[Congressional Record Volume 159, Number 124 (Thursday, September 19, 2013)]
[House]
[Pages H5768-H5770]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               AMENDMENTS

  Under clause 8 of rule XVIII, proposed amendments were submitted as 
follows:

                              H.J. Res. 59

                       Offered By: Mr. Van Hollen

       Amendment No. 1 After the enacting clause, insert the 
     following new center heading ``Division A''.
       Page 3, strike lines 3 through 18.
       Page 5, line 15, strike ``December'' and insert 
     ``November''.
       Page 13, line 24, strike ``in sections 403(b) and 413(h)'' 
     and insert ``in section 403(b)''.
       Page 15, strike line 1 and all that follows through page 
     16, line 5, and insert the following:
       Sec. 133. (a) The second paragraph under the heading 
     ``Department of Health and Human Services--Office of the 
     Secretary--Public Health and Social Services Emergency Fund'' 
     in Public Law 112-74 shall be applied as though the funding 
     for activities described in that paragraph had been 
     appropriated from the general fund of the Treasury with a 
     two-year period of availability.
       (b) In addition to the amounts made available under section 
     101 for ``Department of Health and Human Services--Office of 
     the Secretary--Public Health and Social Services Emergency 
     Fund'', amounts are provided, at the following rates for 
     operations, for the following activities:
       (1) $250,000,000, for necessary expenses for procuring 
     security countermeasures (as defined in section 319F-
     2(c)(1)(B) of the Public Health Service Act), to remain 
     available until expended.
       (2) $140,009,000, for expenses necessary to prepare for and 
     respond to an influenza pandemic and other emerging 
     infectious diseases, of which $108,000,000 shall be 
     available, until expended, for activities including the 
     development and purchase of vaccine, antivirals, necessary 
     medical supplies, diagnostics, and other surveillance tools.
       (c)(1) The amounts made available under this section for 
     the purpose of acquisition of security countermeasures shall 
     be in addition to any other funds available for such purpose.
       (2) Products purchased with funds provided under this 
     heading may, at the discretion of the Secretary, be deposited 
     in the Strategic National Stockpile pursuant to section 319F-
     2 of the Public Health Service Act.
       Page 16, after line 20, insert the following:
       Sec. 137. (a) The rate for operations provided by this 
     joint resolution--
       (1) for each discretionary appropriation in the security 
     category is increased by the percentage necessary such that 
     total funding during fiscal year 2014 for the security 
     category (excluding amounts designated by the Congress for 
     Overseas Contingency Operations/Global War on Terrorism 
     pursuant to section 251(b)(2)(A) of the Balanced Budget and 
     Emergency Deficit Control Act of 1985) equals 
     $552,000,000,000; and
       (2) for each discretionary appropriation in the non-
     security category is increased by the percentage necessary 
     such that total funding during fiscal year 2014 for the non-
     security category (excluding amounts designated by the 
     Congress for Overseas Contingency Operations/Global War on 
     Terrorism pursuant to section 251(b)(2)(A) of the Balanced 
     Budget and Emergency Deficit Control Act of 1985, as being 
     for disaster relief pursuant to section 251(b)(2)(D) of such 
     Act, or for purposes of section 251(b)(2)(B) of such Act) 
     equals $506,000,000,000.
       (b) The increases provided under subsection (a ) shall not 
     apply to any amount designated by the Congress for Overseas 
     Contingency Operations/Global War on Terrorism pursuant to 
     section 251(b)(2)(A) of the Balanced Budget and Emergency 
     Deficit Control Act of 1985, as being for disaster relief 
     pursuant to section 251(b)(2)(D) of such Act, or for purposes 
     of section 251(b)(2)(B) of such Act.
       Insert at the end the following new division:

                               DIVISION B

     SECTION 1. SHORT TITLE.

       This division may be cited as the ``Stop the Sequester Job 
     Loss for 2014 Act''.

     SEC. 2. TABLE OF CONTENTS.

Sec. 1. Short title.
Sec. 2. Table of contents.

                   TITLE I--BUDGET PROCESS AMENDMENTS

Sec. 101. Repeal the 2014 sequester.
Sec. 102. Reduction of Defense Discretionary Limits.
Sec. 103. Protecting veterans programs from sequester.

                     TITLE II--AGRICULTURAL SAVINGS

Sec. 201. One-year extension of agricultural commodity programs, except 
              direct payment programs.

