[Congressional Record Volume 143, Number 145 (Friday, October 24, 1997)]
[Senate]
[Page S11206]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          AMENDMENTS SUBMITTED

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          THE ECONOMIC GROWTH DIVIDEND PROTECTION ACT OF 1997

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                       ABRAHAM AMENDMENT NO. 1524

  (Ordered referred jointly to the Committee on the Budget and to the 
Committee on Governmental Affairs.)
  Mr. ABRAHAM submitted an amendment intended to be proposed by him to 
the bill (S. 800) to create a tax cut reserve fund to protect revenues 
generated by economic growth; as follows:

       On page 2, strike lines 6 through 13 and insert the 
     following:
       ``(1) Estimate.--OMB shall, for any amount by which 
     revenues for a budget year and any outyears through fiscal 
     year 2002 exceed the revenue target absent growth, estimate 
     the excess (less any unexpected excess receipts (including 
     attributable interest) of the Federal Old-Age and Survivors 
     Insurance and the Federal Disability Insurance Trust Funds, 
     the Federal Hospital Insurance Trust Fund established by 
     section 1817 of the Social Security Act, and the Highway 
     Trust Fund) and include such estimate as a separate entry in 
     the report prepared pursuant to subsection (d) at the same 
     time as the OMB sequestration preview report is issued.
       On page 3, strike lines 18 and 19 and insert the following: 
     ``be considered to be in order for purposes of the 
     Congressional Budget Act of 1974.''.

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