Deficit Reduction Lock-box Act of 1995
| Date | Chamber | What was voted on | Result | Yes–No | |
|---|---|---|---|---|---|
| Sep 13, 1995 | House · vote #658 | On Passage | Passed | 364–59 | See who voted → |
Deficit Reduction Lock-box Act of 1995 - Amends the Congressional Budget Act of 1974 to establish in the Congressional Budget Office the Deficit Reduction Lock-box Account which shall be divided into a subaccount for each corresponding subcommittee of the Committees on Appropriations. Requires each subaccount to consist of three entries: (1) the House Lock-box Balance; (2) the Senate Lock-box Balance; and (3) the Joint House-Senate Lock-box Balance. Requires the Director of the Congressional Budget Office, upon the engrossment of any appropriation bill by the House of Representatives and upon the engrossment of that bill by the Senate, to 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. Specifies the amounts to be credited to the Joint House- Senate Lock-box Balance.
(Sec. 3) Requires a running tally to be available to Members of the House of Representatives, during the consideration of any appropriations bill by the House, of the amendments reflecting increases and decreases of budget authority in such bill as reported.
(Sec. 4) Provides for the downward adjustment of: (1) allocations for the House and Senate upon the engrossment of Senate amendments to any appropriation bill; and (2) suballocations, whenever a such a downward adjustment is made to an allocation.
(Sec. 5) Requires the Director of the Congressional Budget Office to include an up-to-date tabulation of the amounts contained in the Deficit Reduction Lock-box Account and each subaccount in periodic score keeping reports.
(Sec. 6) Provides for the downward adjustment of discretionary spending limits, as calculated by the Director of the Office of Management and Budget.
(Sec. 7) Makes this Act applicable to all appropriation bills making appropriations for FY 1996 and all subsequent fiscal years. Makes special retroactive provisions for any appropriation bill for FY 1996 engrossed by the House after this bill was engrossed, but before the enactment of this bill.
Received in the Senate and read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of August 4, 1977, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged.