Summary: H.Con.Res.115 — 97th Congress (1981-1982)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
House receded and concurred with amendment (05/20/1981)

(House receded and concurred in certain Senate amendments with an amendment)

Title I: Revision of the Congressional Budget for the United States Government for the Fiscal Year 1981 - Recommends a level of Federal revenues in fiscal year 1981 of $603,300,000,000.

States that the appropriate level of total budget authority for fiscal year 1981 is $717,500,000,000 and that the appropriate level of total budget outlays is $661,350,000,000.

Sets forth a budget deficit of $58,050,000,000. States that the appropriate level of public debt is $999,800,000,000 with an increase of $14,800,000,000 in the statutory limit on such debt.

States that the appropriate level of total gross obligations for the principal amount of direct loans is $73,500,000,000. Sets the appropriate level of total new primary commitments to guarantee loan principal at $85,200,000,000 and the appropriate level of total new secondary commitments to guarantee loan principal at $66,200,000,000.

Sets forth recommended levels of new budget authority and outlays under each major functional category of the budget for fiscal year 1981.

Title II: Setting Forth the Congressional Budget for the United States Government for the Fiscal Years 1982, 1983, and 1984 - Recommends a level of Federal revenues in fiscal year 1982 of $657,800,000,000 with the aggregate level of Federal revenues decreased by $51,300,000,000. States that the appropriate level of new budget authority for fiscal year 1982 is $770,900,000,000. Sets the appropriate level of total budget outlays at $695,450,000,000.

Sets forth a budget deficit of $37,650,000,000 in light of economic conditions and all other relevant factors.

Sets the appropriate level of the public debt for fiscal year 1982 at $1,079,800,000,000 with an increase of $80,000,000,000 in the statutory limit on such debt.

Sets forth recommended levels of new budget authority and outlays under each major functional category of the budget for fiscal year 1982.

Declares that it is the sense of the Congress that the President through administrative actions should limit fiscal year 1982 total Federal Financing Bank origination of direct loans guaranteed by other Federal agencies and Federal Financing Bank purchases of loan assets from Federal agencies to specified amounts.

Expresses the sense of Congress that the following ceilings should be applied in fiscal year 1982; (1) $17,730,000,000 for off-budget lending activities; (2) $34,200,000,000 for on-budget lending activities; (3) $85,090,000,000 for new primary loan guarantee commitments; and (4) $70,070,000,000 for new secondary loan guarantee commitments.

Recommends levels of Federal revenues of $713,200,000,000 in fiscal year 1983 and $774,800,000,000 in fiscal year 1984.

States that the appropriate level of new total budget authority for fiscal year 1983 is $813,750,000,000 and $866,450,000,000 for fiscal year 1984. Sets the appropriate level of total budget outlays at $732,250,000,000 in fiscal year 1983 and $773,750,000,000 in fiscal year 1984.

Sets the amount of the surplus or deficit in the budget which is appropriate in light of economic conditions at -$19,050,000,000 in fiscal year 1983 and -$1,050,000,000 in fiscal year 1984.

Sets the appropriate level of the public debt at $1,137,650,000,000 and $1,176,650,000,000 in fiscal year 1983 and 1984, respectively. Sets forth the increase in the temporary statutory limit on such debt at $57,850,000,000 in fiscal year 1983 and $38,950,000,000 in fiscal year 1984.

Sets forth the corresponding levels of new budget authority and outlays for each major functional category of the budget in fiscal years 1983 and 1984.

Title III: Providing Reconciliation Instructions and other Enforcement Measures - Requires specified House and Senate committees to recommend program changes in laws within their respective jurisdictions to reduce budget authority and outlays for fiscal years 1982, 1983, and 1984 by specified amounts. Permits such committees to substitute in whole or in part reductions in spending authority for reductions specified to be made in authorizations under that committee's jurisdiction in order to reduce appropriations. Requires such committees, not later than June 12, 1981, to submit their recommendations to the Committees on the Budget of their respective Houses. Requires the Committees on the Budget to report to the House and the Senate a reconciliation bill or resolution or both carrying out all such recommendations without any substantive revision.

Requires the Senate Committee on Governmental Affairs to report changes in laws within the jurisdiction of such committee which would reduce the costs to the Government which result from waste, fraud, and abuse.

Prohibits the enrollment of any bill or resolution providing new budget authority for fiscal year 1982 or new spending authority first effective in fiscal year 1982 until after Congress has completed action on the second concurrent resolution on the budget and on any reconciliation legislation required by such resolution.

Declares that it is the sense of Congress that the President should implement a "zero net inflation impact" policy for the regulations promulgated in the remainder of fiscal year 1981 and for fiscal year 1982.

Declares that it is the sense of Congress that the Director of the Congressional Budget Office should issue a periodic "inflation scorekeeping" report which shall contain an estimate of the positive or negative cost-of-living effects of legislation enacted to date in the current sessions of Congress.