To modify the limit on excessive remuneration paid by certain health insurance providers to set the limit at the same levels as the salary of the President of the United States.

SA 2905. Mrs. LINCOLN (for herself, Mr. Lautenberg, Mr. Menendez, Mr.
Franken, Mrs. Boxer, and Mr. Reed) proposed an amendment to amendment
SA 2786 proposed by Mr. Reid (for himself, Mr. Baucus, Mr. Dodd, and
Mr. Harkin) to the bill H.R. 3590, to amend the Internal Revenue Code
of 1986 to modify the first-time homebuyers credit in the case of
members of the Armed Forces and certain other Federal employees, and
for other purposes; as follows:

On page 2040, strike line 14 and insert the following:
(b) Dollar Limit Not To Exceed Compensation of the
President.--
(1) In general.--Paragraph (6) of section 162(m) of the
Internal Revenue Code of 1986, as added by subsection (a), is
amended by adding at the end the following new subparagraph:
``(I) Dollar limit not to exceed compensation of the
president.--In the case of a taxable year in which the
$500,000 amount in clauses (i) and (ii) of subparagraph (A)
exceeds the dollar amount of the compensation received by the
President under section 102 of title 3, United States Code,
for such taxable year, such clauses shall be applied by
substituting the dollar amount provided in such section 102
for such $500,000 amount.''.
(2) Revenue increase to be transferred to medicare trust
fund.--Section 1817(a) of the Social Security Act (42 U.S.C.
1395i(a)) is amended--
(A) by striking ``and'' at the end of paragraph (1),
(B) by striking the period at the end of paragraph (2) and
inserting ``; and'', and
(C) by inserting after paragraph (2) the following new
paragraph:
``(3) the revenues resulting from the application of
section 162(m)(6) of the Internal Revenue Code of 1986, as
determined by the Secretary of the Treasury or such
Secretary's delegate.''.
(c) Effective Date.--The amendments made by
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