HR 4 105th Congress House Transportation and Public Works Airports Authorization Budget deficits Congress Congressional budget Congressional reporting requirements Deficit financing Deficit reduction Economics and Public Finance Federal aid highway program Federal aid to transportation Federal budgets Federal receipts and expenditures Finance and Financial Sector Government spending reductions Government trust funds Harbors Highway finance Infrastructure

Truth in Budgeting Act

Introduced: January 7, 1997 See on congress.gov

Everywhere this bill has been 7 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 5, 1997

Ordered to be Reported by Voice Vote.

Feb 5, 1997

Committee Consideration and Mark-up Session Held.

Jan 7, 1997

Referred to House Budget

Jan 7, 1997

Referred to House Transportation and Infrastructure

Jan 7, 1997

Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Jan 7, 1997

Sponsor introductory remarks on measure. (CR E35-36)

Jan 7, 1997

Introduced in House

Plain-English summary Congressional Research Service

Truth in Budgeting Act - Prohibits (subject to the Line Item Veto Act of 1996) the receipts and disbursements of the Highway Trust Fund, the Airport and Airway Trust Fund, the Inland Waterways Trust Fund, and the Harbor Maintenance Trust Fund from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of the Federal budget as submitted by the President, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Exempts such trust funds from any general statutory budget outlays limitation.

Amends the Internal Revenue Code to limit the amount of interest that may be credited to such trust funds.

Amends Federal transportation law to require the Secretary of Transportation to estimate annually: (1) what, but for this Act, would be at the close of the next fiscal year the amount of unfunded aviation authorizations; and (2) the net aviation receipts at the close of such year.

What's happening now February 5, 1997

Ordered to be Reported by Voice Vote.

Committees of jurisdiction 2