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

  1st Session
                                H. R. 1162

                      [Report No. 104-205, Part 1]

    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

                             July 25, 1995

Additional sponsors: Mr. Portman, Mr. McHale, Mr. Foley, Mr. Weldon of 
Florida, Mr. Miller of Florida, Mr. Wynn, Mr. Bentsen, Mr. Luther, Mr. 
 Quinn, Mr. Tanner, Mr. Martini, Mr. Herger, Mr. Fox of Pennsylvania, 
    Mr. Upton, Mr. Cooley, Mr. Zimmer, Mr. Hoekstra, Mr. Royce, Mr. 
Hutchinson, Mr. White, Mr. Sanford, Mr. McInnis, Mr. Coburn, Mrs. Smith 
  of Washington, Mr. Forbes, Mrs. Myrick, Mr. Blute, Mr. Solomon, Mr. 
Goss, Mr. Rohrabacher, Mrs. Cubin, Mrs. Chenoweth, Mr. Shadegg, and Mr. 
                         Peterson of Minnesota

                             July 25, 1995

          Reported from the Committee on Rules with amendments
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
 [For text of introduced bill, see copy of bill as introduced on March 
                                8, 1995]

_______________________________________________________________________

                                 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. SHORT TITLE.

    This Act may be cited as the ``Deficit Reduction Lock-box Act of 
1995''.

SEC. 2. DEFICIT REDUCTION LOCK-BOX ACCOUNT.

    (a) Establishment of Account.--Title III of the Congressional 
Budget Act of 1974 is amended by adding at the end the following new 
section:

                  ``deficit reduction lock-box account

    ``Sec. 314. (a) Establishment of Account.--There is established in 
the Congressional Budget Office an account to be known as the `Deficit 
Reduction Lock-box Account'. The Account shall be divided into 
subaccounts corresponding to the subcommittees of the Committees on 
Appropriations. Each subaccount shall consist of three entries: the 
`House Lock-box Balance'; the `Senate Lock-box Balance'; and the `Joint 
House-Senate Lock-box Balance'.
    ``(b) Contents of Account.--Each entry in a subaccount shall 
consist only of amounts credited to it under subsection (c). No entry 
of a negative amount shall be made.
    ``(c) Credit of Amounts to Account.--(1) The Director of the 
Congressional Budget Office (hereinafter in this section referred to as 
the `Director') shall, upon the engrossment of any appropriation bill 
by the House of Representatives and upon the engrossment of that bill 
by the Senate, credit to the applicable subaccount balance of that 
House amounts of new budget authority and outlays equal to the net 
amounts of reductions in new budget authority and in outlays resulting 
from amendments agreed to by that House to that bill.
    ``(2) The Director shall, upon the engrossment of Senate amendments 
to any appropriation bill, credit to the applicable Joint House-Senate 
Lock-box Balance the amounts of new budget authority and outlays equal 
to--
            ``(A) an amount equal to one-half of the sum of (i) the 
        amount of new budget authority in the House Lock-box Balance 
        plus (ii) the amount of new budget authority in the Senate 
        Lock-box Balance for that bill; and
            ``(B) an amount equal to one-half of the sum of (i) the 
        amount of outlays in the House Lock-box Balance plus (ii) the 
        amount of outlays in the Senate Lock-box Balance for that bill,
under section 314(c), as calculated by the Director of the 
Congressional Budget Office.
    ``(d) 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 through the end of a fiscal year.''.
    (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 account.''
SEC. 3. TALLY DURING HOUSE CONSIDERATION.

    There shall be available to Members in the House of Representatives 
during consideration of any appropriations bill by the House a running 
tally of the amendments adopted reflecting increases and decreases of 
budget authority in the bill as reported.

SEC. 4. DOWNWARD ADJUSTMENT OF 602(a) ALLOCATIONS AND SECTION 602(b) 
              SUBALLOCATIONS.

