A bill to amend part C of the Balanced Budget and Emergency Deficit Control Act of 1985 to provide that cost-of-living increases in benefits under the civil service, military, and other federal retirement and disability programs shall be exempt from reduction pursuant to a sequestration order thereunder respecting fiscal year 1986, and for other purposes.

[AI summary unavailable — showing source text] Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to exempt cost-of-living increases in Federal retirement and disability programs from reduction under the President's sequestration order for FY 1986. Provides for reducing the outlays of each agency to offset the increased costs.…