I

103D CONGRESS

1ST SESSION H. R. 863

To provide that all new revenue must be dedicated to deficit reduction and

to establish, for fiscal years 1994 through 1998, discretionary spending

limits for the defense, international, and domestic categories and maximum deficit amounts.

IN THE HOUSE OF REPRESENTATIVES

FEBRUARY 4, 1993

Mr. SCHAEFER introduced the following bill; which was referred jointly to the

Committees on Government Operations and Rules

A BILL

To provide that all new revenue must be dedicated to deficit

reduction and to establish, for fiscal years 1994 through

1998, discretionary spending limits for the defense, international, and domestic categories and maximum deficit

amounts.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION l. SHORT TITLE.

4 This Act may be cited as the ‘‘Invest in the Deficit

5 Act of 1993’’.
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1 SEC. 2. NEW REVENUE TO REDUCE DEFICITS.

2 (a) IN GENERAL.—Except as provided by subsection

3 (b), whenever a law is enacted that provides new revenue

4 or an asset of the United States is sold to the public, all

5 such revenue and the proceeds of all such sales shall be

6 dedicated to the reduction of any annual Federal budget

7 deficit.

8 (b) EXCEPTION.—Subsection (a) shall not apply to

9 any fiscal year if there was no Federal budget deficit in

10 the immediately preceding fiscal year.

11 (c) DEFINITION.—As used in this section, the term

12 ‘‘new revenue’’ refers to additional receipts resulting from

13 the enactment, after the date of enactment of this Act,

14 of new taxes or higher rates for existing taxes, including

15 any extension of temporary taxes or rates.

16 SEC. 3. MAXIMUM DEFICIT AMOUNTS AND DISCRETIONARY

17 SPENDING LIMITS FOR FISCAL YEAR 1994–

18 1998.

19 (a) MAXIMUM DEFICIT AMOUNTS.—Section

20 601(a)(1) of the Congressional Budget Act of 1974 is

21 amended by striking subparagraphs (D) and (E) and in22 serting the following:

23 ‘‘(D) with respect to fiscal year 1994,

24 $260,800,000,000;

25 ‘‘(E) with respect to fiscal year 1995,

26 $240,000,000,000;
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1 ‘‘(F) with respect to fiscal year 1996,

2 $210,000,000,000;

3 ‘‘(G) with respect to fiscal year 1997,

4 $170,000,000,000; and

5 ‘‘(H) with respect to fiscal year 1998,

6 $130,000,000,000;’’.

7 (b) DISCRETIONARY SPENDING LIMITS.—(1) Section

8 601(a)(2) of the Congressional Budget Act of 1974 is

9 amended by striking subparagraphs (D) and (E) and by

10 inserting ‘‘and’’ at the end of subparagraph (B).

11 (2) Section 601(a) of the Congressional Budget Act

12 of 1974 is amended by adding at the end the following

13 new paragraph:

14 ‘‘(3) DISCRETIONARY SPENDING LIMITS FOR

15 FISCAL YEARS 1994–1998.—The term ‘discretionary

16 spending limit’ means—

17 ‘‘(A) for the defense category—

18 ‘‘(i) with respect to fiscal year 1994,

19 $281,151,000,000 in new budget authority

20 and $290,361,000,000 in outlays;

21 ‘‘(ii) with respect to fiscal year 1995,

22 $279,151,000,000 in new budget authority

23 and $288,361,000,000 in outlays;
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1 ‘‘(iii) with respect to fiscal year 1996,

2 $273,151,000,000 in new budget authority

3 and $282,361,000,000 in outlays;

4 ‘‘(iv) with respect to fiscal year 1997,

5 $269,651,000,000 in new budget authority

6 and $278,861,000,000 in outlays; and

7 ‘‘(v) with respect to fiscal year 1998,

8 $264,651,000,000 in new budget authority

9 and $273,861,000,000 in outlays; and

10 ‘‘(B) for the international category, as ad11 justed in strict conformance with section 251 of

12 the Balanced Budget and Emergency Deficit

13 Control Act of 1985—

14 ‘‘(i) with respect to fiscal year 1994,

15 $34,941,000,000 in new budget authority

16 and $20,519,000,000 in outlays;

17 ‘‘(ii) with respect to fiscal year 1995,

18 $35,558,000,000 in new budget authority

19 and $20,881,000,000 in outlays;

20 ‘‘(iii) with respect to fiscal year 1996,

21 $36,732,000,000 in new budget authority

22 and $21,570,000,000 in outlays;

23 ‘‘(iv) with respect to fiscal year 1997,

24 $37,980,000,000 in new budget authority

25 and $22,304,000,000 in outlays; and
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1 ‘‘(v) with respect to fiscal year 1998,

2 $39,272,000,000 in new budget authority

3 and $23,062,000,000 in outlays; and

4 ‘‘(C) for the domestic category, as adjusted

5 in strict conformance with section 251 of the

6 Balanced Budget and Emergency Deficit Con7 trol Act of 1985—

8 ‘‘(i) with respect to fiscal year 1994,

9 $205,501,000,000 in new budget authority

10 and $228,997,000,000 in outlays;

11 ‘‘(ii) with respect to fiscal year 1995,

12 $209,131,000,000 in new budget authority

13 and $233,043,000,000 in outlays;

14 ‘‘(iii) with respect to fiscal year 1996,

15 $216,032,000,000 in new budget authority

16 and $240,733,000,000 in outlays;

17 ‘‘(iv) with respect to fiscal year 1997,

18 $223,378,000,000 in new budget authority

19 and $248,918,000,000 in outlays; and

20 ‘‘(v) with respect to fiscal year 1998,

21 $230,972,000,000 in new budget authority

22 and $257,382,000,000 in outlays.’’.

23 (c) CONFORMING AMENDMENTS.—(1) Section

24 601(b)(1) of the Congressional Budget Act of 1974 is
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1 amended by striking ‘‘or 1995’’ and inserting ‘‘1995,

2 1996, 1997, or 1998’’.

3 (2) Section 602(c) of the Congressional Budget Act

4 of 1974 is amended by striking ‘‘1995’’ and inserting

5 ‘‘1998’’.

6 (3) Section 602(d) of the Congressional Budget Act

7 of 1974 is amended in its side heading by striking ‘‘1995’’

8 and inserting ‘‘1998’’ and by striking ‘‘1995’’ and inserting

9 ‘‘1998’’.

10 (4) Section 606(c) of the Congressional Budget Act

11 of 1974 is amended—

12 (A) in subsection (a), by striking ‘‘or 1995’’

13 and inserting ‘‘1995, 1996, 1997, or 1998’’; and

14 (B) in subsection (d), by striking ‘‘and 1995’’

15 and inserting ‘‘1995, 1996, 1997, and 1998’’.

16 (5) Section 607 of the Congressional Budget Act of

17 1974 is amended by striking ‘‘1995’’ and inserting

18 ‘‘1998’’.

19 SEC. 4. CONFORMING AMENDMENTS TO THE BALANCED

20 BUDGET AND EMERGENCY DEFICIT CONTROL

21 ACT OF 1985.

22 Part C of the Balanced Budget and Emergency Defi23 cit Control Act of 1985 is amended as follows:

24 (1) Section 250(a) is amended by striking

25 ‘‘1995’’ and inserting ‘‘1998’’.
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1 (2) Section 250(c) is amended—

2 (A) in paragraph (4), by striking ‘‘(A)’’, by

3 striking ‘‘1991, 1992, and 1993’’ and inserting

4 ‘‘1991 through 1998’’, and by repealing sub5 paragraph (B);

6 (B) in paragraph (6)(B), by striking ‘‘or

7 1995,’’ and inserting ‘‘1995, 1996, 1997, or

8 1998,’’; and

9 (C) in paragraph (14), by striking ‘‘1995’’

10 and inserting ‘‘1998’’.

11 (3)(A) The side heading of section 251(a) is

12 amended by striking ‘‘1995’’ and inserting ‘‘1998’’.

13 (B) Section 251(b) is amended—

14 (i) by striking ‘‘or 1995’’ and inserting

15 ‘‘1995, 1996, 1997, or 1998’’ in the first sen16 tence of paragraph (1), in paragraph (1)(B)(i),

17 in the first sentence of paragraph (2), and in

18 paragraph (2)(D);

19 (ii) in paragraph (1)(B), effective for fiscal

20 year 1994, by striking clause (ii) and inserting

21 the following new clause:

22 ‘‘(ii) For a budget year the inflation adjustment

23 factor shall be measured by the average of the esti24 mated gross national product implicit price deflator
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1 index for a fiscal year divided by the average of the

2 prior fiscal year.’’;

3 (iii) in the first sentence of paragraph (2)

4 by striking ‘‘through 1995’’ and inserting

5 ‘‘through 1998’’; and

6 (iv) in paragraph (2)(F) by striking the

7 comma after ‘‘or 1993’’ and all that follows and

8 inserting a period.

9 (4)(A) The side heading of section 252(a) is

10 amended by striking ‘‘1995’’ and inserting ‘‘1998’’.

11 (B) Section 252(d) is amended by striking

12 ‘‘1995’’ and inserting ‘‘1998’’ each place it appears.

13 (C) Section 252(e) is amended by striking ‘‘or

14 1995’’ and inserting ‘‘1995, 1996, 1997, or 1998’’

15 and by striking ‘‘through 1995’’ and inserting

16 ‘‘through 1998’’.

17 (5) Section 253 is amended—

18 (A) in subsection (g)(1)(B), by inserting

19 ‘‘or any subsequent fiscal year through 1998’’

20 after ‘‘fiscal year 1994’’, by striking ‘‘fiscal

21 years 1994 and 1995’’ and inserting ‘‘that fis22 cal year and the subsequent fiscal year (through

23 fiscal year 1998)’’, by striking the second sen24 tence, and, in the last sentence, by striking

25 ‘‘through fiscal year’’ and all that follows and
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1 inserting: ‘‘shall be deemed to apply for that

2 fiscal year.’’;

3 (B) in subsection (g)(1)(C), by striking ‘‘or

4 1995’’ and inserting ‘‘1995, 1996, 1997, or

5 1998’’; and

6 (C) in subsection (h), by striking ‘‘fiscal

7 year 1994 and fiscal year 1995’’ both places it

8 appears and inserting ‘‘fiscal year 1994, 1995,

9 1996, 1997, and 1998’’.

10 (6) Section 254 is amended—

11 (A) in subsection (c), by striking ‘‘or

12 1995’’ and inserting ‘‘1995, 1996, 1997, or

13 1998’’;

14 (B) in subsection (d)(2), by striking

15 ‘‘1995’’ and inserting ‘‘1998’’; and

16 (C) in paragraphs (2)(A) and (3) of sub17 section (g), by striking ‘‘1995’’ and inserting

18 ‘‘1998’’.

19 (7) Section 275(b) is amended by striking

20 ‘‘1995’’ and inserting ‘‘1998’’.

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