CONGRESS FOR VOTERS

DemocratAmendment · S.Amdt. 1618· Senate(119-SAMDT-1618)

S.Amdt. 1618

Rep. Reed
Age: 77 years
Rhode Island
Introduced
4/3/2025
Sponsored by
John Reed
Cosponsors
None
Changes bill
119-HCONRES-14 — Establishing the congressional budget for the United States Government for fiscal year 2025 and setting forth the appropriate budgetary levels for fiscal years 2026 through 2034.
  1. Introduced
  2. Pending Consideration

What this amendment would do

MR. REED submitted amendment numbered SA 1618, which was proposed for the concurrent resolution H. Con. Res. 14 for the fiscal year 2025 congressional budget.

The purpose of this amendment is to establish a deficit-neutral reserve fund relating to eliminating corporate deductions for compensation in excess of $1,000,000.

  • It aims to allow the Chairman of the Committee on the Budget of the Senate to revise committee allocations, aggregates, and other levels in the resolution.
  • It makes adjustments to the pay-as-you-go ledger for legislation relating to reducing the tax code's subsidization of corporate compensation.
  • This may include eliminating corporate deductions for compensation in excess of $1,000,000.
  • The changes depend on the condition that the legislation would not increase the deficit over the total period of fiscal years 2025 through 2029 or fiscal years 2025 through 2034.