A concurrent resolution setting forth the congressional budget for the United States Government for the fiscal years 1981, 1982, and 1983 and revising the congressional budget for the United States Government for the fiscal year 1980.

Summary

Sets forth the first concurrent resolution on the budget for fiscal year 1981. Recommends a level of Federal revenues in fiscal year 1981 of $613,800,000,000 with an increase in aggregate revenues of $22,300,000,000. Provides for a targeted tax reduction of $10,300,000,000 (an amount equal to estimated receipts from oil import fees). States that the appropriate level of total budget authority for fiscal year 1981 is $694,600,000,000 and that the appropriate level of total budget outlays is $611,800,000,000. Sets forth a budget surplus of $2,000,000,000. Recommends a level of public debt at $926,800,000,000 with an increase of $30,100,000,000 in the statutory limit on the public debt. States that the appropriate level of total gross obligations for the principal amount of direct loans is $60,600,000,000. Sets the appropriate level of total commitments to guarantee loan principal at $79,600,000,000. Sets forth recommended levels of new budget authority and outlays under each major functional category of the budget for fiscal year 1981. Directs the following congressional committees to effectuate specified reductions in budget authority and outlays for fiscal year 1981 contained in legislation within their jurisdiction and to report recommendations for accomplishing such reductions by June 15, 1980: (1) the House Committee on Agriculture and the Senate Committee on Agriculture, Nutrition, and Forestry; (2) the House and Senate Committees on Armed Services; (3) the House Committee on Education and Labor; (4) the House Committee on Interstate and Foreign Commerce; (5) the House Committee on Post Office and Civil Service and the Senate Committee on Governmental Affairs; (6) the House Committee on Public Works and Transportation and the Senate Committee on Environment and Public Works; (7) the House and Senate Committees on Veterans' Affairs; (8) the House Committee on Ways and Means; (9) the Senate Committee on Commerce, Science, and Transportation; (10) the Senate Committee on Finance; and (11) the Senate Committee on Labor and Human Resources. Directs the House Committee on Ways and Means and the Senate Committee on Finance to increase revenues for fiscal year 1981 by $22,200,000,000 and to report recommendations for accomplishing such an increase by June 15, 1980. Sets forth the congressional budget for fiscal years 1982 and 1983. Recommends aggregate levels of Federal revenues of $694,800,000,000 in fiscal year 1982 and $804,100,000,000 in fiscal year 1983 with an increase in Federal revenues of $300,000,000 in 1982. States that the appropriate level of new budget authority for fiscal year 1982 is $767,300,000,000 and $864,500,000,000 for fiscal year 1983. Sets the appropriate level of total budget outlays at $683,100,000,000 in fiscal year 1982 and $775,400,000,000 in fiscal year 1983. Recommends budget surpluses of $11,700,000,000 and $28,700,000,000 in fiscal years 1982 and 1983 respectively. Sets the appropriate level of the public debt at $954,200,000,000 and $970,600,000,000 in fiscal years 1982 and 1983. Sets forth the corresponding levels of new budget authority and outlays for each major functional category of the budget in fiscal years 1981 and 1982. Revises the congressional budget for fiscal year 1980 (S. Con. Res. 53) by: (1) increasing the recommended level of Federal revenues to $528,800,000,000; (2) raising the increase in the aggregate level of revenues to $4,300,000,000; (3) increasing the appropriate level of total new budget authority to $657,200,000,000; (4) increasing the appropriate level of total budget outlays to $567,000,000,000; (5) increasing the budget deficit to $38,200,000,000; (6) increasing the level of the public debt to $896,700,000,000; (7) raising the statutory limit on the public debt to $17,700,000,000; and (8) revising the corresponding levels of new budget authority and outlays for each major functional category of the budget. Urges the President to review the current inflation measure for indexing Federal programs and to submit recommendations to the Congress on the most appropriate cost-of-living measure.

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Documents

5 official files

• House receded and concurred with amendment

  summary · EN · 12 June 1980

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• Conference report filed in House

  summary · EN · 23 May 1980

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• Passed Senate amended

  summary · EN · 12 May 1980

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• Passed House amended

  summary · EN · 7 May 1980

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• Introduced in House

  summary · EN · 26 March 1980

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