[Congressional Record Volume 141, Number 101 (Tuesday, June 20, 1995)]
[House]
[Pages H6116-H6117]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        PRINTING OF PROPOSED AMEND- MENT TO HOUSE RESOLUTION 169

  Mr. BEILENSON. Mr. Speaker, I ask unanimous consent that the 
amendment that I would offer to House Resolution 169 be printed in the 
Record.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from California?
  There was no objection.
  The text of the proposed amendment is as follows:

       At the end of the resolution, add the following:
       Sec.   . Before consideration of any other amendment, it 
     shall be in order, any rule of the House to the contrary 
     notwithstanding, to consider the following two amendments in 
     the order specified:
       1. An amendment to be offered by Representative Brewster of 
     Oklahoma and Representative Harman of California:
       At the end of the bill, add the following new title:

                  TITLE IV--DEFICIT REDUCTION LOCKBOX


  deficit reduction trust fund; downward adjustments in discretionary 
                            spending limits

       Sec. 401. (a) Establishment.--There is established in the 
     Treasury of the United [[Page H 6117]] States a trust fund to 
     be known as the ``Deficit Reduction Trust Fund'' (in this 
     title referred to as the ``Fund'').
       (b) Contents.--The Fund shall consist only of amounts 
     transferred to the Fund under subsection (c).
       (c) Transfers of Moneys to Fund.--For each of the fiscal 
     years 1996 though 1998, the Secretary of the Treasury shall 
     transfer to the Fund the aggregate amount of estimated 
     reductions in new budget authority and outlays for 
     discretionary programs (below the allocations for those 
     programs for each such fiscal year under section 602(b) of 
     the Congressional Budget Act of 1974) resulting from the 
     provisions of this Act, as calculated by the Director.
       (d) Use of Moneys in Fund.--
       (1) In general.--Except as provided in paragraph (2), the 
     amounts in the Fund shall not be available, in any fiscal 
     year, for appropriation, obligation, expenditure, or 
     transfer.
       (2) Use of amounts for reduction of public debt.--The 
     Secretary of the Treasury shall use the amounts in the Fund 
     to redeem, or buy before maturity, obligations of the Federal 
     Government that are included in the public debt. Any 
     obligation of the Federal Government that is paid, redeemed, 
     or bought with money from the Fund shall be canceled and 
     retired and may not be reissued.
       (e) Downward Adjustments in Discretionary Spending 
     Limits.--Upon the enactment of this Act, the Director of the 
     Office of Management and Budget shall make downward 
     adjustments in the adjusted discretionary spending limits 
     (new budget authority and outlays) as set forth in section 
     601(a)(2) of the Congressional Budget Act of 1974 for each of 
     the fiscal years 1996 through 1998 by the aggregate amount of 
     estimated reductions in new budget authority and outlays 
     transfered to the Fund under subsection (c) for such fiscal 
     year, as calculated by the Director.
       2. An amendment to be offered by Representative Baldacci of 
     Maine:
       Page 49, after line 25, insert the following new section:
       Sec. 312. None of the funds made available in this Act may 
     be provided for any Member, officer, or employee of the House 
     of Representatives when it is made known to the Federal 
     entity or official to which the funds are made available that 
     such Member, officer, or employee has accepted a gift, 
     knowing that such gift is provided directly or indirectly by 
     a paid lobbyist, a lobbying firm, or an agent of a foreign 
     principal.

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