S.Amdt. 4766

SA 4766. Mr. THUNE submitted an amendment intended to be proposed to
amendment SA 4753 proposed by Mr. Reid (for himself and Mr. McConnell)
to the bill H.R. 4853, to amend the Internal Revenue Code of 1986 to
extend the funding and expenditure authority of the Airport and Airway
Trust Fund, to amend title 49, United States Code, to extend
authorizations for the airport improvement program, and for other
purposes; which was ordered to lie on the table; as follows:

At the end of title V, insert the following:

SEC. 506. RESCISSION OF UNSPENT FEDERAL FUNDS TO OFFSET LOSS
IN REVENUES.

(a) In General.--Notwithstanding any other provision of
law, of all available unobligated funds, $86,000,000,000 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rescinded.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.

[[Page S8869]]

(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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