PlainBillCongress, translated.Legislation. Context. Public interest.Became Public Law No: 109-222.
Congressional Research Service
Version 49 · Public Law · May 17, 2006
(This measure has not been amended since the Conference Report was filed in the House on May 9, 2006. The summary of that version is repeated here.)
Tax Increase Prevention and Reconciliation Act of 2005 - Title I: Extension and Modification of Certain Provisions - (Sec. 101) Amends the Internal Revenue Code to extend through 2009: (1) the increased expensing allowance (from $25,000 to $100,000) for depreciable business property; (2) the increased threshold amount ($400,000) for determining reductions to the expensing allowance; (3) the period during which a taxpayer may revoke an election to expense depreciable business property; and (4) the eligibility of certain computer software for the increased expensing allowance.
(Sec. 102) Extends through 2010 reductions in capital gains and dividends tax rates enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Showing the opening paragraphs of the official summary.
(Sec. 103) Extends through 2008 exemptions from classification as subpart F income (income of controlled foreign corporations) for: (1) income that is derived in the active conduct of a banking, financing, or similar business or in the conduct of an insurance business; and (2) dividends, interest, rents, and royalties received by a controlled foreign corporation from a related controlled foreign corporation to the extent such items are attributable or properly allocable to non-subpart F income of the payor.
Title II: Other Provisions - (Sec. 201) Exempts from taxation certain settlement funds established to pay claims under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980. Terminates this exemption after 2010.
(Sec. 202) Allows all members of a corporation's affiliated group to be treated as one corporation for purposes of evaluating active business requirements for tax-free corporate reorganizations. Applies such provisions to corporate distributions in a reorganization on or before December 31, 2010.
(Sec. 203) Redefines "qualified veteran" for veterans in Alaska, Oregon, and Wisconsin for purposes of the tax exemption for veterans' mortgage bonds. Eliminates, for such veterans, the eligibility requirement of active service prior to 1977. Establishes volume limits for veterans' mortgage bonds for Alaska, Oregon, and Wisconsin, effective through 2010.
(Sec. 204) Allows taxpayers to elect to treat self-created musical compositions or copyrights in such compositions sold or exchanged before January 1, 2011, as the sale or exchange of a capital asset.
(Sec. 205) Revises the definition of qualifying vessels for purposes of the alternative tax on qualifying shipping activities to reduce the tonnage requirement for such vessels from 10,000 to 6,000 deadweight tons for 2006 through 2010.
(Sec. 206) Extends until August 31, 2009, special arbitrage rules enacted by the Deficit Reduction Act of 1984 governing certain securities or obligations held in a fund subject to state law restrictions continuously in effect since October 9, 1969.
(Sec. 207) Allows five-year amortization of expenses for creating or acquiring musical compositions or related copyrights.
(Sec. 208) Accelerates from September 30, 2009, to December 31, 2006, the effective date for increased issuance authority for qualified small issue bonds.
(Sec. 209) Modifies until December 31, 2010, provisions allowing certain continuing care facilities a tax exemption for interest imputed to below-market rate interest loans by: (1) decreasing from 65 to 62 the qualifying age for lenders to continuing care facilities; (2) eliminating the $90,000 limitation on loans to such facilities; (3) modifying continuing care contract requirements; and (4) revising the definition of continuing care facility to include an independent living unit, plus an assisted living or nursing facility, or both.
Title III: Alternative Minimum Tax Relief - (Sec. 301) Increases the alternative minimum tax exemption amount for individual taxpayers (to $42,500 for single taxpayers and $62,550 for married taxpayers) and extends such increased exemption amount through 2006.
(Sec. 302) Extends through 2006 special provisions allowing certain nonrefundable personal tax credits to the full extent of regular and alternative minimum tax liability.
Title IV: Corporate Estimated Tax Provisions - Increases estimated tax payments for corporations with assets of at least $1 billion for the third quarters of 2006, 2012 and 2013. Delays the payment date of certain corporate estimated taxes in September 2010 and 2011.
Title V: Revenue Offset Provisions - (Sec. 501) Authorizes the issuance of final Treasury regulations applying earning stripping rules to corporations which own a direct or indirect interest in a partnership.
