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‘‘(C) for qualified first-time homebuyer dis-
tributions (as defined in section 72(t)(6)) or for
the payment of qualified higher education ex-
penses (as defined in section 72(t)(7)).’’
(e) EFFECTIVE DATE.—The amendments made by
this section shall apply to payments and distributions after
the date of the enactment of this Act.
TITLE IV—2 PERCENT CAP ON
INCREASES IN ALL FEDERAL
SPENDING THROUGH 1998
SEC. 401. CONCURRENT RESOLUTION ON THE BUDGET FOR
FISCAL YEAR 1994.
The Congress determines and declares that this reso-
lution is the concurrent resolution on the budget for fiscal
year 1994, including the appropriate budgetary levels for
fiscal years 1995, 1996, 1997, and 1998, as required by
section 301 of the Congressional Budget Act of 1974 (as
amended by the Budget Enforcement Act of 1990).
SEC. 402. RECOMMENDED LEVELS AND AMOUNTS.
The following budgetary levels are appropriate for the
fiscal years beginning on October 1, 1993, October 1,
1994, October 1, 1995, October 1, 1996, and October 1,
1997:
(1) The recommended levels of Federal reve-
nues are as follows:
HR 1885 IH
Fiscal year 1994: $1,214,400,000,000.
Fiscal year 1995: $1,289,800,000,000.
Fiscal year 1996: $1,355,300,000,000.
Fiscal year 1997: $1,412,700,000,000.
Fiscal year 1998: $1,480,500,000,000.
and the amounts by which the aggregate levels of
Federal revenues should be increased are as follows:
Fiscal year 1994: $0.
Fiscal year 1995: $0.
Fiscal year 1996: $0.
Fiscal year 1997: $0.
Fiscal year 1998: $0.
and the amounts for Federal Insurance Contribu-
tions Act revenues for hospital insurance within the
recommended levels of Federal revenues are as fol-
lows:
Fiscal year 1994: $87,500,000,000.
Fiscal year 1995: $92,700,000,000.
Fiscal year 1996: $97,800,000,000.
Fiscal year 1997: $102,300,000,000.
Fiscal year 1998: $106,800,000,000.
(2) The appropriate levels of total new budget
authority are as follows:
Fiscal year 1994: $1,489,000,000,000.
Fiscal year 1995: $1,521,400,000,000.
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Fiscal year 1996: $1,550,800,000,000.
Fiscal year 1997: $1,581,000,000,000.
Fiscal year 1998: $1,614,600,000,000.
(3) The appropriate levels of total budget out-
lays are as follows:
Fiscal year 1994: $1,464,100,000,000.
Fiscal year 1995: $1,498,100,000,000.
Fiscal year 1996: $1,511,600,000,000.
Fiscal year 1997: $1,532,900,000,000.
Fiscal year 1998: $1,571,700,000,000.
(4) The amounts of the deficits are as follows:
Fiscal year 1994: $249,700,000,000.
Fiscal year 1995: $208,300,000,000.
Fiscal year 1996: $156,200,000,000.
Fiscal year 1997: $120,300,000,000.
Fiscal year 1998: $91,300,000,000.
(5) The appropriate levels of the public debt are
as follows:
Fiscal year 1994: $4,711,000,000,000.
Fiscal year 1995: $5,026,000,000,000.
Fiscal year 1996: $5,295,000,000,000.
Fiscal year 1997: $5,528,000,000,000.
Fiscal year 1998: $5,729,000,000,000.
(6) The appropriate levels of total Federal
credit activity for the fiscal years beginning on Octo-
HR 1885 IH
ber 1, 1993, October 1, 1994, October 1, 1995, Oc-
tober 1, 1996, and October 1, 1997, are as follows:
Fiscal year 1994:
(A) New direct loan obligations,
$19,920,000,000.
(B) New primary loan guarantee com-
mitments, $218,700,000,000.
Fiscal year 1995:
(A) New direct loan obligations,
$10,800,000,000.
(B) New primary loan guarantee com-
mitments, $49,200,000,000.
Fiscal year 1996:
(A) New direct loan obligations,
$11,200,000,000.
(B) New primary loan guarantee com-
mitments, $50,900,000,000.
