United States · Amendment · HAMDT

HAMDT 489 (108th)

An amendment in the nature of a substitute numbered 3 printed in House Report 108-446 to call for more tax cuts and less discretionary spending than provided for in the resolution, and which would cut the deficit in half in three years compared to four years in the resolution and five years in the president's request. The substitute limits FY 2005 discretionary spending to about $811 billion, $8 billion less than the resolution and $12 billion less than the president's request. The measure assumes the president's and resolution's spending levels for defense and homeland security, but cuts other discretionary spending by 1% from current levels. Finally, the substitute reduces the rate of growth of non-Social Security mandatory spending by 1% each year, saving about $7 billion in FY 2005.

Defence