[Congressional Record Volume 160, Number 146 (Wednesday, December 3, 2014)]
[House]
[Pages H8323-H8343]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
TAX INCREASE PREVENTION ACT OF 2014
Mr. CAMP. Mr. Speaker, pursuant to House Resolution 766, I call up
the bill (H.R. 5771) to amend the Internal Revenue Code of 1986 to
extend certain expiring provisions and make technical corrections, and
for other purposes, and ask for its immediate consideration.
The Clerk read the title of the bill.
The SPEAKER pro tempore. Pursuant to House Resolution 766, the
amendment printed in part A of House Report 113-643 is adopted, and the
bill, as amended, is considered read.
The text of the bill, as amended, is as follows:
H.R. 5771
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE, ETC.
(a) Short Title.--This Act may be cited as the ``Tax
Increase Prevention Act of 2014''.
(b) Amendment of 1986 Code.--Except as otherwise expressly
provided, whenever in this Act an amendment or repeal is
expressed in terms of an amendment to, or repeal of, a
section or other provision, the reference shall be considered
to be made to a section or other provision of the Internal
Revenue Code of 1986.
(c) Table of Contents.--The table of contents for this Act
is as follows:
Sec. 1. Short title, etc.
TITLE I--CERTAIN EXPIRING PROVISIONS
Subtitle A--Individual Tax Extenders
Sec. 101. Extension of deduction for certain expenses of elementary and
secondary school teachers.
Sec. 102. Extension of exclusion from gross income of discharge of
qualified principal residence indebtedness.
Sec. 103. Extension of parity for employer-provided mass transit and
parking benefits.
Sec. 104. Extension of mortgage insurance premiums treated as qualified
residence interest.
Sec. 105. Extension of deduction of State and local general sales
taxes.
Sec. 106. Extension of special rule for contributions of capital gain
real property made for conservation purposes.
Sec. 107. Extension of above-the-line deduction for qualified tuition
and related expenses.
Sec. 108. Extension of tax-free distributions from individual
retirement plans for charitable purposes.
Subtitle B--Business Tax Extenders
Sec. 111. Extension of research credit.
Sec. 112. Extension of temporary minimum low-income housing tax credit
rate for non-federally subsidized buildings.
Sec. 113. Extension of military housing allowance exclusion for
determining whether a tenant in certain counties is low-
income.
Sec. 114. Extension of Indian employment tax credit.
Sec. 115. Extension of new markets tax credit.
Sec. 116. Extension of railroad track maintenance credit.
Sec. 117. Extension of mine rescue team training credit.
Sec. 118. Extension of employer wage credit for employees who are
active duty members of the uniformed services.
Sec. 119. Extension of work opportunity tax credit.
Sec. 120. Extension of qualified zone academy bonds.
Sec. 121. Extension of classification of certain race horses as 3-year
property.
Sec. 122. Extension of 15-year straight-line cost recovery for
qualified leasehold improvements, qualified restaurant
buildings and improvements, and qualified retail
improvements.
Sec. 123. Extension of 7-year recovery period for motorsports
entertainment complexes.
Sec. 124. Extension of accelerated depreciation for business property
on an Indian reservation.
Sec. 125. Extension of bonus depreciation.
Sec. 126. Extension of enhanced charitable deduction for contributions
of food inventory.
Sec. 127. Extension of increased expensing limitations and treatment of
certain real property as section 179 property.
Sec. 128. Extension of election to expense mine safety equipment.
Sec. 129. Extension of special expensing rules for certain film and
television productions.
Sec. 130. Extension of deduction allowable with respect to income
attributable to domestic production activities in Puerto
Rico.
Sec. 131. Extension of modification of tax treatment of certain
payments to controlling exempt organizations.
Sec. 132. Extension of treatment of certain dividends of regulated
investment companies.
Sec. 133. Extension of RIC qualified investment entity treatment under
FIRPTA.
Sec. 134. Extension of subpart F exception for active financing income.
Sec. 135. Extension of look-thru treatment of payments between related
controlled foreign corporations under foreign personal
holding company rules.
Sec. 136. Extension of temporary exclusion of 100 percent of gain on
certain small business stock.
Sec. 137. Extension of basis adjustment to stock of S corporations
making charitable contributions of property.
Sec. 138. Extension of reduction in S-corporation recognition period
for built-in gains tax.
Sec. 139. Extension of empowerment zone tax incentives.
Sec. 140. Extension of temporary increase in limit on cover over of rum
excise taxes to Puerto Rico and the Virgin Islands.
Sec. 141. Extension of American Samoa economic development credit.
Subtitle C--Energy Tax Extenders
Sec. 151. Extension of credit for nonbusiness energy property.
Sec. 152. Extension of second generation biofuel producer credit.
Sec. 153. Extension of incentives for biodiesel and renewable diesel.
Sec. 154. Extension of production credit for Indian coal facilities
placed in service before 2009.
Sec. 155. Extension of credits with respect to facilities producing
energy from certain renewable resources.
Sec. 156. Extension of credit for energy-efficient new homes.
Sec. 157. Extension of special allowance for second generation biofuel
plant property.
Sec. 158. Extension of energy efficient commercial buildings deduction.
Sec. 159. Extension of special rule for sales or dispositions to
implement FERC or State electric restructuring policy for
qualified electric utilities.
Sec. 160. Extension of excise tax credits relating to certain fuels.
Sec. 161. Extension of credit for alternative fuel vehicle refueling
property.
Subtitle D--Extenders Relating to Multiemployer Defined Benefit Pension
Plans
Sec. 171. Extension of automatic extension of amortization periods.
Sec. 172. Extension of shortfall funding method and endangered and
critical rules.
TITLE II--TECHNICAL CORRECTIONS
Sec. 201. Short title.
Sec. 202. Amendments relating to American Taxpayer Relief Act of 2012.
Sec. 203. Amendment relating to Middle Class Tax Relief and Job
Creation Act of 2012.
Sec. 204. Amendment relating to FAA Modernization and Reform Act of
2012.
Sec. 205. Amendments relating to Regulated Investment Company
Modernization Act of 2010.
Sec. 206. Amendments relating to Tax Relief, Unemployment Insurance
Reauthorization, and Job Creation Act of 2010.
Sec. 207. Amendments relating to Creating Small Business Jobs Act of
2010.
Sec. 208. Clerical amendment relating to Hiring Incentives to Restore
Employment Act.
Sec. 209. Amendments relating to American Recovery and Reinvestment Tax
Act of 2009.
Sec. 210. Amendments relating to Energy Improvement and Extension Act
of 2008.
Sec. 211. Amendments relating to Tax Extenders and Alternative Minimum
Tax Relief Act of 2008.
Sec. 212. Clerical amendments relating to Housing Assistance Tax Act of
2008.
Sec. 213. Amendments and provision relating to Heroes Earnings
Assistance and Relief Tax Act of 2008.
Sec. 214. Amendments relating to Economic Stimulus Act of 2008.
Sec. 215. Amendments relating to Tax Technical Corrections Act of 2007.
Sec. 216. Amendment relating to Tax Relief and Health Care Act of 2006.
Sec. 217. Amendment relating to Safe, Accountable, Flexible, Efficient
Transportation Equity Act of 2005: A Legacy for Users.
Sec. 218. Amendments relating to Energy Tax Incentives Act of 2005.
Sec. 219. Amendments relating to American Jobs Creation Act of 2004.
Sec. 220. Other clerical corrections.
Sec. 221. Deadwood provisions.
TITLE III--JOINT COMMITTEE ON TAXATION
Sec. 301. Increased refund and credit threshold for Joint Committee on
Taxation review of C corporation return.
TITLE IV--BUDGETARY EFFECTS
Sec. 401. Budgetary effects.
[[Page H8324]]
TITLE I--CERTAIN EXPIRING PROVISIONS
Subtitle A--Individual Tax Extenders
SEC. 101. EXTENSION OF DEDUCTION FOR CERTAIN EXPENSES OF
ELEMENTARY AND SECONDARY SCHOOL TEACHERS.
(a) In General.--Subparagraph (D) of section 62(a)(2) is
amended by striking ``or 2013'' and inserting ``2013, or
2014''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2013.
SEC. 102. EXTENSION OF EXCLUSION FROM GROSS INCOME OF
DISCHARGE OF QUALIFIED PRINCIPAL RESIDENCE
INDEBTEDNESS.
(a) In General.--Subparagraph (E) of section 108(a)(1) is
amended by striking ``January 1, 2014'' and inserting
``January 1, 2015''.
(b) Effective Date.--The amendment made by this section
shall apply to indebtedness discharged after December 31,
2013.
SEC. 103. EXTENSION OF PARITY FOR EMPLOYER-PROVIDED MASS
TRANSIT AND PARKING BENEFITS.
(a) In General.--Paragraph (2) of section 132(f) is amended
by striking ``January 1, 2014'' and inserting ``January 1,
2015''.
(b) Effective Date.--The amendment made by this section
shall apply to months after December 31, 2013.
SEC. 104. EXTENSION OF MORTGAGE INSURANCE PREMIUMS TREATED AS
QUALIFIED RESIDENCE INTEREST.
(a) In General.--Subclause (I) of section 163(h)(3)(E)(iv)
is amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to amounts paid or accrued after December 31,
2013.
SEC. 105. EXTENSION OF DEDUCTION OF STATE AND LOCAL GENERAL
SALES TAXES.
(a) In General.--Subparagraph (I) of section 164(b)(5) is
amended by striking ``January 1, 2014'' and inserting
``January 1, 2015''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2013.
SEC. 106. EXTENSION OF SPECIAL RULE FOR CONTRIBUTIONS OF
CAPITAL GAIN REAL PROPERTY MADE FOR
CONSERVATION PURPOSES.
(a) In General.--Clause (vi) of section 170(b)(1)(E) is
amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Contributions by Certain Corporate Farmers and
Ranchers.--Clause (iii) of section 170(b)(2)(B) is amended by
striking ``December 31, 2013'' and inserting ``December 31,
2014''.
(c) Effective Date.--The amendments made by this section
shall apply to contributions made in taxable years beginning
after December 31, 2013.
SEC. 107. EXTENSION OF ABOVE-THE-LINE DEDUCTION FOR QUALIFIED
TUITION AND RELATED EXPENSES.
(a) In General.--Subsection (e) of section 222 is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2013.
SEC. 108. EXTENSION OF TAX-FREE DISTRIBUTIONS FROM INDIVIDUAL
RETIREMENT PLANS FOR CHARITABLE PURPOSES.
(a) In General.--Subparagraph (F) of section 408(d)(8) is
amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to distributions made in taxable years beginning
after December 31, 2013.
Subtitle B--Business Tax Extenders
SEC. 111. EXTENSION OF RESEARCH CREDIT.
(a) In General.--Paragraph (1) of section 41(h) is amended
by striking ``paid or incurred'' and all that follows and
inserting ``paid or incurred after December 31, 2014.''.
(b) Conforming Amendment.--Subparagraph (D) of section
45C(b)(1) is amended to read as follows:
``(D) Special rule.--If section 41 is not in effect for any
period, such section shall be deemed to remain in effect for
such period for purposes of this paragraph.''.
(c) Effective Date.--The amendments made by this section
shall apply to amounts paid or incurred after December 31,
2013.
SEC. 112. EXTENSION OF TEMPORARY MINIMUM LOW-INCOME HOUSING
TAX CREDIT RATE FOR NON-FEDERALLY SUBSIDIZED
BUILDINGS.
(a) In General.--Subparagraph (A) of section 42(b)(2) is
amended by striking ``January 1, 2014'' and inserting
``January 1, 2015''.
(b) Effective Date.--The amendment made by this section
shall take effect on January 1, 2014.
SEC. 113. EXTENSION OF MILITARY HOUSING ALLOWANCE EXCLUSION
FOR DETERMINING WHETHER A TENANT IN CERTAIN
COUNTIES IS LOW-INCOME.
(a) In General.--Subsection (b) of section 3005 of the
Housing Assistance Tax Act of 2008 is amended by striking
``January 1, 2014'' each place it appears and inserting
``January 1, 2015''.
(b) Effective Date.--The amendment made by this section
shall take effect as if included in the enactment of section
3005 of the Housing Assistance Tax Act of 2008.
SEC. 114. EXTENSION OF INDIAN EMPLOYMENT TAX CREDIT.
(a) In General.--Subsection (f) of section 45A is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2013.
SEC. 115. EXTENSION OF NEW MARKETS TAX CREDIT.
(a) In General.--Subparagraph (G) of section 45D(f)(1) is
amended by striking ``and 2013'' and inserting ``2013, and
2014''.
(b) Carryover of Unused Limitation.--Paragraph (3) of
section 45D(f) is amended by striking ``2018'' and inserting
``2019''.
(c) Effective Date.--The amendments made by this section
shall apply to calendar years beginning after December 31,
2013.
SEC. 116. EXTENSION OF RAILROAD TRACK MAINTENANCE CREDIT.
(a) In General.--Subsection (f) of section 45G is amended
by striking ``January 1, 2014'' and inserting ``January 1,
2015''.
(b) Effective Date.--The amendment made by this section
shall apply to expenditures paid or incurred in taxable years
beginning after December 31, 2013.
SEC. 117. EXTENSION OF MINE RESCUE TEAM TRAINING CREDIT.
(a) In General.--Subsection (e) of section 45N is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2013.
SEC. 118. EXTENSION OF EMPLOYER WAGE CREDIT FOR EMPLOYEES WHO
ARE ACTIVE DUTY MEMBERS OF THE UNIFORMED
SERVICES.
(a) In General.--Subsection (f) of section 45P is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to payments made after December 31, 2013.
SEC. 119. EXTENSION OF WORK OPPORTUNITY TAX CREDIT.
(a) In General.--Paragraph (4) of section 51(c) is amended
by striking ``for the employer'' and all that follows and
inserting ``for the employer after December 31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to individuals who begin work for the employer
after December 31, 2013.
SEC. 120. EXTENSION OF QUALIFIED ZONE ACADEMY BONDS.
(a) Extension.--Paragraph (1) of section 54E(c) is amended
by striking ``and 2013'' and inserting ``2013, and 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to obligations issued after December 31, 2013.
SEC. 121. EXTENSION OF CLASSIFICATION OF CERTAIN RACE HORSES
AS 3-YEAR PROPERTY.
(a) In General.--Clause (i) of section 168(e)(3)(A) is
amended--
(1) by striking ``January 1, 2014'' in subclause (I) and
inserting ``January 1, 2015'', and
(2) by striking ``December 31, 2013'' in subclause (II) and
inserting ``December 31, 2014''.
