United States · Amendment · HAMDT

HAMDT 361 (111th)

An amedment in the nature of a substitute printed in Part A of House Report 111-217 to limit the current policy adjustment, as it applies to the 2001 and 2003 tax cuts, to tax cuts for the middle class and does not provide for a current policy adjustment for upper income taxpayers. It provides for the use of CBO cost estimates when such estimates are available prior to final congressional action on legislation, printed in the Congressional Record, and incorporated into legislation upon enrollment. When such estimates are not available prior to final congressional action, provides that OMB estimates shall be used. It requires deficit neutrality over both five and ten year periods, mirroring House rules. It conforms emergency designation procedures for the purposes of statutory PAYGO with emergency designation procedures in the House rules, and does not require a separate presidential emergency designation. Finally, it incorporates the judicial review section from the Balanced Budget and Emergency Deficit Control Act of 1985.

Budget