Amendment in the nature of a substitute sought to set annual caps on entitlement spending for FY 1996 through FY 2000; require cuts in spending of $150 billion over the next five years; require automatic, across-the-board cuts for all programs if reconciliation legislation fails to meet the established caps; and prohibit tax increases or discretionary spending cuts as a means of offsetting excess entitlement spending.

Purpose:

An amendment to set annual caps on entitlement spending for FY 1996 through FY 2000. It would require cuts in spending of $150 billion over the next five years. It would require automatic, across-the-board cuts for all programs if reconciliation legislation fails to meet the established caps. It would also prohibit tax increases or discretionary spending cuts as a means of offsetting excess entitlement spending.

House Amendment Code:

(A002)

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