Fiscal Integrity Act

[AI summary unavailable — showing source text] Fiscal Integrity Act - Expresses the findings of Congress, including that allowing the continuation of policies which lessen the fiscal integrity of the Government is detrimental to the general welfare of the people and ought, therefore, to be ended. Title I: Revenue and Budget Outlays Control - Establishes for each fiscal year a revenue and budget outlays limit for the Government. States that no appropriation shall be made for any fiscal year by the Congress in excess of the revenue and budget outlays limit for such fiscal year. Provides that if the revenue of the Government exceeds the limit established, the excess shall be used for the payment of the public debt of the Government. States that the revenue and budget outlays limit shall be derived by multiplying the estimated aggregate national income for such fiscal year by the Federal revenue factor. Defines "Federal revenue factor". Title II: Monetary Supply Control - Directs the Board of Governors of the Federal Reserve System to insure that any rate of increase in the amount of currency in circulation and demand deposits is not greater than 1 1/4 percent per quarter fiscal year. Title III: Fiscal Disclosure - States that a bi…