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Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987

Act Details

Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 was, as a bill, a proposal (now, a piece of legislation) introduced on 1987-06-23 in the House of Commons and Senate respectively of the 100 United States Congress by Don Young in relation with: Armed forces and national security, Authorization, Budget deficits, Congress and Members of Congress, Congressional agencies, Congressional budget process, Congressional joint committees, Congressional salaries and pensions, Congressional-Presidential relations, Credit, Defense budgets, Defense contracts, Deposit insurance, Economics and public finance, Executive impoundment of appropriated funds, Executive reorganization, Federal budgets, Federal employees, Federal officials, Federally-guaranteed loans, Fiscal policy, Government corporations, Government lending, Government operations and politics, Government securities, Government spending reductions, Government trust funds, House of Representatives, House rules and procedure, Investment of public funds, Legislation, Medicare, Military bases, Military pay, Old age, survivors and disability insurance, Public debt, Reinsurance, Salaries, Senate, Senate rules and procedure, Social security taxes, Social welfare.

Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 became law (1) in the United States on 1987-09-29. It was referred to the following Committee(s): (2)

Senate Finance (SSFI)

Sponsor

Don Young, Representative from Alaska

The proposal had the following cosponsors:

Brockman (brock) Adams, Democrat, Senator, from Washington
Max Sieben Baucus, Democrat, Senator, from Montana
Lloyd Millard Bentsen, Democrat, Senator, from Texas
Jeff Bingaman, Senator, from New Mexico
David Lyle Boren, Democrat, Senator, from Oklahoma
Rudolph Eli (rudy) Boschwitz, Republican, Senator, from Minnesota
Dale Bumpers, Democrat, Senator, from Arkansas
Quentin Northrup Burdick, Democrat, Senator, from North Dakota
John Hubbard Chafee, Republican, Senator, from Rhode Island
Lawton Chiles, Senator, from Florida
William Thad Cochran, Republican, Senator, from Mississippi
Kent Conrad, Democrat, Senator, from North Dakota
Alfonse D'Amato, Senator, from New York
Dennis Webster Deconcini, Democrat, Senator, from Arizona
Robert Dole, Senator, from Kansas
Pete Domenici, Senator, from New Mexico
Dave Durenberger, Senator, from Minnesota
Daniel Jackson Evans, Republican, Senator, from Washington
J. James Exon, Democrat, Senator, from Nebraska
Edwin Jacob (jake) Garn, Republican, Senator, from Utah
Albert Arnold Gore, Democrat, Senator, from Tennessee
Chuck Grassley, Senator, from Iowa
Orrin Grant Hatch, Republican, Senator, from Utah
Howell Heflin, Senator, from Alabama
Henry John Heinz, Republican, Senator, from Pennsylvania
Ernest Frederick Hollings, Democrat, Senator, from South Carolina
Gordon John Humphrey, Republican, Senator, from New Hampshire
John Bennett Johnston, Democrat, Senator, from Louisiana
Frank Raleigh Lautenberg, Democrat, Senator, from New Jersey
Richard Lugar, Senator, from Indiana
John Sidney Mccain, Republican, Senator, from Arizona
James Albertus Mcclure, Republican, Senator, from Idaho
John Melcher, Democrat, Senator, from Montana
George John Mitchell, Democrat, Senator, from Maine
Daniel Patrick Moynihan, Democrat, Senator, from New York
Donald Lee Nickles, Republican, Senator, from Oklahoma
Larry Lee Pressler, Republican, Senator, from South Dakota
David Hampton Pryor, Democrat, Senator, from Arkansas
James Danforth (dan) Quayle, Republican, Senator, from Indiana
Harry Reid, Democrat, Senator, from Nevada
Donald Wayne Riegle, Democrat, Senator, from Michigan
Jr Roth, Senator, from Delaware
(james) Terry Sanford, Democrat, Senator, from North Carolina
Jim Sasser, Senator, from Tennessee
Paul Simon, Senator, from Illinois
Alan Kooi Simpson, Republican, Senator
Robert Theodore Stafford, Republican, Senator, from Vermont
John Cornelius Stennis, Democrat, Senator, from Mississippi
Theodore Fulton (ted) Stevens, Republican, Senator, from Alaska
Steven Douglas Symms, Republican, Senator, from Idaho
Strom Thurmond, Senator, from South Carolina
Lowell Palmer Weicker, Republican, Senator, from Connecticut

Act Overview

Number: 324 (3)
Official Title as Introduced: A joint resolution increasing the statutory limit on the public debt (4)
Short Title: Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987
Date First Introduced: 1987-06-23
Sponsor Name: Don Young
Assignment Process: See Committe Assignments (5)
Latest Major Activity/Action: Enacted
Date Enacted (signed, in general (6), by President): 1987-09-29
Type: hjres (7)
Main Topic: Economics and public finance
Related Bills: (8)
hres247-100, Reason: rule, Type: bill
Summary of Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987: Govtrack. Authored by the Congressional Research Service (CRS) of the Library of Congress.
Primary Source: Congress Website

