An amendment in the nature of a substitute which is comprised of a seven point plan for economic relief. The amendment contains two provisions to speed up depreciation write-offs for businesses; to allow real estate developers to write off losses from rental real estate; to include new tax rules to encourage real estate investments by pension funds; to provide tax credits for first-time homebuyers, and to waive penalties for early IRA withdrawals for first-time homebuyers. The substitute also contains a modified version of the President's capital gains proposal. There are also offsetting spending cuts which permanently eliminate any statutes of limitation on collecting defaulted student loans, and make permanent and expand the current ban on lump-sum distributions for certain Civil Service retirees. Provisions intended to decrease the unfunded liabilities faced by the Pension Benefit Guarantee Corporation are also included.