S.Amdt. 3058

SA 3058. Mr. ENSIGN submitted an amendment intended to be proposed 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; which was ordered to lie on the
table; as follows:

On page 2074, after line 25, add the following:

SEC. ____. NO FEDERAL TAX INCREASE IMPOSED ON MIDDLE INCOME
INDIVIDUALS AND FAMILIES.

(a) In General.--Notwithstanding any provision of, or
amendment made by this Act, no such provision or amendment
which, directly or indirectly, results in a Federal tax
increase shall be administered in such manner as to impose
such an increase on any middle income taxpayer.
(b) Middle Income Taxpayer.--For purposes of this section,
the term ``middle income taxpayer'' means, for any taxable
year,

[[Page S12728]]

any taxpayer with adjusted gross income (as defined in
section 62 of the Internal Revenue Code of 1986) of less than
$200,000 ($250,000 in the case of a joint return of tax).
______