NOTE: THIS IS AN AMENDMENT TO A NON-BINDING CONCURRENT BUDGET RESOLUTION THAT SETS THE FUNDING LEVEL FOR DISCRETIONARY SPENDING. IT IS NOT SIGNED BY THE PRESIDENT AND THEREFORE DOES NOT HOLD THE WEIGHT OF LAW, BUT IS USED AS A GUIDE FOR CONGRESS AS IT PASSES THE ANNUAL APPROPRIATION AND OTHER BILLS.
Title: Reinstate Pay-As-You-Go through 2011 Amendment
Vote Smart's Synopsis:
Vote to adopt an amendment that prohibits the Senate from considering legislation that would increase the current "on-budget deficit" or create an "on-budget deficit" at any time from 2006 to 2011.
Excludes budget concurrent resolutions and legislation setting the amount of money the Federal government will provide if a bank or other depository institution falters from the pay-as-you-go requirement.
Allows the pay-as-you-go requirements to be waived with a three-fifths vote by the full Senate.