Entitlement Control Act of 1994

[AI summary unavailable — showing source text] Entitlement Control Act of 1994 - Directs the Director of the Office of Management and Budget (OMB) to report to the Congress on the direct spending targets for each of FY 1995 through 2000. Requires inclusion in such targets of all mandatory Federal spending except deposit insurance and net interest. (Sec. 4) Requires the OMB Director to establish direct spending limits (caps) for FY 1995 through 2000, allowing for growth each year to reflect the consumer price index, the number of beneficiaries, and an additional growth allowance of one percent per year through 1998. Requires further cap adjustments to reflect increased direct spending resulting from any health reform legislation. Requires the President's budget to reflect the same adjustments as OMB's. (Sec. 5) Requires the President's budget to include a proposal to offset any OMB-projected excess of the caps for each year. Authorizes the President to propose, with justification in writing, increases in cap levels to allow for all or part of such excess. (Sec. 6) Requires the Congress to: (1) pass a budget resolution including reconciliation instructions to offset any OMB-projected excess in entitlement spending for each fiscal…