S.Amdt. 2508
What it does: Adds SEC. __. POINT OF ORDER ON LEGISLATION THAT RAISES INCOME TAX RATES ON SMALL BUSINESSES at the end of the bill
Sen. John Cornyn (R-TX)What it changes
1 change to S. 2237 · shown in the bill's text
Adds SEC. __. POINT OF ORDER ON LEGISLATION THAT RAISES INCOME TAX RATES ON SMALL BUSINESSES at the end of the bill
Adds a sectionIn S. 2237 · Placed on Calendar Senate
(ii) multiplying the limitation under subparagraph (B)(ii) of such paragraph (as so in effect) by a fraction the numerator of which is the number of days in the taxable year after December 31, 2011, and the denominator of which is the number of days in the taxable year.
Inserted: SEC. __. POINT OF ORDER ON LEGISLATION THAT RAISES INCOME TAX RATES ON SMALL BUSINESSES.
Inserted: (a) Point of Order.--
Inserted: (1) In general.--In the Senate, it shall not be in order to consider any bill, joint resolution, amendment, motion, or conference report that includes any provision which increases Federal income tax rates.
Inserted: (2) Definition.--In this section, the term "Federal income tax rates" means any rate of tax under--
Inserted: (A) subsection (a), (b), (c), (d), or (e) of section 1 of the Internal Revenue Code of 1986,
Inserted: (B) section 11(b) of such Code, or
Inserted: (C) section 55(b) of such Code.
Inserted: (b) Supermajority Waiver and Appeals.--
Inserted: (1) Waiver.--This section may be waived or suspended in the Senate only by an affirmative vote of three-fifths of the Members, dully chosen and sworn.
Inserted: (2) Appeals.--An affirmative vote of three-fifths of the Members of the Senate, duly chosen and sworn, shall be required to sustain an appeal of the ruling of the Chair on a point of order raised under this section.
Original wording
At the end, add the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 2508. Mr. CORNYN submitted an amendment intended to be proposed by him to the bill S. 2237, to provide a temporary income tax credit for increased payroll and extend bonus depreciation for an additional year, and for other purposes; which was ordered to lie on the table; as follows:
At the end, add the following:
SEC. __. POINT OF ORDER ON LEGISLATION THAT RAISES INCOME TAX RATES ON SMALL BUSINESSES.
(a) Point of Order.--
(1) In general.--In the Senate, it shall not be in order to consider any bill, joint resolution, amendment, motion, or conference report that includes any provision which increases Federal income tax rates.
(2) Definition.--In this section, the term “Federal income tax rates” means any rate of tax under--
(A) subsection (a), (b), (c), (d), or (e) of section 1 of the Internal Revenue Code of 1986,
(B) section 11(b) of such Code, or
(C) section 55(b) of such Code.
(b) Supermajority Waiver and Appeals.--
(1) Waiver.--This section may be waived or suspended in the Senate only by an affirmative vote of three-fifths of the Members, dully chosen and sworn.
(2) Appeals.--An affirmative vote of three-fifths of the Members of the Senate, duly chosen and sworn, shall be required to sustain an appeal of the ruling of the Chair on a point of order raised under this section.
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Senate amendment submitted
July 11, 2012