A concurrent resolution setting forth the congressional budget for the United States Government for the fiscal years 1989, 1990, and 1991.

Summary

Sets forth the concurrent resolution on the budget for FY 1989 and the appropriate budgetary levels for FY 1990 and 1991. Sets forth levels and amounts of Federal revenues, new budget authority, budget outlays, and deficits for FY 1989 through 1991 for purposes of determining whether the maximum deficit amounts set forth in the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) have been exceeded. Recommends levels of Federal revenues of $706,100,000,000 for FY 1989, $760,800,000,000 for FY 1990, and $817,200,000,000 for FY 1991. Sets the amount by which the aggregate levels of Federal revenues should be increased at $0 for FY 1989, $0 for FY 1990, and $0 for FY 1991. Designates the following amounts of Federal revenues for Federal Insurance Contributions Act revenues: (1) $63,400,000,000 for FY 1989; (2) $68,200,000,000 for FY 1990; and (3) $73,400,000,000 for FY 1991. Sets the appropriate levels of total new budget authority at $972,500,000,000 for FY 1989, $1,020,300,000,000 for FY 1990, and $1,079,000,000,000 for FY 1991. States that the appropriate levels of total budget outlays are $886,700,000,000 for FY 1989, $932,900,000,000 for FY 1990, and $979,000,000,000 for FY 1991. Sets the amount of the deficit at $180,600,000,000 for FY 1989, $172,100,000,000 for FY 1990, and $161,800,000,000 for FY 1991. Sets the appropriate levels of the public debt at $2,825,400,000,000 for FY 1989, $3,065,300,000,000 for FY 1990, and $3,289,500,000,000 for FY 1991. Sets forth the appropriate levels of total Federal credit activity as follows: (1) $28,300,000,000 for new direct loan obligations, $110,600,000,000 for new primary loan guarantee commitments, and $0 for new secondary loan guarantee commitments for FY 1989; (2) $27,100,000,000 for new direct loan obligations, $122,900,000,000 for new primary loan guarantee commitments, and $0 for new secondary loan guarantee commitments for FY 1990; and (3) $26,700,000,000 for new direct loan obligations, $132,100,000,000 for new primary loan guarantee commitments, and $0 for new secondary loan guarantee commitments for FY 1991. Sets forth the levels of budget authority, budget outlays, new direct loan obligations, new primary loan guarantee commitments, and new secondary loan guarantee commitments for each major functional category for FY 1989 through 1991. Requires the following Senate and House Committees to report to the Committees on the Budget of their respective Houses changes in laws within their respective jurisdictions which are sufficient to increase contributions by a specified amount in FY 1989: (1) Senate Committee on Agriculture, Nutrition, and Forestry; (2) Senate Committee on Banking, Housing, and Urban Affairs; (3) Senate Committee on Labor and Human Resources; (4) Senate Committees on Small Business; (5) House Committee on Agriculture; (6) House Committee on Banking, Finance, and Urban Affairs; (7) House Committee on Education and Labor; and (8) House Committee on Small Business. Directs the Budget Committees to report to the House and Senate reconciliation legislation implementing such changes. Expresses the sense of the Congress that: (1) the Government should sell assets to nongovernment buyers; and (2) the amounts realized from such sales will not recur on an annual basis and do not reduce the demand for credit. Calls for deficit-neutral legislation on the welfare reform and catastrophic health insurance initiatives. Expresses the sense of the Congress that antinarcotics activities are vital to the Nation's future and should be among the top funding priorities in the FY 1989 budget.

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Documents

2 official files

• Indefinitely postponed in Senate

  summary · EN · 6 June 1988

  Open at official source

• Introduced in Senate

  summary · EN · 31 March 1988

  Open at official source

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