[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3937 Introduced in House (IH)]






108th CONGRESS
  2d Session
                                H. R. 3937

      To amend the Congressional Budget Act of 1974 to establish 
                  macroeconomic congressional budgets.


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                    IN THE HOUSE OF REPRESENTATIVES

                             March 11, 2004

Mr. Hastings of Washington (for himself and Mr. Castle) introduced the 
 following bill; which was referred to the Committee on Rules, and in 
      addition to the Committee on the Budget, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
  of such provisions as fall within the jurisdiction of the committee 
                               concerned

_______________________________________________________________________

                                 A BILL


 
      To amend the Congressional Budget Act of 1974 to establish 
                  macroeconomic congressional budgets.

    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 ``Macroeconomic Budgeting Act of 
2004''.

SEC. 2. ESTABLISHMENT OF MACROECONOMIC CONGRESSIONAL BUDGETS.

    (a) Macroeconomic Categories.--Section 301(a) of the Congressional 
Budget Act of 1974 (2 U.S.C. 632(a)) is amended by striking paragraph 
(4) and by redesignating paragraphs (5) through (7) as paragraphs (4) 
through (6), respectively.
    (b) Additional Matters.--Section 301(b) of the Congressional Budget 
Act of 1974 (2 U.S.C. 632(b)) is amended by striking ``and'' at the end 
of paragraph (8), by striking the period and inserting ``; and'' at the 
end of paragraph (9), and by adding at the end the following new 
paragraph:
            ``(10) set forth appropriate levels for each fiscal year 
        covered by such concurrent resolution for new budget authority 
        and outlays for each major functional category established by 
        the Committees on the Budget (after consultation with each 
        other), based on allocations of the total levels set forth 
        pursuant to subsection (a)(1).''.
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