(Sec. 502) Repeals the exemption from tax reporting requirements for interest on tax-exempt bonds.
(Sec. 503) Requires five-year amortization of geological and geophysical expenditures for major integrated oil companies. Defines "major integrated oil company" as a producer of crude oil that has an average daily worldwide production of at least 500,000 barrels, gross receipts in excess of $1 billion in 2005, and an ownership interest in a crude oil refinery of 15% or more.
(Sec. 504) Revises the definition of "regulated investment company" for purposes of restrictions on foreign investors in U.S. real property interests.
(Sec. 505) Imposes additional tax and withholding requirements on certain distributions by a qualified investment entity to foreign individuals or corporations.
(Sec. 506) Sets forth a special rule to prevent foreign investors from avoiding the payment of tax on the sale of U.S. property interests through wash sale transactions (i.e., structured sale and repurchase transactions occurring within a 60-day period).
(Sec. 507) Disallows tax exemptions for corporate reorganizations involving disqualified investment corporations. Defines a "disqualified investment corporation" as a distributing or controlled corporation if the fair market value of the investment assets of such corporation exceeds a certain percentage of the fair market value of all assets of the corporation.
(Sec. 508) Imposes certain loan and redemption requirements on tax-exempt pooled financing bonds. Requires: (1) issuers of pooled financing bonds to reasonably expect that at least 30% of the net proceeds of a bond issue will be lent to borrowers within one year of issuance; (2) a written loan commitment of at least 30% of the net proceeds of a bond issue; and (3) the redemption of outstanding bonds within a specified loan origination period.
(Sec. 509) Revises rules for offers-in-compromise of tax liability to require taxpayers to: (1) include a downpayment of 20% of the amount of any lump sum offer-in-compromise when submitting such offer; and (2) pay all scheduled installments due under a proposed offer-in-compromise while such offer is being evaluated by the Internal Revenue Service (IRS) for approval .
Requires the IRS to approve offers-in-compromise within two years of submission (otherwise, such an offer is deemed approved).
(Sec. 510) Provides that minor children under age 18 (currently, under age 14) shall be taxed on passive income at their parents' marginal income tax rate.
(Sec. 511) Requires federal, state, and local governments to withhold 3% of payments for goods and services made to such governments after December 31, 2010.
(Sec. 512) Repeals the adjusted gross income limitation for the conversion of an individual retirement account (IRA) to a Roth IRA. Allows taxpayers who convert to a Roth IRA in 2010 to spread conversion income over a two-year period for income tax purposes.
(Sec. 513) Amends the FSC Repeal and Extraterritorial Income Exclusion Act of 2000 to repeal the binding contract exemption from the repeal of foreign sales corporation rules.
Amends the American Jobs Creation Act of 2004 to repeal the binding contract exemption from the repeal of the tax exclusion for extraterritorial income.
(Sec. 514) Modifies the definition of "W-2 wages" for purposes of the tax deduction for domestic manufacturing income to allow only such wages that are properly allocable to domestic production gross receipts.
(Sec. 515) Accelerates from 2008 to 2006 the inflation adjustment to the exclusion amount for foreign earned income. Revises the formula for calculating the housing cost amount for purposes of the tax exclusion of foreign housing income.
(Sec. 516) Imposes an excise tax penalty on certain tax-exempt entities (and entity managers) for participation in prohibited tax shelter activities.
People & committees
Rep. Thomas, William M. [R-CA-22] · R–CA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Became Public Law No: 109-222.
Became Public Law No: 109-222.
Signed by President.
Signed by President.
Presented to President.
Presented to President.
Cleared for White House.
Message on Senate action sent to the House.
Senate agreed to conference report by Yea-Nay Vote. 54 - 44. Record Vote Number: 118.
Senate roll call 118 · Individual votesConference report agreed to in Senate: Senate agreed to conference report by Yea-Nay Vote. 54 - 44. Record Vote Number: 118.
Senate roll call 118 · Individual votesConference report considered in Senate. (consideration: CR S4385-4447)
Conference papers: held at the desk in Senate.
