Congressional Budgetary Procedures Act

Summary

Congressional Budgetary Procedures Act - Establishes a standing Committee of the Senate to be known as the Committee on the Budget and a Standing Committee of the House of Representatives to be known as the Committee on the Budget. Outlines the composition and duties of each committee. Authorizes these committees to consider those bills introduced in each respective House, providing new advance obligational authority. Provides that neither committee of the House or Senate shall consider such new budgetary measures after the first of May except in emergency or the waiver of such time limitation by 2/3 vote. Creates a Congressional Office of the Budget and outlines the duties of such Office. Provides that the function of the office is to provide information to the Budget Committees of the two Houses and to other Committees of the two Houses with respect to budget and appropriation bills. Abolishes the joint committee on reduction of Federal Expenditures. Requires the office to recommend to each budget committee of the two houses the amount by which budget outlays of the U.S. should exceed revenues expected to be received or the amount by which such revenues should exceed such budget outlays in order to provide for appropriate growth and stability of the economy of the U.S. Requires each budget committee to give consideration to such recommendations and make a report to the office concerning such budget considerations. Requires that by March 1 of each year the Committees submit a concurrent resolution to their respective Houses containing specified budget information. Outlines those procedures for review and debate of such concurrent resolution. Provides that there shall be a conference of two Houses to resolve any difference between the concurrent resolutions passed by each House. Makes conforming amendments in the Budget and Accounting Act of 1921. Provides that all bills and resolutions providing budget authority with respect to any fiscal year shall provide a limit on budget outlays in such fiscal year under such budget authority. Provides that the provisions of this Act are enacted by Congress as an exercise of the rulemaking powers of the House and Senate.

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Documents

2 official files

• Reported to Senate with amendment(s)

  summary · EN · 21 February 1974

  Open at official source

• Introduced in Senate

  summary · EN · 11 April 1973

  Open at official source

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