To provide for a deficit-neutral reserve fund to provide for the extension of the top individual tax rates for small businesses after 2010.
What it does: Adds SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO PROVIDE FOR THE EXTENSION OF THE TOP INDIVIDUAL TAX RATES FOR SMALL BUSINESSES at the end of title II
Sen. Olympia J. Snowe (R-ME)What it changes
1 change to S.Con.Res. 13 · shown in the resolution's text
Adds SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO PROVIDE FOR THE EXTENSION OF THE TOP INDIVIDUAL TAX RATES FOR SMALL BUSINESSES at the end of title II
Adds a sectionIn S.Con.Res. 13 · 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 appropriate levels and limits in this resolution for one or more bills, joint resolutions, amendments, motions, or conference reports that increase transparency at the Federal Reserve System, including audits of the Board of Governors of the Federal Reserve System and the Federal reserve banks and increased public disclosure with respect to the recipients of all loans and other financial assistance it has provided since March 24, 2008, 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 2009 through 2014 or the period of the total of fiscal years 2009 through 2019.
Inserted: SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO PROVIDE FOR THE EXTENSION OF THE TOP INDIVIDUAL TAX RATES FOR SMALL BUSINESSES.
Inserted: The Chairman of the Senate Committee on the Budget may revise the allocations of a committee or committees, aggregates, and other appropriate levels and limits in this resolution for one or more bills, joint resolutions, amendments, motions, or conference reports that maintains the rates of tax under section 1 of the Internal Revenue Code of 1986 for the highest two rate brackets at 33 percent and 35 percent, respectively, for individuals who receive more than 50 percent of income from a small business concern (as defined under section 3 of the Small Business Act), by the amounts provided by that legislation for those purposes, provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2009 through 2014 or the period of the total of fiscal years 2009 through 2019.
Original wording
At the end of title II, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 773. Ms. SNOWE submitted an amendment intended to be proposed by her to the concurrent resolution S. Con. Res. 13, setting forth the congressional budget for the United States Government for fiscal year 2010, revising the appropriate budgetary levels for fiscal year 2009, and setting forth the appropriate budgetary levels for fiscal years 2011 through 2014; which was ordered to lie on the table; as follows:
At the end of title II, insert the following:
SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO PROVIDE FOR THE EXTENSION OF THE TOP INDIVIDUAL TAX RATES FOR SMALL BUSINESSES.
The Chairman of the Senate Committee on the Budget may revise the allocations of a committee or committees, aggregates, and other appropriate levels and limits in this resolution for one or more bills, joint resolutions, amendments, motions, or conference reports that maintains the rates of tax under section 1 of the Internal Revenue Code of 1986 for the highest two rate brackets at 33 percent and 35 percent, respectively, for individuals who receive more than 50 percent of income from a small business concern (as defined under section 3 of the Small Business Act), by the amounts provided by that legislation for those purposes, provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2009 through 2014 or the period of the total of fiscal years 2009 through 2019.
Legislative Activity
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Senate amendment agreed to: Amendment SA 773 agreed to in Senate by Voice Vote.
April 2, 2009
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Senate amendment agreed to: Amendment SA 773 agreed to in Senate by Voice Vote.
April 2, 2009
Senate amendment proposed (on the floor): Amendment SA 773 proposed by Senator Snowe.(consideration: CR S4261; text: CR S4261)
April 2, 2009
Amendment SA 773 proposed by Senator Snowe. (consideration: CR S4261; text: CR S4261) To provide for a deficit-neutral reserve fund to provide for the extension of the top individual tax rates for small businesses after 2010.
April 2, 2009
Amendment SA 773 agreed to in Senate by Voice Vote.
April 2, 2009
Senate amendment submitted
March 31, 2009