A concurrent resolution revising the congressional budget for the United States Government for the fiscal year 1986 and setting forth the congressional budget for the United States Government for the fiscal years 1986, 1987, and 1988.

Summary

Revises the concurrent resolution on the budget for FY 1985 and sets forth the first concurrent resolution on the budget for FY 1986 and the appropriate budgetary levels for FY 1987 and 1988. Recommends levels of Federal revenues of $736,050,000,000 for FY 1985, $794,100,000,000 for FY 1986, $866,000,000,000 for FY 1987, and $955,600,000,000 for FY 1988. Sets the amounts by which the aggregate levels of Federal revenues should be increased at zero for FY 1985, $1,450,000,000 for FY 1986, $1,700,000,000 for FY 1987, and $3,100,000,000 for FY 1988. Sets the amounts for Federal Insurance Contributions Act (FICA) revenues for hospital insurance within the recommended levels of Federal revenues at $44,800,000,000 for FY 1985, $51,000,000,000 for FY 1986, $56,100,000,000 for FY 1987, and $61,300,000,000 for FY 1988. Sets the amount for FICA revenues for old-age, survivors, and disability insurance within the recommended levels of Federal revenues at $186,150,000,000 for FY 1985, $200,700,000,000 for FY 1986, $216,850,000,000 for FY 1987, and $248,250,000,000 for FY 1988. Sets the appropriate levels of total new budget authority at $1,039,100,000,000 for FY 1985, $1,051,500,000,000 for FY 1986, $1,125,700,000,000 for FY 1987, and $1,205,300,000,000 for FY 1988. States that the appropriate levels of total budget outlays are $941,000,000,000 for FY 1985, $959,100,000,000 for FY 1986, $1,022,450,000,000 for FY 1987, and $1,073,650,000,000 for FY 1988. Sets the amounts of the deficits in the budget which are appropriate in light of economic conditions and all other relevant factors at $205,600,000,000 for FY 1985, $165,000,000,000 for FY 1986, $156,450,000,000 for FY 1987, and $118,050,000,000 for FY 1988. States that appropriate levels of the public debt are $1,857,400,000,000 for FY 1985, $2,089,700,000,000 for FY 1986, $2,320,700,000,000 for FY 1987, and $2,536,500,000,000 for FY 1988. Sets the amounts by which the statutory limits on such limit should be increased at $33,600,000,000 for FY 1985, $232,300,000,000 for FY 1986, $231,000,000,000 for FY 1987, and $215,800,000,000 for FY 1988. Sets forth the appropriate levels of total Federal credit activity as follows: (1) $51,950,000,000 for new direct loan obligations, $68,800,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1985; (2) $38,050,000,000 for new direct loan obligations, $74,600,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1986; (3) $37,000,000,000 for new direct loan obligations, $73,000,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1987; and (4) $36,450,000,000 for new direct loan obligations, $76,900,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1988. Sets forth the levels of budget authority, budget outlays, new direct loan obligations, and new loan guarantee commitments for each major functional category for FY 1985 through 1988. Sets forth revised budgetary levels reflecting both the unified budget and off-budget transactions for FY 1986 through 1987. Recommends revised levels of Federal revenues of $794,100,000,000 for FY 1986, $866,000,000,000 for FY 1987, and $955,600,000,000 for FY 1988. Sets the revised amounts by which the aggregate level of revenues should be increased at $1,450,000,000 for FY 1986, $1,700,000,000 for FY 1987, and $3,100,000,000 for FY 1988. Sets the revised amounts for FICA revenues for hospital insurance within the recommended levels of Federal revenues at $51,000,000,000 for FY 1986, $56,100,000,000 for FY 1987, and $61,300,000,000 for FY 1988. Sets the revised amount for FICA revenues for old-age, survivors and disability insurance within the recommended levels of Federal revenues at $200,700,000,000 for FY 1986, $216,850,000,000 for FY 1987, and $248,250,000,000 for FY 1988. Sets the revised levels of total new budget authority at $1,062,900,000,000 for FY 1986, $1,134,300,000,000 for FY 1987, and $1,212,800,000,000 for FY 1988. States that the revised levels of total budget outlays are $967,250,000,000 for FY 1986, $1,028,500,000,000 for FY 1987, and $1,080,000,000,000 for FY 1988. Sets the revised amounts of the deficits in the budget which are appropriate in light of economic conditions and all other relevant factors at $173,150,000,000 for FY 1986, $162,500,000,000 for FY 1987, and $124,400,000,000 for FY 1988. Sets forth the revised levels of budget authority and budget outlays for each major functional category. Requires certain House committees to report changes in laws within their jurisdictions sufficient to achieve savings of specified amounts of budget authority and outlays in FY 1986. Specifies changes in budget authority and outlays under laws within such committees' jurisdictions which the Congress finds necessary in FY 1987 and 1988 to achieve budget levels under this resolution. Requires such committees to submit to their recommendations to the House Budget Committee not later than 30 days after final action on this resolution. Requires the Budget Committee to report a reconciliation bill carrying out such recommendations without any substantive revision. Declares that, effective October 1, 1985, this concurrent resolution shall be deemed to be the second concurrent budget resolution for FY 1986 required to be reported under the Congressional Budget Act of 1974. Permits the enrollment of any bill or resolution providing new discretionary budget authority or new spending authority for FY 1986 if it would not cause the appropriate allocation for a committee to be exceeded. Makes exceptions for legislation that would cause budget authority and outlays for certain off-budget spending programs to be included in the unified budget. Terminates such provisions when the Congress completes action on a subsequent concurrent resolution on the budget for FY 1986. Expresses the sense of the Congress that: (1) the Office of Management and Budget should release and apportion to the States the amount appropriated for the Special Supplemental Food Program (WIC program) for FY 1985; (2) the Administration should call for the convening of an international monetary conference this year for the purpose of exploring options to stabilize currency exchange rates, reduce interest rates, promote maximum domestic and world economic growth, and help assure domestic price stability; and (3) budget functional totals should be reduced to reflect a limitation on the amount of social security benefits paid to illegal and nonresident aliens. Expresses the sense of the House of Representatives that tax reform should be adopted as soon as possible incorporating the following objectives; (1) responsiveness to market conditions; (2) simplicity of structure and lower marginal tax rates; (3) fair and equitable distribution of the tax burden; (4) a broader tax base; and (5) increased incentives for work, saving, and investment. Expresses the sense of the House of Representatives that: (1) each of its standing committees should review, on a continuing basis and when considering public bills or resolutions, those portions of the President's Private Sector Survey on Cost Control (Grace Commission report) pertaining to such committee's jurisdiction; and (2) each committee report on a public bill or resolution should contain an identification of each recommendation of the Survey to be implemented and the resulting estimated program cost savings or revenue enhancement and a statement setting forth the disposition of each recommendation pertaining to such bill or resolution.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 20 May 1985

