S.Amdt. 3665

SA 3665. Mr. TOOMEY submitted an amendment intended to be proposed by
him to the concurrent resolution S. Con. Res. 14, setting forth the
congressional budget for the United States Government for fiscal year
2022 and setting forth the appropriate budgetary levels for fiscal
years 2023 through 2031; which was ordered to lie on the table; as
follows:

At the appropriate place in title IV, add the following:

SEC. 4___. POINT OF ORDER AGAINST REPEALING THE INTANGIBLE
DRILLING COST DEDUCTION FOR OIL AND GAS WELLS.

(a) Point of Order.--It shall not be in order in the Senate
to consider any bill, joint resolution, motion, amendment,
amendment between the Houses, or conference report that would
repeal the intangible drilling cost deduction for oil and gas
wells under section 263(c) of the Internal Revenue Code of
1986.
(b) Waiver and Appeal.--Subsection (a) may be waived or
suspended in the Senate only by an affirmative vote of three-
fifths of the Members, duly chosen and sworn. 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
subsection (a).
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