Baseline Reform Act of 1994

[AI summary unavailable — showing source text] Full Budget Disclosure Act of 1994 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to create: (1) a current policy baseline for projecting current-year spending; and (2) a current funding baseline for projecting spending without any inflation adjustment except for expiring housing contracts. Requires the President's budget to include: (1) estimated expenditures and appropriations for the current year; (2) a certain comparison of levels of estimated expenditures and proposed appropriations that includes the proposed increase or decrease in spending in percentage terms. Amends the Congressional Budget Act of 1974 to make conforming changes to the development of the concurrent resolution on the budget. Requires the Congressional Budget Office (CBO) to include in reports to budget committees certain current year comparisons and a table on sources of spending growth under current law in total mandatory spending for the budget year and the ensuing four fiscal years. Requires the CBO to include in the annual report to the Congress all direct spending programs. Requires the CBO to include in cost estimates of pending legislation a comparis…