To amend the Congressional Budget and Impoundment Control Act of 1974 to phase in the exclusion of receipts and disbursements of the social security trust funds when calculating maximum deficit amounts.

[AI summary unavailable — showing source text] Amends the Congressional Budget and Impoundment Control Act of 1974 to phase in, by FY 1995, the exclusion of receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund when calculating maximum deficit amounts. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend until September 30, 1995, the emergency powers to eliminate deficits in excess of maximum deficit amounts.…