Fiscal year 1997:
(A) New direct loan obligations,
$10,900,000,000.
(B) New primary loan guarantee com-
mitments, $52,900,000,000.
Fiscal year 1998:
(A) New direct loan obligations,
$10,900,000,000.
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(B) New primary loan guarantee com-
mitments, $53,800,000,000.
SEC. 403. MAJOR FUNCTIONAL CATEGORIES.
The Congress determines and declares that the ap-
propriate levels of new budget authority, budget outlays,
new direct loan obligations, new primary loan guarantee
commitments, and new secondary loan guarantee commit-
ments for fiscal years 1994 through 1998 for each major
functional category are:
(1) National Defense (050):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$282,500,000,000.
(B) Outlays, $279,000,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$284,700,000,000.
(B) Outlays, $280,000,000,000.
(C) New direct loan obligations, $0.
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(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$286,600,000,000.
(B) Outlays, $284,000,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$291,000,000,000.
(B) Outlays, $288,000,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$296,700,000,000.
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(B) Outlays, $291,000,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(2) International Affairs (150):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$19,900,000,000.
(B) Outlays, $19,000,000,000.
(C) New direct loan obligations,
$2,800,000,000.
(D) New primary loan guarantee com-
mitments, $16,900,000,000.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$20,100,000,000.
(B) Outlays, $18,900,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
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(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$20,200,000,000.
(B) Outlays, $18,900,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$20,500,000,000.
(B) Outlays, $19,200,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$20,900,000,000.
(B) Outlays, $19,600,000,000.
(C) New direct loan obligations, $0.
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(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(3) General Science, Space, and Technology
(250):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$17,600,000,000.
(B) Outlays, $17,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$17,900,000,000.
(B) Outlays, $17,800,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
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(A) 
New 
budget 
authority,
$18,300,000,000.
(B) Outlays, $18,100,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$18,700,000,000.
(B) Outlays, $18,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$19,000,000,000.
(B) Outlays, $18,800,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
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(E) New secondary loan guarantee
commitments, $0.
(4) Energy (270):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$5,200,000,000.
(B) Outlays, $4,000,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$5,300,000,000.
(B) Outlays, $3,800,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$5,400,000,000.
(B) Outlays, $4,200,000,000.
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(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$5,500,000,000.
(B) Outlays, $4,200,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$5,500,000,000.
(B) Outlays, $4,100,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(5) Natural Resources and Environment (300):
Fiscal year 1994:
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(A) 
New 
budget 
authority,
$21,800,000,000.
(B) Outlays, $21,100,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$22,200,000,000.
(B) Outlays, $21,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$22,700,000,000.
(B) Outlays, $22,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
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(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$23,100,000,000.
(B) Outlays, $22,500,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$23,600,000,000.
(B) Outlays, $22,900,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(6) Agriculture (350):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$15,600,000,000.
(B) Outlays, $14,700,000,000.
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(C) New direct loan obligations,
$9,400,000,000.
(D) New primary loan guarantee com-
mitments, $6,600,000,000.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$14,300,000,000.
(B) Outlays, $12,900,000,000.
(C) New direct loan obligations,
$7,500,000,000.
(D) New primary loan guarantee com-
mitments, $5,000,000,000.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$13,900,000,000.
(B) Outlays, $11,900,000,000.
(C) New direct loan obligations,
$7,800,000,000.
(D) New primary loan guarantee com-
mitments, $5,000,000,000.
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(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$14,200,000,000.
(B) Outlays, $12,300,000,000.
(C) New direct loan obligations,
$7,400,000,000.
(D) New primary loan guarantee com-
mitments, $5,000,000,000.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$14,400,000,000.
(B) Outlays, $12,800,000,000.
(C) New direct loan obligations,
$7,400,000,000.
(D) New primary loan guarantee com-
mitments, $5,000,000,000.
(E) New secondary loan guarantee
commitments, $0.
(7) Commerce and Housing Credit (370):
Fiscal year 1994:
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(A) 
New 
budget 
authority,
$20,800,000,000.
(B) Outlays, $11,000,000,000.
(C) New direct loan obligations,
$2,300,000,000.
(D) New primary loan guarantee com-
mitments, $145,800,000,000.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$17,700,000,000.