(b) Effective Date.--The amendments made by this section
shall apply to property placed in service after December 31,
2013.
SEC. 122. EXTENSION OF 15-YEAR STRAIGHT-LINE COST RECOVERY
FOR QUALIFIED LEASEHOLD IMPROVEMENTS, QUALIFIED
RESTAURANT BUILDINGS AND IMPROVEMENTS, AND
QUALIFIED RETAIL IMPROVEMENTS.
(a) In General.--Clauses (iv), (v), and (ix) of section
168(e)(3)(E) are each amended by striking ``January 1, 2014''
and inserting ``January 1, 2015''.
(b) Effective Date.--The amendments made by this section
shall apply to property placed in service after December 31,
2013.
SEC. 123. EXTENSION OF 7-YEAR RECOVERY PERIOD FOR MOTORSPORTS
ENTERTAINMENT COMPLEXES.
(a) In General.--Subparagraph (D) of section 168(i)(15) is
amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2013.
SEC. 124. EXTENSION OF ACCELERATED DEPRECIATION FOR BUSINESS
PROPERTY ON AN INDIAN RESERVATION.
(a) In General.--Paragraph (8) of section 168(j) is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2013.
SEC. 125. EXTENSION OF BONUS DEPRECIATION.
(a) In General.--Paragraph (2) of section 168(k) is
amended--
(1) by striking ``January 1, 2015'' in subparagraph (A)(iv)
and inserting ``January 1, 2016'', and
(2) by striking ``January 1, 2014'' each place it appears
and inserting ``January 1, 2015''.
(b) Special Rule for Federal Long-Term Contracts.--Clause
(ii) of section 460(c)(6)(B) is amended by striking ``January
1, 2014 (January 1, 2015'' and inserting ``January 1, 2015
(January 1, 2016''.
(c) Extension of Election to Accelerate the AMT Credit in
Lieu of Bonus Depreciation.--
(1) In general.--Subclause (II) of section
168(k)(4)(D)(iii) is amended by striking ``January 1, 2014''
and inserting ``January 1, 2015''.
(2) Round 4 extension property.--Paragraph (4) of section
168(k) is amended by adding at the end the following new
subparagraph:
``(K) Special rules for round 4 extension property.--
``(i) In general.--In the case of round 4 extension
property, in applying this paragraph to any taxpayer--
``(I) the limitation described in subparagraph (B)(i) and
the business credit increase
[[Page H8325]]
amount under subparagraph (E)(iii) thereof shall not apply,
and
``(II) the bonus depreciation amount, maximum amount, and
maximum increase amount shall be computed separately from
amounts computed with respect to eligible qualified property
which is not round 4 extension property.
``(ii) Election.--
``(I) A taxpayer who has an election in effect under this
paragraph for round 3 extension property shall be treated as
having an election in effect for round 4 extension property
unless the taxpayer elects to not have this paragraph apply
to round 4 extension property.
``(II) A taxpayer who does not have an election in effect
under this paragraph for round 3 extension property may elect
to have this paragraph apply to round 4 extension property.
``(iii) Round 4 extension property.--For purposes of this
subparagraph, the term `round 4 extension property' means
property which is eligible qualified property solely by
reason of the extension of the application of the special
allowance under paragraph (1) pursuant to the amendments made
by section 125(a) of the Tax Increase Prevention Act of 2014
(and the application of such extension to this paragraph
pursuant to the amendment made by section 125(c) of such
Act).''.
(d) Conforming Amendments.--
(1) The heading for subsection (k) of section 168 is
amended by striking ``January 1, 2014'' and inserting
``January 1, 2015''.
(2) The heading for clause (ii) of section 168(k)(2)(B) is
amended by striking ``pre-january 1, 2014'' and inserting
``pre-january 1, 2015''.
(3) Subparagraph (C) of section 168(n)(2) is amended by
striking ``January 1, 2014'' and inserting ``January 1,
2015''.
(4) Subparagraph (D) of section 1400L(b)(2) is amended by
striking ``January 1, 2014'' and inserting ``January 1,
2015''.
(5) Subparagraph (B) of section 1400N(d)(3) is amended by
striking ``January 1, 2014'' and inserting ``January 1,
2015''.
(e) Effective Date.--The amendments made by this section
shall apply to property placed in service after December 31,
2013, in taxable years ending after such date.
SEC. 126. EXTENSION OF ENHANCED CHARITABLE DEDUCTION FOR
CONTRIBUTIONS OF FOOD INVENTORY.
(a) In General.--Clause (iv) of section 170(e)(3)(C) is
amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to contributions made after December 31, 2013.
SEC. 127. EXTENSION OF INCREASED EXPENSING LIMITATIONS AND
TREATMENT OF CERTAIN REAL PROPERTY AS SECTION
179 PROPERTY.
(a) In General.--
(1) Dollar limitation.--Section 179(b)(1) is amended--
(A) by striking ``beginning in 2010, 2011, 2012, or 2013''
in subparagraph (B) and inserting ``beginning after 2009 and
before 2015'', and
(B) by striking ``2013'' in subparagraph (C) and inserting
``2014''.
(2) Reduction in limitation.--Section 179(b)(2) is
amended--
(A) by striking ``beginning in 2010, 2011, 2012, or 2013''
in subparagraph (B) and inserting ``beginning after 2009 and
before 2015'', and
(B) by striking ``2013'' in subparagraph (C) and inserting
``2014''.
(b) Computer Software.--Section 179(d)(1)(A)(ii) is amended
by striking ``2014'' and inserting ``2015''.
(c) Election.--Section 179(c)(2) is amended by striking
``2014'' and inserting ``2015''.
(d) Special Rules for Treatment of Qualified Real
Property.--
(1) In general.--Section 179(f)(1) is amended by striking
``beginning in 2010, 2011, 2012, or 2013'' and inserting
``beginning after 2009 and before 2015''.
(2) Carryover limitation.--
(A) In general.--Section 179(f)(4) is amended by striking
``2013'' each place it appears and inserting ``2014''.
(B) Conforming amendment.--The heading of subparagraph (C)
of section 179(f)(4) is amended by striking ``2011 and 2012''
and inserting ``2011, 2012, and 2013''.
(e) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2013.
SEC. 128. EXTENSION OF ELECTION TO EXPENSE MINE SAFETY
EQUIPMENT.
(a) In General.--Subsection (g) of section 179E is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2013.
SEC. 129. EXTENSION OF SPECIAL EXPENSING RULES FOR CERTAIN
FILM AND TELEVISION PRODUCTIONS.
(a) In General.--Subsection (f) of section 181 is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Dates.--The amendment made by this section
shall apply to productions commencing after December 31,
2013.
SEC. 130. EXTENSION OF DEDUCTION ALLOWABLE WITH RESPECT TO
INCOME ATTRIBUTABLE TO DOMESTIC PRODUCTION
ACTIVITIES IN PUERTO RICO.
(a) In General.--Subparagraph (C) of section 199(d)(8) is
amended--
(1) by striking ``first 8 taxable years'' and inserting
``first 9 taxable years'', and
(2) by striking ``January 1, 2014'' and inserting ``January
1, 2015''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2013.
SEC. 131. EXTENSION OF MODIFICATION OF TAX TREATMENT OF
CERTAIN PAYMENTS TO CONTROLLING EXEMPT
ORGANIZATIONS.
(a) In General.--Clause (iv) of section 512(b)(13)(E) is
amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to payments received or accrued after December
31, 2013.
SEC. 132. EXTENSION OF TREATMENT OF CERTAIN DIVIDENDS OF
REGULATED INVESTMENT COMPANIES.
(a) In General.--Paragraphs (1)(C)(v) and (2)(C)(v) of
section 871(k) are each amended by striking ``December 31,
2013'' and inserting ``December 31, 2014''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2013.
SEC. 133. EXTENSION OF RIC QUALIFIED INVESTMENT ENTITY
TREATMENT UNDER FIRPTA.
(a) In General.--Clause (ii) of section 897(h)(4)(A) is
amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Effective Date.--
(1) In general.--The amendment made by this section shall
take effect on January 1, 2014. Notwithstanding the preceding
sentence, such amendment shall not apply with respect to the
withholding requirement under section 1445 of the Internal
Revenue Code of 1986 for any payment made before the date of
the enactment of this Act.
(2) Amounts withheld on or before date of enactment.--In
the case of a regulated investment company--
(A) which makes a distribution after December 31, 2013, and
before the date of the enactment of this Act, and
(B) which would (but for the second sentence of paragraph
(1)) have been required to withhold with respect to such
distribution under section 1445 of such Code,
such investment company shall not be liable to any person to
whom such distribution was made for any amount so withheld
and paid over to the Secretary of the Treasury.
SEC. 134. EXTENSION OF SUBPART F EXCEPTION FOR ACTIVE
FINANCING INCOME.
(a) Exempt Insurance Income.--Paragraph (10) of section
953(e) is amended--
(1) by striking ``January 1, 2014'' and inserting ``January
1, 2015'', and
(2) by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Special Rule for Income Derived in the Active Conduct
of Banking, Financing, or Similar Businesses.--Paragraph (9)
of section 954(h) is amended by striking ``January 1, 2014''
and inserting ``January 1, 2015''.
(c) Effective Date.--The amendments made by this section
shall apply to taxable years of foreign corporations
beginning after December 31, 2013, and to taxable years of
United States shareholders with or within which any such
taxable year of such foreign corporation ends.
SEC. 135. EXTENSION OF LOOK-THRU TREATMENT OF PAYMENTS
BETWEEN RELATED CONTROLLED FOREIGN CORPORATIONS
UNDER FOREIGN PERSONAL HOLDING COMPANY RULES.
(a) In General.--Subparagraph (C) of section 954(c)(6) is
amended by striking ``January 1, 2014'' and inserting
``January 1, 2015''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years of foreign corporations
beginning after December 31, 2013, and to taxable years of
United States shareholders with or within which such taxable
years of foreign corporations end.
SEC. 136. EXTENSION OF TEMPORARY EXCLUSION OF 100 PERCENT OF
GAIN ON CERTAIN SMALL BUSINESS STOCK.
(a) In General.--Paragraph (4) of section 1202(a) is
amended--
(1) by striking ``January 1, 2014'' and inserting ``January
1, 2015'', and
(2) by striking ``and 2013'' in the heading and inserting
``2013, and 2014''.
(b) Effective Date.--The amendments made by this section
shall apply to stock acquired after December 31, 2013.
SEC. 137. EXTENSION OF BASIS ADJUSTMENT TO STOCK OF S
CORPORATIONS MAKING CHARITABLE CONTRIBUTIONS OF
PROPERTY.
(a) In General.--Paragraph (2) of section 1367(a) is
amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to contributions made in taxable years beginning
after December 31, 2013.
SEC. 138. EXTENSION OF REDUCTION IN S-CORPORATION RECOGNITION
PERIOD FOR BUILT-IN GAINS TAX.
(a) In General.--Subparagraph (C) of section 1374(d)(7) is
amended--
(1) by striking ``2012 or 2013'' and inserting ``2012,
2013, or 2014'', and
(2) by striking ``2012 and 2013'' in the heading and
inserting ``2012, 2013, and 2014''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2013.
SEC. 139. EXTENSION OF EMPOWERMENT ZONE TAX INCENTIVES.
(a) In General.--Clause (i) of section 1391(d)(1)(A) is
amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(b) Treatment of Certain Termination Dates Specified in
Nominations.--In the
[[Page H8326]]
case of a designation of an empowerment zone the nomination
for which included a termination date which is
contemporaneous with the date specified in subparagraph
(A)(i) of section 1391(d)(1) of the Internal Revenue Code of
1986 (as in effect before the enactment of this Act),
subparagraph (B) of such section shall not apply with respect
to such designation if, after the date of the enactment of
this section, the entity which made such nomination amends
the nomination to provide for a new termination date in such
manner as the Secretary of the Treasury (or the Secretary's
designee) may provide.
(c) Effective Dates.--The amendment made by this section
shall apply to periods after December 31, 2013.
SEC. 140. EXTENSION OF TEMPORARY INCREASE IN LIMIT ON COVER
OVER OF RUM EXCISE TAXES TO PUERTO RICO AND THE
VIRGIN ISLANDS.
(a) In General.--Paragraph (1) of section 7652(f) is
amended by striking ``January 1, 2014'' and inserting
``January 1, 2015''.
(b) Effective Date.--The amendment made by this section
shall apply to distilled spirits brought into the United
States after December 31, 2013.
SEC. 141. EXTENSION OF AMERICAN SAMOA ECONOMIC DEVELOPMENT
CREDIT.
(a) In General.--Subsection (d) of section 119 of division
A of the Tax Relief and Health Care Act of 2006 is amended--
(1) by striking ``January 1, 2014'' each place it appears
and inserting ``January 1, 2015'',
(2) by striking ``first 8 taxable years'' in paragraph (1)
and inserting ``first 9 taxable years'', and
(3) by striking ``first 2 taxable years'' in paragraph (2)
and inserting ``first 3 taxable years''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2013.
Subtitle C--Energy Tax Extenders
SEC. 151. EXTENSION OF CREDIT FOR NONBUSINESS ENERGY
PROPERTY.
(a) In General.--Paragraph (2) of section 25C(g) is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2013.
SEC. 152. EXTENSION OF SECOND GENERATION BIOFUEL PRODUCER
CREDIT.
(a) In General.--Clause (i) of section 40(b)(6)(J) is
amended by striking ``January 1, 2014'' and inserting
``January 1, 2015''.
(b) Effective Date.--The amendment made by this section
shall apply to qualified second generation biofuel production
after December 31, 2013.
SEC. 153. EXTENSION OF INCENTIVES FOR BIODIESEL AND RENEWABLE
DIESEL.
(a) Credits for Biodiesel and Renewable Diesel Used as
Fuel.--Subsection (g) of section 40A is amended by striking
``December 31, 2013'' and inserting ``December 31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to fuel sold or used after December 31, 2013.
SEC. 154. EXTENSION OF PRODUCTION CREDIT FOR INDIAN COAL
FACILITIES PLACED IN SERVICE BEFORE 2009.
(a) In General.--Subparagraph (A) of section 45(e)(10) is
amended by striking ``8-year period'' each place it appears
and inserting ``9-year period''.
(b) Effective Date.--The amendment made by this section
shall apply to coal produced after December 31, 2013.
SEC. 155. EXTENSION OF CREDITS WITH RESPECT TO FACILITIES
PRODUCING ENERGY FROM CERTAIN RENEWABLE
RESOURCES.
(a) In General.--The following provisions of section 45(d)
are each amended by striking ``January 1, 2014'' each place
it appears and inserting ``January 1, 2015'':
(1) Paragraph (1).
