Amendment in the nature of a substitute extends rescission procedures to Presidential proposals to repeal "targeted tax benefits" in revenue bills; provides that 50 House Members can request a vote on a motion to strike an individual rescission from the President's proposed rescission package; provides that the special rescission procedures established by the substitute are permanent; applies the special rescission procedures proposed by the President to any time during the year; does not apply the expedited consideration procedures to alternative rescission packages proposed by the Appropriations Committees; and specifies that the President has the option of earmarking savings from proposed rescissions for deficit reduction.

Purpose:

An amendment in the nature of a substitute that would do the following: 1. Establish permanent rescission procedures. 2. Exempt alternative rescission packages proposed by the Appropriating Committee from the proposed expedited procedures. 3. Extend the special rescission procedures to presidential proposals to repeal "targeted tax benefits" in revenue bills. 4. Provide that 50 House Members may request a vote on a motion to strike an individual rescission from a proposed rescission package, and allow 15 Senators to request a separate vote on a specific rescission. 5. Allow the procedures to apply to rescission packages proposed by the President at any time of the year. 6. Allow the President to specify, or "earmark", savings accrued from specific proposed rescissions for deficit reduction.

House Amendment Code:

(A002)

House Tally Clerks use this code to manage amendment information.