A bill to amend the Congressional Budget and Impoundment Control Act of 1974 to modify the calculation of Federal deficits and maximum deficit amounts under the Balanced Budget and Emergency Deficit Control Act of 1985 and to modify the maximum deficit amounts set by the Balanced Budget and Emergency Deficit Control Act of 1985.

Summary

Amends Congressional Budget and Impoundment Control Act of 1974 provisions concerning the way in which Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Trust Fund receipts and outlays are treated when making Federal deficit determinations for FY 1990 through 1993. Includes in such calculations the excess of receipts and taxes over disbursements of the trust funds for FY 1989. Increases the permissible maximum deficit amounts for FY 1989 through 1993. Establishes allowable maximum deficits for FY 1994 and 1995, to reach zero with respect to FY 1996.

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1 official file

• Introduced in Senate

  summary · EN · 18 October 1988

  Open at official source

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