To provide for reconciliation pursuant to section 213(c) of the concurrent resolution on the budget for fiscal year 2001 to reduce the public debt and to decrease the statutory limit on the public debt.
Provides that if the Congressional Budget Office estimates an on-budget surplus for FY 2000 in a report submitted to the congressional budget committees pursuant to the Congressional Budget Act of 1974 that exceeds the amount of the surplus for such fiscal year set forth in the concurrent resolution on the budget for FY 2001 (H. Con. Res. 290, 106th Congress), then an amount equal to that excess is appropriated into the Account for FY 2000. Prohibits such appropriation from being considered as direct spending for purposes of pay-as-you-go provisions of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
Reduces the public debt limit by the amount appropriated into the Account.
Bars Account receipts and disbursements from being counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of : (1) the Federal budget as submitted by the President; (2) the congressional budget; or (3) the Gramm-Rudman-Hollings Act.
Requires the Secretary to report to specified congressional committees on the Account.
Received in the Senate and Read twice and referred to the Committee on Finance.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 3.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 106-673, Part I.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 106-673, Part I.
House Committee on The Budget Granted an extension for further consideration ending not later than June 12, 2000.
Committee on The Budget discharged.
Committee on The Budget discharged.
Placed on the Union Calendar, Calendar No. 377.
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Mr. Archer moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H4701-4708)
DEBATE - The House proceeded with forty minutes of debate on H.R. 4601.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H4722-4723)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 5 (Roll no. 296).(text: CR H4701-4702)
Roll Call #296 (House)On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 5 (Roll no. 296). (text: CR H4701-4702)
Roll Call #296 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate, read the first time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 626.