[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. Con. Res. 20 Introduced in Senate (IS)]







107th CONGRESS
  1st Session
S. CON. RES. 20

Setting forth the congressional budget for the United States Government 
                         for fiscal year 2002.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 5, 2001

 Mr. Hollings submitted the following concurrent resolution; which was 
                referred to the Committee on the Budget

_______________________________________________________________________

                         CONCURRENT RESOLUTION


 
Setting forth the congressional budget for the United States Government 
                         for fiscal year 2002.

    Resolved by the Senate (the House of Representatives concurring),

SECTION 1. CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2002.

    (a) Declaration.--Congress determines and declares that this 
resolution is the concurrent resolution on the budget for fiscal year 
2002.
    (b) Table of Contents.--The table of contents for this concurrent 
resolution is as follows:

Sec. 1. Concurrent resolution on the budget for fiscal year 2002.
                      TITLE I--LEVELS AND AMOUNTS

Sec. 101. Recommended levels and amounts.
Sec. 102. Social Security.
Sec. 103. Major functional categories.
             TITLE II--BUDGETARY RESTRAINTS AND RULEMAKING

Sec. 201. Reserve fund for tax cuts in the event of a recession.
Sec. 202. Reserve fund for tax cuts in the event of a surplus.
Sec. 203. Exercise of rulemaking powers.

                      TITLE I--LEVELS AND AMOUNTS

SEC. 101. RECOMMENDED LEVELS AND AMOUNTS.

    The following budgetary levels are the appropriate levels for the 
fiscal year 2002:
            (1) Federal revenues.--For purposes of the enforcement of 
        this resolution--
                    (A) The recommended level of Federal revenues 
                pursuant to CBO estimates is $1,703,488,000,000.
                    (B) The amount by which the aggregate level of 
                Federal revenues should be changed is $0.
            (2) New budget authority.--For purposes of the enforcement 
        of this resolution, the appropriate level of total new budget 
        authority is $1,600,781,000,000.
            (3) Budget outlays.--For purposes of the enforcement of 
        this resolution, the appropriate level of total budget outlays 
        is $1,561,391,000,000.
            (4) Deficits.--For purposes of the enforcement of this 
        resolution according to CBO, the amount of the deficit is plus 
        $142,097,000,000.
            (5) Public debt.--The appropriate level of the public is 
        $25,564,449,000,000.
            (6) Debt held by the public.--The appropriate level of the 
        debt held by the public is $2,848,489,000,000.

SEC. 102. SOCIAL SECURITY.

    (a) Social Security Revenues.--For purposes of Senate enforcement 
under section 311 of the Congressional Budget Act of 1974, the amount 
of revenues of the Federal Old-Age and Survivors Insurance Trust Fund 
and the Federal Disability Insurance Trust Fund is $532,308,000,000.
    (b) Social Security Outlays.--For purposes of Senate enforcement 
under section 311 of the Congressional Budget Act of 1974, the amount 
of outlays of the Federal Old-Age and Survivors Insurance Trust Fund 
and the Federal Disability Insurance Trust Fund is $360,171,000,000.
    (c) Social Security Administrative Expenses.--For purposes of 
Senate enforcement under section 311 of the Congressional Budget Act of 
1974, the amounts of new budget authority and budget outlays of the 
Federal Old-Age and Survivors Insurance Trust Fund and the Federal 
Disability Insurance Trust Fund for administrative expenses are 
$3,579,000,000 for new budget authority, and $3,525,000,000 for 
outlays.

SEC. 103. MAJOR FUNCTIONAL CATEGORIES.

