available for allocation to appropriate committees.
Amends the Congressional Budget Act of 1974 to make it out of order in the House or the Senate to consider legislation containing an emergency designation if it also provides an appropriation or direct spending for any other item or contains other matter. Permits such legislation to contain rescissions or spending reductions.
(Sec. 208) Amends rule X of the Rules of the House of Representatives to require the House Appropriations Committee to report at least once each Congress (currently, from time to time) on recommendations for terminating or modifying provisions of law which provide permanent budget authority. Requires standing committees to review at least once every ten years (currently, from time to time) continuing programs within their jurisdiction for which appropriations are not made annually to ascertain whether such programs should be modified to provide for annual appropriations.
Introduced in House
Introduced in House
Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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