Summary: S.Con.Res.18 — 103rd Congress (1993-1994)All Information (Except Text)

There is one summary for S.Con.Res.18. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/12/1993)

Establishes the budget for FY 1994 and sets forth appropriate budgetary levels for FY 1995 through 1998.

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

Sets forth the increase in the public debt subject to limitation. Displays Federal retirement trust fund balances. Sets forth Social Security trust fund revenues and outlays for Senate enforcement purposes.

Sets forth funding levels for each major functional category.

Requires the House and Senate Budget Committees to report a reconciliation bill or resolution or both to their respective Houses carrying out all recommendations of House committees concerning changes in laws to provide direct spending sufficient to reduce outlays.

Expresses the sense of the Congress that: (1) the Government should sell assets from time to time; and (2) the amounts realized from such sales will not recur on an annual basis and do not reduce the demand for credit.

Allows budget authority and outlay allocations for legislation that increases funding for certain purposes when legislation has been reported that will not, if enacted, increase the deficit for FY 1994 through 1998. Describes such purposes as funding: (1) to improve the health and nutrition of children and to provide for services to protect children and strengthen families; (2) for economic growth initiatives for unemployment compensation and related programs; (3) to make continuing improvements in ongoing health care programs and comprehensive health care reform; (4) to improve educational opportunities for individuals at the early childhood, elementary, secondary, or higher education levels, or to invest in America's children; (5) to preserve and rebuild the United States maritime industry; (6) to reform the financing of Federal elections; and (7) to implement trade-related legislation.

Limits the levels of social security outlays and revenues for this resolution to the current services levels.

Establishes Senate enforcement procedures to extend the system of discretionary spending limits to budget resolutions for FY 1996 through 1998 and enforce pay-as-you-go spending.

Expresses the sense of the Senate with respect to debt limit reconciliation.