(B) Outlays, $13,600,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$14,000,000,000.
(B) Outlays, $1,500,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
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(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$10,400,000,000.
(B) Outlays, ¥$11,200,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$10,600,000,000.
(B) Outlays, ¥$6,100,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(8) Transportation (400):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$40,800,000,000.
(B) Outlays, $36,700,000,000.
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(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$41,100,000,000.
(B) Outlays, $37,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$42,000,000,000.
(B) Outlays, $38,700,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
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(A) 
New 
budget 
authority,
$42,800,000,000.
(B) Outlays, $38,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$43,700,000,000.
(B) Outlays, $39,100,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(9) Community and Regional Development
(450):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$8,700,000,000.
(B) Outlays, $8,700,000,000.
(C) New direct loan obligations,
$1,900,000,000.
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(D) New primary loan guarantee com-
mitments, $2,300,000,000.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$8,700,000,000.
(B) Outlays, $8,500,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$8,900,000,000.
(B) Outlays, $8,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$9,000,000,000.
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(B) Outlays, $8,500,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$9,200,000,000.
(B) Outlays, $8,700,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(10) Education, Training, Employment, and
Social Services (500):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$52,500,000,000.
(B) Outlays, $50,900,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $21,700,000,000.
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(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$52,900,000,000.
(B) Outlays, $51,000,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $22,200,000,000.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$53,600,000,000.
(B) Outlays, $47,500,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $22,600,000.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$54,600,000,000.
(B) Outlays, $52,500,000,000.
(C) New direct loan obligations, $0.
HR 1885 IH
(D) New primary loan guarantee com-
mitments, $23,100,000,000.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$55,700,000,000.
(B) Outlays, $54,000,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $23,500,000,000.
(E) New secondary loan guarantee
commitments, $0.
(11) Health (550):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$107,900,000,000.
(B) Outlays, $107,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
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(A) 
New 
budget 
authority,
$110,100,000,000.
(B) Outlays, $109,600,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$112,300,000,000.
(B) Outlays, $111,700,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$114,500,000,000.
(B) Outlays, $113,800,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
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(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$116,800,000.
(B) Outlays, $116,000,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(12) Medicare (570):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$138,100,000,000.
(B) Outlays, $136,200,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$140,900,000,000.
(B) Outlays, $136,900,000,000.
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(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$143,700,000,000.
(B) Outlays, $142,100,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$146,600,000,000.
(B) Outlays, $145,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
HR 1885 IH
(A) 
New 
budget 
authority,
$149,500,000,000.
(B) Outlays, $148,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(13) Income Security (600):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$210,000,000,000.
(B) Outlays, $210,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$214,200,000,000.
(B) Outlays, $215,600,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
HR 1885 IH
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$218,400,000,000.
(B) Outlays, $213,800,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$222,800,000,000.
(B) Outlays, $215,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$227,300,000,000.
(B) Outlays, $222,800,000,000.
(C) New direct loan obligations, $0.
HR 1885 IH
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(14) Social Security (650):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$312,400,000,000.
(B) Outlays, $311,100,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$318,700,000,000.
(B) Outlays, $317,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
HR 1885 IH
(A) 
New 
budget 
authority,
$325,100,000,000.
(B) Outlays, $323,700,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$331,600,000,000.
(B) Outlays, $330,200,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$338,200,000,000.
(B) Outlays, $336,900,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
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(E) New secondary loan guarantee
commitments, $0.
(15) Veterans Benefits and Services (700):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$35,000,000,000.
(B) Outlays, $36,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$35,700,000,000.
(B) Outlays, $35,600,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$36,400,000,000.
(B) Outlays, $34,900,000,000.
HR 1885 IH
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$37,200,000,000.
(B) Outlays, $37,100,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$37,900,000,000.
(B) Outlays, $37,800,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(16) Administration of Justice (750):
Fiscal year 1994:
HR 1885 IH
(A) 
New 
budget 
authority,
$15,200,000,000.
(B) Outlays, $15,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$15,500,000,000.
(B) Outlays, $15,700,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$15,900,000,000.
(B) Outlays, $15,900,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
HR 1885 IH
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$16,200,000,000.
