[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 640 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                 S. 640

To provide Congress a second look at wasteful spending by establishing 
       enhanced rescission authority under fast-track procedures.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 19, 2009

  Mr. Gregg (for himself and Mr. Lieberman) introduced the following 
 bill; which was read twice and referred to the Committee on the Budget

_______________________________________________________________________

                                 A BILL


 
To provide Congress a second look at wasteful spending by establishing 
       enhanced rescission authority under fast-track procedures.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Second Look at Wasteful Spending Act 
of 2009''.

SEC. 2. ENHANCED RESCISSION AUTHORITY.

    (a) In General.--Title X of the Congressional Budget and 
Impoundment Control Act of 1974 (2 U.S.C. 621 et seq.) is amended by 
striking part C and inserting the following:

                ``PART C--ENHANCED RESCISSION AUTHORITY

``SEC. 1021. EXPEDITED CONSIDERATION OF CERTAIN PROPOSED RESCISSIONS.

    ``(a) Proposed Rescissions.--The President may send a special 
message, at the time and in the manner provided in subsection (b), that 
proposes to rescind dollar amounts of discretionary budget authority, 
items of direct spending, and targeted tax benefits.
    ``(b) Transmittal of Special Message.--
            ``(1) Special message.--
                    ``(A) In general.--
                            ``(i) Four messages.--The President may 
                        transmit to Congress not to exceed 4 special 
                        messages per calendar year, proposing to 
                        rescind dollar amounts of discretionary budget 
                        authority, items of direct spending, and 
                        targeted tax benefits.
                            ``(ii) Timing.--Special messages may be 
                        transmitted under clause (i)--
                                    ``(I) with the President's budget 
                                submitted pursuant to section 1105 of 
                                title 31, United States Code; and
                                    ``(II) 3 other times as determined 
                                by the President.
                            ``(iii) Limitations.--
                                    ``(I) In general.--Special messages 
                                shall be submitted within 1 calendar 
                                year of the date of enactment of any 
                                dollar amount of discretionary budget 
                                authority, item of direct spending, or 
                                targeted tax benefit the President 
                                proposes to rescind pursuant to this 
                                Act.
                                    ``(II) Resubmittal rejected.--If 
                                Congress rejects a bill introduced 
                                under this part, the President may not 
                                resubmit any of the dollar amounts of 
                                discretionary budget authority, items 
                                of direct spending, or targeted tax 
                                benefits in that bill under this part, 
                                or part B with respect to dollar 
                                amounts of discretionary budget 
                                authority.
                                    ``(III) Resubmital after sine 
                                die.--If Congress does not complete 
                                action on a bill introduced under this 
                                part because Congress adjourns sine 
                                die, the President may resubmit some or 
                                all of the dollar amounts of 
                                discretionary budget authority, items 
                                of direct spending, and targeted tax 
                                benefits in that bill in not more than 
                                1 subsequent special message under this 
                                part, or part B with respect to dollar 
                                amounts of discretionary budget 
                                authority.
                    ``(B) Contents of special message.--Each special 
                message shall specify, with respect to the dollar 
                amount of discretionary budget authority, item of 
                direct spending, or targeted tax benefit proposed to be 
                rescinded--
                            ``(i) the dollar amount of discretionary 
                        budget authority available and proposed for 
                        rescission from accounts, departments, or 
                        establishments of the government and the dollar 
                        amount of the reduction in outlays that would 
                        result from the enactment of such rescission of 
                        discretionary budget authority for the time 
                        periods set forth in clause (iii);
                            ``(ii) the specific items of direct 
                        spending and targeted tax benefits proposed for 
                        rescission and the dollar amounts of the 
                        reductions in budget authority and outlays or 
                        increases in receipts that would result from 
                        enactment of such rescission for the time 
                        periods set forth in clause (iii);
                            ``(iii) the budgetary effects of proposals 
                        for rescission, estimated as of the date the 
                        President submits the special message, relative 
                        to the most recent levels calculated consistent 
                        with the methodology described in section 257 
                        of the Balanced Budget and Emergency Deficit 
