Four Percent Solution Budget Act

[AI summary unavailable — showing source text] Four Percent Solution Budget Act - Title I: The Four Percent Solution - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to impose a a four-percent cap on increases in outlays from the preceding year. Extends certain provisions and the terminating date of such Act through FY 1997 (currently, FY 1993). Excludes receipts and disbursements of the Resolution Trust Corporation from the budget deficit or any other totals of the budget. Amends the Congressional Budget Act to adjust the allowable maximum deficit amounts until there is a zero deficit in FY 1997. Requires the President to issue a midyear sequester on March 15 necessary to meet deficit and outlay targets. Requires the Congressional Budget Office and the Office of Management and Budget to make specified preliminary reports to the President before the issuance of such sequester. Title II: Preparation of the Budget - Amends Federal law to revise required budget contents with respect to estimated expenditures and proposed appropriations for the current fiscal year and the next fiscal year. Amends the Congressional Budget Act of 1974 to require the starting point for deliberations in…