(B) Outlays, $16,100,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$16,500,000,000.
(B) Outlays, $16,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(17) General Government (800):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$13,600,000,000.
(B) Outlays, $13,700,000,000.
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(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$13,900,000,000.
(B) Outlays, $14,900,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$14,200,000,000.
(B) Outlays, $14,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
HR 1885 IH
(A) 
New 
budget 
authority,
$14,500,000,000.
(B) Outlays, $14,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$14,800,000,000.
(B) Outlays, $14,600,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(18) Net Interest (900):
Fiscal year 1994:
(A) 
New 
budget 
authority,
$209,600,000,000.
(B) Outlays, $209,600,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
HR 1885 IH
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
$226,600,000,000.
(B) Outlays, $226,600,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) 
New 
budget 
authority,
$239,900,000,000.
(B) Outlays, $239,900,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
$249,800,000,000.
(B) Outlays, $249,800,000,000.
(C) New direct loan obligations, $0.
HR 1885 IH
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
$257,800,000,000.
(B) Outlays, $257,800,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(19) Allowances (920):
Fiscal year 1994:
(A) New budget authority, $0.
(B) Outlays, $0.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) New budget authority, $0.
(B) Outlays, $0.
HR 1885 IH
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
(A) New budget authority, $0.
(B) Outlays, $0.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) New budget authority, $0.
(B) Outlays, $0.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) New budget authority, $0.
(B) Outlays, $0.
(C) New direct loan obligations, $0.
HR 1885 IH
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
(20) Undistributed Offsetting Receipts (950):
Fiscal year 1994:
(A) 
New 
budget 
authority,
¥$38,500,000,000.
(B) Outlays, ¥$38,500,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1995:
(A) 
New 
budget 
authority,
¥$39,300,000,000.
(B) Outlays, ¥$39,300,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1996:
HR 1885 IH
(A) 
New 
budget 
authority,
¥$40,400,000,000.
(B) Outlays, ¥$40,400,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1997:
(A) 
New 
budget 
authority,
¥$41,900,000,000.
(B) Outlays, ¥$41,900,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
(E) New secondary loan guarantee
commitments, $0.
Fiscal year 1998:
(A) 
New 
budget 
authority,
¥$43,500,000,000.
(B) Outlays, ¥$43,500,000,000.
(C) New direct loan obligations, $0.
(D) New primary loan guarantee com-
mitments, $0.
HR 1885 IH
(E) New secondary loan guarantee
commitments, $0.
SEC. 404. RECONCILIATION.
(a) IN GENERAL.—Not later than May 14, 1993, the
House committees named in subsections (b) through (r)
of this section shall submit their recommendations to the
Committee on the Budget of the House. After receiving
those recommendations, the Committee on the Budget
shall report to the House a reconciliation bill or resolution
or both carrying out all such recommendations without
any substantive revision.
(b) The House Committee on Agriculture shall report
(1) changes in laws within its jurisdiction which provide
spending authority as defined in section 401(c)(2)(C) of
the Congressional Budget Act of 1974, sufficient to reduce
outlays, (2) changes in laws within its jurisdiction which
provide spending authority other than as defined in sec-
tion 401(c)(2)(C) of the Act, sufficient to reduce outlays,
or (3) any combination thereof, as follows: $0 in outlays
in fiscal year 1994, $0 in outlays in fiscal year 1995, $0
in outlays in fiscal year 1996, $0 in outlays in fiscal year
1997, and $0 in outlays in fiscal year 1998.
(b) The House Committee on Armed Services shall
report (1) changes in laws within its jurisdiction which
provide spending authority as defined in section
HR 1885 IH
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $823,000,000 in outlays in fiscal year 1994,
$1,205,000,000 
in 
outlays 
in 
fiscal 
year 
1995,
$1,656,000,000 
in 
outlays 
in 
fiscal 
year 
1996,
$2,172,000,000 in outlays in fiscal year 1997, and
$2,651,000,000 in outlays in fiscal year 1998.