                        Control Act of 1985 and included with a budget 
                        submission under section 1105(a) of title 31, 
                        United States Code, for the time periods of--
                                    ``(I) the fiscal year in which the 
                                proposal is submitted; and
                                    ``(II) each of the 10 following 
                                fiscal years beginning with the fiscal 
                                year after the fiscal year in which the 
                                proposal is submitted;
                            ``(iv) any account, department, or 
                        establishment of the Government to which such 
                        dollar amount of discretionary budget authority 
                        or item of direct spending is available for 
                        obligation, and the specific project or 
                        governmental functions involved;
                            ``(v) the reasons why such dollar amount of 
                        discretionary budget authority or item of 
                        direct spending or targeted tax benefit should 
                        be rescinded;
                            ``(vi) the estimated fiscal and economic 
                        impacts, of the proposed rescission;
                            ``(vii) to the maximum extent practicable, 
                        all facts, circumstances, and considerations 
                        relating to or bearing upon the proposed 
                        rescission and the decision to effect the 
                        proposed rescission, and the estimated effect 
                        of the proposed rescission upon the objects, 
                        purposes, and programs for which the budget 
                        authority or items of direct spending or 
                        targeted tax benefits are provided; and
                            ``(viii) a draft bill that, if enacted, 
                        would rescind the budget authority, items of 
                        direct spending and targeted tax benefits 
                        proposed to be rescinded in that special 
                        message.
            ``(2) Analysis by congressional budget office and joint 
        committee on taxation.--
                    ``(A) In general.--Upon the receipt of a special 
                message under this part proposing to rescind dollar 
                amounts of discretionary budget authority, items of 
                direct spending, and targeted tax benefits--
                            ``(i) the Director of the Congressional 
                        Budget Office shall prepare an estimate of the 
                        savings in budget authority or outlays 
                        resulting from such proposed rescission and 
                        shall include in its estimate, an analysis 
                        prepared by the Joint Committee on Taxation 
                        related to targeted tax benefits; and
                            ``(ii) the Director of the Joint Committee 
                        on Taxation shall prepare an estimate and 
                        forward such estimate to the Congressional 
                        Budget Office, of the savings from repeal of 
                        targeted tax benefits.
                    ``(B) Methodology.--The estimates required by 
                subparagraph (A) shall be made relative to the most 
                recent levels calculated consistent with the 
                methodology used to calculate a baseline under section 
                257 of the Balanced Budget and Emergency Control Act of 
                1985 and included with a budget submission under 
                section 1105(a) of title 31, United States Code, and 
                transmitted to the chairmen of the Committees on the 
                Budget of the House of Representatives and Senate.
            ``(3) Enactment of rescission bill.--
                    ``(A) Deficit reduction.--Amounts of budget 
                authority or items of direct spending or targeted tax 
                benefit that are rescinded pursuant to enactment of a 
                bill as provided under this part shall be dedicated 
                only to deficit reduction and shall not be used as an 
                offset for other spending increases or revenue 
                reductions.
                    ``(B) Adjustment of budget targets.--Not later than 
                5 days after the date of enactment of a rescission bill 
                as provided under this part, the chairs of the 
                Committees on the Budget of the Senate and the House of 
                Representatives shall revise spending and revenue 
                levels under section 311(a) of the Congressional Budget 
                Act of 1974 and adjust the committee allocations under 
                section 302(a) of the Congressional Budget Act of 1974 
                or any other adjustments as may be appropriate to 
                reflect the rescission. The adjustments shall reflect 
                the budgetary effects of such rescissions as estimated 
                by the President pursuant to paragraph (1)(B)(iii). The 
                appropriate committees shall report revised allocations 
                pursuant to section 302(b) of the Congressional Budget 
                Act of 1974. Notwithstanding any other provision of 
                law, the revised allocations and aggregates shall be 
                considered to have been made under a concurrent 
                resolution on the budget agreed to under the 
                Congressional Budget Act of 1974 and shall be enforced 
                under the procedures of that Act.
                    ``(C) Adjustments to caps.--After enactment of a 
                rescission bill as provided under this part, the 
                President shall revise applicable limits under the 
                Second Look at Wasteful Spending Act of 2009, as 
                appropriate.
