The 1987 budget resolution, which is the federal government's fiscal blueprint for the financial year beginning Oct. 1, was passed by the House on a vote of 245 for and 179 against and sent to conference with the Senate.
Authored by the Democratic majority, the plan (H Con Res 337) calls for spending of $994.3 billion, defense outlays of $285 billion, $13.2 billion in new revenue and a projected annual deficit of $137.5 billion.
In conference, it will confront the budget plan approved by the Republican-controlled Senate, which sets military spending at the higher level of $301 billion, and anticipates a higher annual deficit, $144 billion. The House and Senate proposals would increase revenue (largely by unspecified tax hikes) by approximately the same amount, although the House specifies that $4.7 billion of its new revenues could be used only to reduce the deficit.
Both House and Senate budgets are on a collision course with President Reagan's proposed 1987 budget, which calls for defense spending of $320 billion, sharper cuts in domestic spending, and lower tax hikes.