Vote Smart's Synopsis:

Vote to pass Title IV of the resolution that amends Rule XXI to require that any tax cuts must be offset by either a different tax increase or spending cut, and to require certain listings of congressional earmarks and limited tax and tariff benefits.

Highlights:

• Makes it out of order to consider any legislation unless the report includes a list of congressional earmarks and the name of the requesting Member (Sec. 404).

• Provides for information and written disclosures to be made available regarding any congressional earmarks, limited tax benefits, or limited tariff benefits included in any legislation or conference report (Sec. 404).

• Defines limited tax benefit as (Sec. 404):
• Any revenue-losing provision that provides federal tax deduction, credit, exclusion, or preference to 10 or fewer beneficiaries under the Internal Revenue Code; or
• Any federal tax provision which provides one beneficiary temporary or permanent transition relief from a change to such Code.

• Defines limited tariff benefit as a provision modifying the Harmonized Tariff Schedule of the United States in a manner that benefits 10 or fewer entities (Sec. 404).

• Makes it out of order to consider any amendment to, resolution on, or conference report on the budget that reduces the surplus or increases the deficit for the current fiscal year and the five or 10 ensuing fiscal years (Sec. 405).

Full Bill Text
Full Bill Text

Full Bill Text