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DemocratAmendment · S.Amdt. 995· Senate(119-SAMDT-995)

S.Amdt. 995

Rep. Baldwin
Age: 64 years
Wisconsin
Introduced
2/20/2025
Sponsored by
Tammy Baldwin
Cosponsors
Democrat - 3Republican - 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

This amendment, labeled SA 995, was submitted by Ms. Baldwin along with Mr. Whitehouse, Mr. Booker, and Mr. Wyden. Its purpose is to add a deficit-neutral reserve fund related to closing the carried interest loophole to the concurrent resolution.

What it aims to change or add:

  • It allows the Chairman of the Senate Committee on the Budget to revise committee allocations, aggregates, and other appropriate levels in the resolution.

  • It allows adjustments to the pay-as-you-go ledger for legislation relating to tax fairness.

  • It specifically mentions that tax fairness may include taxing the carried interest compensation of multimillionaire hedge fund managers at ordinary income rates.

  • It applies as long as the legislation does not increase the deficit over the total period of fiscal years 2025 through 2034.