Amendment in the nature of a substitute sought to provide for a balanced budget by FY 2002 by reducing spending by $333.1 billion and increasing revenue by $486.6 billion. It would have provided for decreased funding for defense over six years; maintained Medicare and Medicaid expenditures at levels that CBO estimates is required to maintain current services; increased funding for education, job training, and social service; and provided for revenue increases by revising tax provisions relating to capital gains, and multinational and foreign controlled corporations.