    Congress determines and declares that the appropriate levels of new 
budget authority, budget outlays, new direct loan obligations, and new 
primary loan guarantee commitments for fiscal year 2002 for each major 
functional category are:
            (1) National Defense (050):
                    (A) New budget authority, $321,022,000,000.
                    (B) Outlays, $313,400,000,000.
            (2) International Affairs (150):
                    (A) New budget authority, $23,214,000,000.
                    (B) Outlays, $18,838,000,000.
            (3) General Science, Space, and Technology (250):
                    (A) New budget authority, $21,583,000,000.
                    (B) Outlays, $20,725,000,000.
            (4) Energy (270):
                    (A) New budget authority, $1,360,000,000.
                    (B) Outlays, -$19,000,000.
            (5) Natural Resources and Environment (300):
                    (A) New budget authority, $30,031,000,000.
                    (B) Outlays, $28,305,000,000.
            (6) Agriculture (350):
                    (A) New budget authority, $19,265,000,000.
                    (B) Outlays, $17,593,000,000.
            (7) Commerce and Housing Credit (370):
                    (A) New budget authority, $10,174,000,000.
                    (B) Outlays, $6,587,000,000.
            (8) Transportation (400):
                    (A) New budget authority, $64,444,000,000.
                    (B) Outlays, $56,167,000,000.
            (9) Community and Regional Development (450):
                    (A) New budget authority, $11,892,000,000.
                    (B) Outlays, $11,730,000,000.
            (10) Education, Training, Employment, and Social Services 
        (500):
                    (A) New budget authority, $80,924,000,000.
                    (B) Outlays, $76,658,000,000.
            (11) Health (550):
                    (A) New budget authority, $191,280,000,000.
                    (B) Outlays, $189,220,000,000.
            (12) Medicare (570):
                    (A) New budget authority, $229,179,000,000.
                    (B) Outlays, $229,121,000,000.
            (13) Income Security (600):
                    (A) New budget authority, $273,138,000,000.
                    (B) Outlays, $271,655,000,000.
            (14) Social Security (650):
                    (A) New budget authority, $11,004,000,000.
                    (B) Outlays, $11,003,000,000.
            (15) Veterans Benefits and Services (700):
                    (A) New budget authority, $51,248,000,000.
                    (B) Outlays, $50,657,000,000.
            (16) Administration of Justice (750):
                    (A) New budget authority, $32,431,000,000.
                    (B) Outlays, $31,436,000,000.
            (17) General Government (800):
                    (A) New budget authority, $16,496,000,000.
                    (B) Outlays, $16,193,000,000.
            (18) Net Interest (900):
                    (A) New budget authority, $254,882,000,000.
                    (B) Outlays, $254,882,000,000.
            (19) Allowances (920):
                    (A) New budget authority, $0.
                    (B) Outlays, $0.
            (20) Undistributed Offsetting Receipts (950):
                    (A) New budget authority, -$42,303,000,000.
                    (B) Outlays, -$42,303,000,000.
            (21) Multiple functions (990):
                    (A) New budget authority, -$483,000,000.
                    (B) Outlays, -$457,000,000.

             TITLE II--BUDGETARY RESTRAINTS AND RULEMAKING

SEC. 201. RESERVE FUND FOR TAX CUTS IN THE EVENT OF A RECESSION.

    (a) Reporting a Recession.--If the budget and economic outlook 
update report provided pursuant to section 202(e)(2) of the 
Congressional Budget Act of 1974 estimates that there will be 2 
consecutive quarters of negative economic growth in the current quarter 
and the next 2 quarters, the chairman of the Committees on the Budget 
of the Senate or the House of Representatives, as applicable, may make 
the adjustments provided in subsection (b).
    (b) Adjustments.--The chairman of the Committee on the Budget of 
the Senate or House of Representatives, as applicable, may--
            (1) reduce the on-budget revenue aggregate by 
        $100,000,000,000; and
            (2) direct the chairman of the Committee on Finance or the 
        Committee on Ways and Means, as applicable, to report by a date 
        certain a reconciliation bill reducing revenues by 
        $100,000,000,000.

SEC. 202. RESERVE FUND FOR TAX CUTS IN THE EVENT OF A SURPLUS.

    (a) Reporting a Surplus.--If the budget and economic outlook update 
report provided pursuant to section 202(e)(2) of the Congressional 
Budget Act of 1974 estimates that the gross Federal debt for the budget 
year will be reduced, the chairman of the Committees on the Budget of 
the Senate or the House of Representatives, as applicable, may make the 
adjustments provided in subsection (b).
    (b) Adjustments.--The chairman of the Committee on the Budget of 
the Senate or House of Representatives, as applicable, may--
            (1) reduce the on-budget revenue aggregate by an amount 
        equal to the amount of the reduction determined as provided in 
        subsection (a); and
            (2) direct the chairman of the Committee on Finance or the 
        Committee on Ways and Means, as applicable, to report by a date 
        certain a reconciliation bill reducing revenues by the amount 
        of that reduction.

SEC. 203. EXERCISE OF RULEMAKING POWERS.

    Congress adopts the provisions of this title--
            (1) as an exercise of the rulemaking power of the Senate 
        and the House of Representatives, respectively, and as such 
        they shall be considered as part of the rules of each House, or 
        of that House to which they specifically apply, and such rules 
        shall supersede other rules only to the extent that they are 
        inconsistent therewith; and
            (2) with full recognition of the constitutional right of 
        either House to change those rules (so far as they relate to 
        that House) at any time, in the same manner, and to the same 
        extent as in the case of any other rule of that House.
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