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United States · Resolution · HCONRES

H.Con.Res. 67 (104th)

Setting forth the congressional budget for the United States Government for fiscal years, 1996, 1997, 1998, 1999, 2000, 2001, and 2002.

openUnited States· United States Congress· EN

Introduced

15 May 1995

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Status

Message on Senate action sent to the House.

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Source updated

7 April 2025

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Summary

Establishes the budget for FY 1996 and sets forth appropriate budget levels for FY 1997 through 2002. Sets forth recommended budgetary levels for Federal revenues, total new budget authority, total budget outlays, deficits, public debt, and credit activity. (Sec. 3) Establishes the appropriate levels of new budget authority, budget outlays, new direct loan obligations, new primary loan guarantee commitments, and new secondary loan guarantee commitments for FY 1996 through 2002 for each major functional category. (Sec. 4) Requires the House Budget Committee, after receiving recommendations required from House committees, to report to the House a reconciliation bill carrying out such recommendations without any substantive revision. (Sec. 5) Expresses the sense of the Congress that the asset sale scoring prohibition should be repealed and consideration given to replacing it with a methodology that takes into account the long-term budgetary impact of the sale. (Sec. 6) Requires, for purposes of points of order under the Congressional Budget Act of 1974 and concurrent resolutions on the budget, that discretionary spending limits under that Act (and those limits as cumulatively adjusted) for the current fiscal year and each outyear, allocations to the Committee on Appropriations under that Act, and appropriate budgetary aggregates in the most recently agreed to concurrent resolution on the budget be adjusted to reflect the amounts of additional budget authority or additional outlays reported by the Committees on Appropriations in appropriations Acts for the Internal Revenue Service compliance initiative activities in any fiscal year, but not to exceed specified amounts in new budget authority and in outlays. Provides for revised limits, allocations, and aggregates as well as the reporting of revised suballocations. Requires the Internal Revenue Service and the Department of the Treasury to adhere to the principles of privacy and protection of taxpayer rights. (Sec. 7) Expresses the sense of the Congress that: (1) the baseline budgeting should be replaced with a form of budgeting that requires full justification and analysis of budget proposals and maximizes congressional accounting for public spending; (2) the Congress should study alternative approaches to budgeting emergencies; (3) the Student Loan Marketing Association should be restructured as a private corporation; (4) the Congress should balance the budget and a surplus should be created which can be used to pay off the Federal debt; (5) the Gephardt rule should be repealed and the debt limit set at a level that assures a balanced budget by 2002 or sooner; (6) the cost of a direct loan should be the net present value, at the time the direct loan is disbursed, of specified cash flows for the estimated life of the loan; and (7) a high-level commission should be convened to study the problems associated with the Federal retirement system and make recommendations that will ensure the long-term solvency of the military and civil service retirement funds.

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