(2) Paragraph (2)(A).
(3) Paragraph (3)(A).
(4) Paragraph (4)(B).
(5) Paragraph (6).
(6) Paragraph (7).
(7) Paragraph (9).
(8) Paragraph (11)(B).
(b) Extension of Election to Treat Qualified Facilities as
Energy Property.--Clause (ii) of section 48(a)(5)(C) is
amended by striking ``January 1, 2014'' and inserting
``January 1, 2015''.
(c) Effective Dates.--The amendments made by this section
shall take effect on January 1, 2014.
SEC. 156. EXTENSION OF CREDIT FOR ENERGY-EFFICIENT NEW HOMES.
(a) In General.--Subsection (g) of section 45L is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to homes acquired after December 31, 2013.
SEC. 157. EXTENSION OF SPECIAL ALLOWANCE FOR SECOND
GENERATION BIOFUEL PLANT PROPERTY.
(a) In General.--Subparagraph (D) of section 168(l)(2) is
amended by striking ``January 1, 2014'' and inserting
``January 1, 2015''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2013.
SEC. 158. EXTENSION OF ENERGY EFFICIENT COMMERCIAL BUILDINGS
DEDUCTION.
(a) In General.--Subsection (h) of section 179D is amended
by striking ``December 31, 2013'' and inserting ``December
31, 2014''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2013.
SEC. 159. EXTENSION OF SPECIAL RULE FOR SALES OR DISPOSITIONS
TO IMPLEMENT FERC OR STATE ELECTRIC
RESTRUCTURING POLICY FOR QUALIFIED ELECTRIC
UTILITIES.
(a) In General.--Paragraph (3) of section 451(i) is amended
by striking ``January 1, 2014'' and inserting ``January 1,
2015''.
(b) Effective Date.--The amendment made by this section
shall apply to dispositions after December 31, 2013.
SEC. 160. EXTENSION OF EXCISE TAX CREDITS RELATING TO CERTAIN
FUELS.
(a) Excise Tax Credits and Outlay Payments for Biodiesel
and Renewable Diesel Fuel Mixtures.--
(1) Paragraph (6) of section 6426(c) is amended by striking
``December 31, 2013'' and inserting ``December 31, 2014''.
(2) Subparagraph (B) of section 6427(e)(6) is amended by
striking ``December 31, 2013'' and inserting ``December 31,
2014''.
(b) Extension of Alternative Fuels Excise Tax Credits.--
(1) In general.--Sections 6426(d)(5) and 6426(e)(3) are
each amended by striking ``December 31, 2013'' and inserting
``December 31, 2014''.
(2) Outlay payments for alternative fuels.--Subparagraph
(C) of section 6427(e)(6) is amended by striking ``December
31, 2013'' and inserting ``December 31, 2014''.
(c) Extension of Alternative Fuels Excise Tax Credits
Relating to Liquefied Hydrogen.--
(1) In general.--Sections 6426(d)(5) and 6426(e)(3), as
amended by subsection (b), are each amended by striking
``(September 30, 2014 in the case of any sale or use
involving liquefied hydrogen)''.
(2) Outlay payments for alternative fuels.--Paragraph (6)
of section 6427(e) is amended--
(A) by striking ``except as provided in subparagraph (D),
any'' in subparagraph (C), as amended by this Act, and
inserting ``any'',
(B) by striking the comma at the end of subparagraph (C)
and inserting ``, and'', and
(C) by striking subparagraph (D) and redesignating
subparagraph (E) as subparagraph (D).
(d) Effective Dates.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to fuel sold or
used after December 31, 2013.
(2) Liquefied hydrogen.--The amendments made by subsection
(c) shall apply to fuel sold or used after September 30,
2014.
(e) Special Rule for Certain Periods During 2014.--
Notwithstanding any other provision of law, in the case of--
(1) any biodiesel mixture credit properly determined under
section 6426(c) of the Internal Revenue Code of 1986 for
periods after December 31, 2013, and before the date of the
enactment of this Act, and
(2) any alternative fuel credit properly determined under
section 6426(d) of such Code for such periods,
such credit shall be allowed, and any refund or payment
attributable to such credit (including any payment under
section 6427(e) of such Code) shall be made, only in such
manner as the Secretary of the Treasury (or the Secretary's
delegate) shall provide. Such Secretary shall issue guidance
within 30 days after the date of the enactment of this Act
providing for a one-time submission of claims covering
periods described in the preceding sentence. Such guidance
shall provide for a 180-day period for the submission of such
claims (in such manner as prescribed by such Secretary) to
begin not later than 30 days after such guidance is issued.
Such claims shall be paid by such Secretary not later than 60
days after receipt. If such Secretary has not paid pursuant
to a claim filed under this subsection within 60 days after
the date of the filing of such claim, the claim shall be paid
with interest from such date determined by using the
overpayment rate and method under section 6621 of such Code.
SEC. 161. EXTENSION OF CREDIT FOR ALTERNATIVE FUEL VEHICLE
REFUELING PROPERTY.
(a) In General.--Subsection (g) of section 30C is amended
by striking ``placed in service'' and all that follows and
inserting ``placed in service after December 31, 2014.''.
(b) Effective Date.--The amendment made by this section
shall apply to property placed in service after December 31,
2013.
Subtitle D--Extenders Relating to Multiemployer Defined Benefit Pension
Plans
SEC. 171. EXTENSION OF AUTOMATIC EXTENSION OF AMORTIZATION
PERIODS.
(a) In General.--Subparagraph (C) of section 431(d)(1) is
amended by striking ``December 31, 2014'' and inserting
``December 31, 2015''.
(b) Amendment to Employee Retirement Income Security Act of
1974.--Subparagraph (C) of section 304(d)(1) of the Employee
Retirement Income Security Act of 1974 (29 U.S.C.
1084(d)(1)(C)) is amended by striking ``December 31, 2014''
and inserting ``December 31, 2015''.
(c) Effective Date.--The amendments made by this section
shall apply to applications submitted under section
431(d)(1)(A) of the Internal Revenue Code of 1986 and section
304(d)(1)(C) of the Employee Retirement Income Security Act
of 1974 after December 31, 2014.
SEC. 172. EXTENSION OF SHORTFALL FUNDING METHOD AND
ENDANGERED AND CRITICAL RULES.
(a) In General.--Paragraphs (1) and (2) of section 221(c)
of the Pension Protection Act of 2006 are each amended by
striking ``December 31, 2014'' and inserting ``December 31,
2015''.
[[Page H8327]]
(b) Conforming Amendment.--Paragraph (2) of section 221(c)
of the Pension Protection Act of 2006 is amended by striking
``January 1, 2015'' and inserting ``January 1, 2016''.
(c) Effective Date.--The amendments made by this section
shall apply to plan years beginning after December 31, 2014.
TITLE II--TECHNICAL CORRECTIONS
SEC. 201. SHORT TITLE.
This title may be cited as the ``Tax Technical Corrections
Act of 2014''.
SEC. 202. AMENDMENTS RELATING TO AMERICAN TAXPAYER RELIEF ACT
OF 2012.
(a) Amendment Relating to Section 101(b).--Subclause (I) of
section 642(b)(2)(C)(i) is amended by striking ``section
151(d)(3)(C)(iii)'' and inserting ``section 68(b)(1)(C)''.
(b) Amendment Relating to Section 102.--Clause (ii) of
section 911(f)(2)(B) is amended by striking ``described in
section 1(h)(1)(B) shall be treated as a reference to such
excess as determined'' and inserting ``described in section
1(h)(1)(B), and the reference in section 55(b)(3)(C)(ii) to
the excess described in section 1(h)(1)(C)(ii), shall each be
treated as a reference to each such excess as determined''.
(c) Amendments Relating to Section 104.--
(1) Clause (ii) of section 55(d)(4)(B) is amended by
inserting ``subparagraphs (A), (B), and (D) of'' before
``paragraph (1)''.
(2) Subparagraph (C) of section 55(d)(4) is amended by
striking ``increase'' and inserting ``increased amount''.
(d) Amendments Relating to Section 310.--Clause (iii) of
section 6431(f)(3)(A) is amended--
(1) by striking ``2011'' and inserting ``years after
2010'', and
(2) by striking ``of such allocation'' and inserting ``of
any such allocation''.
(e) Amendment Relating to Section 331.--Clause (iii) of
section 168(k)(4)(J) is amended by striking ``any taxable
year'' and inserting ``its first taxable year''.
(f) Effective Date.--The amendments made by this section
shall take effect as if included in the provision of the
American Taxpayer Relief Act of 2012 to which they relate.
SEC. 203. AMENDMENT RELATING TO MIDDLE CLASS TAX RELIEF AND
JOB CREATION ACT OF 2012.
(a) Amendment Relating to Section 7001.--Paragraph (1) of
section 7001 of the Middle Class Tax Relief and Job Creation
Act of 2012 is amended by striking ``201(b)'' and inserting
``202(b)''.
(b) Effective Date.--The amendment made by subsection (a)
shall take effect as if included in section 7001 of the
Middle Class Tax Relief and Job Creation Act of 2012.
SEC. 204. AMENDMENT RELATING TO FAA MODERNIZATION AND REFORM
ACT OF 2012.
(a) Amendment Relating to Section 1107.--Section 4281 is
amended to read as follows:
``SEC. 4281. SMALL AIRCRAFT ON NONESTABLISHED LINES.
``(a) In General.--The taxes imposed by sections 4261 and
4271 shall not apply to transportation by an aircraft having
a maximum certificated takeoff weight of 6,000 pounds or
less, except when such aircraft is operated on an established
line or when such aircraft is a jet aircraft.
``(b) Maximum Certificated Takeoff Weight.--For purposes of
this section, the term `maximum certificated takeoff weight'
means the maximum such weight contained in the type
certificate or airworthiness certificate.
``(c) Sightseeing.--For purposes of this section, an
aircraft shall not be considered as operated on an
established line at any time during which such aircraft is
being operated on a flight the sole purpose of which is
sightseeing.
``(d) Jet Aircraft.--For purposes of this section, the term
`jet aircraft' shall not include any aircraft which is a
rotorcraft or propeller aircraft.''.
(b) Effective Date.--The amendment made by subsection (a)
shall take effect as if included in section 1107 of the FAA
Modernization and Reform Act of 2012.
SEC. 205. AMENDMENTS RELATING TO REGULATED INVESTMENT COMPANY
MODERNIZATION ACT OF 2010.
(a) Amendments Relating to Section 101.--
(1) Subsection (c) of section 101 of the Regulated
Investment Company Modernization Act of 2010 is amended--
(A) by striking ``paragraph (2)'' in paragraph (1) and
inserting ``paragraphs (2) and (3)'', and
(B) by adding at the end the following new paragraph:
``(3) Excise tax.--
``(A) In general.--Except as provided in subparagraph (B),
for purposes of section 4982 of the Internal Revenue Code of
1986, paragraphs (1) and (2) shall apply by substituting `the
1-year periods taken into account under subsection (b)(1)(B)
of such section with respect to calendar years beginning
after December 31, 2010' for `taxable years beginning after
the date of the enactment of this Act'.
``(B) Election.--A regulated investment company may elect
to apply subparagraph (A) by substituting `2011' for `2010'.
Such election shall be made at such time and in such form and
manner as the Secretary of the Treasury (or the Secretary's
delegate) shall prescribe.''.
(2) The first sentence of paragraph (2) of section 852(c)
is amended--
(A) by striking ``and without regard to'' and inserting ``,
without regard to'', and
(B) by inserting ``, and without regard to any capital loss
arising on the first day of the taxable year by reason of
clauses (ii) and (iii) of section 1212(a)(3)(A)'' before the
period at the end.
(b) Amendment Relating to Section 304.--Paragraph (1) of
section 855(a) is amended by inserting ``on or'' before
``before''.
(c) Amendments Relating to Section 308.--
(1) Paragraph (8) of section 852(b) is amended by
redesignating subparagraph (E) as subparagraph (G) and by
striking subparagraphs (C) and (D) and inserting the
following new subparagraphs:
``(C) Post-october capital loss.--For purposes of this
paragraph, the term `post-October capital loss' means--
``(i) any net capital loss attributable to the portion of
the taxable year after October 31, or
``(ii) if there is no such loss--
``(I) any net long-term capital loss attributable to such
portion of the taxable year, or
``(II) any net short-term capital loss attributable to such
portion of the taxable year.
``(D) Late-year ordinary loss.--For purposes of this
paragraph, the term `late-year ordinary loss' means the sum
of any post-October specified loss and any post-December
ordinary loss.
``(E) Post-october specified loss.--For purposes of this
paragraph, the term `post-October specified loss' means the
excess (if any) of--
``(i) the specified losses (as defined in section
4982(e)(5)(B)(ii)) attributable to the portion of the taxable
year after October 31, over
``(ii) the specified gains (as defined in section
4982(e)(5)(B)(i)) attributable to such portion of the taxable
year.
``(F) Post-december ordinary loss.--For purposes of this
paragraph, the term `post-December ordinary loss' means the
excess (if any) of--
``(i) the ordinary losses not described in subparagraph
(E)(i) and attributable to the portion of the taxable year
after December 31, over
``(ii) the ordinary income not described in subparagraph
(E)(ii) and attributable to such portion of the taxable
year.''.
(2) Subparagraph (G) of section 852(b)(8), as so
redesignated, is amended by striking ``, (D)(i)(I), and
(D)(ii)(I)'' and inserting ``and (E)''.
(3) The first sentence of paragraph (2) of section 852(c),
as amended by subsection (a), is amended--
(A) by striking ``, and without regard to'' and inserting
``, without regard to'', and
(B) by inserting ``, and with such other adjustments as the
Secretary may prescribe'' before the period at the end.
(d) Amendments Relating to Section 402.--
(1) Subparagraph (B) of section 4982(e)(6) is amended by
inserting before the period at the end the following: ``or
which determines income by reference to the value of an item
on the last day of the taxable year''.
(2) Subparagraph (A) of section 4982(e)(7) is amended by
striking ``such company'' and all that follows through ``any
net ordinary loss'' and inserting ``such company may elect to
determine its ordinary income and net ordinary loss (as
defined in paragraph (2)(C)(ii)) for the calendar year
without regard to any portion of any net ordinary loss''.
(e) Clerical Amendment Relating to Section 201.--
Subparagraph (A) of section 851(d)(2) is amended by inserting
``of this paragraph'' after ``subparagraph (B)(i)''.
(f) Effective Date.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall take effect as if
included in the provision of the Regulated Investment Company
Modernization Act of 2010 to which they relate.
