Amendment101st Congress
Amendment sought to provide fiscal year 1990 new budget authority of $1,333.1 billion; budget outlays of $1,182.4 billion; budget revenues of $1,088.7 billion; and a budget deficit of $93.7 billion. It also sought to reduce the deficit with revenues derived from the issuance of bonds redeemable in gold and from the establishment of a one-time Federal tax amnesty program.
- Amendment Number
- 38
- Description
- Amendment sought to provide fiscal year 1990 new budget authority of $1,333.1 billion; budget outlays of $1,182.4 billion; budget revenues of $1,088.7 billion; and a budget deficit of $93.7 billion. It also sought to reduce the deficit with revenues derived from the issuance of bonds redeemable in gold and from the establishment of a one-time Federal tax amnesty program.
- Purpose
- An amendment in the nature of a substitute to reduce the deficit by $62 billion through refinancing the Federal debt by issuing 40-year, gold-back bonds; declaring a one-time tax amnesty; and, the improved economic conditions assumed to result from these policies. The amendment does not call for cuts in defense or domestic funding.
- Congress
- 101
- Type
- HAMDT
- Latest Action Date
- May 4, 1989
- Latest Action Text
- On agreeing to the Dannemeyer amendment (A002) Failed by recorded vote: 72 - 350 (Roll no. 39).
- Latest Action Time
- 11:31:23
- Submitted Date
- May 4, 1989
- Chamber
- House of Representatives
- Update Date
- Jul 1, 2021