Amends the Congressional Budget Act of 1974 to prohibit, for any fiscal year beginning after September 30, 1985, the amount of total budget outlays set forth in any concurrent resolution on the budget from exceeding specified percentages of the adjusted gross national product. Requires the President to notify Congress with specific recommendations if Federal outlays will exceed the limitations imposed by this Act. Requires congressional budget committees, upon such notification, to report a revised concurrent resolution on the budget in accordance with such limitations.
Introduced in Senate
Read twice and referred jointly to the Committees on Governmental Affairs; 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.
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