(c) The House Committee on Banking, Finance and
Urban Affairs shall report (1) changes in laws within its
jurisdiction which provide spending authority as defined
in section 401(c)(2)(C) of the Congressional Budget Act
of 1974, sufficient to reduce outlays, (2) changes in laws
within its jurisdiction which provide spending authority
other than as defined in section 401(c)(2)(C) of the Act,
sufficient to reduce outlays, or (3) any combination there-
of, as follows: $35,000,000 in outlays in fiscal year 1994,
$86,000,000 in outlays in fiscal year 1995, $151,000,000
in outlays in fiscal year 1996, $173,000,000 in outlays
in fiscal year 1997, and $124,000,000 in outlays in fiscal
year 1998.
(d) The House Committee on the District of Colum-
bia shall report (1) changes in laws within its jurisdiction
HR 1885 IH
which provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $1,000,000 in outlays in fiscal year 1994,
$2,000,000 in outlays in fiscal year 1995, $4,000,000 in
outlays in fiscal year 1996, $6,000,000 in outlays in fiscal
year 1997, and $7,000,000 in outlays in fiscal year 1998.
(e) The House Committee on Education and Labor
shall report changes in laws within its jurisdiction suffi-
cient to reduce the deficit as follows: $0 in fiscal year
1994, $0 in fiscal year 1995, $0 in fiscal year 1996,
$3,860,000,000 in fiscal year 1997, and $4,301,000,000
in fiscal year 1998.
(f) The House Committee on Energy and Commerce
shall report (1) changes in laws within its jurisdiction
which provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $335,000,000 in outlays in fiscal year 1994,
HR 1885 IH
$449,000,000 
in 
outlays 
in 
fiscal 
year 
1995,
$582,000,000 
in 
outlays 
in 
fiscal 
year 
1996,
$582,000,000 in outlays in fiscal year 1997, and
$584,000,000 in outlays in fiscal year 1998.
(g) The House Committee on Foreign Affairs shall
report (1) changes in laws within its jurisdiction which
provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $6,000,000 in outlays in fiscal year 1994, $0 in out-
lays in fiscal year 1995, $0 in outlays in fiscal year 1996,
$0 in outlays in fiscal year 1997, and $0 in outlays in
fiscal year 1998.
(h) The House Committee on Government Operations
shall report (1) changes in laws within its jurisdiction
which provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $3,000,000 in outlays in fiscal year 1994,
HR 1885 IH
$90,000,000 in outlays in fiscal year 1995, $96,000,000
in outlays in fiscal year 1996, $96,000,000 in outlays in
fiscal year 1997, and $97,000,000 in outlays in fiscal year
1998.
(i) The House Committee on House Administration
shall report (1) changes in laws within its jurisdiction
which provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $0 in outlays in fiscal year 1994, $24,000,000 in
outlays in fiscal year 1995, $93,000,000 in outlays in fis-
cal year 1996, $3,000,000 in outlays in fiscal year 1997,
and $0 in outlays in fiscal year 1998.
(j) The House Committee on Judiciary shall report
(1) changes in laws within its jurisdiction which provide
spending authority as defined in section 401(c)(2)(C) of
the Congressional Budget Act of 1974, sufficient to reduce
outlays, (2) changes in laws within its jurisdiction which
provide spending authority other than as defined in sec-
tion 401(c)(2)(C) of the Act, sufficient to reduce outlays,
or (3) any combination thereof, as follows: $250,000,000
in outlays in fiscal year 1994, $0 in outlays in fiscal year
HR 1885 IH
1995, $0 in outlays in fiscal year 1996, $28,000,000 in
outlays in fiscal year 1997, and $30,000,000 in outlays
in fiscal year 1998.
(k) The House Committee on Merchant Marine and
Fisheries shall report (1) changes in laws within its juris-
diction which provide spending authority as defined in sec-
tion 401(c)(2)(C) of the Congressional Budget Act of
1974, sufficient to reduce outlays, (2) changes in laws
within its jurisdiction which provide spending authority
other than as defined in section 401(c)(2)(C) of the Act,
sufficient to reduce outlays, or (3) any combination there-
of, as follows: $21,000,000 in outlays in fiscal year 1994,
$0 in outlays in fiscal year 1995, $25,000,000 in outlays
in fiscal year 1996, $21,000,000 in outlays in fiscal year
1997, and $0 in outlays in fiscal year 1998.
