Page:United States Statutes at Large Volume 111 Part 3.djvu/652

 Ill STAT. 2740 CONCURRENT RESOLUTIONS-JUNE 5, 1997 reports are deemed to be inconsistent, remedial efforts shall be made by all parties to assure consistency. Such efforts shall include bipartisan Leadership consultation and concurrence on amendments and scheduling as necessary.", (b) SENSE OF CONGRESS.— (1) 10-YEAR COST.—The 10-year cost of the tax reconciliation bill resulting from this resolution shall not exceed $250,000,000,000 and any revenue loss shall be certified by the Joint Committee on Taxation in consultation and cooperation with the Office of Tax Analysis of the Department of Treasury. (2) 5-YEAR COST. —The 5-year cost of the tax reconciliation bill resulting from this resolution shall be $85,000,000,000 and any revenue loss shall be certified by the Joint Committee on Taxation in consultation and cooperation with the Office of Tax Analysis of the Department of Treasury. Subtitle B—Sense of the House SEC. 306. SENSE OF THE HOUSE ON COMMISSION ON LONG-TERM BUDGETARY PROBLEMS. (a) FINDINGS. —The House finds that— (1) achieving a balanced budget by fiscal year 2002 is only the first step necessary to restore our Nation's economic prosperity; (2) the imminent retirement of the baby-boom generation will greatly increase the demand for government services; (3) this burden will be borne by a relatively smaller work force resulting in an unprecedented intergenerational transfer of financial resources; (4) the rising demand for retirement and medical benefits will quickly jeopardize the solvency of the Medicare, Social Security, and Federal Retirement Trust Funds; and (5) the Congressional Budget Office has estimated that marginal tax rates would have to increase by 50 percent over the next 5 years to cover the long-term projected costs of retirement and health benefits. (b) SENSE OF THE HOUSE.— It is the sense of the House that legislation should be enacted to create a commission to assess long-term budgetary problems, their implications for both the baby- boom generation and tomorrow's workforce, and make such recommendations as it deems appropriate to ensure our Nation's future prosperity. SEC. 307. SENSE OF THE HOUSE ON CORPORATE WELFARE. (a) FINDINGS. —The House finds that the functional levels and aggregates in this budget resolution assume that— (1) the Federal Government supports profit-making enterprises and industries through billions of dollars in payments, benefits, and programs; (2) many of these subsidies do not serve a clear and compelling public interest; (3) corporate subsidies frequently provide unfair competitive advantages to certain industries and industry segments; and

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