S.Amdt. 703
What it does: Adds SEC. ___. REPEAL OF IMPOSITION OF WITHHOLDING ON CERTAIN PAYMENTS MADE TO VENDORS BY GOVERNMENT ENTITIES at the end of the bill
Sen. Scott P. Brown (R-MA)What it changes
1 change to S. 1619 · shown in the bill's text
Adds SEC. ___. REPEAL OF IMPOSITION OF WITHHOLDING ON CERTAIN PAYMENTS MADE TO VENDORS BY GOVERNMENT ENTITIES at the end of the bill
Adds a sectionIn S. 1619 · Placed on Calendar Senate
The Exchange Rates and International Economic Policy Coordination Act of 1988 (22 U.S.C. 5301 et seq.) is repealed.
Inserted: SEC. ___. REPEAL OF IMPOSITION OF WITHHOLDING ON CERTAIN PAYMENTS MADE TO VENDORS BY GOVERNMENT ENTITIES.
Inserted: (a) In General.--The amendment made by section 511 of the Tax Increase Prevention and Reconciliation Act of 2005 is repealed and the Internal Revenue Code of 1986 shall be applied as if such amendment had never been enacted.
Inserted: (b) Rescission of Unspent Federal Funds to Offset Loss in Revenues.--
Inserted: (1) In general.--Notwithstanding any other provision of law, of all available unobligated funds, $30,000,000,000 in appropriated discretionary funds are hereby permanently rescinded.
Inserted: (2) Implementation.--The Director of the Office of Management and Budget shall determine and identify from which appropriation 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.
Inserted: (3) Exception.--This subsection shall not apply to the unobligated funds of the Department of Defense or the Department of Veterans Affairs.
Original wording
At the end, add the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 703. Mr. BROWN of Massachusetts submitted an amendment intended to be proposed by him to the bill S. 1619, to provide for identification of misaligned currency, require action to correct the misalignment, and for other purposes; which was ordered to lie on the table; as follows:
At the end, add the following:
SEC. ___. REPEAL OF IMPOSITION OF WITHHOLDING ON CERTAIN PAYMENTS MADE TO VENDORS BY GOVERNMENT ENTITIES.
(a) In General.--The amendment made by section 511 of the Tax Increase Prevention and Reconciliation Act of 2005 is repealed and the Internal Revenue Code of 1986 shall be applied as if such amendment 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, $30,000,000,000 in appropriated discretionary funds are hereby permanently rescinded.
(2) Implementation.--The Director of the Office of Management and Budget shall determine and identify from which appropriation 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.
(3) Exception.--This subsection shall not apply to the unobligated funds of the Department of Defense or the Department of Veterans Affairs.
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Senate amendment submitted
October 4, 2011