S.154 - Ronald Reagan Peace Dividend Investment Act103rd Congress (1993-1994)
|Sponsor:||Sen. Gramm, Phil [R-TX] (Introduced 01/21/1993)|
|Committees:||Senate - Budget; Governmental Affairs|
|Latest Action:||01/21/1993 Read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of august 4, 1977, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged. (All Actions)|
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Summary: S.154 — 103rd Congress (1993-1994)All Bill Information (Except Text)
Introduced in Senate (01/21/1993)
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 1993 or 1994 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.