S.Amdt. 1700

SA 1700. Ms. STABENOW (for herself, Ms. Baldwin, Ms. Heitkamp, and
Ms. Klobuchar) submitted an amendment intended to be proposed by her to
the bill H.R. 1, to provide for reconciliation pursuant to titles II
and V of the concurrent resolution on the budget for fiscal year 2018;
which was ordered to lie on the table; as follows:

Strike section 13305 and insert the following:

SEC. 13305. REPEAL OF DEDUCTION FOR DOMESTIC PRODUCTION
ACTIVITIES FOR FOSSIL FUELS; DELAY IN CORPORATE
RATE REDUCTION.

(a) Repeal of Deduction for Domestic Production Activities
for Fossil Fuels.--
(1) In general.--Subparagraph (B) of section 199(c)(4) is
amended by striking ``or'' at the end of clause (ii), by
striking the period at the end of clause (iii) and inserting
``, or'', and by adding at the end the following new clauses:
``(iv) the production, refining, processing,
transportation, or distribution of oil, gas, or any primary
product thereof.''.
(2) Conforming amendments.--
(A) Section 199(c)(3) is amended by striking subparagraph
(C).
(B) Section 199(c)(4)(A)(i)(III) is amended by striking ``,
natural gas,''.

[[Page S7592]]

(C) Section 199(d)(9) is amended by striking all through
``the term `primary product' '' in subparagraph (C) and
inserting the following:
``(9) Primary product.--For purposes of subsection
(c)(4)(B), the term `primary product''.' ''.
(3) Effective date.--The amendments made by this subsection
shall apply to gross receipts received after December 31,
2017.
(b) Delay of Corporate Rate Reduction.--Section 13001(c)
and 13002(f) of this Act are each amended by striking
``2018'' each place it appears and inserting ``2019''.
______