Amendment101st Congress
Amendment sought to provide fiscal year 1991 new budget authority of $1,385.3 billion; budget outlays of $1,228.6 billion; budget revenues of $1,166.7 billion; and a budget deficit of $61.9 billion. It also sought to freeze defense spending at the fiscal year 1990 level and reduce interest payments for the national debt through the issuance of Treasury bonds redeemable in gold.
- Amendment Number
- 427
- Description
- Amendment sought to provide fiscal year 1991 new budget authority of $1,385.3 billion; budget outlays of $1,228.6 billion; budget revenues of $1,166.7 billion; and a budget deficit of $61.9 billion. It also sought to freeze defense spending at the fiscal year 1990 level and reduce interest payments for the national debt through the issuance of Treasury bonds redeemable in gold.
- Purpose
- An amendment in the nature of a substitute to freeze spending at the FY 1990 levels for defense and most domestic programs. For FY 1991, the amendment reduces defense budget authority by $14.2 billion (as opposed to $32.8 billion in the Committee budget) and reduces defense outlays by $10.2 billion (as opposed to $11.5 billion in the Committee budget). The amendment also contains a proposal to refinance the national debt with gold-backed bonds with the intention of producing substantial reductions in federal interest costs. The amendment does not include reductions in entitlement programs.
- Congress
- 101
- Type
- HAMDT
- Latest Action Date
- Apr 26, 1990
- Latest Action Text
- On agreeing to the Dannemeyer amendment (A002) Failed by recorded vote: 48 - 354 (Roll no. 85).
- Latest Action Time
- 15:48:45
- Submitted Date
- Apr 26, 1990
- Chamber
- House of Representatives
- Update Date
- Jul 1, 2021