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

Shown Here:
Introduced in Senate (05/15/1995)

TABLE OF CONTENTS:

Title I: Levels and Amounts

Title II: Budgetary Restraints and Rulemaking

Title III: Sense of the Congress and the Senate

Title I: Levels and Amounts - Establishes the budget for FY 1996 and sets forth appropriate budget levels for FY 1997 through 2002.

Sets forth recommended budgetary levels for Federal revenues, total new budget authority, total budget outlays, deficits, public debt, new direct loan obligations, and new primary loan guarantee commitments.

(Sec. 102) Establishes the amounts of the increase in the public debt subject to limitation for FY 1996 through 2002.

(Sec. 103) Establishes the amounts of Social Security trust fund revenues and outlays for Senate enforcement purposes for FY 1996 through 2002.

(Sec. 104) Establishes the appropriate levels of new budget authority, budget outlays, new direct loan obligations, new primary loan guarantee commitments, and new secondary loan guarantee commitments for FY 1996 through 2002 for each major functional category.

(Sec. 105) Requires the Senate Budget Committee, after receiving recommendations required from Senate committees, to report to the Senate a reconciliation bill carrying out such recommendations without any substantive revision.

Title II: Budgetary Restraints and Rulemaking - Establishes Senate procedures to enforce discretionary spending limits for FY 1996 through 2002. Allows exceptions if there is a declaration of war in effect or during periods of low economic growth. Permits a waiver or suspension upon a vote of three-fifths of the Members.

(Sec. 202) Establishes Senate procedures to provide for the continuation of the pay-as-you-go enforcement system.

(Sec. 203) Provides for a reserve fund following passage of a conference report complying with reconciliation requirements.

(Sec. 204) Provides for a budget surplus allowance which permits a reduction of the revenue floor by an amount based on a revised Congressional Budget Office deficit estimate which reflects additional deficit reduction achieved after enactment of reconciliation legislation.

(Sec. 205) Provides for the scoring of all legislation. (Current law excludes emergency legislation from scoring.)

(Sec. 206) Expresses the sense of the Congress that the asset sale scoring prohibition should be repealed and replaced with a methodology that takes into account the long-term budgetary impact of asset sales.

(Sec. 207) Provides that for purposes of the budgetary treatment of administrative expenses the cost of a direct loan shall be the net present value, at the time when the direct loan is disbursed, of the following cash flows for the estimated life of the loan: (1) loan disbursements; (2) repayments of principal; (3) payments of interest and other payments by or to the Government over the life of the loan after certain adjustments; and (4) in the case of legislation increasing direct loan commitments for a program in which loan commitments will equal or exceed $5 billion for the coming fiscal year, specified direct expenses.

(Sec. 208) Extends the Senate's 60-vote enforcement requirement of the Budget Act through September 30, 2002.

(Sec. 209) Repeals provisions of the 1995 budget resolution which created an allowance to fund an Internal Revenue Service compliance initiative outside the discretionary caps.

(Sec. 210) States that the Senate has the constitutional right to change its rules at any time.

Title III: Sense of the Congress and the Senate - Expresses the sense of the Senate with respect to the following: (1) restructuring government and program terminations; (2) returning programs to the States; (3) the commercialization of Federal activities; (4) the establishment of a nonpartisan Consumer Price Index commission; (5) the distribution of agricultural savings; (6) the nondeductibility of lobbying expenses; and (7) expatriate taxes.

Expresses the sense of the Congress with respect to the following: (1) a uniform accounting system for the Federal government; (2) that 90 percent of any tax cuts must go to working families with incomes less than $100,000; (3) creating a bipartisan commission to study the solvency of Medicare; and (4) the protection of children's health.