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Introduced in House (04/20/1994)

National Security Budgeting and Deficit Control Act of 1994 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings) to extend the caps on defense and nondefense discretionary spending through FY 1998.

Requires the special budget authority adjustment required in the final sequestration report for FY 1995 under such Act to be equally divided between the defense and nondefense categories for each applicable fiscal year.