H.R.563 - Honesty in Budgeting Act106th Congress (1999-2000)
|Sponsor:||Rep. Smith, Adam [D-WA-9] (Introduced 02/03/1999)|
|Committees:||House - Budget; Ways and Means|
|Latest Action:||02/17/1999 Referred to the Subcommittee on Social Security. (All Actions)|
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Summary: H.R.563 — 106th Congress (1999-2000)All Bill Information (Except Text)
Introduced in House (02/03/1999)
Honesty in Budgeting Act - Expresses the sense of the House of Representatives that Members of Congress, executive branch officials, and their respective representatives should use on-budget numbers when making public statements regarding the Federal budget.
Prohibits receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund from being considered new budget authority, outlays, receipts, deficit, or surplus for purposes of the national budget, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
Amends the Congressional Budget Act of 1974 to require official statement issues by the Office of Management and Budget or the Congressional Budget Office of Federal surplus or deficit totals, as well as any description of or reference to such totals in official publications, to exclude the receipts and disbursements totals of the old age, survivors and disability insurance program under title II of the social security Act. Requires such offices to issue separate reports on the outlays and revenues of the Social Security trust funds.
Prohibits tables and other displays of Federal budgetary aggregates from including such receipts and disbursements.