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Budget Reconciliation: Issues Concerning the 1990 Reconciliation Act

  Premium   Download PDF Now (51 pages)
Report Type Reports and Testimonies
Report Date Oct. 7, 1994
Report No. AIMD-95-3
Subject
Summary:

When the Omnibus Budget Reconciliation Act of 1990 was passed, overall savings from the multiyear deficit reduction agreement were pegged at about $500 billion. However, the deficit has not dropped to the levels expected at that time. For example, the Congressional Budget Office (CBO) projections in late 1990 showed that the fiscal year 1993 deficit would be $170 billion, but the actual deficit was $255 billion. This report focuses on issues surrounding one component of the deficit reduction agreement--$98.8 billion in mandatory spending program reductions and increases in user fee collections. GAO (1) examines the reasons for shortfalls between deficits projected at the time of the act and actual deficits experienced since then, (2) ascertains whether actual results of the 38 individual act provisions GAO examined were achieved, and (3) describes CBO and agency roles and responsibilities in the act's reconciliation process as they affected the act's contribution to deficit reduction.

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