There is one summary for this bill. Bill summaries are authored by CRS.

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Introduced in Senate (03/18/1994)


Title I: Levels and Amounts

Title II: Budgetary Procedures

Title III: Sense of Congress Provisions

Title I: Levels and Amounts - Establishes the budget for FY 1995 and sets forth appropriate budgetary levels for FY 1996 through 1999.

(Sec. 2) Sets forth recommended budgetary levels of Federal revenues, new budget authority, budget outlays, deficits, public debt, and credit activity.

(Sec. 3) 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.

(Sec. 6) Sets forth funding levels for each major functional category.

Title II: Budgetary Procedures - 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.

(Sec. 22) Limits the levels of social security outlays and revenues for this resolution to the current services levels.

(Sec 23) Establishes Senate enforcement procedures to continue pay-as-you-go enforcement procedures through FY 2003.

(Sec. 24) 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 1995 through 1999. Describes such purposes as funding: (1) to improve the well-being of families through welfare or other reforms, to provide for services to support or protect children, or to improve the health, nutrition or care of children; (2) to provide comprehensive training or job search assistance or to reform unemployment compensation; (3) to make continuing improvements in ongoing health care programs and comprehensive health care reform; (4) to preserve and rebuild the United States maritime industry; (5) to reform the financing of Federal elections; (6) to implement trade-related legislation; (7) for reforms relating to the Pension Benefit Guaranty Corporation; (8) to provide for simplified collection of employment taxes on domestic services; (9) to reform the Comprehensive Environmental Response, Compensation, and Liability Act of 1980; (10) to consolidate the supervision of depository institutions insured under the Federal Deposit Insurance Act; and (11) to preserve United States energy security.

(Sec. 25) 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.

Title III: Sense of Congress Provisions - Expresses the sense of the Senate with respect to budgetary accounting of health care reform, reimbursing State and local governments for illegal immigration costs, using Blue Chip projections for economic assumptions, and the cost to State and local governments of unfunded Federal mandates.