To amend the Internal Revenue Code of 1986 and the Balanced Budget and Emergency Deficit Control Act of 1985 to eliminate the Federal budget deficit by the end of fiscal year 1998.

Summary

Amends the Internal Revenue Code to require tax table rate reductions to be based on a percentage of the reduction in Federal spending for calendar years 1993 through 1997. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to provide sequestration procedures to eliminate the deficit by FY 1998. Specifies accounts that are exempt from reduction. Sets forth reporting requirements.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 30 June 1992

   Introduced

   Referred to the House Committee on Government Operations.

   Source: IntroReferral

2. 30 June 1992

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 June 1992

   Introduced

   Introduced in House

   Source: IntroReferral

4. 3 July 1992

   Referred

   Referred to the Subcommittee on Legislation and National Security.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · — · Download file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 30 June 1992

  Open at official source

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Sponsors

• Rep. Campbell, Tom [R-CA-15] · R · Sponsor
• Rep. Packard, Ron [R-CA-48] · R · Cosponsor
• Rep. Weldon, Curt [R-PA-7] · R · Cosponsor
• Rep. Goss, Porter J. [R-FL-14] · R · Cosponsor
• Rep. Bateman, Herbert H. [R-VA-1] · R · Cosponsor
• Sen. Allen, George [R-VA] · R · Cosponsor
• Rep. Cox, Christopher [R-CA-48] · R · Cosponsor
• · hsgo00 · Standing
• · hswm00 · Standing

Related records

• related to → To allow an item veto in appropriation Acts for fiscal years 1991, 1992, 1993, 1994, and 1995 by the President to reduce spending to levels necessary to achieve a balanced budget by fiscal year 1995, and to establish select committees on congressional budget and appropriation process reform in the House of Representatives and in the Senate.