Text of the Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987

(Conference report filed in House H. Rept. 100-313) Increases the public debt limit to $2800000000000. Title I: Deficit Reduction Procedures – Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 – Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to revise the sequestration procedures. Requires that the sequestration reports of the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) include estimates of the net deficit reductions made for the fiscal year. Requires the Director of OMB to identify and explain any differences between OMB and CBO estimates regarding: (1) the aggregate amount of required outlay reductions; (2) the aggregate amount of resources to be sequestered from defense accounts; and (3) the amount of sequesterable resources for any budget account that is to be reduced if such difference is greater than $5000000. Describes the methods to be used by the Director of OMB to calculate: (1) the amount of reductions in budgetary resources; (2) the aggregate outlay rate for defense programs; (3) the amount of outlays estimated for health insurance programs under title XVIII (Medicare) of the Social Security Act; and (4) the excess deficit. Modifies the procedures with regard to the use of economic assumptions budgetary resource-outlay ratios and other assumptions for the purpose of calculating the baseline. Sets forth the aggregate amount of outlay reductions required for FY 1988 through 1993. Places caps on the maximum amount of aggregate required outlay reductions for FY 1988 and 1989. Extends presidential discretion with respect to exempting military personnel accounts from sequestration and modifying funding for specific defense programs projects and activities. Requires the President to issue any necessary initial sequestration order on August 25 (currently September 1). Requires the President's initial and final sequestration orders to be in accordance with the initial and revised OMB (currently GAO) reports. Establishes a special rule concerning the reduction of payments under Medicare. Establishes special sequestration procedures for national defense. Extends presidential discretion with respect to exempting military personnel accounts from sequestration and modifying funding for specific defense programs projects and activities to all fiscal years covered by the revised timeframe (FY 1988-1993). Prohibits the closing of domestic military bases. Eliminates the President's option to modify or terminate existing defense contracts. Modifies the provisions dealing with the GAO compliance report to require that the Comptroller General: (1) assess whether the OMB's sequestration reports comply with the requirements of the Congressional Budget Act of 1974; and (2) make recommendations for improving sequestration procedures. Lists additional exempted programs and activities. Provides an expedited procedure for congressional action to cancel or modify a presidential sequestration order. Revises the maximum deficit amounts for FY 1988 through 1993. Freezes certain Medicare payment provisions. Title II: Budget Process Reform – Expresses the sense of the Congress calling for the adoption of legislation that will experiment with multiyear authorizations and two-year appropriations for selected agencies and accounts. States that transfers of Government actions from one fiscal year to another shall not be counted as savings for the purposes of the Congressional Budget and Impoundment Control Act of 1974 and the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings) with specified exemptions. Expresses the sense of the Congress calling for legislation to reform the financial management of the Government. Repeals the expiration date of the State and Local Government Cost Estimate Act of 1981. Permits budget deferrals only: (1) to provide for contingencies; (2) to achieve savings made possible through changes in requirements or greater efficiency; or (3) as specifically provided by law. States that a deferral may not be proposed for any period extending beyond the fiscal year in which the proposal is reported. Describes the content of any special message proposing such a deferral. Requires an affirmative vote of three-fifths of the Senate membership to sustain an appeal of the ruling of the Chair on a point or order under provisions of the Congressional Budget Act of 1974. Limits the President to one rescission proposal a year regarding substantially the same budget authority. Prohibits the Senate from considering any concurrent resolution on the budget that sets forth amounts and levels that are determined on the basis of more than one set of economic and technical assumptions. Requires the joint explanatory statement accompanying a conference report on a concurrent resolution on the budget to set forth the common economic assumptions upon which such statement and report are based. Directs CBO to study and report to all congressional committees of appropriate jurisdiction on Federal direct loan and loan guarantee programs for FY 1987 and 1988 including specified information on the cost of credit programs.

Act Notes

[Note 1] An Act (like Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987) or a resolution cannot become a law in the United States until it has been approved (passed) in identical form by both the House of Representatives and the Senate, as well as signed by the President (but see (5)). If the two bodys of the Congress versions of an Act are not identical, one of the bodies might decide to take a further vote to adopt the bill (see more about the Congress process here). An Act may be pass in identical form with or without amendments and with or without conference. (see more about Enrollment).
[Note 2] Proposals are referred to committees for preliminary consideration, then debated, amended, and passed (or rejected) by the full House or Senate. To prevent endless shuttling of bills between the House and Senate, bills like Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 are referred to joint committees made up of members of both houses.
[Note 3] For more information regarding this legislative proposal, go to THOMAS, select “Bill Number,” search on (Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987)
[Note 4] A joint resolution increasing the statutory limit on the public debt. The current official title of a bill is always present, assigned at introduction (for example, in this case, on 1987-06-23) and can be revised any time. This type of titles are sentences.
[Note 5] The Act is referred to the appropriate committee by the Speaker of any of the two Houses. Bills are placed on the calendar of the committee to which they have been assigned. See Assignment Process.
[Note 6] Regarding exceptions to President´s approval, a bill that is not signed (returned unsigned) by the President can still become law if at lest two thirds of each of the two bodys of the Congress votes to pass it, which is an infrequent case. See also Presidential Veto.
[Note 7] Legislative Proposal types can be: hr, hres, hjres, hconres, s, sres, sjres, sconres. A bill originating in the Senate is designated by the letter “S”, and a bill originating from the House of Representatives begins with “H.R.”, followed, in both cases, by its individual number which it retains throughout all its parliamentary process.
[Note 8] For information regarding related bill/s to Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987, go to THOMAS.

Analysis

No analysis (criticism, advocacy, etc.) about Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 submitted yet.

Armed forces and national security
Authorization
Budget deficits
Congress and Members of Congress
Congressional agencies
Congressional budget process
Congressional joint committees
Congressional salaries and pensions
Congressional-Presidential relations
Credit
Defense budgets
Defense contracts
Deposit insurance
Economics and public finance
Executive impoundment of appropriated funds
Executive reorganization
Federal budgets
Federal employees
Federal officials
Federally-guaranteed loans
Fiscal policy
Government corporations
Government lending
Government operations and politics
Government securities
Government spending reductions
Government trust funds
House of Representatives
House rules and procedure
Investment of public funds
Legislation
Medicare
Military bases
Military pay
Old age, survivors and disability insurance
Public debt
Reinsurance
Salaries
Senate
Senate rules and procedure
Social security taxes
Social welfare

Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987