    (a) Allocations.--Section 602(a) of the Congressional Budget Act of 
1974 is amended by adding at the end the following new paragraph:
            ``(5) Upon the engrossment of Senate amendments to any 
        appropriation bill (as defined in section 314(d)) for a fiscal 
        year, the amounts allocated under paragraph (1) or (2) to the 
        Committee on Appropriations of each House upon the adoption of 
        the most recent concurrent resolution on the budget for that 
        fiscal year shall be adjusted downward by the amounts credited 
        to the applicable Joint House-Senate Lock-box Balance under 
        section 314(c)(2), as calculated by the Director of the 
        Congressional Budget Office, and the revised levels of budget 
        authority and outlays shall be submitted to each House by the 
        chairman of the Committee on the Budget of that House and shall 
        be printed in the Congressional Record.''.
    (b) Suballocations.--Section 602(b)(1) of the Congressional Budget 
Act of 1974 is amended by adding at the end the following new sentence: 
``Whenever an adjustment is made under subsection (a)(5) to an 
allocation under that subsection, the Director of the Congressional 
Budget Office shall make downward adjustments in the most recent 
suballocations of new budget authority and outlays under subparagraph 
(A) to the appropriate subcommittees of that committee in the total 
amounts of those adjustments under section 314(c)(2). The revised 
suballocations shall be submitted to each House by the chairman of the 
Committee on Appropriations of that House and shall be printed in the 
Congressional Record.''.

SEC. 5. PERIODIC REPORTING OF ACCOUNT STATEMENTS.

    Section 308(b)(1) of the Congressional Budget Act of 1974 is 
amended by adding at the end the following new sentence: ``Such reports 
shall also include an up-to-date tabulation of the amounts contained in 
the account and each subaccount established by section 314(a).''.
SEC. 6. DOWNWARD ADJUSTMENT OF DISCRETIONARY SPENDING LIMITS.

    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 the adjustment to the section 602(a) 
allocations made under section 602(a)(5) of the Congressional Budget 
Act of 1974, as calculated by the Director of the Office of Management 
and Budget. The adjusted discretionary spending limit for outlays for 
that fiscal year, 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 programmatic and other assumptions set forth in the joint 
explanatory statement of managers accompanying the conference report on 
that bill. Reductions (if any) shall occur upon the enactment of all 
regular appropriation bills for a fiscal year or a resolution making 
continuing appropriations through the end of that fiscal year. This 
adjustment shall be reflected in reports under sections 254(g) and 
254(h) of the Balanced Budget and Emergency Deficit Control Act of 
1985.

SEC. 7. EFFECTIVE DATE.

    (a) In General.--This Act shall apply to all appropriation bills 
making appropriations for fiscal year 1996 or any subsequent fiscal 
year.
    (b) FY96 Application.--In the case of any appropriation bill for 
fiscal year 1996 engrossed by the House of Representatives after the 
date this bill was engrossed by the House of Representatives and before 
the date of enactment of this bill, the Director of the Congressional 
Budget Office, the Director of the Office of Management and Budget, and 
the Committees on Appropriations and the Committees on the Budget of 
the House of Representatives and of the Senate shall, within 10 
calendar days after that date of enactment of this Act, carry out the 
duties required by this Act and amendments made by it that occur after 
the date this Act was engrossed by the House of Representatives.
    (c) FY96 Allocations.--The duties of the Director of the 
Congressional Budget Office and of the Committees on Budget and on 
Appropriations of the House of Representatives pursuant to this Act and 
the amendments made by it regarding appropriation bills for fiscal year 
1996 shall be based upon the revised section 602(a) allocations in 
effect on the date this Act was engrossed by the House of 
Representatives.
    (d) 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 through the end of a fiscal year.
            Amend the title so as to read: ``A bill to establish 
        procedures to provide for a deficit reduction lock-box and 
        related downward adjustment of discretionary spending 
        limits.''.
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