A bill to place a limitation on expenditures and net lending for the fiscal year ending June 30, 1975.

Places a $295,000,000,000 limitation on expenditures and net lending under the United States budget for the fiscal year ending June 30, 1975. Provides that a pro rata reduction shall be applied to all appropriations other than for interest on the public debt and social security benefits as necessary to effectuate the provisions of this Act.