[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 2202 Referral Instructions Senate (RIS)]

103d CONGRESS
  2d Session
                                S. 2202

To provide for increased economic growth, job creation and opportunity 
                    by reducing the Federal deficit.


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                   IN THE SENATE OF THE UNITED STATES

                June 16 (legislative day, June 7), 1994

   Mr. Gramm introduced the following bill; which was read twice and 
   referred jointly pursuant to the order of August 4, 1977, to the 
 Committees on the Budget and Governmental Affairs, with instructions 
that if one Committee reports, the other Committee have thirty days to 
                        report or be discharged

_______________________________________________________________________

                                 A BILL


 
To provide for increased economic growth, job creation and opportunity 
                    by reducing the Federal deficit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 101. DOWNWARD ADJUSTMENT OF DISCRETIONARY SPENDING LIMITS.

    The discretionary spending limits (new budget authority and 
outlays) for each fiscal year 1994 through 1998 set forth in section 
601(a)(2) of the Congressional Budget Act of 1974, as adjusted in 
strict conformance with section 251 of the Balanced Budget and 
Emergency Deficit Control Act of 1985, shall be reduced, as calculated 
by the Director of the Office of Management and Budget, in amounts 
equal to the aggregate amount of rescissions in any Act enacted on or 
after the date of enactment of this Act for fiscal years 1994 through 
1998.

SEC. 102. WAIVER FOR RESCISSIONS THAT OFFSET EMERGENCY SPENDING.

    The reductions required under section 101 in the discretionary 
spending limits shall not apply to any rescissions enacted in any Act 
designated by the President and the Congress as emergency 
appropriations (as provided in section 251(D) of the Balanced Budget 
and Emergency Deficit Control Act of 1985) to the extent that the 
aggregate amount of rescissions in such bill reduces the aggregate 
amount of budget authority and outlays designated as emergency 
appropriation by the President.

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