S.Amdt. 1043

SA 1043. Mr. SCHUMER (for himself, Mr. Wyden, Mr. Durbin, Mrs. Murray, Ms. Stabenow, Mr. Brown, Mr. Casey, Mr. Menendez, Mr. Whitehouse, and Mr. Cardin) submitted an amendment intended to be proposed by him to the concurrent resolution S. Con. Res. 11, setting forth the congressional budget for the United States Government for fiscal year 2016 and setting forth the appropriate budgetary levels for fiscal years 2017 through 2025; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. DEFICIT-NEUTRAL RESERVE FUND RELATING TO EXPANDING AND MAKING PERMANENT THE AMERICAN OPPORTUNITY TAX CREDIT.

The Chairman of the Committee on the Budget of the Senate may revise the allocations of a committee or committees, aggregates, and other appropriate levels in this resolution for one or more bills, joint resolutions, amendments, amendments between the Houses, motions, or conference reports relating to education tax benefits and the American opportunity tax credit, which may include increasing the maximum annual amount of credit allowed, increasing the income thresholds for phasing out the credit, adjustments to lifetime limitations on the credit, increasing refundability of the credit, and excluding amounts received as Pell Grants from income, 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 2016 through 2020 or the period of the total of fiscal years 2016 through 2025.