Common Contracts
1 similar Joint Statement contracts
JOINT STATEMENTJoint Statement • January 22nd, 2017
The conference agreement adds new enforcement mechanisms for discretionary spending entitlements, and receipts to preserve the deficit reduction achieved by this Act over the next five years. The conference agreement adds a pay- as-you-go mechanism to ensure that any new entitlement or receipt legislation will not increase the deficit. The conference agreement also sets forth limits (caps) on discretionary spending provided in the annual appropriations process for each of fiscal years 1991 through 1995, and enforces these through a mechanism to require across-the-board cuts within any category to make up for any overages. To enforce deficit targets in fiscal years 1994 and 1995, the conference agreement extends the existing Gramm-Rudman-Hollings mechanism through fiscal year 1995, but with new procedures to allow adjustment for revised economic and technical estimates, in 1994 and 1995 at the President’s option.
