Text of Senate Amendment 402

Text of Senate Amendment 402

Congressional Record, Volume 171 Issue 34 (Thursday, February 20, 2025) [Congressional Record Volume 171, Number 34 (Thursday, February 20, 2025)] [Senate] [Page S1188] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 402. Mr. KAINE (for himself and Mr. King) submitted an amendment intended to be proposed by him to the concurrent resolution S. Con. Res. 7, 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; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. ___. REPORTING ON FEDERAL REVENUE. (a) In General.--The Director of the Congressional Budget Office shall include in each report submitted under section 202(e)(1) of the Congressional Budget Act of 1974 (2 U.S.C. 602(e)(1)) the following: (1) An estimate of the total changes in revenue resulting from major legislation enacted or significant executive actions taken in the fiscal year preceding submission of the report. (2) An estimate of the distributional effects across income groups in the United States of the estimate described in paragraph (1). (b) Significant Executive Action Defined.--In this section, the term ``significant executive action'' means any action taken by the President that results in $10,000,000,000 or more in new revenue for the United States on an annualized basis, including changes to duties on goods imported into the United States. ______