A bill providing a statutory basis for a budget that requires that any increase in outlays be financed by an equivalent increase in revenues, and for other purposes.

Summary

Prohibits the Federal budget for a fiscal year, as proposed by the President or as adopted by the Congress in a concurrent resolution on the budget, from: (1) providing for total budget outlays exceeding the total outlays for the preceding fiscal year, unless it provides at least equal increases in revenues and identifies the source of such revenues; or (2) providing for a reduction in revenues from the preceding fiscal year, unless it provides at least equal reductions in outlays and identifies the programs or activities for which outlays will be reduced. Authorizes the Congress, by a two-thirds vote of each House, to waive such prohibition concerning the budget adopted under a concurrent resolution.

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

Timeline

1. 31 July 1985

   Introduced

   Read twice and referred jointly to the Committees on Governmental Affairs; Budget pursuant to the order of August 4, 1977.

   Source: IntroReferral

2. 31 July 1985

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 11 September 1985

   Committee

   Committee on Governmental Affairs requested executive comment from GAO, CBO, OMB, Treasury Department.

   Source: Committee

4. 17 October 1985

   Committee

   Committee on Governmental Affairs received executive comment from GAO.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 31 July 1985

  Open at official source

Sponsors

• Sen. Dodd, Christopher J. [D-CT] · D · Sponsor
• Sen. Bingaman, Jeff [D-NM] · D · Sponsor
• Sen. Gore, Albert, Jr. [D-TN] · D · Cosponsor
• · ssga00 · Standing
• · ssbu00 · Standing

Related records

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