I
103D CONGRESS
2D SESSION
H. R. 4057
To amend the Congressional Budget and Impoundment Control Act of 1974
to create a deficit reduction account and to reduce the discretionary
spending limits, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
MARCH 16, 1994
Mr. SCHUMER (for himself, Mr. CRAPO, Mr. BREWSTER, Mr. INGLIS of South
Carolina, Mr. EDWARDS of Texas, Mrs. MORELLA, Ms. HARMAN, and Mr.
HASTERT) introduced the following bill; which was referred jointly to the
Committees on Government Operations and Rules
A BILL
To amend the Congressional Budget and Impoundment Con-
trol Act of 1974 to create a deficit reduction account
and to reduce the discretionary spending limits, and for
other purposes.
Be it enacted by the Senate and House of Representa-
tives 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 1994’’.
SEC. 2. DEFICIT REDUCTION TRUST FUND.
(a) ESTABLISHMENT.—A trust fund known as the
‘‘Deficit Reduction Trust Fund’’ (hereinafter 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 provi-
sion 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 trans-
ferred from the general fund to the Fund an amount equal
to that amount.
(d) USE OF MONEYS IN THE FUND.—Notwithstand-
ing 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. 3. DOWNWARD ADJUSTMENTS OF DISCRETIONARY
SPENDING LIMITS.
The discretionary spending limit for new budget au-
thority 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 cal-
culated by the Director of the Office of Management and
Budget. The adjusted discretionary spending limit for out-
lays 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. All such reductions
shall occur on the same day that the amounts triggering
the reductions are transferred to the Fund.
SEC. 4. DEFICIT REDUCTION LOCK-BOX PROVISIONS OF AP-
PROPRIATION 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 general 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 dol-
lar 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 sub-
committee of jurisdiction over the bill of the Committee
on Appropriations minus the aggregate level of budget au-
thority or outlays contained in the bill being considered.
‘‘(b) Whenever a Member of either House of Congress
offers an amendment (whether in subcommittee, commit-
tee, or on the floor) to an appropriation bill to reduce
spending, that reduction shall be placed in the deficit re-
duction lock-box unless that Member indicates that it is
to be utilized for another program, project, or activity cov-
ered 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.
‘‘(c) It shall not be in order in the House of Rep-
resentatives 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 con-
tents set forth in section 1(b) of the Congressional Budget
and Impoundment Control Act of 1974 is amended by in-
serting after the item relating to section 313 the following
new item:
‘‘Sec. 314. Deficit reduction lock-box provisions of appropriation measures.’’.
SEC. 5. CBO TRACKING.
Section 202 of the Congressional Budget Act of 1974
is amended by adding at the end the following new sub-
section:
‘‘(i) SCOREKEEPING
ASSISTANCE.—To facilitate
compliance by the Committees on Appropriations with sec-
tion 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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