January 28, 1976
Page 1254
ANNOUNCEMENT OF HEARINGS ON FIRST CONCURRENT RESOLUTION ON THE BUDGET
Mr. MUSKIE. Mr. President, the Senate Budget Committee begins public hearings on the first concurrent resolution on the budget for fiscal 1977 next Tuesday, February 3.
These hearings will provide valuable information to the Budget Committee for making decisions on the first concurrent resolution on the budget, which must be reported by the committee to the Senate by April 15. This first concurrent resolution on the budget will set targets for total budget outlays and total new budget authority as well as targets for spending in each major functional category of the budget. The first resolution will also specify targets for revenues for the coming fiscal year as well as the surplus or deficit in the budget which is appropriate in light of economic conditions and all other relevant factors.
Our hearings next week will focus primarily on the administration's fiscal year 1977 budget proposals.
On Tuesday, February 3; OMB Director James T. Lynn will testify in room 318, Russell Senate Office Building.
On Wednesday, February 4, Congressional Budget Office Director Alice M. Rivlin will testify in room 357, Russell Senate Office Building.
On Thursday, February 5, Treasury Secretary William Simon and Council of Economic Advisers Chairman Alan Greenspan will testify in room 1114, Dirksen Senate Office Building.
All hearings will begin at 10 a.m. Further hearings on the first concurrent resolution will be announced next week.