To amend the Internal Revenue Code of 1986 to extend the enhanced premium tax credits and increase the individual tax rate for taxpayers with income of $10,000,000.
Sen. Jon Ossoff (D-GA)Legislative Activity
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Senate amendment submitted
June 30, 2025
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Senate amendment submitted
June 30, 2025
Roll call votes on amendments in Senate: Motion to waive section 302(f) of the Congressional Budget Act with respect to amendment SA 2696 rejected in Senate by Yea-Nay Vote. 47 - 53. Record Vote Number: 339.
June 30, 2025
Senate amendment proposed (on the floor): Amendment SA 2696 proposed by Senator Ossoff to Amendment SA 2360.
June 30, 2025
Amendment SA 2696 proposed by Senator Ossoff to Amendment SA 2360. (consideration: CR S4046-4047)
June 30, 2025
Point of order that the amendment violates section 302(f) of the Congressional Budget Act raised in Senate with respect to amendment SA 2696.
June 30, 2025
Motion to waive section 302(f) of the Congressional Budget Act with respect to amendment SA 2696 rejected in Senate by Yea-Nay Vote. 47 - 53. Record Vote Number: 339.
June 30, 2025
Amendment SA 2696 ruled out of order by the chair.
June 30, 2025
Votes
1 roll call on this amendment
Text
Submitted
SA 2696. Mr. OSSOFF (for himself, Ms. Baldwin, Mr. Warnock, Mr. Hickenlooper, Mr. Bennet, and Mr. Lujan) proposed an amendment to amendment SA 2360 proposed by Mr. Thune (for Mr. Graham) to the bill H.R. 1, to provide for reconciliation pursuant to title II of H. Con. Res. 14; as follows: At the appropriate place, insert the following: SEC. _____. EXTENSION OF ENHANCED PREMIUM TAX CREDITS. (a) In General.--Section 36B(b)(3)(A)(iii) is amended-- (1) by striking ``, and before January 1, 2026'', and (2) by striking ``2021 through 2025'' in the heading and inserting ``years after 2020''. (b) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2025. SEC. _____. 39.6 PERCENT RATE BRACKET. (a) In General.--Section 1(j)(2) is amended by redesignating subparagraph (F) as subparagraph (G) and by inserting after subparagraph (E) the following new subparagraph: ``(F) 39.6 percent rate bracket.--Notwithstanding subparagraphs (A) through (E), in prescribing the tables under this subsection for purposes of paragraph (3)(B)-- ``(i) the excess of taxable income over $10,000,000 ($5,000,000, in the case of married individuals filing separate returns), if any, shall be taxed at a rate of 39.6 percent, and ``(ii) paragraph (3)(B)(i) shall be applied with respect to such $10,000,000 and $5,000,000 amounts by substituting `2024' for `2017'.''. (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2025. ______