A bill to repeal the reduction in the tax rate for the top tax bracket and to express the sense of the Senate that revenue savings from the repeal should be used to improve benefits under the Montgomery GI Bill by $6,000,000,000 over 10 years, to fund Federal Pell grants at the full amounts authorized for fiscal year 2004, and to double the fiscal year 2004 funding for Perkins loans, Federal work-study programs, and Federal supplemental educational opportunity grants (SEOG).

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · May 13, 2004

Amends the Internal Revenue Code to repeal the reduction in the top tax rate for individual taxpayers for taxable years beginning in 2003 and thereafter (increasing the rate from 35 to 39.6 percent).

Expresses the sense of the Senate that any increase in Federal revenue resulting from the repeal of tax rate reductions by this Act should be used to improve benefits under the Montgomery GI Bill by $6 billion over ten years, to fund Federal Pell grants at the full amount authorized for FY 2004, and to double to FY 2004 funding for Perkins loans, Federal work-study programs, and Federal supplemental educational opportunity grants (SEOG).

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People & committees

Who introduced it

Sen. Dayton, Mark [D-MN] · D–MN

Committees

Finance Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

May 13, 2004
Read twice and referred to the Committee on Finance.
May 13, 2004
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · May 13, 2004 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.

AI Conversation Starters

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Neutral evidence review

Objective

Analyze S.2423 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.

View full prompt & sources

Discuss S.2423, 108th Congress: A bill to repeal the reduction in the tax rate for the top tax bracket and to express the sense of the Senate that revenue savings from the repeal should be used to improve benefits under the Montgomery GI Bill by $6,000,000,000 over 10 years, to fund Federal Pell grants at the full amounts authorized for fiscal year 2004, and to double the fiscal year 2004 funding for Perkins loans, Federal work-study programs, and Federal supplemental educational opportunity grants (SEOG).

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/2423

Text version to examine: Introduced in Senate · 2004-05-13.

Official full text: https://www.congress.gov/108/bills/s2423/BILLS-108s2423is.htm

Imported record last updated by the source: 2025-01-14T19:05:25Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.2423 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.

Fairness and public impact

Progressive lens

Examine S.2423 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.

View full prompt & sources

Discuss S.2423, 108th Congress: A bill to repeal the reduction in the tax rate for the top tax bracket and to express the sense of the Senate that revenue savings from the repeal should be used to improve benefits under the Montgomery GI Bill by $6,000,000,000 over 10 years, to fund Federal Pell grants at the full amounts authorized for fiscal year 2004, and to double the fiscal year 2004 funding for Perkins loans, Federal work-study programs, and Federal supplemental educational opportunity grants (SEOG).

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/2423

Text version to examine: Introduced in Senate · 2004-05-13.

Official full text: https://www.congress.gov/108/bills/s2423/BILLS-108s2423is.htm

Imported record last updated by the source: 2025-01-14T19:05:25Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.2423 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.

Institutions and government scope

Conservative lens

Examine S.2423 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.2423, 108th Congress: A bill to repeal the reduction in the tax rate for the top tax bracket and to express the sense of the Senate that revenue savings from the repeal should be used to improve benefits under the Montgomery GI Bill by $6,000,000,000 over 10 years, to fund Federal Pell grants at the full amounts authorized for fiscal year 2004, and to double the fiscal year 2004 funding for Perkins loans, Federal work-study programs, and Federal supplemental educational opportunity grants (SEOG).

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/2423

Text version to examine: Introduced in Senate · 2004-05-13.

Official full text: https://www.congress.gov/108/bills/s2423/BILLS-108s2423is.htm

Imported record last updated by the source: 2025-01-14T19:05:25Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.2423 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.2423 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.2423, 108th Congress: A bill to repeal the reduction in the tax rate for the top tax bracket and to express the sense of the Senate that revenue savings from the repeal should be used to improve benefits under the Montgomery GI Bill by $6,000,000,000 over 10 years, to fund Federal Pell grants at the full amounts authorized for fiscal year 2004, and to double the fiscal year 2004 funding for Perkins loans, Federal work-study programs, and Federal supplemental educational opportunity grants (SEOG).

Official record: https://www.congress.gov/bill/108th-congress/senate-bill/2423

Text version to examine: Introduced in Senate · 2004-05-13.

Official full text: https://www.congress.gov/108/bills/s2423/BILLS-108s2423is.htm

Imported record last updated by the source: 2025-01-14T19:05:25Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.2423 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.