There is one summary. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (11/26/1991)

Ronald Reagan Peace Dividend Investment Act - Amends the Congressional Budget Act of 1974 to provide for a reduction in the deficit and an increase in the personal income tax exemption when outlays in the defense category for FY 1992 or 1993 are estimated to be below the discretionary spending limit for such outlays. Requires an adjustment in such spending limits under such circumstances.

Prohibits Senate consideration of legislation that would reduce defense spending below the spending limit for the defense category if such legislation does not allocate the total amount of reduced new budget authority or outlays between deficit reduction and increases in the personal income tax exemption.