Amends the Congressional Budget Act of 1974 to prohibit, for any fiscal year beginning after September 30, 1982, the amount of total budget outlays set forth in any concurrent resolution on the budget from exceeding an amount equal to the greater of: (1) an amount in the same ratio to the gross national product (GNP) for such fiscal year as the total budget outlays to the GNP of the preceding fiscal year, minus one percent of the GNP for such fiscal year; or (2) 18 percent of the GNP for such fiscal year.
Permits an increase in such limitation if two-thirds of the whole number of both Houses of Congress pass a bill directed solely to approving specific additional receipts and such bill becomes law.
Introduced in Senate
Read twice and referred to the Committee on Budget pursuant to the order of August 4, 1977, with instructions that if one committee reports, the other committee has thirty days of continuous session to report or be discharged.
Read twice and referred to the Committee on Governmental Affairs pursuant to the order of August 4, 1977, with instructions that if one committee reports, the other committee has thirty days of continuous session to report or be discharged.
Star Print ordered s.2664.
Committee on Governmental Affairs requested executive comment from GAO; CBO; OMB.
Star Print ordered S.2664.
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