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It's factual. You can see the text (simple as it is) here:

http://thomas.loc.gov/cgi-bin/query/...H.J.RES.24.IH:

You can read Rep. Hoyer's remarks here (begins at the end of the page and the bulk is on the next):

http://frwebgate.access.gpo.gov/cgi-...me=2005_record

He's a Democrat, btw. Apparently, the amendment wouldn't allow Bush (and, I suppose, any other previous President) to run again but would repeal term limits for any future Presidents once the amendment was ratified (which could take a long time).

Anyway, not sure if I fully agree with him, but he certainly makes some interesting points.
 

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You just need to scroll to the bottom of the page and click "Next Page" (or something similar).

I'm not entirely clear how it would work to keep previous Presidents from running again, either, but that's what Hoyer said. What I think he may have meant is that by the time the amendment is ratified, Bush will be pretty much out of politics. It's a huge, lengthy ordeal to amend the Constitution (thankfully).
 
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