    ``(c) Procedures for Expedited Consideration.--
            ``(1) In general.--
                    ``(A) Introduction.--Before the close of the second 
                day of session of the Senate and the House of 
                Representatives, respectively, after the date of 
                receipt of a special message transmitted to Congress 
                under subsection (b), the majority leader of each 
                House, for himself, or minority leader of each House, 
                for himself, or a Member of that House designated by 
                that majority leader or minority leader shall introduce 
                (by request) the President's draft bill to rescind the 
                amounts of budget authority or items of direct spending 
                or targeted tax benefits, as specified in the special 
                message and the President's draft bill. If the bill is 
                not introduced as provided in the preceding sentence in 
                either House, then, on the third day of session of that 
                House after the date of receipt of that special 
                message, any Member of that House may introduce the 
                bill.
                    ``(B) Referral and reporting.--
                            ``(i) One committee.--The bill shall be 
                        referred by the presiding officer to the 
                        appropriate committee. The committee shall 
                        report the bill without any revision and with a 
                        favorable, an unfavorable, or without 
                        recommendation, not later than the fifth day of 
                        session of that House after the date of 
                        introduction of the bill in that House. If the 
                        committee fails to report the bill within that 
                        period, the committee shall be automatically 
                        discharged from consideration of the bill, and 
                        the bill shall be placed on the appropriate 
                        calendar.
                            ``(ii) Multiple committees.--
                                    ``(I) Referrals.--If a bill 
                                contains provisions in the jurisdiction 
                                of more than 1 committee, the bill 
                                shall be jointly referred to the 
                                committees of jurisdiction and the 
                                Committee on the Budget.
                                    ``(II) Views of committee.--Any 
                                committee, other than the Committee on 
                                the Budget, to which a bill is referred 
                                under this clause may submit a 
                                favorable, an unfavorable 
                                recommendation, without recommendation 
                                with respect to the bill to the 
                                Committee on the Budget prior to the 
                                reporting or discharge of the bill.
                                    ``(III) Reporting.--The Committee 
                                on the Budget shall report the bill not 
                                later than the fifth day of session of 
                                that House after the date of 
                                introduction of the bill in that House, 
                                without any revision and with a 
                                favorable or unfavorable 
                                recommendation, or with no 
                                recommendation, together with the 
                                recommendations of any committee to 
                                which the bill has been referred.
                                    ``(IV) Discharge.--If the Committee 
                                on the Budget fails to report the bill 
                                within that period, the committee shall 
                                be automatically discharged from 
                                consideration of the bill, and the bill 
                                shall be placed on the appropriate 
                                calendar.
                    ``(C) Final passage.--A vote on final passage of 
                the bill shall be taken in the Senate and the House of 
                Representatives on or before the close of the 10th day 
                of session of that House after the date of the 
                introduction of the bill in that House. If the bill is 
                passed, the Clerk of the House of Representatives shall 
                cause the bill to be transmitted to the Senate before 
                the close of the next day of session of the House.
            ``(2) Consideration in the house of representatives.--
                    ``(A) Motion to proceed to consideration.--A motion 
                in the House of Representatives to proceed to the 
                consideration of a bill under this subsection shall be 
                highly privileged and not debatable. An amendment to 
                the motion shall not be in order, nor shall it be in 
                order to move to reconsider the vote by which the 
                motion is agreed to or disagreed to.
                    ``(B) Limits on debate.--Debate in the House of 
                Representatives on a bill under this subsection shall 
                not exceed 4 hours, which shall be divided equally 
                between those favoring and those opposing the bill. A 
                motion further to limit debate shall not be debatable. 
                It shall not be in order to move to recommit a bill 
                under this subsection or to move to reconsider the vote 
                by which the bill is agreed to or disagreed to.
                    ``(C) Appeals.--Appeals from decisions of the chair 
                relating to the application of the Rules of the House 
                of Representatives to the procedure relating to a bill 
