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United States · Resolution · SRES

S.Res. 329 (100th)

A resolution to urge significant deficit reduction by enacting at a minimum an across-the-board freeze of all Federal spending and existing Federal tax rates.

referredUnited States· United States Congress· EN

Introduced

20 November 1987

Last action

20 November 1987 · Introduced

Status

Referred to the Committee on Governmental Affairs.

Sponsors

Sen. Kassebaum, Nancy Landon [R-KS], Sen. Evans, Daniel J. [R-WA], Sen. Boren, David L. [D-OK], Sen. Biden, Joseph R., Jr. [D-DE], Sen. McClure, James A. [R-ID], Sen. Pryor, David H. [D-AR], Sen. Baucus, Max [D-MT], Sen. Daschle, Thomas A. [D-SD], Sen. Stevens, Ted [R-AK], Sen. Weicker, Lowell P., Jr. [R-CT], Sen. Simpson, Alan K. [R-WY], Sen. Stafford, Robert T. [R-VT], Sen. Dodd, Christopher J. [D-CT], Sen. Glenn, John H., Jr. [D-OH], Sen. Exon, J. James [D-NE], Sen. Hollings, Ernest F. [D-SC], Sen. Bumpers, Dale [D-AR], Sen. Conrad, Kent [D-ND], Sen. Dixon, Alan J. [D-IL], Sen. Nunn, Sam [D-GA], Sen. Breaux, John B. [D-LA], Sen. Boschwitz, Rudy [R-MN], Sen. Fowler, Wyche, Jr. [D-GA], Sen. Levin, Carl [D-MI], Sen. Wirth, Timothy [D-CO], Sen. D'Amato, Alfonse [R-NY]

Subjects

Discovery layer

Source updated

14 January 2025

Official sourceView documentsShare

Summary

Recommends that a one-year across the board freeze of all Federal spending and existing Federal tax rates be adopted at the earliest possible date to help restore national and international confidence in the U.S. economy. Urges that such freeze encompass: (1) all appropriated accounts for defense and nondefense discretionary spending with spending maintained at FY 1987 budget authority levels; (2) inflation adjustments for all Federal entitlement beneficiaries limited to two percent, except for supplemental security income; and (3) existing Federal tax rates for individuals and corporations. Provides for the automatic implementation of inflation adjustments and tax rate reductions immediately following the one-year freeze. Urges that such a one-year freeze be considered as the minimum acceptable step toward deficit reduction and that asset sales, improved tax compliance, and other deficit reduction measures be seriously considered.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 20 November 1987

    Introduced

    Referred to the Committee on Governmental Affairs.

    Source: IntroReferral

  2. 20 November 1987

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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