Amendment in the nature of a substitute sought to achieve a balanced budget by fiscal year 2002 through spending cuts of $518 billion along with $583 billion in net revenues, spending less on defense and keeping Medicare and Medicaid funding at levels that the Congressional Budget Office estimates is necessary to continue current services, and placing priorities on programs such as education and job training, and increasing taxes on multinational corporations, slowing down depreciation writeoffs for business equipment and taxing capital gains income at the same rate as ordinary income.