                under this part shall be decided without debate.
                    ``(D) Application of house rules.--Except to the 
                extent specifically provided in this part, 
                consideration of a bill under this part shall be 
                governed by the Rules of the House of Representatives. 
                It shall not be in order in the House of 
                Representatives to consider any bill introduced 
                pursuant to the provisions of this part under a 
                suspension of the rules or under a special rule.
            ``(3) Consideration in the senate.--
                    ``(A) Motion to proceed to consideration.--A motion 
                to proceed to the consideration of a bill under this 
                subsection in the Senate shall not be debatable. A 
                motion to proceed to consideration of the bill may be 
                made even though a previous motion to the same effect 
                has been disagreed to. It shall not be in order to move 
                to reconsider the vote by which the motion to proceed 
                is agreed to or disagreed to.
                    ``(B) Limits on consideration.--Consideration in 
                the Senate of a bill under this subsection, and all 
                debatable motions and appeals in connection therewith, 
                shall not exceed a total of 10 hours, equally divided 
                and controlled in the usual form.
                    ``(C) Debatable motions and appeals.--Debate in the 
                Senate on any debatable motion or appeal in connection 
                with a bill under this subsection shall be limited to 
                not more than 1 hour from the time allotted for debate, 
                to be equally divided and controlled in the usual form.
                    ``(D) Motion to limit debate.--A motion in the 
                Senate to further limit debate on a bill under this 
                subsection is not debatable.
                    ``(E) Motion to recommit.--A motion to recommit a 
                bill under this subsection is not in order.
                    ``(F) Consideration of the house bill.--
                            ``(i) In general.--If the Senate has 
                        received the House companion bill to the bill 
                        introduced in the Senate prior to the vote 
                        required under paragraph (1)(C), and the House 
                        has not amended the bill, then the Senate shall 
                        consider the Senate bill, and if the Senate has 
                        not amended it's bill, the vote under paragraph 
                        (1)(C) shall occur on, the House companion 
                        bill.
                            ``(ii) Procedure after vote on senate 
                        bill.--If the Senate votes, pursuant to 
                        paragraph (1)(C), on the bill introduced in the 
                        Senate without amendment, the Senate bill shall 
                        be held pending receipt of the House message on 
                        the bill. Upon receipt of the House companion 
                        bill, if the House bill is not amended by the 
                        House, the House bill shall be deemed to be 
                        considered, read for the third time, and the 
                        vote on passage of the Senate bill shall be 
                        considered to be the vote on the bill received 
                        from the House.
            ``(4) Conference.--
                    ``(A) Proceeding to conference.--If, after a bill 
                is agreed to in the Senate and House of 
                Representatives, the bill has been amended by either 
                chamber, the bill shall be deemed to be at a stage of 
                disagreement and motions to proceed to conference are 
                deemed to be agreed to. There shall be no motions to 
                instruct. The Senate and the House of Representatives 
                shall appoint conferees not later than 1 day of session 
                after the vote of the second House under paragraph 
                (1)(C).
                    ``(B) Period of consideration.--A conference report 
                on a bill considered under this section shall be 
                reported out not later than 3 days of session after the 
                vote of the second House under paragraph (1)(C). If the 
                2 Houses are unable to agree in conference, the 
                committee on conference shall report out the text of 
                the President's original bill.
                    ``(C) Scope of conference.--The matter committed to 
                conference for purposes of scope of conference shall be 
                limited to the matter stricken from the text of the 
                bills passed by the Senate and the House of 
                Representatives. The conferees shall only report 
                recommendations to strike or retain any of the 
                provisions stricken by either chamber.
                    ``(D) Procedure.--Consideration on a conference 
                report on any bill considered under this section shall 
                be limited to 2 hours equally divided between the 
                manager of the conference report and the minority 
                leader, or his designee.
                    ``(E) Final passage.--A vote on final passage of 
                the conference report shall be taken in the House of 
                Representatives on or before the close of the 2nd day 
                of session after the date the conference report is 
                submitted. If the conference report is passed, the 
                Clerk of the House of Representatives shall cause the 
                conference report to be transmitted to the Senate 
                before the close of the next day of session.
                    ``(F) Action of the senate.--A vote on final 
                passage of the conference report shall be taken in the 
