S.Amdt. 5445

SA 5445. Mr. KENNEDY submitted an amendment intended to be proposed by him to the bill H.R. 5376, to provide for reconciliation pursuant to title II of S. Con. Res. 14; which was ordered to lie on the table; as follows:

At the end of part 9 of subtitle D of title I and insert the following:

SEC. 1300_. EXTENSION OF DEDUCTION FOR QUALIFIED BUSINESS INCOME.

(a) In General.--Section 199A(i) of the Internal Revenue Code of 1986 is amended by striking “2025” and inserting “2030”.

(b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2022.

SEC. 13900_. EXTENSION OF LIMITATION ON DEDUCTION FOR STATE AND LOCAL TAXES.

(a) In General.--Section 164(b)(6) of the Internal Revenue Code of 1986 is amended--

(1) by striking “January 1, 2026” and inserting “January 1, 2031”, and

(2) by striking “2025” in the heading thereof and inserting “2030”.

(b) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2022.