[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 823 Referral Instructions Senate (RIS)]







104th CONGRESS
  1st Session
                                 S. 823

   To amend the Congressional Budget Act of 1974 to require that the 
report accompanying the concurrent resolution on the budget include an 
    analysis, prepared after consultation with the Director of the 
 Congressional Budget Office, of the concurrent resolution's impact on 
revenues and outlays for entitlements for the period of 30 fiscal years 
and to require the President to include a 30-year budget projection and 
   generational accounting information each year in the President's 
                                budget.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                 May 18 (legislative day, May 15), 1995

Mr. Kerrey (for himself and Mr. Simpson) 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 Congressional Budget Act of 1974 to require that the 
report accompanying the concurrent resolution on the budget include an 
    analysis, prepared after consultation with the Director of the 
 Congressional Budget Office, of the concurrent resolution's impact on 
revenues and outlays for entitlements for the period of 30 fiscal years 
and to require the President to include a 30-year budget projection and 
   generational accounting information each year in the President's 
                                budget.
    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Long Term Budgeting Act of 1995''.

SEC. 2. THIRTY-YEAR BUDGET PLANNING.

    Section 301(e) of the Congressional Budget Act of 1974 is amended 
by striking paragraph (10) and inserting the following:
            ``(10) an analysis, prepared after consultation with the 
        Director of the Congressional Budget Office, for the period of 
        30 fiscal years beginning with such fiscal year, of the 
        estimated levels of total budget outlays and total new budget 
        authority, the estimated revenues to be received, the estimated 
        surplus or deficit, if any, for each major Federal entitlement 
        program for each fiscal year in such period.''.

SEC. 3. PRESIDENT'S BUDGET.

    Section 1105(a) of title 31, United States Code, is amended by 
adding at the end thereof the following:
            ``(32) an analysis of the generational accounting 
        consequences of the budget including the projected Federal 
        deficit, at current spending levels, in the fiscal year that is 
        20 years after the fiscal year for which the budget is 
        submitted and the revenue levels (including the increase 
        required in current levels) required to eliminate the projected 
        Federal deficit.
            ``(33) a projection for the 5th, 10th, 20th, and 30th year 
        after the fiscal year for which the budget is submitted of the 
        projected receipts and outlays for each major Federal 
        entitlement program.''.
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