H.Amdt.75 to H.Con.Res.85111th Congress (2009-2010)
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|Amends Bill:||H.Con.Res.85 — Setting forth the congressional budget for the United States Government for fiscal year 2010 and including the appropriate budgetary levels for fiscal years 2009 and 2011 through 2014.|
|Sponsor:||Rep. Ryan, Paul [R-WI-1] (Offered 04/02/2009)|
|Latest Action:||04/02/2009 On agreeing to the Ryan (WI) amendment (A004) Failed by recorded vote: 137 - 293 (Roll no. 191).|
Description: H.Amdt. 75 — 111th Congress (2009-2010)
Amendment in the nature of a substitute No. 4 printed in House Report 111-73 and offered as the Republican Budget Substitute.
An amendment in the nature of a substitute numbered 4 printed in House Report 111-73 which seeks to spend $4.8 trillion less than the President's budget over 10 years; sets spending levels which are 20.7% of GDP; freezes non-defense/non- veterans spending; borrows $3.6 trillion less than the President's budget over 10 years; seeks to hold debt to 65% of GDP; and puts forward a long-term budget to bring debt under control. The substitute also seeks to permanently extend 2001 and 2003 tax relief; permanently fix the Alternative Minimum Tax; create 2.1 million more jobs than the Democrats' budget; suspend capital gains taxes through 2010; and reduce the corporate tax rate to 25% from the current 35%. The amendment also seeks to provide $5 billion over the President's budget for Defense; $540 million over the President's budget for Veterans; to save $50 billion annually for war or unmet defense needs; and provide for health and retirement security by reforming programs to ensure they provide benefits for future beneficiaries.
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