Amendment in the nature of a substitute sought to provide for a balanced budget by FY 2002; did not provide for tax reductions and assumed smaller cuts in mandatory and discretionary spending than the original resolution. It would have provided for $98.4 billion more in domestic discretionary spending over the next six years and $29.9 billion less in defense funding over the same period. It called for $146.4 billion in Medicare cuts and $42 billion in Medicaid cuts, and assumed a reduction in the Consumer Price Index of 0.5 percent.

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Amendment Number
1062
Description
Amendment in the nature of a substitute sought to provide for a balanced budget by FY 2002; did not provide for tax reductions and assumed smaller cuts in mandatory and discretionary spending than the original resolution. It would have provided for $98.4 billion more in domestic discretionary spending over the next six years and $29.9 billion less in defense funding over the same period. It called for $146.4 billion in Medicare cuts and $42 billion in Medicaid cuts, and assumed a reduction in the Consumer Price Index of 0.5 percent.
Purpose
An amendment which seeks to achieve a balanced budget by 2002, but does not provide for any tax cuts and assumes smaller cuts in mandatory and discretionary spending than does the resolution. The amendment calls for $98.4 billion more in domestic discretionary spending over the next six years than the resolution and provides a total of $29.9 billion less for defense appropriations over the same period. The substitute calls for $146.4 billion in Medicare cuts ($9.6 billion less than the resolution) and $42 billion in Medicaid cuts ($13 billion less than the resolution). It also assumes a reduction in CPI of 0.5% which would result in a six-year savings of $50.8 billion.
Congress
104
Type
HAMDT
Latest Action Date
May 16, 1996
Latest Action Text
On agreeing to the Orton amendment (A002) Failed by recorded vote: 130 - 295 (Roll no. 177).
Latest Action Time
14:15:50
Submitted Date
May 16, 1996
Chamber
House of Representatives
Update Date
Aug 15, 2021
Amendment 1062 — Informed