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

Shown Here:
Introduced in Senate (05/13/1996)

TABLE OF CONTENTS:

Title I: Levels and Amounts

Title II: Budgetary Restraints and Rulemaking

Title III: Sense of the Congress, House of Representatives,

and Senate

Establishes the congressional budget for FY 1997 and sets forth appropriate budget levels for FY 1998 through 2002.

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

(Sec. 102) Sets forth amounts of the increase in the public debt for each such fiscal year.

(Sec. 103) Sets forth the amounts of Social Security revenues and outlays for each such fiscal year with respect to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund.

(Sec. 104) Sets the appropriate levels of new budget authority, budget outlays, new direct loan obligations, and new primary loan guarantee commitments for FY 1997 through 2002 for each major functional category.

(Sec. 105) Provides for first and final reconciliations of spending reductions. Directs the Senate Committee on the Budget to report to the Senate a reconciliation bill carrying out all recommendations of specified Senate committees without any substantive revision.

Provides for reconciliation of revenue reductions. Directs the Senate Committee on Finance to report to the Senate a reconciliation bill proposing changes in laws within its jurisdiction necessary to reduce, for specified fiscal years and periods: (1) revenues by not more than specified amounts; and (2) outlays by specified amounts.

Provides for treatment of reconciliation bills for prior surplus.

Title II: Budgetary Restraints and Rulemaking - Sets forth discretionary spending limits for FY 1997 through 2002.

(Sec. 202) Authorizes reductions of revenue and spending aggregates and revisions of allocations in the Senate for legislation that reduces revenues by providing family tax relief, fuel tax relief, and incentives to stimulate savings, investment, job creation, and economic growth, if such legislation will not increase the deficit for: (1) FY 1997; (2) FY 1997 through 2001; or (3) FY 2002 through 2006.

(Sec. 203) Provides for a Superfund reserve fund in the Senate.

(Sec. 204) Provides for scoring of emergency legislation according to the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

Title III: Sense of the Congress, House of Representatives, and Senate - Expresses the sense of the Congress on: (1) sale of government assets; (2) tax reductions benefitting working families; (3) establishment of a bipartisan commission on the solvency of Medicare; and (4) Medicare transfers.

(Sec. 304) Expresses the sense of the Senate on: (1) considering a change in the minimum wage; (2) long-term projections in budget estimates; (3) immediate repeal of the gas tax; and (4) the delay of issuance of the 1996 Medicare Trustees Report.