On agreeing to the conference report Agreed to by recorded vote: 244 - 185 (Roll no. 135).
House roll call 135 · Individual votesMotions to reconsider laid on the table Agreed to without objection.
Conference report agreed to in House: On agreeing to the conference report Agreed to by recorded vote: 244 - 185 (Roll no. 135).
House roll call 135 · Individual votesOn motion to recommit with instructions to conference committee Failed by the Yeas and Nays: 190 - 239 (Roll no. 134).
House roll call 134 · Individual votesThe previous question on the motion was ordered without objection. (consideration: CR H2465)
Instructions contained in the motion seek to require the managers on the part of the House to report back on or before May 17, 2006, a new conference report which (1) includes the maximum amount of relief for individuals from the alternative minimum tax permitted within the scope of conference; (2) does not include any extension of the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2006; and (3) to the maximum extent possible within the scope of conference, will neither increase the Federal budget deficit nor increase the amount of the debt subject to the public debt limit.
Mr. Rangel moved to recommit with instructions to the conference committee. (consideration: CR H2464-2465; text: CR H2465)
The previous question was ordered without objection. (consideration: CR H2464)
DEBATE - The House proceeded with 60 minutes of debate on the conference report to accompany H.R. 4297.
Mr. Thomas brought up conference report H. Rept. 109-455 for consideration under the provisions of H. Res. 805. (consideration: CR H2453-2466)
Rule H. Res. 805 passed House.
Rules Committee Resolution H. Res. 805 Reported to House. Rule provides for consideration of the conference report to H.R. 4297 with 1 hour of general debate.
Conference report H. Rept. 109-455 filed. (text of conference report: CR H2209-2299)
Conference report filed: Conference report H. Rept. 109-455 filed.(text of conference report: CR H2209-2299)
On motion that the House instruct conferees Failed by the Yeas and Nays: 197 - 224 (Roll no. 121).
House roll call 121 · Individual votesConsidered as unfinished business. (consideration: CR H2076-2077)
POSTPONED PROCEEDINGS - At the conclusion of debate on the Larson (CT) motion to instruct conferees, the Chair put the question on adoption of the motion and by voice vote announced that the noes had prevailed. Mr. Larson (CT) demanded the yeas and nays and the Chair postponed further proceedings until later in the legislative day.
The previous question was ordered without objection. (consideration: CR H2071)
DEBATE - The House proceeded with one hour of debate on the Larson (CT) motion to instruct conferees. Instructions seek to direct the managers on the part of the House to agree to the following provisions of the Senate: section 461 (relating to revaluation of LIFO inventories of larget integrated oil companies), section 462 (relating to elimination of amortization of geological and geophysical expenditures for major integrated oil companies), and section 470 (relating to modifications of foreign tax credit rules applicable to large integrated oil companies which are dual capacity taxpayers), and to recede from the provisions of the House bill that extend the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2008.
Mr. Larson (CT) moved that the House instruct conferees. (consideration: CR H2066-2071; text: CR H2066)
On motion that the House instruct conferees Failed by the Yeas and Nays: 190 - 232 (Roll no. 109). (consideration: CR H1886-1887)
House roll call 109 · Individual votesPOSTPONED PROCEEDINGS - At the conclusion of debate on the McDermott motion to instruct conferees, the Chair put the question on adoption of the motion and by voice vote announced that the noes had prevailed. Mr. McDermott demanded the yeas and nays and the Chair postponed further proceedings until Thursday, April 27, 2006.
The previous question was ordered without objection. (consideration: CR H1819)
DEBATE - The House proceeded with one hour of debate on the McDermott motion to instruct conferees. The instructions contained in the motion seek to require the managers on the part of the House to agree to the following provisions of the Senate amendment: sec. 461; sec. 462; sec. 470; and to recede from the provisions of the House bill that extend the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2008.
Mr. McDermott moved that the House instruct conferees. (consideration: CR H1813-1819; text: CR H1813)
NOTICE OF INTENT TO OFFER MOTION TO INSTRUCT - Mr. McDermott notified the House of his intention to offer a motion to instruct conferees on H.R. 4297.
