A bill to amend the Congressional Budget Act of 1974 to achieve balanced budgets; to provide for uniform revenue estimates binding on the Congress and the President; to establish procedures for appropriate responses to extraordinary circumstances; and for other purposes.
Uniform Revenue Estimate and Balanced Budget Act of 1982 - Amends the Congressional Budget Act of 1974 to prohibit either House of Congress from considering any concurrent resolution on the budget, any amendment to it, or conference report on it, if the adoption of such a measure would cause total budget outlays to exceed the most recent revenue estimate for the fiscal year submitted by the Board of Revenue Estimators (established by this Act), increased by additional revenues to be obtained through the implementation of reconciliation instructions.
Provides for a waiver of such prohibition by a three-fifths vote of the Congress, during a national emergency, declaration of war, or economic distress.
Establishes a Board of Revenue Estimators to make quarterly reports to the President and to the Committees on the Budget of each House containing an estimate of Federal revenues for the ensuing fiscal year and each of the two fiscal years immediately following.
Limits any budget sent by the President to Congress for an ensuing fiscal year to a recommended level of estimated expenditures not exceeding the sum of the Government receipts estimated by the Board of Revenue Estimators, plus any increases in revenues the President recommends.
Introduced in House
Introduced in House
Referred to House Committee on Government Operations.
Referred to House Committee on Rules.
Executive Comment Requested from OMB, FRS, Treasury.
Referred to Subcommittee on Legislation and National Security.
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