Sec. 2. Table of contents
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Sec. 1. Short title. Sec. 2. Table of contents. Title I—BUDGET PROCESS AMENDMENTS Sec. 101. Repeal the 2013 and 2014 sequesters. Sec. 102. Reduction of Defense Discretionary Limits. Sec. 103. Protecting veterans programs from sequester. Title II—AGRICULTURAL SAVINGS Sec. 201. One-year extension of agricultural commodity programs, except direct payment programs. Title III—OIL AND GAS SUBSIDIES Sec. 301. Prohibition on using last-in, first-out accounting for major integrated oil companies.
Sec. 302. Deduction for income attributable to domestic production activities not allowed with respect to oil and gas activities of major integrated oil companies. Sec. 303. Limitation on deduction for intangible drilling and development costs of major integrated oil companies. Title IV—THE BUFFETT RULE Sec. 401. Fair share tax on high-income taxpayers. Title V—SENSE OF THE HOUSE Sec. 501. Sense of the House on the need for a fair, balanced and bipartisan approach to long-term deficit reduction.