Motion to reconsider laid on the table Agreed to without objection.
On motion that the House instruct conferees Failed by the Yeas and Nays: 196 - 232 (Roll no. 94). (consideration: CR H1621-1622)
House roll call 94 · Individual votesPOSTPONED PROCEEDINGS - At the conclusion of debate the Chair put the question on adoption of the motion to instruct and by voice vote announced that the noes had prevailed. Mr. Cardin demanded the yeas and nays and the Chair postponed further proceedings on adoption of the motion until later in the legislative day.
The previous question was ordered without objection. (consideration: CR H1615)
DEBATE - The House proceeded with one hour of debate on the Cardin Motion to Instruct Conferees. Instructions contained within the motion seek to instruct the managers on the part of the House at the conference on the disagreeing votes of the two Houses on the Senate amendment (1) agree to the provisions of section 102 (relating to credit for elective deferrals and ira contributions), and section 108 (relating to extension and modification of research credit), of the Senate amendment (2) agree to the provisions of section 106 of the Senate amendment (relating to extension and increase in the minimum tax relief to individuals) (3) recede from the provisions of the House bill that extend the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2008 and (4) to the maximum extent possible within the scope of conference, insist on a conference report which will neither increase
Mr. Cardin moved that the House instruct conferees. (CR H1609-1615)
NOTICE OF INTENT TO OFFER MOTION TO INSTRUCT - Mr. Cardin notified the House of his intent to offer a motion to instruct conferees on H.R. 4297.
NOTIFICATION OF INTENT TO OFFER MOTION TO INSTRUCT - Mr. Cardin notified the House of his intention to offer a motion to instruct conferees on H.R. 4297.
Motion to reconsider laid on the table Agreed to without objection.
On motion that the House instruct conferees Failed by the Yeas and Nays: 192 - 229 (Roll no. 74).
House roll call 74 · Individual votesPOSTPONED PROCEEDINGS - At the conclusion of debate on the Rangel motion to instruct conferees, the Chair put the question on adoption of the motion and by voice vote announced that the noes had prevailed. Mr. Becerra demanded the yeas and nays and the Chair postponed further proceedings until later in the legislative day.
The previous question was ordered without objection. (consideration: CR H1289)
DEBATE - The House proceeded with one hour of debate on the Rangel motion to instruct conferees. The instructions contained within the motion seek to (1) insist on the provisions of section 106 of the Senate amendment (relating to extension and increase in minimum tax relief to individuals) (2) recede from the provisions of the House bill that extend the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2008 and (3) insist on a confrerence report, to the maximum extent possible within the scope of conference, which will neither increase the Federal budget deficit nor increase the amount of the debt subject to the public debt limit.
Mr. Rangel moved that the House instruct conferees. (consideration: CR H1283-1289, H1291-1292; text: CR H1283-1284)
Motion to reconsider laid on the table Agreed to without objection.
On motion that the House instruct conferees Agreed to by the Yeas and Nays: 222 - 187 (Roll no. 67). (consideration: CR H1119)
House roll call 67 · Individual votesPOSTPONED PROCEEDINGS - At the conclusion of debate on the Tanner motion to instruct conferees, the Chair put the question on adoption of the motion and by voice vote, announced that the noes had prevailed. Mr. Tanner demanded the yeas and nays and the Chair postponed further proceedings until Thursday, March 16, 2006.
The previous question was ordered without objection. (consideration: CR H1055)
DEBATE - The House proceeded with one hour of debate on the Tanner motion to instruct conferees. The instructions contained in the motion seek to require the managers on the part of the House, to the maximum extent possible within the scope of the conference, to insist on a conference report which will neither increase the Federal budget deficit nor increase the amount of the debt subject to the public debt limit.
Mr. Tanner moved that the House instruct conferees. (consideration: CR H1051-1055)
Conference held.
Conference committee actions: Conference held.
Message on Senate action sent to the House.
Senate appointed conferees. Grassley; Kyl; Baucus.
