S.Amdt. 3095

SA 3095. Mr. BENNETT submitted an amendment intended to be proposed
to amendment SA 2786 proposed by Mr. Reid (for himself, Mr. Baucus, Mr.
Dodd, and Mr. Harkin) to the bill H.R. 3590, to amend the Internal
Revenue Code of 1986 to modify the first-time homebuyers credit in the
case of members of the Armed Forces and certain other Federal
employees, and for other purposes; which was ordered to lie on the
table; as follows:

At the appropriate place, insert the following:

SEC. __. LIMITATION ON ENTITLEMENT SPENDING.

(a) Certification.--Notwithstanding any other provision of
this Act, this Act (and the amendments made by this Act)
shall not take effect until the Secretary of the Treasury
certifies to Congress that entitlement spending for the
Medicare, Medicaid, and Social Security programs under titles
XVIII, XIX, or II of the Social Security Act, and spending
under other new entitlement programs provided for in this Act
will not exceed 10 percent of the Gross Domestic Product (as
estimated by the Secretary of Commerce) between fiscal years
2014 and 2019.
(b) Termination.--If the Secretary of the Treasury at any
time determines that the spending referred to in subsection
(a) exceeds 10 percent of the Gross Domestic Program during
any of fiscal years 2014 through 2019, new entitlement
spending programs provided for under this Act shall not be
implemented.
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