Summary: H.Con.Res.91 — 98th Congress (1983-1984)All Information (Except Text)

Bill summaries are authored by CRS.

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Conference report filed in Senate (06/20/1983)

(Conference report filed in Senate, S. Rept. 98-155)

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 $604,300,000,000 for FY 1983, $679,600,000,000 for FY 1984, $750,500,000,000 for FY 1985, and $835,800,000,000 for FY 1986. Sets the amount by which the aggregate levels of Federal revenues should be changed at - $100,000,000 for FY 1983, $12,000,000,000 for FY 1984, $15,000,000,000, for FY 1985, and $46,000,000,000 for FY 1986.

Sets the amounts for Federal Insurance Contributions Act revenues for hospital insurance within the recommended levels of Federal revenues at $35,900,000,000 for FY 1983, $40,000,000,000 for FY 1984, $44,700,000,000 for FY 1985, and $51,400,000,000 for FY 1986. States that the amounts for Federal Insurance Contributions Act revenues and other revenues for old age, survivors, and disability insurance within the recommended levels of Federal revenues are $148,800,000,000 for FY 1983, $167,900,000,000 for FY 1984, $187,300,000,000 for FY 1985, and $203,300,000,000 for FY 1986.

Sets the appropriate levels of total new budget authority, including specified reserved amounts, at $883,360,000,000 for FY 1983, $928,725,000,000 for FY 1984, $996,750,000,000 for FY 1985, and $1,059,300,000,000 for FY 1986.

Sets the appropriate levels of total new budget authority, excluding specified reserved amounts, at $877,200,000,000 for FY 1983, $919,500,000,000 for FY 1984, $990,500,000,000 for FY 1985, and $1,054,600,000,000 for FY 1986.

States that the appropriate levels of total budget outlays, including specified reserved amounts, are $812,850,000,000 for FY 1983, $858,925,000,000 for FY 1984, $911,600,000,000 for FY 1985, and $966,635,000,000 for FY 1986.

States that the appropriate levels of total budget outlays, excluding specified reserved amounts, are $807,400,000,000 for FY 1983, $849,500,000,000 for FY 1984, $906,750,000,000 for FY 1985, and $962,950,000,000 for FY 1986.

Sets the amount of deficits in the budget which are appropriate in light of economic conditions and all other relevant factors, excluding specified reserved amounts, at $203,100,000,000 for FY 1983, $169,900,000,000 for FY 1984, $156,250,000,000 for FY 1985 and $127,150,000,000 for FY 1986.

Sets the amount of deficits in the budget which are appropriate in light of economic conditions and all other relevant factors, including specified reserved amounts, at $208,550,000,000 for FY 1983, $179,325,000,000 for FY 1984, $161,100,000,000 for FY 1985, and $130,835,000,000 for FY 1986.

States that the appropriate levels of public debt are $1,389,000,000,000 for FY 1983, $1,614,600,000,000 for FY 1984, $1,830,100,000,000 for FY 1985 and $2,022,800,000,000, for FY 1986. Sets the amounts by which the statutory limits on such debt should be accordingly increased at $246,100,000,000 for FY 1983, $225,600,000,000 for FY 1984, $215,500,000,000 for FY 1985, and $192,700,000,000 for FY 1986.

Sets forth the appropriate levels of total Federal credit activity, including specified reserved amounts, as follows: (1) $54,250,000,000 for new direct loan obligations, $99,600,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1983; (2) $47,900,000,000 for new direct loan obligations, $101,700,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1984; (3) $47,800,000,000 for new direct loan obligations, $106,600,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for 1985; and (4) $47,750,000,000 for new direct loan obligations, $106,800,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments, for FY 1986.

Sets forth the appropriate levels of total Federal credit activity, excluding specified reserved amounts, as follows: (1) $52,700,000,000 for new direct loan obligations $99,600,000,000 for new primary loan guarantee commitments and $68,250,000,000 for new secondary loan guarantee commitments for FY 1983; (2) $46,700,000,000 for new direct loan obligations, $100,100,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1984; (3) $46,700,000,000 for new direct loan obligations, $103,050,000,000 for new primary loan guarantee commitments and $68,250,000,000 for new secondary loan guarantee commitments for FY 1985; and (4) $47,750,000,000 for new direct loan obligations, $106,800,000,000 for new primary loan guarantee commitments, and $68,250,000,000 for new secondary loan guarantee commitments for FY 1986.

Sets forth the levels of new budget authority and budget outlays and the appropriate levels of new direct loan obligations and new loan guarantee commitments for each major functional category for FY 1983 through 1986.

Establishes a reserve for subsequent allocations to committees consisting of specified amounts of budget authority and outlays for 1983 and 1984.

Requires specified committees of the House and the Senate to report changes in laws within their respective jurisdictions sufficient to achieve savings in FY 1984 through FY 1986.

Provides that spending bills exceeding the appropriate allocation under the Budget Act shall not be enrolled until the adoption of the Second Budget Resolution.

Converts this concurrent resolution on the budget into the Second Concurrent Resolution on the Budget on October 1, 1983, if Congress does not otherwise adopt a resolution by that date.

Requests the House and Senate Banking Committees to report to their respective bodies, no later than June 30, 1983, a resolution expressing the sense of the Congress as to the coordination of the Federal Reserve's monetary policy with the fiscal policy reflected in this Budget.

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 and should recommend changes which would result in reduced spending under these programs.

Declares that it is the sense of the Congress that the President and the Congress, through the appropriations process, should limit the on-budget new direct loan obligations, the off-budget new direct loan obligations and new primary and secondary loan guarantee commitments to specified amounts for FY 1983 and FY 1984.

Declares that it is the sense of Congress that the President and the Congress should limit to specified amounts for FY 1983 and FY 1984 total Federal Financing Bank origination of direct loans guaranteed by other Federal agencies and purchases of certificates of beneficial ownership from Federal agencies. Declares that direct borrowing transactions of Federal agencies should be, to the maximum extent possible, restricted to the Federal Financing Bank.

Declares that it is the sense of Congress that the budgets of Federal agencies initiating Federal Financing Bank purchases of certificates of beneficial ownership and originations of guaranteed loans should include the budget authority and outlays resulting from the transactions. Recommends that the committees with proper jurisdiction consider legislation to require that the budgetary impact of such Federal Financing Bank transactions be included in the budgets of the initiating agencies beginning with the FY 1985 budget.