97th Congress > Senate > Vote 783
Sponsor: BIDEN, Joseph Robinette, Jr. (D-DE)
Description: TO AMEND S. J. RES. 58 WITH AN AMENDMENT IN THE NATURE OF A SUBSTITUTE. THE BIDEN SUBSTITUTE AMENDMENT PROVIDES THAT TOTAL OUTLAYS OF THE UNITED STATES DURING ANY FISCAL YEAR SHALL NOT INCREASE AT A RATE GREATER THAN THE RATE OF INCREASE IN THE GROSS NATIONAL PRODUCT IN THE LAST CALENDAR YEAR ENDING BEFORE SUCH FISCAL YEAR, UNLESS BY A THREE-FITHS VOTE IN BOTH HOUSES OF CONGRESS, CONGRESS SHALL HAVE AUTHORIZED A SPECIFIC ADDITIONAL AMOUNT OF OUTLAYS. THE BIDEN SUBSTITUTE ALSO PROVIDES THAT THE ALLOWABLE RATE OF INCREASE IN OUTLAYS FOR ANY FISCAL YEAR SET BY SUBSECTION (A) SHALL BE REDUCED, IF THE RATE OF INFLATION IN THE PRECEEDING CALENDAR YEAR IS GREATER THAN 6 PERCENT, BY ONE QUARTER OF THE AMOUNT BY WHICH THE INFLATION RATE EXCEEDS 6 PERCENT. AND, FINALLY, THE BIDEN SUBSTITUTE PROVIDES THAT TOTAL OUTLAYS SHALL INCLUDE ALL OUTLAYS OF THE UNITED STATES EXCEPT THOSE FOR REPAYMENT OF DEBT PRINCIPAL. SEE NOTE(S) 36
Original source documents: Digest of the Congressional Record vol. 104, p. 9678;