Motion by Senator Obama to instruct Senate conferees withdrawn in Senate. (consideration: CR S1136, S1138)
Motion by Senator Grassley to instruct Senate conferees to report a reconciliation conference report ensuring that in 2009 and 2010, the international competitiveness of the United States in attracting capital investment, and therefore job creation, is not weakened further by a higher combined corporate and individual income tax rate on corporate and capital income as a result of a higher dividend tax rate withdrawn in Senate. (consideration: CR S1136, S1138)
Motion by Senator Stabenow to instruct Senate conferees withdrawn in Senate. (consideration: CR S1136, S1138)
Motion by Senator Hatch to instruct Senate conferees withdrawn in Senate. (consideration: CR S1136, S1138)
Motion by Senator Schumer to instruct Senate conferees withdrawn in Senate. (consideration: CR S1136, S1138)
Motion by Senator Santorum to instruct Senate conferees withdrawn in Senate. (consideration: CR S1136, S1138)
Motion by Senator Menendez to instruct Senate conferees withdrawn in Senate. (consideration: CR S1136, S1138)
Motion by Senator Lott to instruct Senate conferees withdrawn in Senate. (consideration: CR S1136, S1138)
Motion by Senator Lautenberg to instruct Senate conferees rejected in Senate by Yea-Nay Vote. 46 - 54. Record Vote Number: 20. (consideration: CR S1136, S1139)
Senate roll call 20 · Individual votesMotion by Senator Hutchison to instruct Senate conferees agreed to in Senate by Yea-Nay Vote. 75 - 25. Record Vote Number: 19. (consideration: CR S1136, S1138-1139)
Senate roll call 19 · Individual votesMotion by Senator Reed to instruct Senate conferees rejected in Senate by Yea-Nay Vote. 45 - 55. Record Vote Number: 18. (consideration: CR S1135-1136, S1138)
Senate roll call 18 · Individual votesMotion by Senator Talent to instruct Senate conferees agreed to in Senate by Voice Vote. (consideration: CR S1136, S1138)
Motion by Senator Wyden to instruct Senate conferees agreed to in Senate by Voice Vote. (consideration: CR S1136, S1138)
Motion by Senator DeWine to instruct Senate conferees agreed to in Senate by Voice Vote. (consideration: CR S1136, S1138)
Motion by Senator Kennedy to instruct Senate conferees rejected in Senate by Yea-Nay Vote. 47 - 53. Record Vote Number: 17. (consideration: CR S1135, S1138)
Senate roll call 17 · Individual votesMotion by Senator Grassley to instruct Senate conferees to report a final conference report that includes the "hold-harmless" relief from the individual alternative minimum tax in 2006 (sections 106 and 107 of the amendment passed by the Senate) to protect middle class families and includes an extension of lower tax rates on capital gains and dividends (based on section 203 of the bill passed by the House of Representatives) to protect tax cuts for middle class families agreed to in Senate by Yea-Nay Vote. 53 - 47. Record Vote Number: 16. (consideration: CR S1136, S1138)
Senate roll call 16 · Individual votesMotion by Senator Dodd to instruct Senate conferees rejected in Senate by Yea-Nay Vote. 40 - 53. Record Vote Number: 15. (consideration: CR S1121)
Senate roll call 15 · Individual votesMotion by Senator Grassley to instruct Senate conferees to insist on the inclusion in the final conference report of the funding to support the health needs of America's veterans and military personnel contained in section 315 of the Senate amendment and the funding to str agreed to in Senate by Yea-Nay Vote. 92 - 0. Record Vote Number: 14. (consideration: CR S1121)
Senate roll call 14 · Individual votesMotion by Senator Schumer to instruct Senate conferees to report a conference report that includes the Senate-passed provision to extend the above-the-line deduction for tuition and fees through December 31, 2009 (section 103), before it includes the House-passed extension of lower tax rates on capital gains and dividends (section 203) given budget constraints, noting that a conference report which maintains the tuition deduction will provide needed tax relief to more than 4,000,000 American families each year that are struggling to keep pace with rising tuition costs made in Senate. (consideration: CR S1119-1120)
Motion by Senator Lautenberg to instruct Senate conferees to report a final conference report that does not increase the national debt of the United States made in Senate. (consideration: CR S1118-1119)
Motion by Senator Talent to instruct Senate conferees to insist on the inclusion in the final conference report of a permanent extension of the modifications to the child tax credit made by the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003 made in Senate. (consideration: CR S1118)
Motion by Senator Grassley to instruct Senate conferees to report a reconciliation conference report ensuring that in 2009 and 2010, the international competitiveness of the United States in attracting capital investment, and therefore job creation, is not weakened further by a higher combined corporate and individual income tax rate on corporate and capital income as a result of a higher dividend tax rate made in Senate. (consideration: CR S1118)