                    TITLE III--OIL AND GAS SUBSIDIES

Sec. 301. Prohibition on using last-in, first-out accounting for major 
              integrated oil companies.
Sec. 302. Deduction for income attributable to domestic production 
              activities not allowed with respect to oil and gas 
              activities of major integrated oil companies.
Sec. 303. Limitation on deduction for intangible drilling and 
              development costs of major integrated oil companies.

                       TITLE IV--THE BUFFETT RULE

Sec. 401. Fair share tax on high-income taxpayers.

                      TITLE V--SENSE OF THE HOUSE

Sec. 501. Sense of the House on the need for a fair, balanced and 
              bipartisan approach to long-term deficit reduction.

                   TITLE I--BUDGET PROCESS AMENDMENTS

     SEC. 101. REPEAL THE 2014 SEQUESTER.

       (a) Calculation of Total Deficit Reduction and Allocation 
     to Functions.--(1) Section 251A(3) of the Balanced Budget and 
     Emergency Deficit Control Act of 1985 (2 U.S.C. 901a) is 
     amended by striking ``2013'' and inserting ``2015''.
       (2) Paragraph (4) of such section is amended by striking 
     ``2014''and inserting ``2015''.
       (b) Defense and Nondefense Function Reductions.--Paragraphs 
     (5) and (6) of section 251A of the Balanced Budget and 
     Emergency Deficit Control Act of 1985 are amended by striking 
     ``2013'' and inserting ``2015'' each place it appears.
       (c) Implementing Discretionary Reductions.--Section 
     251A(7)(B) of such Act is amended by striking ``2014'' and 
     inserting ``2015'' each place it appears.

[[Page H5769]]

       (d) Conforming Change.--Upon the date of enactment of this 
     Act, the report entitled ``OMB Sequestration Preview Report 
     to the President and Congress for Fiscal Year 2014 and OMB 
     Report to the Congress on the Joint Committee Reductions for 
     Fiscal Year 2014'', issued on April 10, 2013, and corrected 
     on May 20, 2013, shall have no force or effect.

     SEC. 102. REDUCTION OF DEFENSE DISCRETIONARY LIMITS.

       The discretionary limits set forth in section 251(c) of the 
     Balanced Budget and Emergency Deficit Control Act of 1985 for 
     the security category for fiscal years 2017 through 2021 are 
     replaced with the following limits: for fiscal year 2017, 
     $586,000,000,000; for fiscal year 2018, $595,000,000,000; for 
     fiscal year 2019, $604,000,000,000; for fiscal year 2020, 
     $614,000,000,000; and for fiscal year 2021, $624,000,000,000.

     SEC. 103. PROTECTING VETERANS PROGRAMS FROM SEQUESTER.

       Section 256(e)(2)(E) of the Balanced Budget and Emergency 
     Deficit Control Act of 1985 is repealed.

                     TITLE II--AGRICULTURAL SAVINGS

     SEC. 201. ONE-YEAR EXTENSION OF AGRICULTURAL COMMODITY 
                   PROGRAMS, EXCEPT DIRECT PAYMENT PROGRAMS.

       (a) Extension.--Except as provided in subsection (b) and 
     notwithstanding any other provision of law, the authorities 
     provided by each provision of title I of the Food, 
     Conservation, and Energy Act of 2008 (Public Law 110-246; 122 
     Stat. 1651) and each amendment made by that title (and for 
     mandatory programs at such funding levels), as in effect on 
     September 30, 2013, shall continue, and the Secretary of 
     Agriculture shall carry out the authorities, until September 
     30, 2014.
       (b) Termination of Direct Payment Programs.--
       (1) Covered commodities.--The extension provided by 
     subsection (a) shall not apply with respect to the direct 
     payment program under section 1103 of the Food, Conservation, 
     and Energy Act of 2008 (7 U.S.C. 8713).
       (2) Peanuts.--The extension provided by subsection (a) 
     shall not apply with respect to the direct payment program 
     under section 1303 of the Food, Conservation, and Energy Act 
     of 2008 (7 U.S.C. 7953).
       (c) Effective Date.--This section shall take effect on the 
     earlier of--
       (1) the date of the enactment of this Act; and
       (2) September 30, 2013.

                    TITLE III--OIL AND GAS SUBSIDIES

     SEC. 301. PROHIBITION ON USING LAST-IN, FIRST-OUT ACCOUNTING 
                   FOR MAJOR INTEGRATED OIL COMPANIES.

