S.Amdt. 287

SA 287. Mr. SCHUMER (for himself and Ms. Snowe) submitted an amendment intended to be proposed by him to the concurrent resolution S. Con. Res. 23, setting forth the congressional budget for the United States Governments for fiscal year 2004 and including the appropriate budgetary levels for fiscal year 2003 and for fiscal years 2005 through 2013; which was ordered to lie on the table; as follows:

On page 79, after line 22, add the following:

SEC. __. SENSE OF THE SENATE.

(a) Findings.--The Senate finds that--

(1) the States and their local governments face budget deficits of historic proportions;

(2) the States and their local governments are raising taxes, cutting jobs, and reducing services to address this fiscal crisis;

(3) these actions by the States and their local governments threaten to undo any economic stimulus measures implemented at the Federal level; and

(4) the States and their local governments require adequate funding to meet their responsibilities for homeland security, as well as other Federal mandates.

(b) Sense of the Senate.--It is the sense of the Senate that economic stimulus legislation enacted pursuant to the instructions contained in this concurrent resolution on the budget should include $40,000,000,000 in direct fiscal assistance provided in a one-time revenue grant to the States and their local governments, as follows:

(1) $20,000,000,000 should be allotted amongst the States.

(2) $20,000,000,000 should be allotted for distribution to the various units of local government within such States.

(3) Such fiscal assistance should be allotted among the States and their units of local government based on a formula which considers size of population and growth in the average annual rate of unemployment during the preceding two years.