#MULTIPARTISAN BALANCED BUDGET ACT OF 2015
An Act to devise the budget and fund the Federal Government of the United States through fiscal year 2016 and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
(1) This Act shall be cited as the “Multipartisan Balanced Budget Act of 2015.”
SEC 2. ACT DECLARED AS BUDGET
(1) Congress declares this Act, containing the relevant appropriations and prohibitions on spending, is the federal budget for fiscal year 2016 and shall go into effect upon passage and remain in force until the expiration of the 2016 fiscal year.
(2) In the event of Congress failing to pass a budget for fiscal year 2017, this budget shall be used, indexed for inflation according to the consumer price index.
SEC. 3. ACCOUNTING OF REVENUE AND RECEIPTS
(1) It is declared that $3,637,000,000,000 is the appropriate revenue for fiscal year 2016.
(2) It is declared that this expected and appropriate revenue for fiscal year 2016 should consist of the following receipts:
(a) Individual income taxes in the amount of $1,665,000,000,000;
(b) Social Security and other payroll taxes in the amount of $1,110,000,000,000;
(c) Corporate income taxes in the amount of $476,000,000,000;
(d) Ad-valorem taxes in the amount of $217,000,000,000;
(e) Carbon and methane taxes in the amount of $62,000,000,000;
(f) Business and other revenue in the amount of $107,200,000,000.
SEC. 4. ACCOUNTING OF TOTAL OUTLAYS AND SURPLUS USE
(1) It is declared that $3,605,300,000,000 is the appropriate outlays for fiscal year 2016.
(2) It is declared that $32,000,000,000 is the appropriate surplus for fiscal year 2016.
(3) This surplus shall go towards paying down the debt of the United States, and the Department of the Treasury shall administer such payments.
(4) No more than five percent (5%) of the funds appropriated to any department or agency under this Act, and none of the funds in any trust fund to which funds are appropriated in this Act, shall be expended for administrative overheads within any given department or agency, unless explicitly authorized by this Act or an executive order of the President of the United States.
SEC. 5. BUDGET AUTHORITY OF THE DEPARTMENT OF AGRICULTURE
(1) The budget authority for the Department of Agriculture is set at $99,000,000,000.
(2) $22,000,000,000 of this shall constitute discretionary spending
... keep reading on reddit ➡Introduced: Sponsor: Rep. John Yarmuth [D-KY3]
This bill was referred to the House Committee on Rules, House Committee on Ways and Means, and one other committee which will consider it before sending it to the House floor for consideration.
Rep. John Yarmuth [D-KY3] is the chair of the House Committee on the Budget.
##MULTIPARTISAN BALANCED BUDGET ACT OF 2015
An Act to devise the budget and fund the Federal Government of the United States through fiscal year 2016 and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
(1) This Act shall be cited as the “Multipartisan Balanced Budget Act of 2015.”
SEC 2. ACT DECLARED AS BUDGET
(1) Congress declares this Act, containing the relevant appropriations and prohibitions on spending, is the federal budget for fiscal year 2016 and shall go into effect upon passage and remain in force until the expiration of the 2016 fiscal year.
(2) In the event of Congress failing to pass a budget for fiscal year 2017, this budget shall be used, indexed for inflation according to the consumer price index.
SEC. 3. ACCOUNTING OF REVENUE AND RECEPITS
(1) It is declared that $3,637,000,000,000 is the appropriate revenue for fiscal year 2016.
(2) It is declared that this expected and appropriate revenue for fiscal year 2016 should consist of the following receipts:
(a) Individual income taxes in the amount of $1,665,000,000,000;
(b) Social Security and other payroll taxes in the amount of $1,110,000,000,000;
(c) Corporate income taxes in the amount of $476,000,000,000;
(d) Ad-valorem taxes in the amount of $217,000,000,000;
(e) Carbon and methane taxes in the amount of $62,000,000,000;
(f) Business and other revenue in the amount of $107,200,000,000.
SEC. 3. ACCOUNTING OF TOTAL OUTLAYS AND SURPLUS USE
(1) It is declared that $3,605,300,000,000 is the appropriate outlays for fiscal year 2016.
(2) It is declared that $32,000,000,000 is the appropriate surplus for fiscal year 2016.
(3) This surplus shall go towards paying down the debt of the United States, and the Department of the Treasury shall administer such payments.
(4) No more than five percent (5%) of the funds appropriated to any department or agency under this Act, and none of the funds in any trust fund to which funds are appropriated in this Act, shall be expended for administrative overheads within any given department or agency, unless explicitly authorized by this Act or an executive order of the President of the United States.
SEC. 4. BUDGET AUTHORITY OF THE DEPARTMENT OF AGRICULTURE
(1) The budget authority for the Department of Agriculture is set at $99,000,000,000.
(2) $22,000,000,000 of this shall constitute discretionary spendin
... keep reading on reddit ➡Introduced: Sponsor: Rep. Leonard Lance [R-NJ7]
This bill is in the first stage of the legislative process. It was introduced into Congress on July 18, 2013. It will typically be considered by committee next.
Introduced: Sponsor: Rep. Allen West [R-FL22]
This bill is in the first stage of the legislative process. It was introduced into Congress on September 10, 2012. It will typically be considered by committee next.
Introduced: Sponsor: Rep. Hansen Clarke [D-MI13]
This bill is in the first stage of the legislative process. It was introduced into Congress on December 20, 2012. It will typically be considered by committee next.
