Amendment in the nature of a substitute, as modified, sought to retire the public debt by 2012; provide investments in education, veterans, health care and defense; and establish a $40 billion Medicare reserve fund that can be used for Medicare reform and a prescription drug benefit.


An amendment in the nature of a substitute numbered 3 printed in Part B of House Report 106-535 to recommend a total of $605.9 billion in discretionary budget authority for FY 2001; recommend an increase of $2 billion in national defense budget authority and an increase of $1 billion in national defense outlays; recommend an increase of approximately $1 billion in both authority and outlays for veterans' benefits; devote approximately 50% of the FY 2001 on-budget surplus to debt reduction; call for $40 billion in tax cuts over FY's 2001-2005; and to call for a $40 billion reserve fund for Medicare over FY's 2001-2005 and $150 billion over FY's 2001-2011.

House Amendment Code:


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