(2) Savings provision.--In the case of an election by a
regulated investment company under section 852(b)(8) of the
Internal Revenue Code of 1986 with respect to any taxable
year beginning before the date of the enactment of this Act,
such company may treat the amendments made by paragraphs (1)
and (2) of subsection (c) as not applying with respect to any
such election.
SEC. 206. AMENDMENTS RELATING TO TAX RELIEF, UNEMPLOYMENT
INSURANCE REAUTHORIZATION, AND JOB CREATION ACT
OF 2010.
(a) Amendment Relating to Section 103.--Clause (ii) of
section 32(b)(3)(B) is amended by striking ``in 2010'' and
inserting ``after 2009''.
(b) Clerical Amendments Relating to Section 302.--
(1) Paragraph (1) of section 2801(a) is amended by striking
``(or, if greater, the highest rate of tax specified in the
table applicable under section 2502(a) as in effect on the
date)''.
(2) Subsection (f) of section 302 of the Tax Relief,
Unemployment Insurance Reauthorization, and Job Creation Act
of 2010 is amended by striking ``subsection'' and inserting
``section''.
(c) Amendments Relating to Section 753.--Subparagraph (A)
of section 1397B(b)(1) is amended by striking ``and'' at the
end of clause (ii), by striking the period at the end of
clause (iii) and inserting ``, and'', and by adding at the
end the following new clause:
``(iv) the day after the date set forth in section
1391(d)(1)(A)(i) were substituted for `January 1, 2010' each
place it appears.''.
(d) Effective Date.--The amendments made by this section
shall take effect as if
[[Page H8328]]
included in the provisions of the Tax Relief, Unemployment
Insurance Reauthorization, and Job Creation Act of 2010 to
which they relate.
SEC. 207. AMENDMENTS RELATING TO CREATING SMALL BUSINESS JOBS
ACT OF 2010.
(a) Amendments Relating to Section 2102.--
(1) Subsection (h) of section 2102 of the Creating Small
Business Jobs Act of 2010 is amended by inserting ``, and
payee statements required to be furnished,'' after
``information returns required to be filed''.
(2) Paragraphs (1) and (2) of subsection (b), and
subsection (c)(1)(C), of section 6722 are each amended by
striking ``the required filing date'' and inserting ``the
date prescribed for furnishing such statement''.
(3) Subparagraph (B) of section 6722(c)(2) is amended by
striking ``filed'' and inserting ``furnished''.
(b) Effective Date.--The amendments made by this section
shall take effect as if included in the provision of the
Creating Small Business Jobs Act of 2010 to which they
relate.
SEC. 208. CLERICAL AMENDMENT RELATING TO HIRING INCENTIVES TO
RESTORE EMPLOYMENT ACT.
(a) Amendment Relating to Section 512.--Paragraph (1) of
section 512(a) of the Hiring Incentives to Restore Employment
Act is amended by striking ``after paragraph (6)'' and
inserting ``after paragraph (5)''.
(b) Effective Date.--The amendment made by this section
shall take effect as if included in the provision of the
Hiring Incentives to Restore Employment Act to which it
relates.
SEC. 209. AMENDMENTS RELATING TO AMERICAN RECOVERY AND
REINVESTMENT TAX ACT OF 2009.
(a) Amendment Relating to Section 1003.--Paragraph (4) of
section 24(d) is amended to read as follows:
``(4) Special rule for certain years.--In the case of any
taxable year beginning after 2008 and before 2018, paragraph
(1)(B)(i) shall be applied by substituting `$3,000' for
`$10,000'.''.
(b) Amendment Relating to Section 1004.--Paragraph (3) of
section 25A(i) is amended by striking ``Subsection (f)(1)(A)
shall be applied'' and inserting ``For purposes of
determining the Hope Scholarship Credit, subsection (f)(1)(A)
shall be applied''.
(c) Amendments Relating to Section 1008.--
(1) Paragraph (6) of section 164(b) is amended by striking
subparagraph (E) and by redesignating subparagraphs (F) and
(G) as subparagraphs (E) and (F), respectively.
(2) Subparagraphs (E) and (F) of section 164(b)(6), as so
redesignated, are each amended by striking ``This paragraph''
and inserting ``Subsection (a)(6)''.
(d) Amendment Relating to Section 1104.--Subparagraph (A)
of section 48(d)(3) is amended by inserting ``or alternative
minimum taxable income'' after ``includible in the gross
income''.
(e) Amendments Relating to Section 1141.--
(1) Subsection (f) of section 30D is amended--
(A) by inserting ``(determined without regard to subsection
(c))'' before the period at the end of paragraph (1), and
(B) by inserting ``(determined without regard to subsection
(c))'' before the period at the end of paragraph (2).
(2) Paragraph (3) of section 30D(f) is amended by adding at
the end the following: ``For purposes of subsection (c),
property to which this paragraph applies shall be treated as
of a character subject to an allowance for depreciation.''.
(f) Amendments Relating to Section 1142.--
(1) Subsection (b) of section 38 is amended by striking
``plus'' at the end of paragraph (35), by redesignating
paragraph (36) as paragraph (37), and by inserting after
paragraph (35) the following new paragraph:
``(36) the portion of the qualified plug-in electric
vehicle credit to which section 30(c)(1) applies, plus''.
(2)(A) Subsection (e) of section 30 is amended--
(i) by inserting ``(determined without regard to subsection
(c))'' before the period at the end of paragraph (1), and
(ii) by inserting ``(determined without regard to
subsection (c))'' before the period at the end of paragraph
(2).
(B) Paragraph (3) of section 30(e) is amended by adding at
the end the following: ``For purposes of subsection (c),
property to which this paragraph applies shall be treated as
of a character subject to an allowance for depreciation.''.
(g) Amendment Relating to Section 1302.--Paragraph (3) of
section 48C(b) is amended by inserting ``as the qualified
investment'' after ``The amount which is treated''.
(h) Amendments Related to Section 1541.--
(1) Paragraph (2) of section 853A(a) is amended by
inserting ``(determined after the application of this
section)'' before the comma at the end.
(2) Subsection (a) of section 853A is amended--
(A) by striking ``with respect to credits'' and inserting
``with respect to some or all of the credits'', and
(B) by inserting ``(determined without regard to this
section and sections 54(c), 54A(c)(1), 54AA(c)(1), and
1397E(c))'' after ``credits allowable''.
(3) Subsection (b) of section 853A is amended to read as
follows:
``(b) Effect of Election.--If the election provided in
subsection (a) is in effect with respect to any credits for
any taxable year--
``(1) the regulated investment company--
``(A) shall not be allowed such credits,
``(B) shall include in gross income (as interest) for such
taxable year the amount which would have been so included
with respect to such credits had the application of this
section not been elected,
``(C) shall include in earnings and profits the amount so
included in gross income, and
``(D) shall be treated as making one or more distributions
of money with respect to its stock equal to the amount of
such credits on the date or dates (on or after the applicable
date for any such credit) during such taxable year (or
following the close of the taxable year pursuant to section
855) selected by the company, and
``(2) each shareholder of such investment company shall--
``(A) be treated as receiving such shareholder's
proportionate share of any distribution of money which is
treated as made by such investment company under paragraph
(1)(D), and
``(B) be allowed credits against the tax imposed by this
chapter equal to the amount of such distribution, subject to
the provisions of this title applicable to the credit
involved.''.
(4) Subsection (c) of section 853A is amended to read as
follows:
``(c) Notice to Shareholders.--The amount treated as a
distribution of money received by a shareholder under
subsection (b)(2)(A) (and as credits allowed to such
shareholder under subsection (b)(2)(B)) shall not exceed the
amount so reported by the regulated investment company in a
written statement furnished to such shareholder.''.
(5) Clause (ii) of section 853A(e)(1)(A) is amended by
inserting ``other than a qualified bond described in section
54AA(g)'' after ``as defined in section 54AA(d))''.
(i) Amendments Relating to Section 2202.--
(1) Subparagraph (A) of section 2202(b)(1) of division B of
the American Recovery and Reinvestment Act of 2009 is amended
by inserting ``political subdivision of a State,'' after
``any State,''.
(2) Section 2202 of division B of the American Recovery and
Reinvestment Act of 2009 is amended by adding at the end the
following new subsection:
``(e) Treatment of Possessions.--
``(1) Payments to mirror code possessions.--The Secretary
of the Treasury shall pay to each possession of the United
States with a mirror code tax system amounts equal to the
loss to that possession by reason of credits allowed under
subsection (a) with respect to taxable years beginning in
2009. Such amounts shall be determined by the Secretary of
the Treasury based on information provided by the government
of the respective possession.
``(2) Coordination with credit allowed against united
states income taxes.--No credit shall be allowed against
United States income taxes for any taxable year under this
section to any person to whom a credit is allowed against
taxes imposed by the possession by reason of the credit
allowed under subsection (a) for such taxable year.
``(3) Definitions and special rules.--
``(A) Possession of the united states.--For purposes of
this subsection, the term `possession of the United States'
includes the Commonwealth of the Northern Mariana Islands.
``(B) Mirror code tax system.--For purposes of this
subsection, the term `mirror code tax system' means, with
respect to any possession of the United States, the income
tax system of such possession if the income tax liability of
the residents of such possession under such system is
determined by reference to the income tax laws of the United
States as if such possession were the United States.
``(C) Treatment of payments.--For purposes of section
1324(b)(2) of title 31, United States Code, the payments
under this subsection shall be treated in the same manner as
a refund due from the credit allowed under section 36A of the
Internal Revenue Code of 1986 (as added by this Act).''.
(j) Clerical Amendments.--
(1) Amendment relating to section 1131.--Paragraph (2) of
section 45Q(d) is amended by striking ``Administrator of the
Environmental Protection Agency'' and all that follows
through ``shall establish'' and inserting ``Administrator of
the Environmental Protection Agency, the Secretary of Energy,
and the Secretary of the Interior, shall establish''.
(2) Amendment relating to section 1141.--Paragraph (37) of
section 1016(a) is amended by striking ``section 30D(e)(4)''
and inserting ``section 30D(f)(1)''.
(3) Amendment relating to section 3001.--Subparagraph (A)
of section 3001(a)(14) of the American Recovery and
Reinvestment Act of 2009 is amended by striking ``is amended
by redesignating paragraph (9) as paragraph (10)'' and
inserting ``, as amended by this Act, is amended by
redesignating paragraphs (9) and (10) as paragraphs (10) and
(11), respectively,''.
(k) Effective Date.--The amendments made by this section
shall take effect as if included in the provisions of the
American Recovery and Reinvestment Tax Act of 2009 to which
they relate.
[[Page H8329]]
SEC. 210. AMENDMENTS RELATING TO ENERGY IMPROVEMENT AND
EXTENSION ACT OF 2008.
(a) Amendment Relating to Section 108.--Subparagraph (E) of
section 45K(g)(2) is amended to read as follows:
``(E) Coordination with section 45.--No credit shall be
allowed with respect to any coke or coke gas which is
produced using steel industry fuel (as defined in section
45(c)(7)) as feedstock if a credit is allowed to any taxpayer
under section 45 with respect to the production of such steel
industry fuel.''.
(b) Amendment Relating to Section 113.--Paragraph (1) of
section 113(b) of the Energy Improvement and Extension Act of
2008 is amended by adding at the end the following new
subparagraph:
``(F) Trust fund.--The term `Trust Fund' means the Black
Lung Disability Trust Fund established under section 9501 of
the Internal Revenue Code of 1986.''.
(c) Amendments Relating to Section 306.--
(1) Clause (ii) of section 168(i)(18)(A) is amended by
striking ``10 years'' and inserting ``16 years''.
(2) Clause (ii) of section 168(i)(19)(A) is amended by
striking ``10 years'' and inserting ``16 years''.
(d) Amendment Relating to Section 308.--Clause (i) of
section 168(m)(2)(B) is amended by striking ``section
168(k)'' and inserting ``subsection (k) (determined without
regard to paragraph (4) thereof)''.
(e) Amendment Relating to Section 402.--Subparagraph (A) of
section 907(f)(4) is amended by striking ``this subsection
shall be applied'' and all that follows through the period at
the end and inserting the following: ``this subsection, as in
effect on the day before the date of the enactment of the
Energy Improvement and Extension Act of 2008, shall apply to
unused oil and gas extraction taxes carried from such unused
credit year to a taxable year beginning after December 31,
2008.''.
(f) Amendments Relating to Section 403.--
(1) Subsection (c) of section 1012 is amended--
(A) by striking ``funds'' in the heading for paragraph (2)
and inserting ``regulated investment companies'',
(B) by striking ``fund'' in the heading for paragraph
(2)(B), and
(C) by striking ``fund'' each place it appears in paragraph
(2) and inserting ``regulated investment company''.
(2) Paragraph (1) of section 1012(d) is amended--
(A) by striking ``December 31, 2010'' and inserting
``December 31, 2011'', and
(B) by striking ``an open-end fund'' and inserting ``a
regulated investment company''.
(3) Paragraph (3) of section 1012(d) is amended to read as
follows:
``(3) Separate accounts; election for treatment as single
account.--
``(A) In general.--Rules similar to the rules of subsection
(c)(2) shall apply for purposes of this subsection.
``(B) Average basis method.--Notwithstanding paragraph (1),
in the case of an election under rules similar to the rules
of subsection (c)(2)(B) with respect to stock held in
connection with a dividend reinvestment plan, the average
basis method is permissible with respect to all such stock
without regard to the date of the acquisition of such
stock.''.
(4) Subsection (g) of section 6045 is amended by adding at
the end the following new paragraph:
``(6) Special rule for certain stock held in connection
with dividend reinvestment plan.--For purposes of this
subsection, stock acquired before January 1, 2012, in
connection with a dividend reinvestment plan shall be treated
as stock described in clause (ii) of paragraph (3)(C) (unless
the broker with respect to such stock elects not to have this
paragraph apply with respect to such stock).''.
(g) Clerical Amendments.--
(1) Amendment relating to section 108.--Paragraph (2) of
section 45(b) is amended by striking ``$3 amount'' and
inserting ``$2 amount''.
(2) Amendment relating to section 306.--
(A) Paragraph (5) of section 168(b) is amended by striking
``(2)(C)'' and inserting ``(2)(D)''.
(B) The last sentence of section 168(k)(4)(C)(i) is amended
by striking ``(b)(2)(C)'' and inserting ``(b)(2)(D)''.
(h) Effective Date.--The amendments made by this section
shall take effect as if included in the provisions of the
Energy Improvement and Extension Act of 2008 to which they
relate.
SEC. 211. AMENDMENTS RELATING TO TAX EXTENDERS AND
ALTERNATIVE MINIMUM TAX RELIEF ACT OF 2008.
