Pete Domenici: “this Domenici-Nunn amendment strikes the Exon amendment which cuts discretionary spending by $26 billion in outlays from…”

“this Domenici-Nunn amendment strikes the Exon amendment which cuts discretionary spending by $26 billion in outlays from 1995 to 1999. It strikes that amendment, thus placing the discretionary accounts at the level that they would have been at had that amendment not been adopted, which was essentially the discretionary accounts in Chairman Sasser's mark. Second, this amendment reduces mandatory spending by $20 billion from 1995 to 1999 by extending several Medicare fee and veterans' provisions contained in the 1993 reconciliation bill which would otherwise expire. Third, this amendment accepts the Exon-Grassley discretionary spending cuts of $6 billion for 1999. There are no caps in 1999, so the Exon-Grassley cuts in 1999 were unenforceable as the $6 billion that we use of their total cuts for 1999. And fourth, this amendment, in a very unique way but nonetheless very enforceable, makes the mandatory spending reductions in this amendment absolutely mandatory by prohibiting a committee from moving forward with deficit-neutral legislation which they are given authority to do in this budget resolution until the mandatory savings required by this amendment are achieved. Thus, the Senator from New Mexico, joined by Senator Nunn and Senator Thurmond, contend and lay before the Senate a proposition; namely, that the Exon amendment is destined to reduce defense substantially.”