S.Amdt. 1461

SA 1461. Mr. HOEVEN submitted an amendment intended to be proposed to
amendment SA 1116 proposed by Mr. Enzi to the concurrent resolution H.
Con. Res. 71, establishing the congressional budget for the United
States Government for fiscal year 2018 and setting forth the
appropriate budgetary levels for fiscal years 2019 through 2027; which
was ordered to lie on the table; as follows:

At the end of title III, add the following:

SEC. 3 ___. DEFICIT-NEUTRAL RESERVE FUND RELATING TO TAX
RELIEF FOR NON-CORPORATE SMALL BUSINESS OWNERS.

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,
and make adjustments to the pay-as-you-go ledger, for one or
more bills, joint resolutions amendments, amendments between
the Houses, motions, or conference reports relating to
changes in Federal tax laws, which may include reducing the
roughly 45% top marginal rate applicable to small business
owners, in a manner that will prevent re-characterization of
personal income as business income, and further reform the
pass-through area, including loophole closers 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 2018 through
2027.
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