A bill to place a limitation on expenditures and net lending for the fiscal year ending June 30,1975.

Places a limitation of $299,000,000,000 on expenditures and net lending under the Budget of the United States for the fiscal year ending June 30, 1975.

Provides that a pro rata reduction shall be applied to all appropriations other than for interest on the public debt, social security, and veteran benefits as necessary to effectuate the provisions of this Act.