S.Amdt. 4585

SA 4585. Mr. WYDEN submitted an amendment intended to be proposed by
him to the bill S. 1383, to establish the Veterans Advisory Committee
on Equal Access, and for other purposes; which was ordered to lie on
the table; as follows:

At the appropriate place, insert the following:

SEC. __. INCREASE IN TOP INDIVIDUAL TAX RATE.

(a) In General.--Section 1(j) of the Internal Revenue Code
of 1986 is amended by inserting after paragraph (3) the
following new paragraph:
``(4) Modifications to income tax brackets for high-income
taxpayers.--
``(A) 37-percent rate bracket.--In the case of taxable
years beginning after December 31, 2025, the rate of tax
under subparagraphs (A), (B), (C), and (D) of paragraph (2)
on a taxpayer's taxable income in excess of the applicable
threshold shall be 39.6 percent.
``(B) Applicable threshold.--For purposes of this
paragraph, the term `applicable threshold' means--
``(i) $800,000,000 in the case of paragraph (2)(A), (2)(B),
and (2)(C), and
``(ii) \1/2\ the amount applicable under clause (i) in the
case of paragraph (2)(D).''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2025.
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