Spending Control Act of 2004

Spending Control Act of 2004 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to: (1) revise for FY 2004 discretionary spending limits (spending caps) for the highway and mass transit categories; (2) set forth for FY 2005 and 2006 new budget authority and outlays for the general purpose discretionary category, outlays for the highway category and new budget authority and outlays for the mass transit category; and (3) set forth for FY 2007 through 2009 outlays for the highway category and new budget authority and outlays for the mass transit category.

Revises the requirement that the Office of Management and Budget (OMB) make adjustments to the highway category to conform to estimated levels of highway receipts.

Sets forth the level of obligation limitations (sum of budget authority and obligation limitations) for the highway and mass transit categories for FY 2004 through 2009.

Provides that, in any of FY 2005 through 2006, discretionary advance appropriations provided in appropriation Acts in excess of $23,558 billion shall be counted against the discretionary spending limits for the fiscal year for which the appropriation Act containing the advance appropriation is enacted.

Extends PAY-AS-YOU-GO requirements through FY 2009 to provide for an offsetting sequestration for direct spending (currently, direct spending and receipts) legislation that is enacted before October 1, 2009, that causes a net increase in direct spending (currently, net deficit increase).

Provides, under specified conditions, for additional new budget authority in FY 2005 or 2006 for fire suppression and for an adjustment in the discretionary spending limit for FY 2005 for appropriations for the global war on terrorism.

Excludes from Congressional Budget Office (CBO) and OMB estimates certain extending provisions in the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Requires the estimates set forth in the discretionary sequestration preview and final reports issued by OMB and CBO to include the current year and each subsequent year through FY 2006 (or FY 2009 solely to enforce the discretionary spending limits for the highway and mass transit categories).

Extends: (1) certain budget enforcement requirements through FY 2006 (or 2009 for enforcement of spending caps for highway and mass transit categories); and (2) PAY-AS-YOU-GO requirements through FY 2013.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov