[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 2335 Referral Instructions Senate (RIS)]

103d CONGRESS
  2d Session
                                S. 2335

To amend the Balanced Budget and Emergency Deficit Control Act of 1985 
 to require that OMB and CBO estimates for paygo purposes to recognize 
  the increased revenues generated by economic growth resulting from 
             legislation implementing any trade agreement.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                July 28 (legislative day, July 20), 1994

   Mr. Brown 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 amend the Balanced Budget and Emergency Deficit Control Act of 1985 
 to require that OMB and CBO estimates for paygo purposes to recognize 
  the increased revenues generated by economic growth resulting from 
             legislation implementing any trade agreement.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That section 252(d) of 
the Balanced Budget and Emergency Deficit Control Act of 1985 is 
amended--
            (1) in the last sentence, by inserting ``Except as provided 
        by the next sentence,'' before ``OMB'' the first place it 
        appears; and
            (2) by adding at the end the following new sentence: ``OMB 
        and CBO estimates prepared under this subsection respecting 
        legislation implementing a trade agreement entered into between 
        the United States and one or more foreign countries shall take 
        into account increased revenues generated by the growth in the 
        gross domestic product resulting from that legislation to 
        offset any loss in tariff revenues due to that legislation 
        subject to the condition that the increased revenues generated 
        by the gross domestic product growth resulting from the 
        legislation implementing a trade agreement shall not be used as 
        offsets beyond the total of lost revenues due to that 
        legislation.''.
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