I 108th CONGRESS 2d Session H. R. 3937 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.

1.

Short title

This Act may be cited as the &short-title1;.

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)..