To provide for the use of the deficit-neutral reserve fund for tax relief to reinstate and expand the charitable IRA rollover.

1. Inserts “, reinstatement of expired tax relief, such as enhanced charitable giving from individual…” after “expiring tax relief”

   InsertsPage 50, line 20Printed page

   In S.Con.Res. 70 · Placed on Calendar Senate

   SEC. 301. DEFICIT-NEUTRAL RESERVE FUND TO STRENGTHEN AND STIMULATE THE AMERICAN ECONOMY AND PROVIDE ECONOMIC RELIEF TO AMERICAN FAMILIES.

   (a) Tax Relief.--The Chairman of the Senate Committee on the Budget may revise the aggregates, allocations, and other appropriate levels in this resolution for one or more bills, joint resolutions, amendments, motions, or conference reports that would provide tax relief, including extensions of expiring tax relief[struck: ][inserted: , reinstatement of expired tax relief, such as enhanced charitable giving from individual retirement accounts, including life-income gifts, ]and refundable tax relief, by the amounts provided in that legislation for those purposes, provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2008 through 2013 or the period of the total of fiscal years 2008 through 2018.

   (b) Manufacturing.--The Chairman of the Senate Committee on the Budget may revise the allocations, aggregates, and other appropriate levels in this resolution for one or more bills, joint resolutions, amendments, motions, or conference reports, including tax legislation, that would revitalize the United States domestic manufacturing sector by increasing Federal research and development, by expanding the scope and effectiveness of manufacturing programs across the Federal government, by increasing support for development of alternative fuels and leap-ahead automotive and energy technologies, or by establishing tax incentives to encourage the continued production in the United States of advanced technologies and the infrastructure to support such technologies, by the amounts provided in that legislation for those purposes, provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2008 through 2013 or the period of the total of fiscal years 2008 through 2018.

   Original wording

   On page 50, line 20, insert “, reinstatement of expired tax relief, such as enhanced charitable giving from individual retirement accounts, including life-income gifts,” after “expiring tax relief”.

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As printed