Balanced Deficit Reduction Act of 1990

[AI summary unavailable — showing source text] Balanced Deficit Reduction Act of 1990 - Title I: Sequestration - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) with respect to the sequestration formula to provide for determining revenue increases and outlay reductions by taking into account the amount of unachieved deficit reduction. Amends the Internal Revenue Code to impose a tax surcharge on each taxpayer's income in each year that a sequestration report shows an unachieved deficit reduction. Requires the sequestration of full-year appropriation bills which are enacted after the President's final order on reductions and sequestration. Title II: Tightened Scoring Rules and Multiyear Deficit Reduction - Amends the Congressional Budget Act of 1974 to require the concurrent resolution on the budget to contain planning levels for each of the four (currently, two) ensuing fiscal years. Revises the reconciliation directives to be included in budget resolutions. Requires concurrent resolutions on the budget to establish specified deficit reductions for the current fiscal year and the four ensuing fiscal years. Provides for computing the net deficit reduction. Requires the joint expla…