A bill to amend the Balanced Budget and Emergency Deficit Control Act of 1985 to limit increases in outlays to 4 percent per year, to provide for midyear sequesters in order to assure that deficit and outlay targets are achieved, and to amend the Congressional Budget Act of 1974 to extend the deficit targets.

Four Percent Solution Budget Act - Title I: The Four Percent Solution - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to impose a four-percent cap on increases in outlays from the preceding year. Extends certain provisions and the terminating date of such Act through FY 1997 (currently, FY 1993). Excludes receipts and...