(l) The House Committee on Natural Resources shall
report (1) changes in laws within its jurisdiction which
provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $0 in outlays in fiscal year 1994, $199,000,000 in
outlays in fiscal year 1995, $355,000,000 in outlays in
HR 1885 IH
fiscal year 1996, $404,000,000 in outlays in fiscal year
1997, and $238,000,000 in outlays in fiscal year 1998.
(m) The House Committee on Post Office and Civil
Service shall report (1) changes in laws within its jurisdic-
tion which provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $1,349,000,000 in outlays in fiscal year 1994, $0
in outlays in fiscal year 1995, $2,643,000,000 in outlays
in fiscal year 1996, $5,910,000,000 in outlays in fiscal
year 1997, and $8,742,000,000 in outlays in fiscal year
1998.
(n) The House Committee on Public Works and
Transportation shall report (1) changes in laws within its
jurisdiction which provide spending authority as defined
in section 401(c)(2)(C) of the Congressional Budget Act
of 1974, sufficient to reduce outlays, (2) changes in laws
within its jurisdiction which provide spending authority
other than as defined in section 401(c)(2)(C) of the Act,
sufficient to reduce outlays, or (3) any combination there-
of, as follows: $0 in outlays in fiscal year 1994,
$166,000,000 in outlays in fiscal year 1995, $84,000,000
HR 1885 IH
in outlays in fiscal year 1996, $0 in outlays in fiscal year
1997, and $0 in outlays in fiscal year 1998.
(o) The House Committee on Science, Space, and
Technology shall report (1) changes in laws within its ju-
risdiction which provide spending authority as defined in
section 401(c)(2)(C) of the Congressional Budget Act of
1974, sufficient to reduce outlays, (2) changes in laws
within its jurisdiction which provide spending authority
other than as defined in section 401(c)(2)(C) of the Act,
sufficient to reduce outlays, or (3) any combination there-
of, as follows: $0 in outlays in fiscal year 1994, $0 in out-
lays in fiscal year 1995, $0 in outlays in fiscal year 1996,
$0 in outlays in fiscal year 1997, and $0 in outlays in
fiscal year 1998.
(p) The House Committee on Small Business shall
report (1) changes in laws within its jurisdiction which
provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $75,000,000 in outlays in fiscal year 1994,
$119,000,000 
in 
outlays 
in 
fiscal 
year 
1995,
$135,000,000 
in 
outlays 
in 
fiscal 
year 
1996,
HR 1885 IH
$166,000,000 in outlays in fiscal year 1997, and
$204,000,000 in outlays in fiscal year 1998.
(q) The House Committee on Veterans’ Affairs shall
report (1) changes in laws within its jurisdiction which
provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (2) changes in laws within its
jurisdiction which provide spending authority other than
as defined in section 401(c)(2)(C) of the Act, sufficient
to reduce outlays, or (3) any combination thereof, as fol-
lows: $52,000,000 in outlays in fiscal year 1994, $0 in
outlays in fiscal year 1995, $0 in outlays in fiscal year
1996, $0 in outlays in fiscal year 1997, and $0 in outlays
in fiscal year 1998.
(r)(1) The House Committee on Ways and Means
shall report (A) changes in laws within its jurisdiction
which provide spending authority as defined in section
401(c)(2)(C) of the Congressional Budget Act of 1974,
sufficient to reduce outlays, (B) changes in laws within
its jurisdiction which provide spending authority other
than as defined in section 401(c)(2)(C) of the Act, suffi-
cient to reduce outlays, or (C) any combination thereof,
as follows: $14,134,000,000 in outlays in fiscal year 1994,
$44,702,000,000 in outlays in fiscal year 1995,
$73,013,000,000 in outlays in fiscal year 1996,
HR 1885 IH
$103,437,000,000 in outlays in fiscal year 1997, and
$136,144,000,000 in outlays in fiscal year 1998.
(2) The House Committee on Ways and Means shall
report changes in laws within its jurisdiction sufficient to
increase revenues as follows: $0 in fiscal year 1994, $0
in fiscal year 1995, $0 in fiscal year 1996, $0 in fiscal
year 1997, and $0 in fiscal year 1998.
