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[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1162 Introduced in House (IH)]

104th CONGRESS
  1st Session
                                H. R. 1162

    To establish a Deficit Reduction Trust Fund and provide for the 
 downward adjustment of discretionary spending limits in appropriation 
                                 bills.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             March 8, 1995

  Mr. Crapo (for himself, Ms. Harman, Mr. Hastert, Mr. Schumer, Mrs. 
  Morella, Mr. Brewster, Mr. Shays, Mr. Edwards, Mr. Inglis of South 
     Carolina, Mr. Stenholm, Mr. Kasich, Ms. Molinari, Ms. Dunn of 
     Washington, Mr. Ackerman, Mr. Frost, Mr. Klug, Mr. Weldon of 
   Pennsylvania, Mr. Weller, Mr. Meehan, Mr. Minge, Mr. Poshard, Mr. 
Hancock, Mr. Lipinski, Mr. Orton, Ms. Eshoo, Mr. Castle, Mrs. Lincoln, 
Mr. Greenwood, Mr. Burton of Indiana, Mrs. Waldholtz, Mr. Bereuter, Mr. 
  Barrett of Wisconsin, Mr. Buyer, Mr. Browder, Mr. Burr, Mr. Deal of 
 Georgia, Mr. Neumann, and Mr. Brown of Ohio) introduced the following 
    bill; which was referred to the Committee on the Budget, and in 
   addition to the Committees on Government Reform and Oversight and 
 Rules, for a period to be subsequently determined by the Speaker, in 
   each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL

 
    To establish a Deficit Reduction Trust Fund and provide for the 
 downward adjustment of discretionary spending limits in appropriation 
                                 bills.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. DEFICIT REDUCTION TRUST FUND.

    (a) Establishment.--A trust fund known as the ``Deficit Reduction 
Trust Fund'' (hereinafter in this title referred to as the ``Fund'') 
shall be established in the Treasury of the United States.
    (b) Contents.--The Fund shall consist only of amounts contained in 
the deficit reduction lock box provision of any appropriation Act. Such 
amounts shall be transferred to the Fund as specified in subsection 
(c).
    (c) Transfers of Moneys to the Fund.--Within 10 days of enactment 
of any appropriation Act which has a deficit reduction lock box 
provision, there shall be transferred from the general fund to the Fund 
an amount equal to that amount.
    (d) Use of Moneys in the Fund.--Notwithstanding any other provision 
of law, the amounts in the Fund shall not be available, in any fiscal 
year, for appropriation, obligation, expenditure, or transfer.

SEC. 2. DOWNWARD ADJUSTMENTS OF DISCRETIONARY SPENDING LIMITS.

    (a) Downward Adjustments.--The discretionary spending limit for new 
budget authority for any fiscal year set forth in section 601(a)(2) of 
the Congressional Budget Act of 1974, as adjusted in strict conformance 
with section 251 of the Balanced Budget and Emergency Deficit Control 
Act of 1985, shall be reduced by the amount of budget authority 
transferred to the Fund for that fiscal year under section 2(c), as 
calculated by the Director of the Office of Management and Budget. The 
adjusted discretionary spending limit for outlays for that fiscal year 
and each outyear as set forth in such section 601(a)(2) shall be 
reduced as a result of the reduction of such budget authority, as 
calculated by the Director of the Office of Management and Budget based 
upon such programmatic and other assumptions set forth in the joint 
explanatory statement of managers accompanying the conference report on 
that bill. All such reductions shall occur on the same day that the 
amounts triggering the reductions are transferred to the Fund.
    (b) Definition.--As used in this section, the term ``appropriation 
bill'' means any general or special appropriation bill, and any bill or 
joint resolution making supplemental, deficiency, or continuing 
appropriations.

SEC. 3. DEFICIT REDUCTION LOCK-BOX PROVISIONS OF APPROPRIATION 
              MEASURES.

    (a) Deficit Reduction Lock-box Provisions.--Title III of the 
Congressional Budget Act of 1974 is amended by adding at the end the 
following new section:

     ``deficit reduction lock-box provisions of appropriation bills

    ``Sec. 314. (a) Any appropriation bill that is being marked up by 
the Committee on Appropriations (or a subcommittee thereof) of either 
House shall contain a line item entitled `Deficit Reduction Lock-box'. 
The dollar amount set forth under that heading shall be an amount equal 
to the section 602(b)(1) or section 302(b)(1) allocations, as the case 
may be, to the subcommittee of jurisdiction over the bill of the 
Committee on Appropriations minus the aggregate level of budget 
authority or outlays contained in the bill being considered.
    ``(b) Whenever the Committee on Appropriations of either House 
reports an appropriation bill, that bill shall contain a line item 
entitled `Deficit Reduction Account' comprised of the following:
            ``(1) Only in the case of any general appropriation bill 
        containing the appropriations for Treasury and Postal Service 
        (or resolution making continuing appropriations (if 
        applicable)), an amount equal to the amounts by which the 
        discretionary spending limit for new budget authority and 
        outlays set forth in the most recent OMB sequestration preview 
        report pursuant to section 601(a)(2) exceed the section 602(a) 
        allocation for the fiscal year covered by that bill.
            ``(2) Only in the case of any general appropriation bill 
        (or resolution making continuing appropriations (if 
        applicable)), an amount not to exceed the amount by which the 
        appropriate section 602 (b) allocation of new budget authority 
        exceeds the amount of new budget authority provided by that 
        bill (as reported by that committee).
            ``(3) Only in the case of any bill making supplemental 
        appropriations following enactment of all general appropriation 
        bills for the same fiscal year, an amount not to exceed the 
        amount by which the section 602(a) allocation of new budget 
        authority exceeds the sum of all new budget authority provided 
        by appropriation bills enacted for that fiscal year plus that 
        supplemental appropriation bill (as reported by that 
        committee).
    ``(c) Whenever a Member of either House of Congress offers an 
amendment (whether in subcommittee, committee, or on the floor) to an 
appropriation bill to reduce spending, that reduction shall be placed 
in the deficit reduction lock-box unless that Member indicates that it 
is to be utilized for another program, project, or activity covered by 
that bill. If the amendment is agreed to and the reduction was placed 
in the deficit reduction lock-box, then the line item entitled `Deficit 
Reduction Lock-box' shall be increased by the amount of that reduction.
    ``(d) It shall not be in order in the House of Representatives or 
the Senate to consider a conference report that modifies any Deficit 
Reduction Lock-box provision that is beyond the scope of that provision 
as so committed to the conference committee.''.
    (b) Conforming Amendment.--The table of contents set forth in 
section 1(b) of the Congressional Budget and Impoundment Control Act of 
1974 is amended by inserting after the item relating to section 313 the 
following new item:

``Sec. 314. Deficit reduction lock-box provisions of appropriation 
                            measures.''.

SEC. 4. CBO TRACKING.

    Section 202 of the Congressional Budget Act of 1974 is amended by 
adding at the end the following new subsection:
    ``(i) Scorekeeping Assistance.--To facilitate compliance by the 
Committees on Appropriations with section 314, the Office shall score 
all general appropriation measures as passed the House of 
Representatives and as passed the Senate and have such scorecard 
published in the Congressional Record.''.
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