S.Amdt. 15

SA 15. Mr. INOUYE (for himself and Mr. Leahy) submitted an amendment intended to be proposed by him to the bill S. 223, to modernize the air traffic control system, improve the safety, reliability, and availability of transportation by air in the United States, provide modernization of the air traffic control system, reauthorize the Federal Aviation Administration, and for other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. . REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS.

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General.--Section 9006 of the Patient Protection and Affordable Care Act, and the amendments made thereby, are hereby repealed; and the Internal Revenue Code of 1986 shall be applied as if such section, and amendments, had never been enacted.

(b) Rescission of Unspent Federal Funds to Offset Loss in Revenues.--

(1) In general--Notwithstanding any other provision of law, of all available unobligated funds, $39,000,000,000 are hereby rescinded.

(2) Implementation.--The Director of the Office of Management and Budget shall determine and identify from which accounts the rescission under paragraph (1) 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.