(a) Amendment Relating to Section 208.--Subsection (b) of
section 208 of the Tax Extenders and Alternative Minimum Tax
Relief Act of 2008 is amended to read as follows:
``(b) Effective Date.--
``(1) In general.--The amendment made by subsection (a)
shall take effect on January 1, 2008. Notwithstanding the
preceding sentence, such amendment shall not apply with
respect to the withholding requirement under section 1445 of
the Internal Revenue Code of 1986 for any payment made before
October 4, 2008.
``(2) Amounts withheld on or before date of enactment.--In
the case of a regulated investment company--
``(A) which makes a distribution after December 31, 2007,
and before October 4, 2008, and
``(B) which would (but for the second sentence of paragraph
(1)) have been required to withhold with respect to such
distribution under section 1445 of such Code,
such investment company shall not be liable to any person to
whom such distribution was made for any amount so withheld
and paid over to the Secretary of the Treasury.''.
(b) Amendments Relating to Section 305.--Paragraphs (7)(B)
and (8)(D) of section 168(e) are each amended by inserting
``which is not qualified leasehold improvement property''
after ``Property described in this paragraph''.
(c) Clerical Amendments.--
(1) Amendments relating to section 706.--
(A) Paragraph (2) of section 1033(h) is amended by
inserting ``is'' before ``compulsorily''.
(B) Subclause (II) of section 172(b)(1)(F)(ii) is amended
by striking ``subsection (h)(3)(C)(i)'' and inserting
``section 165(h)(3)(C)(i)''.
(C) The heading for paragraph (1) of section 165(h) is
amended by striking ``$100'' and inserting ``Dollar''.
(2) Amendment relating to section 709.--Subsection (k) of
section 143 is amended by redesignating the second paragraph
(12) (relating to special rules for residences destroyed in
Federally declared disasters) as paragraph (13).
(3) Amendment relating to section 712.--Section 712 of the
Tax Extenders and Alternative Minimum Tax Relief Act of 2008
is amended by striking ``section 702(c)(1)(A)'' and inserting
``section 702(b)(1)(A)''.
(d) Effective Date.--The amendments made by this section
shall take effect as if included in the provisions of the Tax
Extenders and Alternative Minimum Tax Relief Act of 2008 to
which they relate.
SEC. 212. CLERICAL AMENDMENTS RELATING TO HOUSING ASSISTANCE
TAX ACT OF 2008.
(a) Amendment Relating to Section 3002.--Paragraph (1) of
section 42(b) is amended by striking ``For purposes of this
section, the term'' and inserting the following: ``For
purposes of this section--
``(A) In general.--The term''.
(b) Amendment Relating to Section 3081.--Clause (iv) of
section 168(k)(4)(E) is amended by striking ``adjusted
minimum tax'' and inserting ``adjusted net minimum tax''.
(c) Amendment Relating to Section 3092.--Subsection (b) of
section 121 is amended by redesignating the second paragraph
(4) (relating to exclusion of gain allocated to nonqualified
use) as paragraph (5).
(d) Effective Date.--The amendments made by this section
shall take effect as if included in the provisions of the
Housing Assistance Tax Act of 2008 to which they relate.
SEC. 213. AMENDMENTS AND PROVISION RELATING TO HEROES
EARNINGS ASSISTANCE AND RELIEF TAX ACT OF 2008.
(a) Amendment Relating to Section 106.--Paragraph (2) of
section 106(c) of the Heroes Earnings Assistance and Relief
Tax Act of 2008 is amended by striking ``substituting for''
and inserting ``substituting `June 17, 2008' for''.
(b) Amendment Relating to Section 114.--Paragraph (1) of
section 125(h) is amended by inserting ``(and shall not fail
to be treated as an accident or health plan)'' before
``merely''.
(c) Clerical Amendments.--
(1) Amendment relating to section 110.--Subparagraph (B) of
section 121(d)(12) is amended by inserting ``of paragraph
(9)'' after ``and (D)''.
(2) Amendment relating to section 301.--Paragraph (2) of
section 877(e) is amended by striking ``subparagraph (A) or
(B) of''.
(d) Effective Date.--The amendments made by this section
shall take effect as if included in the provisions of the
Heroes Earnings Assistance and Relief Tax Act of 2008 to
which they relate.
SEC. 214. AMENDMENTS RELATING TO ECONOMIC STIMULUS ACT OF
2008.
(a) Amendments Relating to Section 101.--Paragraph (2) of
section 6213(g) is amended--
(1) by striking ``32, or 6428'' in subparagraph (L) and
inserting ``or 32'', and
(2) by striking ``and'' at the end of subparagraph (O), by
striking the period at the end of subparagraph (P) and
inserting ``, and'', and by inserting after subparagraph (P)
the following new subparagraph:
``(Q) an omission of a correct valid identification number
required under section 6428(h) (relating to 2008 recovery
rebates for individuals) to be included on a return.''.
(b) Clerical Amendment Relating to Section 103.--Subclause
(IV) of section 168(k)(2)(B)(i) is amended by striking
``clauses also apply'' and inserting ``clause also applies''.
(c) Effective Date.--The amendments made by this section
shall take effect as if included in the provisions of the
Economic Stimulus Act of 2008 to which they relate.
SEC. 215. AMENDMENTS RELATING TO TAX TECHNICAL CORRECTIONS
ACT OF 2007.
(a) Amendment Relating to Section 4(c).--Paragraph (1) of
section 911(f) is amended by adding at the end the following
flush sentence:
``For purposes of this paragraph, the amount excluded under
subsection (a) shall be reduced by the aggregate amount of
any deductions or exclusions disallowed under subsection
(d)(6) with respect to such excluded amount.''.
(b) Clerical Amendment Relating to Section 11(g).--Clause
(iv) of section 56(g)(4)(C)
[[Page H8330]]
is amended by striking ``a cooperative described in section
927(a)(4)'' and inserting ``an organization to which part I
of subchapter T (relating to tax treatment of cooperatives)
applies which is engaged in the marketing of agricultural or
horticultural products''.
(c) Effective Date.--The amendments made by this section
shall take effect as if included in the provisions of the Tax
Technical Corrections Act of 2007 to which they relate.
SEC. 216. AMENDMENT RELATING TO TAX RELIEF AND HEALTH CARE
ACT OF 2006.
(a) Amendment Relating to Section 105.--Subparagraph (B) of
section 45A(b)(1) is amended by adding at the end the
following: ``If any portion of wages are taken into account
under subsection (e)(1)(A) of section 51, the preceding
sentence shall be applied by substituting `2-year period' for
`1-year period'.''.
(b) Effective Date.--The amendment made by this section
shall take effect as if included in the provision of the Tax
Relief and Health Care Act of 2006 to which it relates.
SEC. 217. AMENDMENT RELATING TO SAFE, ACCOUNTABLE, FLEXIBLE,
EFFICIENT TRANSPORTATION EQUITY ACT OF 2005: A
LEGACY FOR USERS.
(a) Amendment Relating to Section 11161.--Paragraph (1) of
section 9503(b) is amended by inserting before the period at
the end the following: ``and taxes received under section
4081 shall be determined without regard to tax receipts
attributable to the rate specified in section
4081(a)(2)(C)''.
(b) Effective Date.--The amendment made by this section
shall take effect as if included in the provision of the
Safe, Accountable, Flexible, Efficient Transportation Equity
Act of 2005: A Legacy for Users to which it relates.
SEC. 218. AMENDMENTS RELATING TO ENERGY TAX INCENTIVES ACT OF
2005.
(a) Amendment Relating to Section 1341.--Subparagraph (B)
of section 30B(h)(5) is amended by inserting ``(determined
without regard to subsection (g))'' before the period at the
end.
(b) Amendment Relating to Section 1342.--Paragraph (1) of
section 30C(e) is amended to read as follows:
``(1) Reduction in basis.--For purposes of this subtitle,
the basis of any property for which a credit is allowable
under subsection (a) shall be reduced by the amount of such
credit so allowed (determined without regard to subsection
(d)).''.
(c) Effective Date.--The amendments made by this section
shall take effect as if included in the provision of the
Energy Tax Incentives Act of 2005 to which it relates.
SEC. 219. AMENDMENTS RELATING TO AMERICAN JOBS CREATION ACT
OF 2004.
(a) Amendment Relating to Section 101.--Subsection (d) of
section 101 of the American Jobs Creation Act of 2004 is
amended by adding at the end the following new paragraph:
``(3) Coordination with section 199.--This subsection shall
be applied without regard to any deduction allowable under
section 199.''.
(b) Amendments Relating to Section 102.--Paragraph (3) of
section 199(b) is amended--
(1) by inserting ``of a short taxable year or'' after ``in
cases'', and
(2) by striking ``and dispositions'' and inserting ``,
dispositions, and short taxable years''.
(c) Clerical Amendment Relating to Section 413.--Paragraph
(7) of section 904(h) is amended by striking ``as ordinary
income under section 1246 or''.
(d) Effective Date.--The amendments made by this section
shall take effect as if included in the provision of the
American Jobs Creation Act of 2004 to which they relate.
SEC. 220. OTHER CLERICAL CORRECTIONS.
(a) Paragraph (8) of section 30B(h) is amended by striking
``vehicle)., except that'' and inserting ``vehicle), except
that''.
(b) Subparagraph (A) of section 38(c)(2) is amended by
striking ``credit credit'' and inserting ``credit''.
(c) Section 46 is amended by adding a comma at the end of
paragraph (4).
(d) Subparagraph (E) of section 50(a)(2) is amended by
inserting ``, 48A(b)(3), 48B(b)(3), 48C(b)(2), or 48D(b)(4)''
after ``in section 48(b)''.
(e) Clause (i) of section 54A(d)(2)(A) is amended by
striking ``100 percent or more'' and inserting ``100
percent''.
(f) Paragraph (2) of section 125(b) is amended by striking
``statutory nontaxable benefits'' each place it appears and
inserting ``qualified benefits''.
(g) Paragraph (2) of section 125(h) is amended by striking
``means, any'' and inserting ``means any''.
(h) Subparagraph (F) of section 163(h)(4) is amended by
striking ``Veterans Administration or the Rural Housing
Administration'' and inserting ``Department of Veterans
Affairs or the Rural Housing Service''.
(i) Subsection (a) of section 249 is amended by striking
``1563(a)(1)'' and inserting ``1563(a)(1))''.
(j) Paragraphs (8) and (10) of section 280F(d) are each
amended by striking ``subsection (a)(2)'' and inserting
``subsection (a)(1)''.
(k) Clause (iii) of section 402A(c)(4)(E) is amended by
striking ``403(b)(7)(A)(i)'' and inserting
``403(b)(7)(A)(ii)''.
(l) Section 527 is amended--
(1) by striking ``(2 U.S.C. 432(e))'' in subsection
(h)(2)(A)(i) and inserting ``(52 U.S.C. 30102(e))'', and
(2) by striking ``(2 U.S.C. 431 et seq.)'' in subsections
(i)(6) and (j)(5)(A) and inserting ``(52 U.S.C. 30101 et
seq.)''.
(m) Subsection (b) of section 858 is amended by striking
``857(b)(8)'' and inserting ``857(b)(9)''.
(n) Subparagraph (A) of section 1012(c)(2) is amended by
striking ``section 1012'' and inserting ``this section''.
(o) The heading for section 1394(f) is amended by striking
``Designated Under Section 1391(g)''.
(p) Paragraphs (1) and (2)(A) of section 1394(f) are each
amended by striking ``a new empowerment zone facility bond''
and inserting ``an empowerment zone facility bond''.
(q) Clause (i) of section 1400N(c)(3)(A) is amended by
striking ``section 42(d)(5)(C)(iii)'' and inserting ``section
42(d)(5)(B)(iii)''.
(r) Subsections (e)(3)(B) and (f)(7)(B) of section 4943 are
each amended by striking ``January 1, 1970'' and inserting
``January 1, 1971''.
(s) Paragraph (2) of section 4982(f) is amended by adding a
comma at the end.
(t) Paragraph (3) of section 6011(e) is amended by striking
``shall require than'' and inserting ``shall require that''.
(u) Subsection (b) of section 6072 is amended by striking
``6011(e)(2)'' and inserting ``6011(c)(2)''.
(v) Subsection (d) of section 6104 is amended by
redesignating the second paragraph (6) (relating to
disclosure of reports by the Internal Revenue Service) and
third paragraph (6) (relating to application to nonexempt
charitable trusts and nonexempt private foundations) as
paragraphs (7) and (8), respectively.
(w) Subsection (c) of section 6662A is amended by striking
``section 6664(d)(2)(A)'' and inserting ``section
6664(d)(3)(A)''.
(x) Subparagraph (FF) of section 6724(d)(2) is amended by
striking ``section 6050W(c)'' and inserting ``section
6050W(f)''.
(y) Section 7122 is amended by redesignating the second
subsection (f) (relating to frivolous submissions, etc.) as
subsection (g).
(z) Subsection (a) of section 9035 is amended by striking
``section 320(b)(1)(A)'' and inserting ``section
315(b)(1)(A)''.
(aa) Section 9802 is amended by redesignating the second
subsection (f) (relating to genetic information of a fetus or
embryo) as subsection (g).
(bb) Paragraph (3) of section 13(e) of the Worker,
Homeownership, and Business Assistance Act of 2009 is amended
by striking ``subsection (d)'' and inserting ``subsection
(c)''.
SEC. 221. DEADWOOD PROVISIONS.
(a) In General.--
(1) Adjustments in tax tables so that inflation will not
result in tax increases.--Paragraph (7) of section 1(f) is
amended to read as follows:
``(7) Special rule for certain brackets.--In prescribing
tables under paragraph (1) which apply to taxable years
beginning in a calendar year after 1994, the cost-of-living
adjustment used in making adjustments to the dollar amounts
at which the 36 percent rate bracket begins or at which the
39.6 percent rate bracket begins shall be determined under
paragraph (3) by substituting `1993' for `1992'.''.
(2) Certain plug-in electric vehicles.--
(A) Subpart B of part IV of subchapter A of chapter 1 is
amended by striking section 30 (and by striking the item
relating to such section in the table of sections for such
subpart).
(B) Subsection (b) of section 38, as amended by section
209(f)(1) of this Act, is amended by inserting ``plus'' at
the end of paragraph (35), by striking paragraph (36), and by
redesignating paragraph (37) as paragraph (36).
(C) Subclause (VI) of section 48C(c)(1)(A)(i) is amended by
striking ``, qualified plug-in electric vehicles (as defined
by section 30(d)),''.
(D) Section 1016(a) is amended by striking paragraph (25).