Motion by Senator Santorum to instruct Senate conferees to report a final conference report that includes a permanent extension of the above-the-line deduction for tuition and fees (based on section 103 of the amendment passed by the Senate) made in Senate. (consideration: CR S1117-1118)
Motion by Senator Hutchison to instruct Senate conferees to insist on the inclusion in the final conference report of a permanent extension of the election to deduct State and local general sales taxes (based on section 105 of the amendment passed by the Senate) made in Senate. (consideration: CR S1117)
Motion by Senator Lott to instruct Senate conferees to report a final conference report that includes the repeal of the individual alternative minimum tax (based on sections 106 and 107 of the amendment passed by the Senate) made in Senate. (consideration: CR S1117)
Motion by Senator Grassley to instruct Senate conferees to report a final conference report that includes the "hold-harmless" relief from the individual alternative minimum tax in 2006 (sections 106 and 107 of the amendment passed by the Senate) to protect middle class families and includes an extension of lower tax rates on capital gains and dividends (based on section 203 of the bill passed by the House of Representatives) to protect tax cuts for middle class families made in Senate. (consideration: CR S1117)
Motion by Senator Grassley to instruct Senate conferees to insist on the inclusion in the final conference report of the funding to support the health needs of America's veterans and military personnel contained in section 315 of the Senate amendment and the funding to strengthen America's military contained in title VI of the Senate amendment made in Senate. (consideration: CR S1116-1117, S1121)
Motion by Senator Stabenow to instruct Senate conferees to insist on the inclusion in the final conference report of a permanent extension of the credit for increasing research activities and to reject any extension of the tax rate for capital gains and dividends which does not expire until 2009 made in Senate. (consideration: CR S1115-1116)
Motion by Senator Menendez to instruct Senate conferees to report a conference report that includes the Senate-passed "hold-harmless" relief from the individual alternative minimum tax (AMT) in 2006, and does not include the extension of lower tax rates on capital gains and dividends made in Senate. (consideration: CR S1113-1115)
Motion by Senator DeWine to instruct Senate conferees to accept the veterans' mortgage bonds expansion provisions contained in section 303 of the bill as passed by the House of Representatives with such revisions as are necessary to provide veterans in all 50 States with access to lower-rate mortgages made in Senate. (consideration: CR S1113)
Motion by Senator Hatch to instruct Senate conferees to insist on the inclusion in the final conference report of a permanent extension of the credit for increasing research activities (based on section 108 of the amendment passed by the Senate) made in Senate. (consideration: CR S1110-1113)
Motion by Senator Obama to instruct Senate conferees to insist that any final conference report shall provide tax relief for the most vulnerable members of our society, including the low-income victims of Hurricane Katrina and children in families that are too poor to benefit fully from the refundable child tax credit made in Senate. (consideration: CR S1107-1110)
Motion by Senator Wyden to instruct Senate conferees to insist on a provision that repeals accelerated depreciation for geologic and geophysical costs for oil and gas exploration by the 5 major oil companies made in Senate. (consideration: CR S1105-1107)
Motion by Senator Reed to instruct Senate conferees to insist on the inclusion in the final conference report of the funding to strengthen America's military contained in title VI of the Senate amendment instead of any extension of the tax cuts for capital gains and dividends, which does not expire until 2009, contained in section 203 of the bill as passed by the House of Representatives made in Senate. (consideration: CR S1094-1105)
Motion by Senator Dodd to instruct Senate conferees to insist on the inclusion in the final conference report of the funding to support the health needs of America's veterans and military personnel contained in section 315 of the Senate amendment instead of any extension of the tax breaks for capital gains and dividends for individuals with annual incomes greater than $1,000,000. made in Senate. (consideration: CR S1090-1094, S1121)
Motion by Senator Kennedy to instruct Senate conferees to reject the extension of the capital gains and dividends rate reduction contained in section 203 of the bill as passed by the House of Representatives made in Senate. (consideration: CR S1083-1090)
Senate insists on its amendment and agrees to hold a conference. (consideration: CR S1079-1121)
Message on House action received in Senate and at desk: House requests a conference.
