To repeal the expansion of information reporting requirements for payments of $600 or more to corporations, and for other purposes.

SA 4702. Mr. JOHANNS submitted an amendment intended to be proposed
by him to the bill S. 510, to amend the Federal Food, Drug, and
Cosmetic Act with respect to the safety of the food supply; which was
ordered to lie on the table; as follows:

At the end, add the following:

TITLE V--SMALL BUSINESS PAPERWORK REDUCTION

SEC. 501. REPEAL OF EXPANSION OF INFORMATION REPORTING
REQUIREMENTS.

Section 9006 of the Patient Protection and Affordable Care
Act, and the amendments made thereby, are hereby repealed;
and the Internal Revenue Code of 1986 shall be applied as if
such section, and amendments, had never been enacted.

[[Page S7991]]

SEC. 502. RESCISSION OF UNSPENT FEDERAL FUNDS TO OFFSET LOSS
IN REVENUES.

(a) In General.--Notwithstanding any other provision of
law, of all available unobligated funds, $39,000,000,000 in
appropriated discretionary funds are hereby permanently
rescinded.
(b) Implementation.--The Director of the Office of
Management and Budget shall determine and identify from which
appropriation accounts the rescission under subsection (a)
shall apply and the amount of such rescission that shall
apply to each such account. Not later than 60 days after the
date of the enactment of this Act, the Director of the Office
of Management and Budget shall submit a report to the
Secretary of the Treasury and Congress of the accounts and
amounts determined and identified for rescission under the
preceding sentence.
(c) Exception.--This section shall not apply to the
unobligated funds of the Department of Defense or the
Department of Veterans Affairs.
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