An original concurrent resolution setting forth the Congressional Budget for the United States Government for the fiscal years 1987, 1988, and 1989.

Summary

Sets forth the concurrent resolution on the budget for FY 1987 and the appropriate budgetary levels for FY 1988 and 1989. Recommends levels of Federal revenues of $647,700,000,000 for FY 1987, $703,900,000,000 for FY 1988, and $754,400,000,000 for FY 1989. Sets the amounts by which the aggregate levels of Federal revenues should be increased at $18,700,000,000 for FY 1987, $26,800,000,000 for FY 1988, and $28,800,000,000 for FY 1989. Sets the amounts for Federal Insurance Contributions Act revenues for hospital insurance within the recommended levels of Federal revenues at $55,500,000,000 for FY 1987, $59,800,000,000 for FY 1988, and $63,800,000,000 for FY 1989. Sets the appropriate levels of total new budget authority at $882,900,000,000 for FY 1987, $927,000,000,000 for FY 1988, and $956,400,000,000 for FY 1989. States that the appropriate levels of total budget outlays are $809,000,000,000 for FY 1987, $847,300,000,000 for FY 1988, and $869,200,000,000 for FY 1989. Sets the amounts of the deficits in the budget which are appropriate in light of economic conditions and all other relevant factors at $161,300,000,000 for FY 1987, $143,400,000,000 for FY 1988, and $114,800,000,000 for FY 1989. States that appropriate levels of the public debt are $2,323,100,000,000 for FY 1987, $2,523,000,000,000 for FY 1988, and $2,697,700,000,000 for FY 1989 and the amounts by which the statutory limits on such debt should be accordingly increased at $216,900,000,000 for FY 1987, $199,900,000,000 for FY 1988, and $174,700,000,000 for FY 1989. Sets forth the appropriate levels of total Federal credit activity as follows: (1) $34,700,000,000 for new direct loan obligations, $86,400,000,000 for new primary loan guarantee commitments, and $55,200,000,000 for new secondary loan guarantee commitments for FY 1987; (2) $32,300,000,000 for new direct loan obligations, $88,500,000,000 for new primary loan guarantee commitments, and $55,200,000,000 for new secondary loan guarantee commitments for FY 1988; and (3) $30,200,000,000 for new direct loan obligations, $89,000,000,000 for new primary loan guarantee commitments, and $55,200,000,000 for new secondary loan guarantee commitments for FY 1989. Sets forth the levels of Federal revenues, total new budget authority, and total budget outlays, and the amounts by which the total budget outlays exceed the corresponding Federal revenues, for FY 1987 through 1989 for purposes of determining whether the maximum deficit amount for a fiscal year has been exceeded in accordance with the Congressional Budget and Impoundment Control Act of 1974 as amended by the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Provides that such levels and amounts shall be considered to be mathematically consistent with the other amounts and levels set forth in this concurrent resolution. 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 1987 through 1989. Requires certain congressional committees to report changes in laws within their jurisdictions sufficient to reduce budget authority and outlays, increase contributions, increase revenues, reduce direct loan obligations, or reduce primary loan guarantee commitments by certain amounts, as specified, in FY 1987 through 1989. Directs such committees, by May 15, 1986, to submit their recommendations to the Committees on the Budget of their respective Houses. Directs the Budget Committees to report a reconciliation bill or resolution carrying out all such recommendations without any substantive revision. Requires the allocation of budget authority and outlays to the Senate Committees on Appropriations and Finance, in addition to the amounts provided for in this Act, upon the enactment of legislation authorizing, and increasing revenues for, up to a specified amount for funding an extension of General Revenue Sharing in FY 1987.

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Documents

5 official files

• House receded and concurred with amendment

  summary · EN · 26 June 1986

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• Conference report filed in House

  summary · EN · 26 June 1986

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• Passed House amended

  summary · EN · 15 May 1986

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• Passed Senate amended

  summary · EN · 2 May 1986

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• Introduced in Senate

  summary · EN · 24 March 1986

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