   Reported

   House Committee on The Budget Reported an Original Measure. Report No: 99-133 (Part I).

   Source: Committee

2. 20 May 1985

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 May 1985

   Introduced

   Referred to House Committee on Rules Sequentially, for a Period Ending not Later than May 21, 85.

   Source: IntroReferral

4. 20 May 1985

   Reported

   House Committee on The Budget Reported an Original Measure. Report No: 99-133 (Part I).

   Source: Committee

5. 21 May 1985

   Reported

   Rules Committee Resolution H.Res.177 Reported to House.

   Source: Floor

6. 21 May 1985

   Calendars

   Placed on Union Calendar No: 88.

   Source: Calendars

7. 21 May 1985

   Reported

   Reported to House by House Committee on Rules. Report No: 99-133 (Part II).

   Source: Committee

8. 21 May 1985

   Reported

   Reported to House by House Committee on Rules. Report No: 99-133 (Part II).

   Source: Committee

9. 21 May 1985

   Floor

   Committee on Rules Granted a Modified Open Rule Providing Four Hours of General Debate; Making in Order Certain Substitutes Printed in the Congressional Record of May 21, 1985; Waiving Certain Points of Order.

   Source: Floor

10. 22 May 1985

    Passed

    Rule Passed House.

    Source: Floor

11. 22 May 1985

    Floor

    Committee on Rules Granted a Modified Open Rule Providing Four Hours of General Debate; Making in Order Certain Substitutes Printed in the Congressional Record of May 21, 1985; Waiving Certain Points of Order.

    Source: Floor

12. 22 May 1985

    Floor

    Called up by House by Rule.

    Source: Floor

13. 23 May 1985

    Floor

    Laid on Table in House by Voice Vote.

    Source: Floor

14. 23 May 1985

    Vote

    Resolution Agreed to in House (Amended) by Yea-Nay Vote: 258 - 170 (Record Vote No: 131).

    Source: Floor

15. 23 May 1985

    Vote

    Passed/agreed to in House: Resolution Agreed to in House (Amended) by Yea-Nay Vote: 258 - 170 (Record Vote No: 131).

    Source: Floor

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Passed House amended

  summary · EN · 23 May 1985

  Open at official source

• Introduced in House

  summary · EN · 20 May 1985

  Open at official source

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Sponsors

• Rep. Gray, William H., III [D-PA-2] · D · Sponsor
• · hsru00 · Standing
• · hsbu00 · Standing

Related records

• related to ← A resolution providing for the consideration of the concurrent resolution (H.Con.Res. 152) revising the congressional budget for the United States Government for the fiscal year 1986 and setting forth the congressional budget for the United States Government for the fiscal years 1986, 1987, and 1988.
• related to ← An original concurrent resolution setting forth the congressional budget for the United States Government for the fiscal years 1986, 1987, and 1988, and revising the congressional budget for the United States Government for the fiscal year 1985.
• amends ← A substitute amendment providing a freeze at 1985 levels plus additional spending reductions. It provides for a 2 percent COLA for Social Security recipients as originally proposed by the Senate Budget Committee. There are no new taxes required.
• amends ← A substitute amendment providing across-the-board freeze for all programs (including defense) and further reductions in 75 specified programs and makes no recommendation on Social Security COLA's.
• amends ← A substitute amendment providing a freeze in defense spending at FY'85 level, plus additional cuts in next two years through elimination of several major weapons systems. It provides a full COLA for Social Security and other Federal retirement programs, calls for cuts in certain nondefense programs with increases in others particularly in the area of job creation. It includes substantial increases in Federal revenues, including a 25 percent minimum tax on corporations, repeal of the investment tax credit and accelerated cost recovery depreciation system, higher income taxes for wealthy individuals, and uses part of resulting revenue gain to provide tax relief for low- and moderate- income people.
• amends ← A substitute amendment providing a one year freeze in non-defense discretionary programs and additional programs reductions, terminations and reforms in selected programs, including a one year freeze in defense spending, with an allowance for 3 percent growth in the out years, and full protection of all COLA's including social security. There are no tax increases included.
• amends ← An amendment providing a one year Cost of Living Adjustment (COLA) freeze for social security, federal retirees and veterans, with 20 percent of the savings from the COLA's freezes used to help social security beneficiaries at the poverty level. It calls for $12 billion in additional revenues, not to come from personal income taxes.
• amends ← An amendment expressing sense of Congress that minimum tax legislation should be enacted, with the revenues raised to be used either for deficit reduction and/or tax rate reduction.