S.Amdt. 2713

SA 2713. Ms. ROSEN submitted an amendment intended to be proposed 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; which was ordered to lie on the table; as follows:

On page 247, strikes line 3 through 10 and insert the
following:
(a) Enhancement of Child Tax Credit.--
(1) Credit made fully refundable.--Subsection (d) of
section 32 is amended to read as follows:
``(d) Credit Fully Refundable.--
``(1) In general.--The aggregate credits allowed to a
taxpayer under subpart C shall be increased by the amount of
the credit which would be allowed under this section without
regard to this subsection and the limitation under section
26(a).
``(2) Exception for taxpayers excluding foreign earned
income.--Paragraph (1) shall not apply to any taxpayer for
any taxable year if such taxpayer elects to exclude any
amount from gross income under section 911 for such taxable
year.''.
(2) Extension and increase of expanded child tax credit.--
Section 24(h) is amended--
(A) in paragraph (1), by striking ``, and before January 1,
2026'',
(B) in paragraph (2), by striking ``$2,000'' and inserting
``$3,600 (or, in the case of a qualifying child who has not
attained age 6, $4,320)'',
(C) by striking ``2018 Through 2025'' in the heading and
inserting ``Beginning After 2017'', and
(D) by striking paragraph (5).
(3) Increase in corporate tax rate.--Section 11(b) is
amended to read as follows:
``(b) Amount of Tax.--The amount of the tax imposed by
subsection (a) shall be the sum of--
``(1) 21 percent of so much of the taxable income as does
not exceed $100,000,000, and
``(2) 28 percent of so much of the taxable income as
exceeds $100,000,000.''.
______