The Speaker appointed conferees: Thomas, McCrery, Camp (MI), Rangel, and Stark.
Motion to reconsider laid on the table Agreed to without objection.
On motion that the House instruct conferees Failed by the Yeas and Nays: 185 - 207 (Roll no. 7).
House roll call 7 · Individual votesPOSTPONED PROCEEDINGS - At the conclusion of debate, the Chair put the question on adoption of the motion to instruct conferees and by voice vote, announced that the noes had prevailed. Mr. Neal demanded the yeas and nays and the Chair postponed further proceedings on the question of adoption of the motion until later in the legislative day.
The previous question was ordered without objection. (consideration: CR H192)
DEBATE - The House proceeded with one hour of debate on the Neal motion to instruct conferees. The instructions contained in the motion seek to require the managers on the part of the House to 1) agree to the provisions of section 106 of the Senate amendment (relating to extension and increase in minimum tax relief to individuals); 2) recede from the provisions of the House bill that extend the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2008; and, 3) insist, to the maximum extent possible within the scope of the conference, on a conference report that would not increase the Federal deficit for any year.
Mr. Neal (MA) moved that the House instruct conferees. (consideration: CR H185; text: CR H185)
On motion that the House disagree to the Senate amendment, and request a conference Agreed to without objection.
Mr. Thomas asked unanimous consent that the House disagree to the Senate amendment, and request a conference. (consideration: CR H185-192, H195-196)
Message on Senate action sent to the House.
Passed Senate with an amendment by Yea-Nay. 66 - 31. Record Vote Number: 10.
Senate roll call 10 · Individual votesPassed/agreed to in Senate: Passed Senate with an amendment by Yea-Nay. 66 - 31. Record Vote Number: 10.
Senate roll call 10 · Individual votesMotion by Senator Frist to commit to Senate Committee on Finance withdrawn in Senate by Unanimous Consent.
Motion by Senator Frist to commit to Senate Committee on Finance with instructions to report back forthwith with an amendment made in Senate.
Considered by Senate. (consideration: CR S466-502)
Measure laid before Senate by unanimous consent. (consideration: CR S387-436)
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 325.
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by the Yeas and Nays: 234 - 197 (Roll no. 621). (text: CR H11234-11237)
House roll call 621 · Individual votesPassed/agreed to in House: On passage Passed by the Yeas and Nays: 234 - 197 (Roll no. 621).(text: CR H11234-11237)
House roll call 621 · Individual votesOn motion to recommit with instructions Failed by the Yeas and Nays: 193 - 235 (Roll no. 620).
House roll call 620 · Individual votesThe previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H11261)
Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Rangel motion to recommit with instructions.
Mr. Rangel moved to recommit with instructions to Ways and Means. (consideration: CR H11262; text: CR H11262)
DEBATE - Pursuant to the provisions of H. Res. 588, the House proceeded with one hour of debate on the Rangel amendment in the nature of a substitute.
DEBATE - The House proceeded with one hour of debate on H.R. 4297.
Rule provides for consideration of H.R. 4297 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
Considered under the provisions of rule H. Res. 588. (consideration: CR H11234-11164)
Rule H. Res. 588 passed House.
Rules Committee Resolution H. Res. 588 Reported to House. Rule provides for consideration of H.R. 4297 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
Placed on the Union Calendar, Calendar No. 166.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 109-304.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 109-304.
Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 15.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
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Analyze H.R.4297 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.4297 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
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