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.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 31 July 1985

  Open at official source

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