Balanced Budget Enforcement Act of 1995

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Balancing the Budget Title II: Technical and Conforming Amendments Balanced Budget Enforcement Act of 1995 - Title I: Balancing the Budget - Part A: Purpose - Repeals parts C (Emergency Powers to Eliminate Deficits in Excess of Maximum Deficit Amount), D (Budgetary Treatment of Social Security Trust Funds), and E (Miscellaneous and Related Provisions) of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Part B: The Deficit Elimination Act of 1995 - Sets, for FY 1996 through 2002: (1) deficit reduction targets for direct spending and receipts legislation; and (2) discretionary funding limits, measured in terms of new budget authority. Permits adjustments, whenever appropriate, to discretionary funding limits to reflect the following: (1) changes in concepts; (2) changes in inflation; (3) expiring housing contracts; (4) emergencies; (5) new limits for 2002 and thereafter; and (6) transportation trust funds. Makes provisions: (1) for balancing the budget in 2002; and (2) preventing deficits after 2002. Provides for: (1) a spin-off law, if required, to balance the budget in 2002 and to prevent deficits after 2002; and…