                Senate on or before the close of the 2nd day of session 
                after the date the conference report is received from 
                the House.
    ``(d) Amendments and Divisions Prohibited.--
            ``(1) In general.--Except as provided in paragraph (2), no 
        amendment to a bill considered under this section shall be in 
        order in either the Senate or the House of Representatives.
            ``(2) Motion to strike.--
                    ``(A) Senate.--During consideration of a bill in 
                the Senate, any Member of the Senate may move to strike 
                any proposed rescission of a dollar amount of 
                discretionary budget authority, an item of direct 
                spending, or a targeted tax benefit if supported by 11 
                other Members.
                    ``(B) House.--During consideration of a bill in the 
                House of Representatives, any Member of the House of 
                Representatives may move to strike any proposed 
                rescission of a dollar amount of discretionary budget 
                authority, an item of direct spending, or a targeted 
                tax benefit if supported by 49 other Members.
            ``(3) No division.--It shall not be in order to demand a 
        division of any motions to strike in the Senate, or the 
        division of the question in the House of Representatives (or in 
        a Committee of the Whole).
            ``(4) No suspension.--No motion to suspend the application 
        of this subsection shall be in order in the Senate or in the 
        House of Representatives, nor shall it be in order in the House 
        of Representatives to suspend the application of this 
        subsection by unanimous consent.
    ``(e) Temporary Presidential Authority To Withhold.--
            ``(1) Availability.--The President may not withhold any 
        dollar amount of discretionary budget authority until the 
        President transmits and Congress receives a special message 
        pursuant to subsection (b). Upon receipt by Congress of a 
        special message pursuant to subsection (b), the President may 
        direct that any dollar amount of discretionary budget authority 
        proposed to be rescinded in that special message shall be 
        withheld from obligation for a period not to exceed 45 calendar 
        days from the date of receipt by Congress.
            ``(2) Early availability.--The President may make any 
        dollar amount of discretionary budget authority withheld from 
        obligation pursuant to paragraph (1) available at an earlier 
        time if the President determines that continued withholding 
        would not further the purposes of this Act.
    ``(f) Temporary Presidential Authority To Suspend.--
            ``(1) Suspend.--
                    ``(A) In general.--The President may not suspend 
                the execution of any item of direct spending or 
                targeted tax benefit until the President transmits and 
                Congress receives a special message pursuant to 
                subsection (b). Upon receipt by Congress of a special 
                message, the President may suspend the execution of any 
                item of direct spending or targeted tax benefit 
                proposed to be rescinded in that message for a period 
                not to exceed 45 calendar days from the date of receipt 
                by Congress.
                    ``(B) Limitation on 45-day period.--The 45-day 
                period described in subparagraph (A) shall be reduced 
                by the number of days contained in the period beginning 
                on the effective date of the item of direct spending or 
                targeted tax benefit; and ending on the date that is 
                the later of--
                            ``(i) the effective date of the item of 
                        direct spending or targeted benefit; or
                            ``(ii) the date that Congress receives the 
                        special message.
                    ``(C) Clarification.--Notwithstanding subparagraph 
                (B), in the case of an item of direct spending or 
                targeted tax benefit with an effective date within 45 
                days after the date of enactment, the beginning date of 
                the period calculated under subparagraph (B) shall be 
                the date that is 45 days after the date of enactment 
                and the ending date shall be the date that is the later 
                of--
                            ``(i) the date that is 45 days after 
                        enactment; or
                            ``(ii) the date that Congress receives the 
                        special message.
            ``(2) Early availability.--The President may terminate the 
        suspension of any item of direct spending or targeted tax 
        benefit suspended pursuant to paragraph (1) at an earlier time 
        if the President determines that continuation of the suspension 
        would not further the purposes of this Act.
    ``(g) Definitions.--In this part:
            ``(1) Appropriation law.--The term `appropriation law' 
        means any general or special appropriation Act, and any Act or 
        joint resolution making supplemental, deficiency, or continuing 
        appropriations.
            ``(2) Calendar day.--The term `calendar day' means a 
        standard 24-hour period beginning at midnight.
            ``(3) Days of session.--The term `days of session' means 
        only those days on which both Houses of Congress are in 
        session.
            ``(4) Dollar amount of discretionary budget authority.--The 
        term `dollar amount of discretionary budget authority' means 
        the dollar amount of budget authority and obligation 
        limitations--
                    ``(A) specified in an appropriation law, or the 
                dollar amount of budget authority required to be 
                allocated by a specific proviso in an appropriation law 
                for which a specific dollar figure was not included;