       (a) In General.--Section 472 of the Internal Revenue Code 
     of 1986 is amended by adding at the end the following new 
     subsection:
       ``(h) Major Integrated Oil Companies.--Notwithstanding any 
     other provision of this section, a major integrated oil 
     company (as defined in section 167(h)(5)(B)) may not use the 
     method provided in subsection (b) in inventorying of any 
     goods.''.
       (b) Effective Date and Special Rule.--
       (1) In general.--The amendment made by subsection (a) shall 
     apply to taxable years beginning after the date of the 
     enactment of this Act.
       (2) Change in method of accounting.--In the case of any 
     taxpayer required by the amendment made by this section to 
     change its method of accounting for its first taxable year 
     beginning after the date of the enactment of this Act--
       (A) such change shall be treated as initiated by the 
     taxpayer,
       (B) such change shall be treated as made with the consent 
     of the Secretary of the Treasury, and
       (C) the net amount of the adjustments required to be taken 
     into account by the taxpayer under section 481 of the 
     Internal Revenue Code of 1986 shall be taken into account 
     ratably over a period (not greater than 8 taxable years) 
     beginning with such first taxable year.

     SEC. 302. DEDUCTION FOR INCOME ATTRIBUTABLE TO DOMESTIC 
                   PRODUCTION ACTIVITIES NOT ALLOWED WITH RESPECT 
                   TO OIL AND GAS ACTIVITIES OF MAJOR INTEGRATED 
                   OIL COMPANIES.

       (a) In General.--Subparagraph (A) of section 199(d)(9) of 
     the Internal Revenue Code of 1986 is amended by inserting 
     ``(9 percent in the case of any major integrated oil company 
     (as defined in section 167(h)(5)(B)))'' after ``3 percent''.
       (b) Effective Date.--The amendment made by subsection (a) 
     shall apply to taxable years beginning after the date of the 
     enactment of this Act.

     SEC. 303. LIMITATION ON DEDUCTION FOR INTANGIBLE DRILLING AND 
                   DEVELOPMENT COSTS OF MAJOR INTEGRATED OIL 
                   COMPANIES.

       (a) In General.--Section 263(c) of the Internal Revenue 
     Code of 1986 is amended by adding at the end the following 
     new sentence: ``This subsection shall not apply to amounts 
     paid or incurred by a taxpayer in any taxable year in which 
     such taxpayer is a major integrated oil company (as defined 
     in section 167(h)(5)(B)).''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to amounts paid or incurred in taxable years 
     beginning after the date of the enactment of this Act.

                       TITLE IV--THE BUFFETT RULE

     SEC. 401. FAIR SHARE TAX ON HIGH-INCOME TAXPAYERS.

       (a) In General.--Subchapter A of chapter 1 of the Internal 
     Revenue Code of 1986 is amended by adding at the end the 
     following new part:

          ``PART VII--FAIR SHARE TAX ON HIGH-INCOME TAXPAYERS

     ``SEC. 59B. FAIR SHARE TAX.

       ``(a) General Rule.--
       ``(1) Phase-in of tax.--In the case of any high-income 
     taxpayer, there is hereby imposed for a taxable year (in 
     addition to any other tax imposed by this subtitle) a tax 
     equal to the product of--
       ``(A) the amount determined under paragraph (2), and
       ``(B) a fraction (not to exceed 1)--
       ``(i) the numerator of which is the excess of--

       ``(I) the taxpayer's adjusted gross income, over
       ``(II) the dollar amount in effect under subsection (c)(1), 
     and

       ``(ii) the denominator of which is the dollar amount in 
     effect under subsection (c)(1).
       ``(2) Amount of tax.--The amount of tax determined under 
     this paragraph is an amount equal to the excess (if any) of--
       ``(A) the tentative fair share tax for the taxable year, 
     over
       ``(B) the excess of--
       ``(i) the sum of--

       ``(I) the regular tax liability (as defined in section 
     26(b)) for the taxable year,
       ``(II) the tax imposed by section 55 for the taxable year, 
     plus
       ``(III) the payroll tax for the taxable year, over

