Text of Senate Amendment 205

Text of Senate Amendment 205

Congressional Record, Volume 171 Issue 34 (Thursday, February 20, 2025) [Congressional Record Volume 171, Number 34 (Thursday, February 20, 2025)] [Senate] [Page S1160] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 205. Ms. BALDWIN submitted an amendment intended to be proposed by her 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. 4___. REQUIREMENT FOR JOINT COMMITTEE ON TAXATION ESTIMATES. (a) Definition.--In this section, the term ``major legislation'' means, in the Senate, a bill, joint resolution, conference report, amendment, amendment between the Houses, or treaty-- (1) for which an estimate is required to be prepared pursuant to section 402 of the Congressional Budget Act of 1974 (2 U.S.C. 653) and that causes a gross budgetary effect (before incorporating macroeconomic effects and not including timing shifts) in a fiscal year in the period of years of the most recently agreed to concurrent resolution on the budget equal to or greater than-- (A) 0.25 percent of the current projected gross domestic product of the United States for that fiscal year; or (B) for a treaty, equal to or greater than $15,000,000,000 for that fiscal year; or (2) designated as such by-- (A) the Chairman of the Committee on the Budget of the Senate for all direct spending and revenue legislation; or (B) the Senator who is Chairman or Vice Chairman of the Joint Committee on Taxation for revenue legislation. (b) Estimates.--An estimate provided by the Joint Committee on Taxation to the Director of the Congressional Budget Office under section 201(f) of the Congressional Budget Act of 1974 (2 U.S.C. 601(f)) for any major legislation shall provide an estimate of the distributional effects across income categories resulting from major legislation. ______