Page:United States Statutes at Large Volume 97.djvu/1554

 97 STAT. 1522 CONCURRENT RESOLUTIONS—JUNE 23, 1983 2 USC 651. gressional Budget Act of 1974 made pursuant to section 302(a) of 2 USC 633. such Act for fiscal year 1984 to be exceeded. (c) The provisions of this section shall cease to apply when Con- gress completes action on a subsequent concurrent resolution on the budget for fiscal year 1984 pursuant to section 304 or 310 of the 2 USC 635, 641. Congressional Budget Act of 1974. SEC. 6. Monetary Policy. — Inasmuch as— (1) there is a need for coordination between fiscal and mone- tary policy, (2) actual and projected budget deficits have placed a heavy burden on monetary policy, (3) any reduction in the budget deficit brought about by this budget resolution will reduce pressures on monetary policy, (4) there is a need for vigorous economic growth consistent with reasonable price stability, (5) the Banking and Budget Committees of the respective Houses require information regarding the Federal Reserve's monetary policy and the economic assumptions consistent with that policy, and (6) the Budget Committees are, therefore, interested in the recommendations of the Banking Committees of the respective Houses with respect to such information, the House Committee on Banking, Finance and Urban Affairs, and the Senate Committee on Banking, Housing, and Urban Affairs are requested to report to their respective bodies, no later than Septem- ber 30, 1983, a resolution expressing the sense of the Congress as to (A) the coordination of the Federal Reserve's monetary policy with the fiscal policy reflected in this budget resolution and the appropri- ate information regarding the economic assumptions and goals of the Federal Reserve System, (B) the appropriate information to implement this policy coordination including, but not limited to, the effects of the Federal Reserve's monetary policy on the economy, and (C) any other matters pertaining to the Federal Reserve's execution or congressional oversight of monetary policy, as the above Committees deem appropriate. SEC. 7. It is the sense of the Congress that, in light of budget restraint, limited resources, and the need to foster economic growth, the House Committee on Armed Services should initiate a thorough review of military retirement programs which constitute a major sector of the defense budget and should recommend changes which would result in reduced spending under these programs. SEC. 8. It is the sense of the Congress that the President and the Congress, through the appropriations process, should limit the on-budget new direct loan obligations of the Federal Government to an amount not to exceed $38,150,000,000 in fiscal year 1983 and $31,000,000,000 in fiscal year 1984; off-budget new direct loan obliga- tions to an amount not to exceed $16,100,000,000 in fiscal year 1983 and $16,900,000,000 in fiscal year 1984; new primary loan guarantee commitments to an amount not to exceed $99,600,000,000 in fiscal year 1983 and $101,700,000,000 in fiscal year 1984; and new second- ary loan guarantee commitments to an amount not to exceed $68,250,000,000 in fiscal year 1983 and $68,250,000,000 in fiscal year 1984. It is further the sense of the Congress that the President and the Congress should limit total Federal Financing Bank origination of direct loans guaranteed by other Federal agencies to $15,000,000,000 in fiscal year 1983 and $15,500,000,000 in fiscal year 1984, and Federal Financing Bank purchases of certificates of bene- ficial ownership from Federal agencies to $12,050,000,000 in fiscal

