H.Amdt.19 to H.Con.Res.83107th Congress (2001-2002)
|Amends Bill:||H.Con.Res.83 — Establishing the congressional budget for the United States Government for fiscal year 2002, revising the congressional budget for the United States Government for fiscal year 2001, and setting forth appropriate budgetary levels for each of fiscal years 2003 through 2011.|
|Sponsor:||Rep. Stenholm, Charles W. [D-TX-17] (Offered 03/28/2001)|
|Latest Action:||On agreeing to the Stenholm amendment (A003) Failed by recorded vote: 204 - 221 (Roll no. 67). (03/28/2001)|
Description: H.Amdt. 19 — 107th Congress (2001-2002)
Amendment in the nature of a substitute printed in Part B of H. Rept. 107-30 and numbered two was offered as the Blue Dog substitute.
An amendment to reserve half of the on-budget surplus over the next 5 years ($370 billion) for debt reduction and strengthening Social Security and Medicare; devote one quarter of the on-budget surplus to tax cuts retroactive to 2001, and for a net tax cut of $180 billion from 2001-2006. The amendment also saves 100% of the Social Security and Medicare trust fund surpluses for future retirees and prohibits those surpluses from being used for any other purpose. In addition, the amendment provides for an immediate tax cut of $23 billion in FY 2001; allocates 25% of the on-budget surplus over the next 5 years for investments in priorities identified by the President with bipartisan support in Congress; enforces discretionary spending levels; provides $92 billion for prescription drug coverage; provides a total of $57 billion for mandatory agriculture spending; and finally, increases spending by $20 billion in budget authority and $25 billion in outlays, with an increase of $23.5 billion for education.
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