                    ``(B) represented separately in any table, chart, 
                or explanatory text included in the statement of 
                managers or the governing committee report accompanying 
                such law;
                    ``(C) required to be allocated for a specific 
                program, project, or activity in a law (other than an 
                appropriation law) that mandates obligations from or 
                within accounts, programs, projects, or activities for 
                which budget authority or an obligation limitation is 
                provided in an appropriation law;
                    ``(D) represented by the product of the estimated 
                procurement cost and the total quantity of items 
                specified in an appropriation law or included in the 
                statement of managers or the governing committee report 
                accompanying such law; or
                    ``(E) represented by the product of the estimated 
                procurement cost and the total quantity of items 
                required to be provided in a law (other than an 
                appropriation law) that mandates obligations from 
                accounts, programs, projects, or activities for which 
                dollar amount of discretionary budget authority or an 
                obligation limitation is provided in an appropriation 
                law.
            ``(5) Rescind or rescission.--The term `rescind' or 
        `rescission' means--
                    ``(A) in the case of a dollar amount of 
                discretionary budget authority, to reduce or repeal a 
                provision of law to prevent that budget authority or 
                obligation limitation from having legal force or 
                effect; and
                    ``(B) in the case of direct spending or targeted 
                tax benefit, to repeal a provision of law in order to 
                prevent the specific legal obligation of the United 
                States from having legal force or effect.
            ``(6) Direct spending.--The term `direct spending' means 
        budget authority provided by law (other than an appropriation 
        law), mandatory spending provided in appropriation Acts, and 
        entitlement authority.
            ``(7) Item of direct spending.--The term `item of direct 
        spending' means any specific provision of law enacted after the 
        effective date of the Second Look at Wasteful Spending Act of 
        2009 that is estimated to result in an increase in budget 
        authority or outlays for direct spending relative to the most 
        recent levels calculated consistent with the methodology 
        described in section 257 of the Balanced Budget and Emergency 
        Deficit Control Act of 1985 and included with a budget 
        submission under section 1105(a) of title 31, United States 
        Code, and, with respect to estimates made after that budget 
        submission that are not included with it, estimates consistent 
        with the economic and technical assumptions underlying the most 
        recently submitted President's budget.
            ``(8) Suspend the execution.--The term `suspend the 
        execution' means, with respect to an item of direct spending or 
        a targeted tax benefit, to stop the carrying into effect of the 
        specific provision of law that provides such benefit.
            ``(9) Targeted tax benefit.--The term `targeted tax 
        benefit' means--
                    ``(A) any revenue provision that has the practical 
                effect of providing more favorable tax treatment to a 
                particular taxpayer or limited group of taxpayers when 
                compared with other similarly situated taxpayers; or
                    ``(B) any Federal tax provision which provides one 
                beneficiary temporary or permanent transition relief 
                from a change to the Internal Revenue Code of 1986.''.
    (b) Exercise of Rulemaking Powers.--Section 904 of the 
Congressional Budget Act of 1974 (2 U.S.C. 621 note) is amended--
            (1) in subsection (a), by striking ``and 1017'' and 
        inserting ``1017, and 1021''; and
            (2) in subsection (d), by striking ``section 1017'' and 
        inserting ``sections 1017 and 1021''.
    (c) Clerical Amendments.--
            (1) Short title.--Section 1(a) of the Congressional Budget 
        and Impoundment Control Act of 1974 is amended by--
                    (A) striking ``Parts A and B'' before ``title X'' 
                and inserting ``Parts A, B, and C''; and
                    (B) striking the last sentence and inserting at the 
                end the following new sentence: ``Part C of title X 
                also may be cited as the `Second Look at Wasteful 
                Spending Act of 2009'.''.
            (2) Table of contents.--The table of contents set forth in 
        section 1(b) of the Congressional Budget and Impoundment 
        Control Act of 1974 is amended by deleting the contents for 
        part C of title X and inserting the following:

                ``Part C--Enhanced Rescission Authority

``Sec. 1021. Expedited consideration of certain proposed 
                            rescissions.''.
    (d) Severability.--If any provision of this Act or the amendments 
made by it is held to be unconstitutional, the remainder of this Act 
and the amendments made by it shall not be affected by the holding.
    (e) Effective Date and Expiration.--
            (1) Effective date.--The amendments made by this Act 
        shall--
                    (A) take effect on the date of enactment of this 
                Act; and
                    (B) apply to any dollar amount of discretionary 
                budget authority, item of direct spending, or targeted 
                tax benefit provided in an Act enacted on or after the 
                date of enactment of this Act.
            (2) Expiration.--The amendments made by this Act shall 
        expire on December 31, 2010.
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