       ``(ii) the credits allowable under part IV of subchapter A 
     (other than sections 27(a), 31, and 34).
       ``(b) Tentative Fair Share Tax.--For purposes of this 
     section--
       ``(1) In general.--The tentative fair share tax for the 
     taxable year is 30 percent of the excess of--
       ``(A) the adjusted gross income of the taxpayer, over
       ``(B) the modified charitable contribution deduction for 
     the taxable year.
       ``(2) Modified charitable contribution deduction.--For 
     purposes of paragraph (1)--
       ``(A) In general.--The modified charitable contribution 
     deduction for any taxable year is an amount equal to the 
     amount which bears the same ratio to the deduction allowable 
     under section 170 (section 642(c) in the case of a trust or 
     estate) for such taxable year as--
       ``(i) the amount of itemized deductions allowable under the 
     regular tax (as defined in section 55) for such taxable year, 
     determined after the application of section 68, bears to
       ``(ii) such amount, determined before the application of 
     section 68.
       ``(B) Taxpayer must itemize.--In the case of any individual 
     who does not elect to itemize deductions for the taxable 
     year, the modified charitable contribution deduction shall be 
     zero.
       ``(c) High-income Taxpayer.--For purposes of this section--
       ``(1) In general.--The term `high-income taxpayer' means, 
     with respect to any taxable year, any taxpayer (other than a 
     corporation) with an adjusted gross income for such taxable 
     year in excess of $1,000,000 (50 percent of such amount in 
     the case of a married individual who files a separate 
     return).
       ``(2) Inflation adjustment.--
       ``(A) In general.--In the case of a taxable year beginning 
     after 2014, the $1,000,000 amount under paragraph (1) shall 
     be increased by an amount equal to--
       ``(i) such dollar amount, multiplied by
       ``(ii) the cost-of-living adjustment determined under 
     section 1(f)(3) for the calendar year in which the taxable 
     year begins, determined by substituting `calendar year 2013' 
     for `calendar year 1992' in subparagraph (B) thereof.
       ``(B) Rounding.--If any amount as adjusted under 
     subparagraph (A) is not a multiple of $10,000, such amount 
     shall be rounded to the next lowest multiple of $10,000.
       ``(d) Payroll Tax.--For purposes of this section, the 
     payroll tax for any taxable year is an amount equal to the 
     excess of--
       ``(1) the taxes imposed on the taxpayer under sections 
     1401, 1411, 3101, 3201, and 3211(a) (to the extent such taxes 
     are attributable to the rate of tax in effect under section 
     3101) with respect to such taxable year or wages or 
     compensation received during the taxable year, over
       ``(2) the deduction allowable under section 164(f) for such 
     taxable year.
       ``(e) Special Rule for Estates and Trusts.--For purposes of 
     this section, in the case of an estate or trust, adjusted 
     gross income shall be computed in the manner described in 
     section 67(e).
       ``(f) Not Treated as Tax Imposed by This Chapter for 
     Certain Purposes.--The tax imposed under this section shall 
     not be treated as tax imposed by this chapter for purposes of 
     determining the amount of any credit under this chapter 
     (other than the credit allowed under section 27(a)) or for 
     purposes of section 55.''.
       (b) Conforming Amendment.--Section 26(b)(2) of such Code is 
     amended by redesignating subparagraphs (C) through (X) as 
     subparagraphs (D) through (Y), respectively, and by inserting 
     after subparagraph (B) the following new subparagraph:
       ``(C) section 59B (relating to fair share tax),''.
       (c) Clerical Amendment.--The table of parts for subchapter 
     A of chapter 1 of such Code is amended by adding at the end 
     the following new item:

``Part VII--Fair Share Tax on High-Income Taxpayers''.


[[Page H5770]]


       (d) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2013.

                      TITLE V--SENSE OF THE HOUSE

     SEC. 501. SENSE OF THE HOUSE ON THE NEED FOR A FAIR, BALANCED 
                   AND BIPARTISAN APPROACH TO LONG-TERM DEFICIT 
                   REDUCTION.

       (a) The House finds that--
       (1) every bipartisan commission has recommended - and the 
     majority of Americans agree - that we should take a balanced, 
     bipartisan approach to reducing the deficit that addresses 
     both revenue and spending; and
       (2) sequestration is a meat-ax approach to deficit 
     reduction that imposes deep and mindless cuts, regardless of 
     their impact on vital services and investments.
       (b) It is the sense of the House that the Congress should 
     replace the entire 10-year sequester established by the 
     Budget Control Act of 2011 with a balanced approach that 
     would increase revenues without increasing the tax burden on 
     middle-income Americans, and decrease long-term spending 
     while maintaining the Medicare guarantee, protecting Social 
     Security and a strong social safety net, and making strategic 
     investments in education, science, research, and critical 
     infrastructure necessary to compete in the global economy.