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Full Text of this Amendment
At the appropriate place, insert the following:
SEC. . REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS.
(a) IN GENERAL.--Section 9006 of the Patient Protection and Affordable Care Act, and the amendments made thereby, are hereby repealed; and the Internal Revenue Code of 1986 shall be applied as if such section, and amendments, had never been enacted.
(b) RESCISSION OF UNSPENT FEDERAL FUNDS TO OFFSET LOSS IN REVENUES.--
(1) IN GENERAL--Notwithstanding any other provision of law, of all available unobligated funds, $39,000,000,000 are hereby rescinded.
(2) IMPLEMENTATION.--The Director of the Office of Management and Budget shall determine and identify from which accounts the rescission under paragraph (1) shall apply and the amount of such rescission that shall apply to each such account. Not later than 60 days after the date of the enactment of this Act, the Director of the Office of Management and Budget shall submit a report to the Secretary of the Treasury and Congress of the accounts and amounts determined and identified for rescission
under the preceding sentence.
(As printed in the Congressional Record for the Senate on Feb 1, 2011.)