Budget Control Act of 1994

[AI summary unavailable — showing source text] Budget Control Act of 1994 - Directs the Director of the Office of Management and Budget (OMB) to submit a report to the Congress setting forth projected direct spending targets for FY 1994 through 1997. Makes the initial targets equal to the total outlays for all direct spending (except net interest and deposit insurance) as determined above by OMB, subject to annual adjustment for increases in numbers of direct spending program beneficiaries, and for revenue and emergency legislation. Requires an annual review of direct spending and receipts by the President as part of the budget process. Specifies the information to be included in the President's budget, such as information on target adjustments, and, in appropriate cases such as where direct spending outlays for the current year are projected to exceed applicable targets, a special direct spending message that includes a draft resolution recommending reduced outlays or increased revenues by specified amounts. Sets forth procedures governing congressional consideration of such recommendations, including: (1) requirements for a separate vote in the House of Representatives to increase direct spending targets; and (2) special rule…