An amendment in the nature of a substitute which would hold in reserve $10 billion of the $30 billion provided in the bill for future funding of the Resolution Trust Corp. until the President has submitted to Congress a plan for raising additional funding on a "pay-as-you-go basis that would not increase the federal deficit. The amendment would allow continued funding of the R.T.C. by additional borrowing or other means which could increase the deficit in years in which the economy grows at a rate of less than 1%, adjusted for inflation.

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Amendment Number
15
Description
An amendment in the nature of a substitute which would hold in reserve $10 billion of the $30 billion provided in the bill for future funding of the Resolution Trust Corp. until the President has submitted to Congress a plan for raising additional funding on a "pay-as-you-go basis that would not increase the federal deficit. The amendment would allow continued funding of the R.T.C. by additional borrowing or other means which could increase the deficit in years in which the economy grows at a rate of less than 1%, adjusted for inflation.
Purpose
Amendment in the nature of a substitute sought to authorize $30 billion in funding for the Resolution Trust Corporation (RTC). $10 billion of that amount would be withheld until the President submitted to Congress a plan to pay for all future RTC bailout funds in a deficit-neutral manner.
Congress
102
Type
HAMDT
Latest Action Date
Mar 12, 1991
Latest Action Text
On agreeing to the Slattery amendment (A001) Failed by recorded vote: 186 - 237 (Roll no. 39).
Latest Action Time
17:26:25
Submitted Date
Mar 12, 1991
Chamber
House of Representatives
Update Date
Jun 7, 2021
Amendment 15 — Informed