A concurrent resolution revising the congressional budget for the United States Government for the fiscal year 1983 and setting forth the congressional budget for the United States Government for the fiscal years 1984, 1985, and 1986.

Summary

Revises the concurrent resolution on the budget for FY 1983 and sets forth the first concurrent resolution on the budget for 1984 and the appropriate budgetary levels for FY 1985 and 1986. Recommends levels of Federal revenues of $606,200,000,000 for FY 1983, $689,100,000,000 for FY 1984, $765,900,000,000 for FY 1985, and $831,500,000,000 for FY 1986. Sets the amount by which the aggregate levels of Federal revenues should be changed at - $100,000,000 for FY 1983, $35,200,000,000 for FY 1984, $48,100,000,000 for FY 1985, and $58,000,000,000 for FY 1986. Sets the appropriate levels of total new budget authority at $886,200,000,000 for FY 1983, $936,550,000,000 for FY 1984, $998,650,000,000 for FY 1985, and $1,058,400,000,000 for FY 1986. States that the appropriate levels of total budget outlays are $814,700,000,000 for FY 1983, $863,550,000,000 for FY 1984, $912,600,000,000 for FY 1985, and $967,550,000,000 for FY 1986. Sets the amount of deficits in the budget which are appropriate in light of economic conditions and all other relevant factors at $208,500,000,000 for FY 1983, $174,450,000,000 for FY 1984, $146,700,000,000 for FY 1985, and $136,050,000,000 for FY 1986. States that the appropriate levels of public debt are $1,389,200,000,000 for FY 1983, $1,607,450,000,000 for FY 1984, $1,804,000,000,000 for FY 1985, and $1,993,750,000,000 for FY 1986. Sets the amounts by which the temporary statutory limits on such debt should be accordingly increased at $99,000,000,000 for FY 1983, $218,250,000,000 for FY 1984, $196,550,000,000 for FY 1985, and $189,750,000,000 for FY 1986. Sets forth the appropriate levels of total Federal credit activity as follows: (1) $52,550,000,000 for new direct loan obligations, $94,550,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1983; (2) $49,400,000,000 for new direct loan obligations, $96,850,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1984; (3) $47,450,000,000 for new direct loan obligations, $103,950,000,000 for new primary guarantee commitments, $68,250,000,000 for new secondary loan guarantee commitment for FY 1985; and (4) 48,000,000,000 for new direct loan obligations, 107,650,000,000 for new primary loan guarantee commitments, and 68,250,000,000 for new secondary loan guarantee commitments. Sets forth the levels of new budget authority and budget outlays and the primary and secondary loan guarantee commitments for each major functional category for FY 1983 through 1986. Requires specified House committees to report changes in laws within their respective jurisdictions sufficient to decrease budget authority and outlays in FY 1984 through 1986 in amounts consistent with reductions in entitlement programs assumed in this resolution and to increase revenues in FY 1985 and 1986 in amounts consistent with the assumptions in this resolution. Sets forth the dates by which such committees must submit their recommendations to the House Committee on the Budget. Requires the Budget Committee to then report to the House a reconciliation bill incorporating all such recommendations without substantive revision. Prohibits any bill or resolution providing new discretionary budget authority or spending authority for FY 1984 which exceeds the appropriate allocation for such new discretionary budget authority or new spending authority from being enrolled until after Congress has completed action on the second concurrent resolution on the budget, or until October 1, 1983, whichever occurs first. Declares that if Congress has not completed action by October 1, 1983, on the second concurrent resolution on the budget for FY 1984, then this concurrent resolution shall be deemed to be the concurrent resolution required under the Budget Act. Permits the Committee on the Budget, if action has not been completed by such date, to report to the House a House or concurrent resolution which only revises the levels of total budget outlays, budget authority, and revenues for technical and economic assumptions. Declares that such provisions shall not apply to bills, resolutions, amendments, or conference reports within the jurisdiction of a committee if the enactment of such a measure would not cause the appropriate allocation of new discretionary budget or new spending authority for FY 1984 to be exceeded. Declares that it is the sense of the Congress that monetary policy and the economic assumptions in the budget resolution shall be consistent with each other. Requires the Board of Governors of the Federal Reserve System to report to Congress on the objectives of the Board and the Federal Open Market Committee with respect to the growth or diminution of gross national product in current and constant dollars, inflation, and unemployment for the current and three following calendar years. Requires the Board, in the same report, to explain the differences, if any, between these objectives and the economic assumptions of the most recent President's budget submission, the most recent projections of the Congressional Budget Office, and the economic assumptions of the most recent congressional budget resolution. Declares that it is the sense of the Congress that the House Committee on Armed Services should initiate a thorough review of military retirement programs which constitute a major sector of the defense budget and should recommend changes which would result in reduced spending under these programs.

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Documents

3 official files

• Conference report filed in Senate

  summary · EN · 20 June 1983

  Open at official source

• Passed Senate amended

  summary · EN · 19 May 1983

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• Introduced in House

  summary · EN · 21 March 1983

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