Honest and Balanced Budget Act - Amends the Congressional Budget and Impoundment Control Act of 1974 to exclude, beginning with FY 1990, Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund receipts and outlays from Federal deficit determinations for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
Increases the permissible maximum deficit amounts for FY 1990 through 1993. Establishes allowable maximum deficits for FY 1994 and 1995, to reach zero with respect to FY 1996.
Introduced in House
Introduced in House
Referred to House Committee on Government Operations.
Referred to Subcommittee on Legislation and National Security.
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