Summary: H.Con.Res.280 — 98th Congress (1983-1984)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Conference report filed in House (09/25/1984)

(Conference report filed in House, H. Rept. 98-1079)

Revises the concurrent resolution on the budget for FY 1984 and sets forth the first concurrent resolution on the budget for FY 1985 and the appropriate budgetary levels for FY 1986 and 1987.

Recommends levels of Federal revenues of $672,900,000,000 for FY 1984, $750,900,000,000 for FY 1985, $810,800,000,000 for FY 1986, and $881,000,000,000 for FY 1987. Sets the amount by which the aggregate levels of Federal revenues should be changed at $0.00 for FY 1984, -$300,000,000 for FY 1985, -$100,000,000 for FY 1986, and -$100,000,000 for FY 1987.

Sets the amounts for Federal Insurance Contributions Act revenues for hospital insurance within the recommended levels of Federal revenues at $40,000,000,000 for FY 1984, $45,400,000,000 for FY 1985, $52,000,000,000 for FY 1986, and $57,200,000,000 for FY 1987.

Sets the amounts for Federal Insurance Contributions Act revenues for old-age, survivors, and disability insurance within the recommended levels of Federal revenues at $166,200,000,000 for FY 1984, $188,700,000,000 for FY 1985, $204,500,000,000 for FY 1986, and $221,100,000,000 for FY 1987.

Sets the appropriate levels of total new budget authority at $918,900,000,000 for FY 1984, $1,012,350,000,000 for FY 1985, $1,103,800,000,000 for FY 1986, and $1,200,250,000,000 for FY 1987.

States that the appropriate levels of total budget outlays are $845,600,000,000 for FY 1984, $932,050,000,000 for FY 1985, $1,003,550,000,000 for FY 1986, and $1,088,600,000,000 for FY 1987.

Sets the amount of deficits in the budget which are appropriate in the light of economic conditions and all other relevant factors at $172,700,000,000 for FY 1984, $181,150,000,000 for FY 1985, $192,750,000,000 for FY 1986, and $207,600,000,000 for FY 1987.

States that the appropriate levels of public debt are $1,575,700,000,000 for FY 1984, $1,823,800,000,000 for FY 1985, $2,090,000,000,000 for FY 1986, and $2,377,600,000,000 for FY 1987. Sets the amounts by which the temporary statutory limits on such debt should be accordingly increased at $2,700,000,000 for FY 1984, $248,100,000,000 for FY 1985, $266,200,000,000 for FY 1986, and $287,600,000,000 for FY 1987.

Sets forth the appropriate levels of total Federal credit activity as follows: (1) $37,600,000,000 for new direct loan obligations, $105,550,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1984; (2) $38,100,000,000 for new direct loan obligations, $112,100,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1985; (3) $40,900,000,000 for new direct loan obligations, $117,150,000,000 for new primary loan guarantee commitments, and $69,950,000,000 for new secondary loan guarantee commitments for FY 1986; and (4) $42,600,000,000 for new direct loan obligations, $123,300,000,000 for new primary loan guarantee commitments, and $71,700,000,000 for new secondary loan guarantee commitments for FY 1987.

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 1984 through 1987.

Declares that for FY 1985, 1986, and 1987, any revenues raised by legislation enacted on or after March 15, 1984, shall only be used to reduce the Federal budget deficits for such fiscal years except to the extent that such legislation earmarks all or any part of such revenues for specific spending programs.

Makes increased funds appropriate for FY 1985, 1986, and 1987 if authorizations are enacted for specified programs and if sufficient outlay reductions or new revenues are also enacted to ensure that the legislation is deficit neutral.

Declares that it is the sense of the Congress that the executive branch shall achieve at least the $2,000,000,000 in savings over FY 1985 through 1987 which have been recommended by the President's Private Sector Survey on Cost Control and which can be achieved through administrative action within that branch of Government. Express the sense of Congress that the President should report each year, along with the annual budget submission, on the progress made in achieving such savings and that the budget submission for FY 1986 should contain information regarding such administrative savings as have already been achieved.

Declares that, effective October 1, 1984, this concurrent resolution shall be deemed to be the second concurrent budget resolution for FY 1985 required to be reported under the Congressional Budget Act of 1974.

Permits the enrollment of any bill or resolution providing new discretionary budget authority or new spending authority for FY 1985 if it would not cause the appropriate allocation for a committee to be exceeded.

Terminates such provisions when Congress completes action on a subsequent concurrent resolution on the budget for FY 1985.

Prohibits the consideration of any measure that contains new budget authority, new entitlement authority, or new credit activity for FY 1985 within the jurisdiction of a committee until such committee makes the allocations or subdivisions required by the Congressional Budget Act.

Declares that such prohibition shall not apply until 21 days of continuous session after Congress completes action on this concurrent resolution.