Balanced Budget Procedures Act of 1985

Summary

Balanced Budget Procedures Act of 1985 - States that if the total outlays would exceed the total revenues set forth for FY 1990 under conditions of high employment in any budget submitted by the President for FY 1987 through 1989, then the President shall also submit an alternative budget in which total outlays would not exceed total revenues for FY 1990 under conditions of high employment. Requires the President, by March 15 of any year in which such an alternative budget is submitted, to submit recommendations and proposals for changes in Federal laws which would be required in order to achieve a balanced budget for FY 1990, with high employment. Requires the Budget Committee of each House, not later than April 15 before each fiscal year from FY 1987 through 1990, to report: (1) a first concurrent resolution on the budget for such fiscal year in which total outlays and total revenues for FY 1990 would be in balance under conditions of high employment; or (2) an alternative concurrent resolution providing such balance. Requires that any presidential budget for a fiscal year that assumes conditions of high employment and recommends that total outlays exceed total revenues be accompanied by an alternative budget in which total outlays do not exceed total revenues. Requires that any presidential budget which assumes that conditions of high employment will not exist during a given fiscal year, and recommends that total outlays exceed total revenues by a certain amount for such fiscal year, be accompanied by an alternative budget in which total outlays would not exceed total revenues under conditions of high employment. Requires the President, not later than March 15 of any year in which an alternative budget is submitted, to submit recommendations and proposals for changes in Federal laws which will, if enacted, reduce the amount by which total outlays would exceed total revenues for such fiscal year under conditions of high employment.

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1 official file

• Introduced in Senate

  summary · EN · 7 March 1985

  Open at official source

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