Page:United States Statutes at Large Volume 94 Part 3.djvu/1043

 CONCURRENT RESOLUTIONS—NOV. 20, 1980

94 STAT. 3687

(18) Undistributed Offsetting Receipts (950): Fiscal year 1982: (A) New budget authority, -$27,400,000,000; (B) Outlays, -$27,400,000,000. Fiscal year 1983: (A) New budget authority, -$29,700,000,000; (B) Outlays, -$29,700,000,000. GENERAL PROVISIONS

SEC. 5. There is established a Congressional Federal Credit Budget for fiscal year 1981. (a) The appropriate levels of total Federal credit activity for fiscal year 1981 are: (1) New direct loan obligations, $73,500,000,000; (2) New primary loan guarantee commitments, $82,800,000,000; (3) New secondary loan guarantee commitments, $53,000,000,000. (b) It is the sense of the Congress that the President and the Congress, through the appropriations process, should limit in fiscal year 1981 the off-budget lending activity of the Federal Government to a level not to exceed $28,900,000,000, the on-budget lending activity to a level not to exceed $44,600,000,000, new primary loan guarantee commitments to a level not to exceed $82,800,000,000, and new secondary loan guarantee commitments to a level not to exceed $53,000,000,000. SEC. 6, The Congress recognizes that (other than for certain minor changes adopted at the start of the Ninety-sixth Congress as revisions to the rules of the House) there have been no changes to the Budget Act of 1974. It is the sense of the Congress that after six years of 3i use I33i note. experience under the Budget Act, the time is right for considering revisions and modifications to the Budget Act so as to improve the congressional budget process. Accordingly, the Congress believes that a review of the Budget Act and the congcessional budget process should be undertaken without delay. SEC. 7. Pursuant to section 310 of the Budget Act, it shall not be in 3i use 1331. order in either the House of Representatives or the Senate to consider any resolution providing for the adjournment sine die of either House unless action has been completed on H.R. 7765, the Omnibus Reconciliation Act of 1980. Ante, p. 2599. SEC. 8. It is the sense of the Congress that due to the extreme rate of inflation in the United States economy, the possible inflationary effects of Federal regulations and legislation shall be carefully monitored as part of a program of fiscal restraint. Inflationary effects should therefore be a prime consideration in developing both regulations and legislation. In order to coordinate the aggregate economic impact of regulations with Federal fiscal policy, it is the sense of Congress that the President should implement a "Zero Net Inflation Impact" policy for the regulations promulgated in the remainder of fiscal year 1981. This policy will require the President to keep an accounting for fiscal year 1981 of all new regulations which have a significant, measurable cost to the economy. Cost-saving modifications need not affect the same area of economic activity as the costinducing regulations. The President should institute an exemption procedure to assure the promulgation of regulations necessary to avert any imminent threat to health and safety. It is also the sense of

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