S.Amdt. 4275
What it does: Adds SEC. ___. RESERVE FUND FOR FUNDAMENTAL TAX REFORM at the end of title III
Sen. Chuck Grassley (R-IA)What it changes
1 change to S.Con.Res. 70 · shown in the resolution's text
Adds SEC. ___. RESERVE FUND FOR FUNDAMENTAL TAX REFORM at the end of title III
Adds a sectionIn S.Con.Res. 70 · Placed on Calendar Senate
The Chairman of the Senate Committee on the Budget may revise the allocations of a committee or committees, aggregates, and other levels in this resolution for one or more bills, joint resolutions, amendments, motions, or conference reports that would authorize salary adjustments for justices and judges of the United States or increase the number of Federal judgeships, by the amounts provided in such 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.
Inserted: SEC. ___. RESERVE FUND FOR FUNDAMENTAL TAX REFORM.
Inserted: The Chairman of the Senate Committee on the Budget may revise the allocations, aggregates, and other levels in this resolution by the amounts provided by a bill, joint resolution, amendment, motion, or conference report that would provide for fundamental tax reform, provided that such legislation does not increase the tax burden on taxpayers for fiscal year 2011 and succeeding fiscal years. For purposes of the preceding sentence, the burden on taxpayers shall be measured by comparing the post-World War II average of the ratio of Federal revenues to gross domestic product, as determined by the historical tables of the Office of Management and Budget, to the estimated average of the ratio of Federal revenues to gross domestic product after such legislation takes effect, as determined by the Congressional Budget Office in consultation with the Joint Committee on Taxation.
Original wording
At the end of title III, add the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 4275. Mr. GRASSLEY submitted an amendment intended to be proposed by him to the concurrent resolution S. Con. Res. 70, setting forth the congressional budget for the United States Government for fiscal year 2009 and including the appropriate budgetary levels for fiscal years 2008 and 2010 through 2013; which was ordered to lie on the table; as follows:
At the end of title III, add the following:
SEC. ___. RESERVE FUND FOR FUNDAMENTAL TAX REFORM.
The Chairman of the Senate Committee on the Budget may revise the allocations, aggregates, and other levels in this resolution by the amounts provided by a bill, joint resolution, amendment, motion, or conference report that would provide for fundamental tax reform, provided that such legislation does not increase the tax burden on taxpayers for fiscal year 2011 and succeeding fiscal years. For purposes of the preceding sentence, the burden on taxpayers shall be measured by comparing the post-World War II average of the ratio of Federal revenues to gross domestic product, as determined by the historical tables of the Office of Management and Budget, to the estimated average of the ratio of Federal revenues to gross domestic product after such legislation takes effect, as determined by the Congressional Budget Office in consultation with the Joint Committee on Taxation.
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Senate amendment submitted
March 12, 2008