(E) Section 6501(m) is amended by striking ``section
30(e)(6),''.
(3) Earned income credit.--
(A) Paragraph (1) of section 32(b) is amended--
(i) by striking subparagraphs (B) and (C), and
(ii) by striking ``(A) In General.--In the case of taxable
years beginning after 1995:'' in subparagraph (A) and moving
the table 2 ems to the left.
(B) Subparagraph (B) of section 32(b)(2) is amended by
striking ``increased by'' and all that follows and inserting
``increased by $3,000.''.
(4) First-time homebuyer credit.--Section 6213(g)(2), as
amended by section 214(a)(2) of this Act, is amended by
striking subparagraph (P).
(5) Making work pay credit.--
(A) Subpart C of part IV of subchapter A of chapter 1 is
amended by striking section 36A (and by striking the item
relating to such section in the table of sections for such
subpart).
(B) Subparagraph (A) of section 6211(b)(4) is amended by
striking ``, 36A''.
(C) Section 6213(g)(2) is amended by striking subparagraph
(N).
(6) General business credits.--Subsection (d) of section 38
is amended by striking paragraph (3).
(7) Low-income housing credit.--Subclause (I) of section
42(h)(3)(C)(ii) is amended by striking ``($1.50 for 2001)''.
(8) Minimum tax credit.--
(A)(i) Section 53 is amended by striking subsections (e)
and (f).
[[Page H8331]]
(ii) The amendment made by clause (i) striking subsection
(f) of section 53 of the Internal Revenue Code of 1986 shall
not be construed to allow any tax abated by reason of section
53(f)(1) of such Code (as in effect before such amendment) to
be included in the amount determined under section 53(b)(1)
of such Code.
(B) Paragraph (4) of section 6211(b)(4) is amended by
striking ``, 53(e)''.
(9) Adjustments based on adjusted current earnings.--Clause
(ii) of section 56(g)(4)(F) is amended by striking ``In the
case of any taxable year beginning after December 31, 1992,
clause'' and inserting ``Clause''.
(10) Items of tax preference; depletion.--Paragraph (1) of
section 57(a) is amended by striking ``Effective with respect
to taxable years beginning after December 31, 1992, this''
and inserting ``This''.
(11) Intangible drilling costs.--
(A) Clause (i) of section 57(a)(2)(E) is amended by
striking ``In the case of any taxable year beginning after
December 31, 1992, this'' and inserting ``This''.
(B) Clause (ii) of section 57(a)(2)(E) is amended by
striking ``(30 percent in case of taxable years beginning in
1993)''.
(12) Environmental tax.--
(A) Subchapter A of chapter 1 is amended by striking part
VII (and by striking the item relating to such part in the
table of parts for such subchapter).
(B) Paragraph (2) of section 26(b) is amended by striking
subparagraph (B).
(C) Section 30A(c) is amended by striking paragraph (1) and
by redesignating paragraphs (2), (3), and (4) as paragraphs
(1), (2), and (3), respectively.
(D) Subsection (a) of section 164 is amended by striking
paragraph (5).
(E) Section 275(a) is amended by striking the last
sentence.
(F) Section 882(a)(1) is amended by striking ``, 59A''.
(G) Section 936(a)(3) is amended by striking subparagraph
(A) and by redesignating subparagraphs (B), (C), and (D) as
subparagraphs (A), (B), and (C), respectively.
(H) Section 1561(a) is amended--
(i) by inserting ``and'' at the end of paragraph (2), by
striking ``, and'' at the end of paragraph (3) and inserting
a period, and by striking paragraph (4), and
(ii) by striking ``, the amount specified in paragraph (3),
and the amount specified in paragraph (4)'' and inserting
``and the amount specified in paragraph (3)''.
(I) Section 4611(e) is amended--
(i) by striking ``section 59A, this section,'' in paragraph
(2)(B) and inserting ``this section'', and
(ii) in paragraph (3)(A)--
(I) by striking ``section 59A,'', and
(II) by striking the comma after ``rate)''.
(J) Section 6425(c)(1)(A) is amended by inserting ``plus''
at end of clause (i), by striking ``plus'' and inserting
``over'' at the end of clause (ii), and by striking clause
(iii).
(K) Section 6655 is amended--
(i) in subsections (e)(2)(A)(i) and (e)(2)(B)(i), by
striking ``taxable income, alternative minimum taxable
income, and modified alternative minimum taxable income'' and
inserting ``taxable income and alternative minimum taxable
income'',
(ii) in subsection (e)(2)(B), by striking clause (iii), and
(iii) in subsection (g)(1)(A), by inserting ``plus'' at the
end of clause (ii), by striking clause (iii), and by
redesignating clause (iv) as clause (iii).
(L) Section 9507(b)(1) is amended by striking ``59A,''.
(13) Standard deduction.--
(A) So much of paragraph (1) of section 63(c) as follows
``the sum of--'' is amended to read as follows:
``(A) the basic standard deduction, and
``(B) the additional standard deduction.''.
(B) Subsection (c) of section 63 is amended by striking
paragraphs (7), (8), and (9).
(14) Annuities; certain proceeds of endowment and life
insurance contracts.--Section 72 is amended--
(A) in subsection (c)(4), by striking ``; except that if
such date was before January 1, 1954, then the annuity
starting date is January 1, 1954'', and
(B) in subsection (g)(3), by striking ``January 1, 1954,
or'' and ``, whichever is later''.
(15) Unemployment compensation.--Section 85 is amended by
striking subsection (c).
(16) Accident and health plans.--Section 105(f) is amended
by striking ``or (d)''.
(17) Flexible spending arrangements.--Section 106(c)(1) is
amended by striking ``Effective on and after January 1, 1997,
gross'' and inserting ``Gross''.
(18) Certain combat zone compensation of members of the
armed forces.--Subsection (c) of section 112 is amended--
(A) by striking ``(after June 24, 1950)'' in paragraph (2),
and
(B) by striking ``such zone;'' and all that follows in
paragraph (3) and inserting ``such zone.''.
(19) Legal service plans.--
(A) Part III of subchapter B of chapter 1 is amended by
striking section 120 (and by striking the item relating to
such section in the table of sections for such subpart).
(B)(i) Section 414(n)(3)(C) is amended by striking
``120,''.
(ii) Section 414(t)(2) is amended by striking ``120,''.
(iii) Section 501(c) is amended by striking paragraph (20).
(iv) Section 3121(a) is amended by striking paragraph (17).
(v) Section 3231(e) is amended by striking paragraph (7).
(vi) Section 3306(b) is amended by striking paragraph (12).
(vii) Section 6039D(d)(1) is amended by striking ``120,''.
(viii) Section 209(a)(14) of the Social Security Act is
amended--
(I) by striking subparagraph (B), and
(II) by striking ``(14)(A)'' and inserting ``(14)''.
(20) Principal residence.--Section 121(b)(3) is amended--
(A) by striking subparagraph (B), and
(B) in subparagraph (A), by striking ``(A) In general.--''
and moving the text 2 ems to the left.
(21) Certain reduced uniformed services retirement pay.--
Section 122(b)(1) is amended by striking ``after December 31,
1965,''.
(22) Great plains conservation program.--Section 126(a) is
amended by striking paragraph (6) and by redesignating
paragraphs (7), (8), (9), and (10) as paragraphs (6), (7),
(8), and (9), respectively.
(23) Treble damage payments under the antitrust law.--
Section 162(g) is amended by striking the last sentence.
(24) State legislators' travel expenses away from home.--
Paragraph (4) of section 162(h) is amended by striking ``For
taxable years beginning after December 31, 1980, this'' and
inserting ``This''.
(25) Interest.--
(A) Section 163 is amended--
(i) by striking paragraph (6) of subsection (d), and
(ii) by striking paragraph (5) of subsection (h).
(B) Section 56(b)(1)(C) is amended by striking clause (ii)
and by redesignating clauses (iii), (iv), and (v) as clauses
(ii), (iii), and (iv), respectively.
(26) Qualified motor vehicle taxes.--Section 164, as
amended by section 209(c) of this Act, is amended by striking
subsections (a)(6) and (b)(6).
(27) Disaster losses.--
(A) Subsection (h) of section 165 is amended by striking
paragraph (3) and by redesignating paragraphs (4) and (5) as
paragraphs (3) and (4), respectively.
(B) Paragraph (3) of section 165(h), as so redesignated, is
amended by striking ``paragraphs (2) and (3)'' and inserting
``paragraph (2)''.
(C) Subsection (i) of section 165 is amended--
(i) in paragraph (1)--
(I) by striking ``(as defined by clause (ii) of subsection
(h)(3)(C))'', and
(II) by striking ``(as defined by clause (i) of such
subsection)'',
(ii) by striking ``(as defined by subsection (h)(3)(C)(i)''
in paragraph (4), and
(iii) by adding at the end the following new paragraph:
``(5) Federally declared disasters.--For purposes of this
subsection--
``(A) In general.--The term `Federally declared disaster'
means any disaster subsequently determined by the President
of the United States to warrant assistance by the Federal
Government under the Robert T. Stafford Disaster Relief and
Emergency Assistance Act.
``(B) Disaster area.--The term `disaster area' means the
area so determined to warrant such assistance.''.
(D) Section 1033(h)(3) is amended by striking ``section
165(h)(3)(C)'' and inserting ``section 165(i)(5)''.
(28) Charitable, etc., contributions and gifts.--Section
170 is amended--
(A) by striking paragraph (3) of subsection (b),
(B) by striking paragraph (6) of subsection (e), and
(C) by striking subsection (k).
(29) Amortizable bond premium.--
(A) Subparagraph (B) of section 171(b)(1) is amended to
read as follows:
``(B)(i) with reference to the amount payable on maturity
(or if it results in a smaller amortizable bond premium
attributable to the period before the call date, with
reference to the amount payable on the earlier call date), in
the case of a bond described in subsection (a)(1), and
``(ii) with reference to the amount payable on maturity or
on an earlier call date, in the case of a bond described in
subsection (a)(2).''.
(B) Paragraphs (2) and (3)(B) of section 171(b) are each
amended by striking ``paragraph (1)(B)(ii)'' and inserting
``paragraph (1)(B)(i)''.
(30) Net operating loss carrybacks, carryovers, and
carryforwards.--
(A) Section 172, as amended by section 211(c)(1)(B) of this
Act, is amended--
(i) by striking subparagraphs (D), (H), (I), and (J) of
subsection (b)(1) and by redesignating subparagraphs (E),
(F), and (G) as subparagraphs (D), (E), and (F),
respectively, and
(ii) by striking subsections (g) and (j) and by
redesignating subsections (h), (i), and (k) as subsections
(g), (h), and (i), respectively.
(B) Each of the following provisions of section 172 (as
amended by section 211(c)(1)(B) of this Act and as
redesignated by subparagraph (A)) are amended as follows:
(i) By striking ``ending after August 2, 1989'' in
subsection (b)(1)(D)(i)(II).
(ii) By striking ``subsection (h)'' in subsection
(b)(1)(D)(ii) and inserting ``subsection (g)''.
(iii) By striking ``section 165(h)(3)(C)(i)'' in subsection
(b)(1)(E)(ii)(II) and inserting ``section 165(i)(5)''.
[[Page H8332]]
(iv) By striking ``subsection (i)'' and all that follows in
the last sentence of subsection (b)(1)(E)(ii) and inserting
``subsection (h)).''.
(v) By striking ``subsection (i)'' in subsection (b)(1)(F)
and inserting ``subsection (h)''.
(vi) By striking subparagraph (F) of paragraph (2) of
subsection (g).
(vii) By striking ``subsection (b)(1)(E)'' each place it
appears in subsection (g)(4) and inserting ``subsection
(b)(1)(D)''.
(viii) By striking the last sentence of subsection (h)(1).
(ix) By striking ``subsection (b)(1)(G)'' each place it
appears in subsection (h)(3) and inserting ``subsection
(b)(1)(F)''.
(C) Subsection (d) of section 56 is amended by striking
paragraph (3).
(D) Paragraph (5) of section 382(l) is amended by striking
subparagraph (F) and by redesignating subparagraphs (G) and
(H) as subparagraphs (F) and (G), respectively.
(31) Research and experimental expenditures.--Subparagraph
(A) of section 174(a)(2) is amended to read as follows:
``(A) Without consent.--A taxpayer may, without the consent
of the Secretary, adopt the method provided in this
subsection for his first taxable year for which expenditures
described in paragraph (1) are paid or incurred.''.
(32) Amortization of certain research and experimental
expenditures.--Paragraph (2) of section 174(b) is amended by
striking ``beginning after December 31, 1953''.
(33) Soil and water conservation expenditures.--Paragraph
(1) of section 175(d) is amended to read as follows:
``(1) Without consent.--A taxpayer may, without the consent
of the Secretary, adopt the method provided in this section
for the taxpayer's first taxable year for which expenditures
described in subsection (a) are paid or incurred.''.
(34) Clean-fuel vehicles.--
(A) Part VI of subchapter A of chapter 1 is amended by
striking section 179A (and by striking the item relating to
such section in the table of sections for such part).
(B) Section 30C(e) is amended by adding at the end the
following:
``(7) Reference.--For purposes of this section, any
reference to section 179A shall be treated as a reference to
such section as in effect immediately before its repeal.''.
(C) Section 62(a) is amended by striking paragraph (14).
(D) Section 263(a)(1) is amended by striking subparagraph
(H).
(E) Section 280F(a)(1) is amended by striking subparagraph
(C).
(F) Section 312(k)(3) is amended by striking ``179A,'' each
place it appears.
(G) Section 1016(a) is amended by striking paragraph (24).
(H) Section 1245(a) is amended by striking ``179A,'' each
place it appears in paragraphs (2)(C) and (3)(C).
(35) Qualified disaster expenses.--Part VI of subchapter A
of chapter 1 is amended by striking section 198A (and by
striking the item relating to such section in the table of
sections for such part).
(36) Activities not engaged in for profit.--Section
183(e)(1) is amended by striking the last sentence.
(37) Domestic production activities.--
(A) Subsection (a) of section 199 is amended--
(i) by striking paragraph (2),
(ii) by redesignating subparagraphs (A) and (B) of
paragraph (1) as paragraphs (1) and (2), respectively, and by
moving paragraphs (1) and (2) (as so redesignated) 2 ems to
the left, and
(iii) by striking ``Allowance of Deduction.--'' and all
that follows through ``There shall be allowed'' and inserting
the following:
``(a) Allowance of Deduction.--There shall be allowed''.
(B) Paragraphs (2) and (6)(B) of section 199(d) are each
amended by striking ``(a)(1)(B)'' and inserting ``(a)(2)''.
