Summary: S.Con.Res.104 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for S.Con.Res.104. Bill summaries are authored by CRS.

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Introduced in Senate (03/31/1992)

Establishes the congressional budget for FY 1993, and sets forth appropriate budgetary levels for FY 1994 through 1997.

Sets forth recommended budgetary levels of Federal revenues, new budget authority, budget outlays, deficits, public debt, and credit activity.

Sets forth the amounts of increase in the public debt subject to limitation and revenues and outlays of the Social Security trust funds for FY 1993 through 1997. Specifies the funding of major functional categories.

Expresses the sense of the Congress that the Congress should not enact major reductions in the Social Security revenues unless the current actuarial estimates of the Social Security Trust Funds over the next 75 years indicates the Trust Funds are actuarially sound.

Allows an increase in budget authority and outlays to be allocated to a committee when another committee of the Senate or a committee of conference have reported legislation that will, if enacted, reduce budget authority and outlays in an equal amount or an amount that exceeds the increase of such allocation. Provides for revising allocations and reporting them.

Allows a reduction in revenue aggregates for legislation that would result in a reduction in revenues due to provisions relating to certain tax incentives, if such legislation would, if enacted, reduce outlays in an amount that is equal to or exceeds the reduction in the revenue aggregates for FY 1993 and FY 1993 through 1997.

Provides that, for purposes of certain allocations and points of order under the Congressional Budget and Impoundment Control Act of 1974, if a committee exceeds its spending allocation, no direct spending reductions shall be scored with respect to the level of budget authority or outlays under such Act for any provision of legislation that would increase direct spending unless such legislation would, if enacted, bring the committee within its spending allocation.

Expresses the sense of the Congress that legislation should be enacted that: (1) would, beginning with FY 1994, phase in a cap by FY 1997 on the growth in mandatory spending for all programs except Social Security at a level that allows for beneficiary and inflation growth; (2) requires mandatory funding levels in the President's budget and the congressional budget resolution not to exceed the mandatory cap; and (3) provides a mechanism to reduce the growth in spending for mandatory programs except Social Security if such mandatory spending exceeds the cap.

Expresses the sense of the Congress that the Budget Enforcement Act should be extended, including extension of: (1) individual caps on defense and nondefense spending; (2) pay-as-you-go discipline for mandatory programs; (3) maximum deficit amounts; (4) supermajority points of order enforcement mechanisms; and (5) sequester mechanisms to enforce the discretionary spending caps, pay-as-you-go discipline, and the maximum deficit amounts.