(3) In addition to the instructions in paragraphs (1)
and (2), the House Committee on Ways and Means shall
report changes in laws within its jurisdiction sufficient to
reduce the deficit as follows: $0 in fiscal year 1994, $0
in fiscal year 1995, $0 in fiscal year 1996, $0 in fiscal
year 1997, and $0 in fiscal year 1998.
TITLE V—REDUCTION IN UNNEC-
ESSARY 
AND 
BURDENSOME
REGULATIONS
SEC. 501. FINDINGS.
The Congress makes the following findings:
(1) The level of Federal regulation of the pri-
vate sector has dramatically increased in recent
years and there are over 50 Federal regulatory agen-
cies and nearly 5,000 new regulations are currently
being promulgated;
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(2) The Federal Government spends approxi-
mately $11 billion per year on the regulatory pro-
gram and employs over 122,000 regulators;
(3) The estimated cost of Federal regulation to
the private sector is $400,000,000,000 per year, or
over $4,000 per household;
(4) Increasing Federal regulations require pri-
vate enterprises to expend a growing level of re-
sources to meet regulatory mandates, rather than in-
vesting in new capital of expanding operations,
therefore inhibiting the creation of new jobs;
(5) Excessive Federal regulations have slowed
job creation and economic expansion in the United
States;
(6) Increased costs to business of Federal regu-
lations has generally led to an increase in the costs
of products to consumers;
(7) The increased level of Federal regulations of
private enterprises and the costs associated with
these regulations have hindered the ability of Amer-
ican businesses to compete effectively in the inter-
national marketplace;
(8) Past moratorium on unnecessary Federal
regulations were ordered to help spur economic
activity.
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SEC. 502. CONCURRENT RESOLUTION OF THE HOUSE.
Resolved by the House of Representatives (the Senate
concurring), That it is the sense of the Congress that the
President should extend for a period of one year the provi-
sions of the 90-day moratorium on new unnecessary regu-
lations ordered in the President’s ‘‘Memorandum on Re-
ducing the Burden of Government Regulations’’ dated
January 28, 1992.
SEC. 503. LEGISLATIVE AND REGULATORY ANALYSIS.
(a) Section 403(a) of the Congressional Budget Act
of 1974 (2 U.S.C. 653(a)) is amended in subsection (a)(1)
by striking ‘‘of the costs’’, and inserting ‘‘of the economic
costs to both the Federal Government and the private sec-
tor, including adjustments in employment levels,’’.
(b) Section 553(b) of the Government Organization
and Employees Act (5 U.S.C. 553(b)) is amended—
(1) in paragraph (2), after the phrase ‘‘is pro-
posed;’’ by striking ‘‘and’’;
(2) in paragraph (3), by striking ‘‘involved.’’
and inserting ‘‘involved; and’’;
(3) by inserting after paragraph (3) the follow-
ing new paragraph:
‘‘(4) an economic impact statement, as set forth
in subsection (f).’’.
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(c) Section 553(b) of the Government Organization
and Employees Act (5 U.S.C. 553(b)) is further amended
by inserting after subsection (e) the following new section:
‘‘(f) ECONOMIC IMPACT STATEMENT.—
‘‘(1) An economic impact statement shall be re-
quired in conjunction with the general notice of any
proposed rule making published in the Federal Reg-
ister, as set forth in subsection (b), whenever prac-
ticable, or where in the judgment of the head of the
rule making agency or the Director of the Office of
Management and Budget, the proposed rule will re-
sult in an annual combined cost to State and local
governments and the private sector in excess of
$200,000,000, or is likely to have exceptional fiscal
consequences for a particular geographic region or
level of government.
‘‘(2) The economic impact statement shall be
prepared by the agency in coordination with the Of-
fice of Management and Budget, and shall include
an estimation of the costs of the proposed rule that
would be incurred in carrying out such rule in the
fiscal year in which it is to become effective and in
each of the 4 fiscal years following such fiscal year,
together with the basis for such estimate, including
the—
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‘‘(A) economic cost to the private sector of
the proposed rule,
‘‘(B) resulting impact on employment lev-
els, and
‘‘(C) costs incurred by the State and local
governments in carrying out or complying with
such rule.
‘‘(3) This section shall become effective six
months after the date of enactment.’’.
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