Fiscal Prudence and Small Business Representation Act of 1981

Summary

Fiscal Prudence and Small Business Representation Act of 1981 - Assures the American people that the deficit for fiscal years 1982 and 1983 will not exceed specified amounts and that outlays will not exceed revenues by the first day of fiscal year 1984. Directs the Director of the Office of Management and Budget, not later than November 15, 1981, to prepare and transmit to Congress a full and complete list of all reductions in budget authority and outlays and increases in revenues for fiscal years 1982, 1983, and 1984 which would be necessary to meet the President's objective that the deficit for fiscal years 1982 and 1983 not exceed specified amounts and that outlays not exceed revenues by the first day of fiscal year 1984. Directs the President to nominate an individual whose background is nonbanking, but who is representative of small business, to fill the first vacancy occurring on the Board of Governors of the Federal Reserve System after the enactment of this Act.

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1 official file

• Introduced in Senate

  summary · EN · 28 October 1981

  Open at official source

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