(38) Retirement savings.--
(A) Subparagraph (A) of section 219(b)(5) is amended to
read as follows:
``(A) In general.--The deductible amount is $5,000.''.
(B) Clause (ii) of section 219(b)(5)(B) is amended to read
as follows:
``(ii) Applicable amount.--For purposes of clause (i), the
applicable amount is $1,000.''.
(C) Paragraph (5) of section 219(b) is amended by striking
subparagraph (C) and by redesignating subparagraph (D) as
subparagraph (C).
(D) Clause (ii) of section 219(g)(2)(A) is amended by
striking ``for a taxable year beginning after December 31,
2006''.
(E) Section 219(g)(3)(B) is amended by striking clauses (i)
and (ii) and inserting the following:
``(i) In the case of a taxpayer filing a joint return,
$80,000.
``(ii) In the case of any other taxpayer (other than a
married individual filing a separate return), $50,000.''.
(F) Paragraph (8) of section 219(g) is amended by striking
``the dollar amount in the last row of the table contained in
paragraph (3)(B)(i), the dollar amount in the last row of the
table contained in paragraph (3)(B)(ii), and the dollar
amount contained in paragraph (7)(A),'' and inserting ``each
of the dollar amounts in paragraphs (3)(B)(i), (3)(B)(ii),
and (7)(A)''.
(39) Reports regarding qualified voluntary retirement
contributions.--
(A) Section 219 is amended by striking paragraph (4) of
subsection (f) and subsection (h).
(B) Section 6652 is amended by striking subsection (g).
(40) Interest on education loans.--Paragraph (1) of section
221(b) is amended by striking ``shall not exceed'' and all
that follows and inserting ``shall not exceed $2,500.''.
(41) Dividends received on certain preferred stock; and
dividends paid on certain preferred stock of public
utilities.--
(A) Sections 244 and 247 are hereby repealed, and the table
of sections for part VIII of subchapter B of chapter 1 is
amended by striking the items relating to sections 244 and
247.
(B) Paragraph (5) of section 172(d) is amended to read as
follows:
``(5) Computation of deduction for dividends received.--The
deductions allowed by section 243 (relating to dividends
received by corporations) and 245 (relating to dividends
received from certain foreign corporations) shall be computed
without regard to section 246(b) (relating to limitation on
aggregate amount of deductions).''.
(C) Paragraph (1) of section 243(c) is amended to read as
follows:
``(1) In general.--In the case of any dividend received
from a 20-percent owned corporation, subsection (a)(1) shall
be applied by substituting `80 percent' for `70 percent'.''.
(D) Section 243(d) is amended by striking paragraph (4).
(E) Section 246 is amended--
(i) by striking ``, 244,'' in subsection (a)(1),
(ii) in subsection (b)(1)--
(I) by striking ``sections 243(a)(1), 244(a),'' and
inserting ``section 243(a)(1)'',
(II) by striking ``244(a),'' the second place it appears,
and
(III) by striking ``subsection (a) or (b) of section 245,
and 247,'' and inserting ``and subsection (a) or (b) of
section 245,'', and
(iii) by striking ``, 244,'' in subsection (c)(1).
(F) Section 246A is amended by striking ``, 244,'' both
places it appears in subsections (a) and (e).
(G) Sections 263(g)(2)(B)(iii), 277(a), 301(e)(2),
469(e)(4), 512(a)(3)(A), subparagraphs (A), (C), and (D) of
section 805(a)(4), 805(b)(5), 812(e)(2)(A),
815(c)(2)(A)(iii), 832(b)(5), 833(b)(3)(E), and 1059(b)(2)(B)
are each amended by striking ``, 244,'' each place it
appears.
(H) Section 1244(c)(2)(C) is amended by striking ``244,''.
(I) Section 805(a)(4)(B) is amended by striking ``,
244(a),'' each place it appears.
(J) Section 810(c)(2)(B) is amended by striking ``244
(relating to dividends on certain preferred stock of public
utilities),''.
(K) The amendments made by this paragraph shall not apply
to preferred stock issued before October 1, 1942 (determined
in the same manner as under section 247 of the Internal
Revenue Code of 1986 as in effect before its repeal by such
amendments).
(42) Organization expenses.--Section 248(c) is amended by
striking ``beginning after December 31, 1953,'' and by
striking the last sentence.
(43) Bond repurchase premium.--Section 249(b)(1) is amended
by striking ``, in the case of bonds or other evidences of
indebtedness issued after February 28, 1913,''.
(44) Amount of gain where loss previously disallowed.--
Section 267(d) is amended by striking ``(or by reason of
section 24(b) of the Internal Revenue Code of 1939)'' in
paragraph (1), by striking ``after December 31, 1953,'' in
paragraph (2), by striking the second sentence, and by
striking ``or by reason of section 118 of the Internal
Revenue Code of 1939'' in the last sentence.
(45) Acquisitions made to evade or avoid income tax.--
Paragraphs (1) and (2) of section 269(a) are each amended by
striking ``or acquired on or after October 8, 1940,''.
(46) Meals and entertainment.--Paragraph (3) of section
274(n) is amended--
(A) by striking ``(A) In general.--'',
(B) by striking ``substituting `the applicable percentage'
for'' and inserting ``substituting `80 percent' for'', and
(C) by striking subparagraph (B).
(47) Interest on indebtedness incurred by corporations to
acquire stock or assets of another corporation.--
(A) Section 279 is amended--
(i) by striking ``after December 31, 1967,'' in subsection
(a)(2),
(ii) by striking ``after October 9, 1969,'' in subsection
(b),
(iii) by striking ``after October 9, 1969, and'' in
subsection (d)(5), and
(iv) by striking subsection (i) and redesignating
subsection (j) as subsection (i).
(B) The amendments made by this paragraph shall not--
(i) apply to obligations issued on or before October 9,
1969 (determined in the same manner as under section 279 of
the Internal Revenue Code of 1986 as in effect before such
amendments), and
(ii) be construed to require interest on obligations issued
on or before December 31, 1967, to be taken into account
under section 279(a)(2) of such Code (as in effect after such
amendments).
(48) Bank holding companies.--
(A) Clause (iii) of section 304(b)(3)(D) is repealed.
(B) The heading of subparagraph (D) of section 304(b)(3) is
amended by striking ``and special rule''.
(49) Effect on earnings and profits.--Subsection (d) of
section 312 is amended by striking paragraph (2) and
redesignating paragraph (3) as paragraph (2).
(50) Disqualified stock.--Paragraph (3) of section 355(d)
is amended by striking ``after October 9, 1990, and'' each
place it appears.
[[Page H8333]]
(51) Basis to corporations.--Section 362 is amended by
striking ``on or after June 22, 1954'' in subsection (a) and
by striking ``, on or after June 22, 1954,'' each place it
appears in subsection (c).
(52) Temporary waiver of minimum required distribution.--
Section 401(a)(9) is amended by striking subparagraph (H).
(53) Individual retirement accounts.--Clause (i) of section
408(p)(2)(E) is amended to read as follows:
``(i) In general.--For purposes of subparagraph (A)(ii),
the applicable amount is $10,000.''.
(54) Tax credit employee stock ownership plans.--Section
409 is amended by striking subsection (q).
(55) Catch-up contributions.--Clauses (i) and (ii) of
section 414(v)(2)(B) are amended to read as follows:
``(i) In the case of an applicable employer plan other than
a plan described in section 401(k)(11) or 408(p), the
applicable dollar amount is $5,000.
``(ii) In the case of an applicable employer plan described
in section 401(k)(11) or 408(p), the applicable dollar amount
is $2,500.''.
(56) Employee stock purchase plans.--Section 423(a) is
amended by striking ``after December 31, 1963,''.
(57) Pension related transition rules.--
(A) Section 402(g)(1)(B) is amended by striking ``shall
be'' and all that follows and inserting ``is $15,000.''.
(B)(i) Subparagraph (D) of section 417(e)(3) is amended--
(I) by striking clauses (ii) and (iii),
(II) by striking ``if--'' and all that follows through
``section 430(h)(2)(D)'' and inserting ``if section
430(h)(2)(D)'', and
(III) by striking ``described in such section,'' and
inserting ``described in such section.''.
(ii) Clause (iii) of section 205(g)(3)(B) of the Employee
Retirement Income Security Act of 1974 (29 U.S.C.
1055(g)(3)(B)) is amended--
(I) by striking subclauses (II) and (III),
(II) by striking ``if--'' and all that follows through
``section 303(h)(2)(D)'' and inserting ``if section
303(h)(2)(D)'', and
(III) by striking ``described in such section,'' and
inserting ``described in such section.''.
(C)(i) Paragraph (5) of section 430(c) is amended by
striking subparagraph (B) and by striking ``(A) In general.--
''.
(ii) Paragraph (5) of section 303(c) of the Employee
Retirement Income Security Act of 1974 (29 U.S.C. 1083(c)) is
amended by striking subparagraph (B) and by striking ``(A) In
general.--''.
(D)(i) Paragraph (2) of section 430(h) is amended by
striking subparagraph (G).
(ii) Paragraph (2) of section 303(h) of the Employee
Retirement Income Security Act of 1974 (29 U.S.C. 1083(h)) is
amended by striking subparagraph (G).
(E)(i) Paragraph (3) of section 436(j), as added by section
113(a)(1)(B) of the Pension Protection Act of 2006, is
amended by striking subparagraphs (B) and (C) and by striking
``(A) In general.--''.
(ii) Subparagraph (C) of section 206(g)(9) of the Employee
Retirement Income Security Act of 1974 (29 U.S.C. 1056(g)(9))
is amended by striking clauses (ii) and (iii) and by striking
``(i) In general.--''.
(F)(i) Section 436(j) is amended by striking the paragraph
(3) added by section 203(a)(2) of the Preservation of Access
to Care for Medicare Beneficiaries and Pension Relief Act of
2010.
(ii) Section 206(g)(9) of the Employee Retirement Income
Security Act of 1974 (29 U.S.C. 1056(g)(9)) is amended by
striking subparagraph (D).
(G)(i) Section 436 is amended by striking subsection (m).
(ii) Section 206(g) of the Employee Retirement Income
Security Act of 1974 (29 U.S.C. 1056(g)) is amended by
striking paragraph (11).
(H) Section 457(e)(15)(A) is amended by striking ``shall
be'' and all that follows and inserting ``is $15,000.''.
(58) Limitation on deductions for certain farming.--
(A) Section 464 is amended by striking ``any farming
syndicate (as defined in subsection (c))'' both places it
appears in subsections (a) and (b) and inserting ``any
taxpayer to whom subsection (d) applies''.
(B)(i) Subsection (c) of section 464 is hereby moved to the
end of section 461 and redesignated as subsection (j).
(ii) Such subsection (j) is amended--
(I) by striking ``For purposes of this section'' in
paragraph (1) and inserting ``For purposes of subsection
(i)(4)'', and
(II) by adding at the end the following new paragraphs:
``(3) Farming.--For purposes of this subsection, the term
`farming' has the meaning given to such term by section
464(e).
``(4) Limited entrepreneur.--For purposes of this
subsection, the term `limited entrepreneur' means a person
who--
``(A) has an interest in an enterprise other than as a
limited partner, and
``(B) does not actively participate in the management of
such enterprise.''.
(iii) Paragraph (4) of section 461(i) is amended by
striking ``section 464(c)'' and inserting ``subsection (j)''.
(C) Section 464 is amended--
(i) by striking subsections (e) and (g) and redesignating
subsections (d) and (f) as subsections (c) and (d),
respectively, and
(ii) by adding at the end the following new subsection:
``(e) Farming.--For purposes of this section, the term
`farming' means the cultivation of land or the raising or
harvesting of any agricultural or horticultural commodity
including the raising, shearing, feeding, caring for,
training, and management of animals. For purposes of the
preceding sentence, trees (other than trees bearing fruit or
nuts) shall not be treated as an agricultural or
horticultural commodity.''.
(D) Subsection (d) of section 464 of such Code (as
redesignated by subparagraph (C)) is amended--
(i) by striking paragraph (1) and redesignating paragraphs
(2), (3), and (4) as paragraphs (1), (2), and (3),
respectively, and
(ii) by striking ``Subsections (a) and (b) to Apply to'' in
the heading.
(E) Subparagraph (A) of section 58(a)(2) is amended by
striking ``section 464(c)'' and inserting ``section 461(j)''.
(59) Deductions limited to amount at risk.--Subparagraph
(A) of section 465(c)(3) is amended by striking ``In the case
of taxable years beginning after December 31, 1978, this''
and inserting ``This''.
(60) Passive activity losses and credits limited.--
(A) Section 469 is amended by striking subsection (m).
(B) Subsection (b) of section 58 is amended by adding
``and'' at the end of paragraph (1), by striking paragraph
(2), and by redesignating paragraph (3) as paragraph (2).
(61) Adjustments required by changes in method of
accounting.--Section 481(b)(3) is amended by striking
subparagraph (C).
(62) Exemption from tax on corporations, certain trusts,
etc.--Section 501 is amended by striking subsection (s).
(63) Requirements for exemption.--
(A) Section 503(a)(1) is amended to read as follows:
``(1) General rule.--An organization described in paragraph
(17) or (18) of section 501(c), or described in section
401(a) and referred to in section 4975(g) (2) or (3), shall
not be exempt from taxation under section 501(a) if it has
engaged in a prohibited transaction.''.
(B) Paragraph (2) of section 503(a) is amended by striking
``described in section 501(c)(17) or (18) or paragraph
(a)(1)(B)'' and inserting ``described in paragraph (1)''.
(C) Subsection (c) of section 503 is amended by striking
``described in section 501(c)(17) or (18) or subsection
(a)(1)(B)'' and inserting ``described in subsection (a)(1)''.
(64) Accumulated taxable income.--Paragraph (1) of section
535(b) and paragraph (1) of section 545(b) are each amended
by striking ``section 531'' and all that follows and
inserting ``section 531 or the personal holding company tax
imposed by section 541.''.
(65) Definition of property.--Subsection (b) of section 614
is amended--
(A) by striking paragraphs (3)(C) and (5), and
(B) in paragraph (4), by striking ``whichever of the
following years is later: The first taxable year beginning
after December 31, 1963, or''.
(66) Amounts received by surviving annuitant under joint
and survivor annuity contract.--Subparagraph (A) of section
691(d)(1) is amended by striking ``after December 31, 1953,
and''.
(67) Income taxes of members of armed forces on death.--
Section 692(a)(1) is amended by striking ``after June 24,
1950''.
(68) Special rules for computing reserves.--Paragraph (7)
of section 807(e) is amended by striking subparagraph (B) and
redesignating subparagraph (C) as subparagraph (B).
