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DemocratAmendment · S.Amdt. 206· Senate(119-SAMDT-206)

S.Amdt. 206

Rep. Baldwin
Age: 64 years
Wisconsin
Introduced
2/20/2025
Sponsored by
Tammy Baldwin
Cosponsors
Democrat - 1Republican - 0
Changes bill
119-SCONRES-7 — An original concurrent resolution setting forth 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

  • What it is: This is SA 206, submitted by Ms. Baldwin and Mr. Whitehouse. It is an amendment proposed for the concurrent budget resolution for the United States Government for fiscal year 2025 and levels through 2034.

  • Its purpose: The amendment aims to add a deficit-neutral reserve fund related to closing the carried interest loophole.

  • What it changes or adds: It allows the Chairman of the Committee on the Budget of the Senate to make adjustments and revise allocations for legislation relating to tax fairness. Specifically, this may include taxing carried interest compensation at ordinary income rates and treating it as wage income subject to employment taxes, as long as the legislation does not increase the deficit from fiscal years 2025 through 2034.