Spending Reduction Enforcement Act of 1994

[AI summary unavailable — showing source text] Spending Reduction Enforcement Act of 1994 - Establishes the Spending Reduction Commission to propose cost savings and changes in law to achieve at least $65 billion of budget outlay reductions for the budget year and each outyear until a balanced budget is reached. Sets forth the procedure for implementation of the Commission's recommendations by the Office of Management and Budget, the President, and the Congress. Makes any budget outlay reductions permanent. Sets forth sequestration procedures if the full amount of required savings is not achieved by the end of a session of Congress.…