(69) Insurance company taxable income.--
(A) Section 832(e) is amended by striking ``of taxable
years beginning after December 31, 1966,''.
(B) Section 832(e)(6) is amended by striking ``In the case
of any taxable year beginning after December 31, 1970, the''
and inserting ``The''.
(70) Capitalization of certain policy acquisition
expenses.--Section 848 is amended by striking subsection (j).
(71) Tax on nonresident alien individuals.--Subparagraph
(B) of section 871(a)(1) is amended to read as follows:
``(B) gains described in subsection (b) or (c) of section
631,''.
(72) Limitation on credit.--Paragraph (2) of section 904(d)
is amended by striking subparagraph (J).
(73) Foreign earned income.--Clause (i) of section
911(b)(2)(D) is amended to read as follows:
``(i) In general.--The exclusion amount for any calendar
year is $80,000.''.
(74) Basis of property acquired from decedent.--
(A) Section 1014(a)(2) is amended to read as follows:
``(2) in the case of an election under section 2032, its
value at the applicable valuation date prescribed by such
section,''.
(B) Section 1014(b) is amended by striking paragraphs (7)
and (8).
(75) Adjusted basis.--Section 1016(a) is amended by
striking paragraph (12).
(76) Property on which lessee has made improvements.--
Section 1019 is amended by striking the last sentence.
(77) Involuntary conversion.--Section 1033 is amended by
striking subsection (j) and by redesignating subsections (k)
and (l) as subsections (j) and (k), respectively.
(78) Property acquired during affiliation.--Section 1051 is
hereby repealed, and the table of sections for part IV of
subchapter O of chapter 1 is amended by striking the item
relating to section 1051.
[[Page H8334]]
(79) Capital gains and losses.--Section 1222 is amended by
striking the last sentence.
(80) Holding period of property.--
(A) Paragraph (1) of section 1223 is amended by striking
``after March 1, 1954,''.
(B) Paragraph (4) of section 1223 is amended by striking ``
`(or under so much of section 1052(c) as refers to section
113(a)(23) of the Internal Revenue Code of 1939)' ''.
(C) Paragraphs (6) and (8) of section 1223 are repealed.
(81) Property used in the trade or business and involuntary
conversions.--Subparagraph (A) of section 1231(c)(2) is
amended by striking ``beginning after December 31, 1981''.
(82) Sale or exchange of patents.--Section 1235 is
amended--
(A) by striking subsection (c) and by redesignating
subsections (d) and (e) as subsections (c) and (d),
respectively, and
(B) by striking ``subsection (d)'' in subsection (b)(2)(B)
and inserting ``subsection (c)''.
(83) Dealers in securities.--Subsection (b) of section 1236
is amended by striking ``after November 19, 1951,''.
(84) Sale of patents.--Subsection (a) of section 1249 is
amended by striking ``after December 31, 1962,''.
(85) Gain from disposition of farmland.--Paragraph (1) of
section 1252(a) is amended--
(A) by striking ``after December 31, 1969'' the first place
it appears, and
(B) by striking ``after December 31, 1969,'' in
subparagraph (A).
(86) Treatment of amounts received on retirement or sale or
exchange of debt instruments.--Subsection (c) of section 1271
is amended to read as follows:
``(c) Special Rule for Certain Obligations With Respect to
Which Original Issue Discount Not Currently Includible.--
``(1) In general.--On the sale or exchange of debt
instruments issued by a government or political subdivision
thereof after December 31, 1954, and before July 2, 1982, or
by a corporation after December 31, 1954, and on or before
May 27, 1969, any gain realized which does not exceed--
``(A) an amount equal to the original issue discount, or
``(B) if at the time of original issue there was no
intention to call the debt instrument before maturity, an
amount which bears the same ratio to the original issue
discount as the number of complete months that the debt
instrument was held by the taxpayer bears to the number of
complete months from the date of original issue to the date
of maturity, shall be considered as ordinary income.
``(2) Subsection (a)(2)(A) not to apply.--Subsection
(a)(2)(A) shall not apply to any debt instrument referred to
in paragraph (1) of this subsection.
``(3) Cross reference.--For current inclusion of original
issue discount, see section 1272.''.
(87) Amount and method of adjustment.--Section 1314 is
amended by striking subsection (d) and by redesignating
subsection (e) as subsection (d).
(88) Election; revocation; termination.--Clause (iii) of
section 1362(d)(3)(A) is amended by striking ``unless'' and
all that follows and inserting ``unless the corporation was
an S corporation for such taxable year.''.
(89) Old-age, survivors, and disability insurance.--
Subsection (a) of section 1401 is amended by striking ``the
following percent'' and all that follows and inserting ``12.4
percent of the amount of the self-employment income for such
taxable year.''.
(90) Hospital insurance.--Paragraph (1) of section 1401(b)
is amended by striking: ``the following percent'' and all
that follows and inserting ``2.9 percent of the amount of the
self-employment income for such taxable year.''.
(91) Ministers, members of religious orders, and christian
science practitioners.--Paragraph (3) of section 1402(e) is
amended--
(A) by striking ``whichever of the following dates is
later: (A)'', and
(B) by striking ``;or (B)' '' and all that follows and
inserting a period.
(92) Withholding of tax on nonresident aliens.--The first
sentence of subsection (b) of section 1441 and the first
sentence of paragraph (5) of section 1441(c) are each amended
by striking ``gains subject to tax'' and all that follows
through ``October 4, 1966'' and inserting ``and gains subject
to tax under section 871(a)(1)(D)''.
(93) Affiliated group defined.--Subparagraph (A) of section
1504(a)(3) is amended by striking ``for a taxable year which
includes any period after December 31, 1984'' in clause (i)
and by striking ``in a taxable year beginning after December
31, 1984'' in clause (ii).
(94) Disallowance of the benefits of the graduated
corporate rates and accumulated earnings credit.--
(A) Subsection (a) of section 1551 is amended--
(i) by striking paragraph (1) and by redesignating
paragraphs (2) and (3) as paragraphs (1) and (2),
respectively, and
(ii) by striking ``after June 12, 1963,'' each place it
appears.
(B) Section 1551(b) is amended--
(i) by striking ``or (2)'' in paragraph (1), and
(ii) by striking ``(a)(3)'' in paragraph (2) and inserting
``(a)(2)''.
(95) Credit for state death taxes.--
(A)(i) Part II of subchapter A of chapter 11 is amended by
striking section 2011 (and by striking the item relating to
such section in the table of sections for such subpart).
(ii) Section 2106(a)(4) is amended by striking ``section
2011(a)'' and inserting ``2058(a)''.
(B)(i) Subchapter A of chapter 13 is amended by striking
section 2604 (and by striking the item relating to such
section in the table of sections for such subpart).
(ii) Clause (ii) of section 164(b)(4)(A) is amended by
inserting ``(as in effect before its repeal)'' after
``section 2604''.
(iii) Section 2654(a)(1) is amended by striking ``(computed
without regard to section 2604)''.
(96) Gross estate.--Subsection (c) of section 2031 is
amended by striking paragraph (3) and by amending paragraph
(1)(B) to read as follows:
``(II) $500,000.''.
(97)(A) Part IV of subchapter A of chapter 11 is amended by
striking section 2057 (and by striking the item relating to
such section in the table of sections for such subpart).
(B) Paragraph (10) of section 2031(c) is amended by
inserting ``(as in effect before its repeal)'' immediately
before the period at the end thereof.
(98) Property within the united states.--Subsection (c) of
section 2104 is amended by striking ``With respect to estates
of decedents dying after December 31, 1969, deposits'' and
inserting ``Deposits''.
(99) FICA taxes.--
(A) Subsection (a) of section 3101 is amended by striking
``the following percentages'' and all that follows and
inserting ``6.2 percent of the wages (as defined in section
3121(a)) received by the individual with respect to
employment (as defined in section 3121(b))''.
(B)(i) Subsection (a) of section 3111 is amended by
striking ``the following percentages'' and all that follows
and inserting ``6.2 percent of the wages (as defined in
section 3121(a)) paid by the employer with respect to
employment (as defined in section 3121(b)).''.
(ii) Subsection (b) of section 3111 is amended by striking
``the following percentages'' and all that follows and
inserting ``1.45 percent of the wages (as defined in section
3121(a)) paid by the employer with respect to employment (as
defined in section 3121(b)).''.
(C)(i) Section 3121(b) is amended by striking paragraph
(17).
(ii) Section 210(a) of the Social Security Act is amended
by striking paragraph (17).
(100) Railroad retirement.--
(A) Subsection (b) of section 3201 is amended to read as
follows:
``(b) Tier 2 Tax.--In addition to other taxes, there is
hereby imposed on the income of each employee a tax equal to
the percentage determined under section 3241 for any calendar
year of the compensation received during such calendar year
by such employee for services rendered by such employee.''.
(B) Subsection (b) of section 3211 is amended to read as
follows:
``(b) Tier 2 Tax.--In addition to other taxes, there is
hereby imposed on the income of each employee representative
a tax equal to the percentage determined under section 3241
for any calendar year of the compensation received during
such calendar year by such employee representative for
services rendered by such employee representative.''.
(C) Subsection (b) of section 3221 is amended to read as
follows:
``(b) Tier 2 Tax.--In addition to other taxes, there is
hereby imposed on every employer an excise tax, with respect
to having individuals in his employ, equal to the percentage
determined under section 3241 for any calendar year of the
compensation paid during such calendar year by such employer
for services rendered to such employer.''.
(D) Subsection (b) of section 3231 is amended--
(i) by striking ``compensation; except'' and all that
follows in the first sentence and inserting
``compensation.'', and
(ii) by striking the second sentence.
(101) Credits against federal unemployment tax.--
(A) Paragraph (4) of section 3302(f) is amended--
(i) by striking ``subsection--'' and all that follows
through ``(A) In general.--The'' and inserting ``subsection,
the'',
(ii) by striking subparagraph (B),
(iii) by redesignating clauses (i) and (ii) as
subparagraphs (A) and (B), respectively, and
(iv) by moving the text of such subparagraphs (as so
redesignated) 2 ems to the left.
(B) Paragraph (5) of section 3302(f) is amended by striking
subparagraph (D) and by redesignating subparagraph (E) as
subparagraph (D).
(102) Domestic service employment taxes.--Section 3510(b)
is amended by striking paragraph (4).
(103) Luxury passenger automobiles.--
(A) Chapter 31 is amended by striking subchapter A (and by
striking the item relating to such subchapter in the table of
subchapters for such chapter).
(B)(i) Section 4221 is amended--
(I) in subsections (a) and (d)(1), by striking ``subchapter
A or'' and inserting ``subchapter'',
(II) in subsection (a), by striking ``In the case of taxes
imposed by subchapter A of chapter 31, paragraphs (1), (3),
(4), and (5) shall not apply.'', and
(III) in subsection (c), by striking ``4001(c), 4001(d),
or''.
(ii) Section 4222 is amended by striking ``4001(c),
4001(d),''.
(iii) Section 4293 is amended by striking ``subchapter A of
chapter 31,''.
(104) Transportation by air.--Section 4261(e) is amended--
[[Page H8335]]
(A) in paragraph (1), by striking subparagraph (C), and
(B) by striking paragraph (5).
(105) Taxes on failure to distribute income.--
(A) Subsection (g) of section 4942 is amended by striking
``For all taxable years beginning on or after January 1,
1975, subject'' in paragraph (2)(A) and inserting
``Subject''.
(B) Section 4942(i)(2) is amended by striking ``beginning
after December 31, 1969, and''.
(106) Taxes on taxable expenditures.--Section 4945(f) is
amended by striking ``(excluding therefrom any preceding
taxable year which begins before January 1, 1970)''.
(107) Definitions and special rules.--Section 4682(h) is
amended--
(A) by striking paragraph (1) and redesignating paragraphs
(2), (3), and (4) as paragraphs (1), (2), and (3),
respectively, and
(B) in paragraph (1) (as so redesignated)--
(i) by striking the heading and inserting ``In general'',
and
(ii) by striking ``after 1991'' in subparagraph (C).
(108) Returns.--Subsection (a) of section 6039D is amended
by striking ``beginning after December 31, 1984,''.
(109) Information returns.--Subsection (c) of section 6060
is amended by striking `` `year' '' and all that follows and
inserting ``year.''.
(110) Collection.--Section 6302 is amended--
(A) in subsection (e)(2), by striking ``imposed by'' and
all that follows through ``with respect to'' and inserting
``imposed by sections 4251, 4261, or 4271 with respect to'',
(B) by striking the last sentence of subsection (f)(1), and
(C) in subsection (h)--
(i) by striking paragraph (2) and redesignating paragraphs
(3) and (4) as paragraphs (2) and (3), respectively, and
(ii) by amending paragraph (3) (as so redesignated) to read
as follows:
``(3) Coordination with other electronic fund transfer
requirements.--Under regulations, any tax required to be paid
by electronic fund transfer under section 5061(e) or 5703(b)
shall be paid in such a manner as to ensure that the
requirements of the second sentence of paragraph (1)(A) of
this subsection are satisfied.''.
(111) Abatements.--Section 6404(f) is amended by striking
paragraph (3).
(112) 2008 recovery rebate for individuals.--
(A) Subchapter B of chapter 65 is amended by striking
section 6428 (and by striking the item relating to such
section in the table of sections for such subchapter).
(B) Subparagraph (A) of section 6211(b)(4) is amended by
striking ``6428,''.
(C) Paragraph (2) of section 6213(g), as amended by section
214(a)(2) of this Act and paragraphs (4) and (5)(C) of this
subsection, is amended by striking subparagraph (Q), by
redesignating subparagraph (O) as subparagraph (N), by
inserting ``and'' at the end of subparagraph (M), and by
striking the comma at the end of subparagraph (N) (as so
redesignated) and inserting a period.
(D) Paragraph (2) of section 1324(b) of title 31, United
States Code, is amended by striking ``6428, or 6431,'' and
inserting ``or 6431''.
(113) Advance payment of portion of increased child credit
for 2003.--Subchapter B of chapter 65 is amended by striking
section 6429 (and by striking the item relating to such
section in the table of sections for such subchapter).
(114) Failure by corporation to pay estimated income tax.--
Clause (i) of section 6655(g)(4)(A) is amended by striking
``(or the corresponding provisions of prior law)''.
(115) Retirement.--Section 7447(i)(3)(B)(ii) is amended by
striking ``at 4 percent per annum to December 31, 1947, and 3
percent per annum thereafter'', and inserting ``at 3 percent
per annum''.
(116) Annuities to surviving spouses and dependent children
of judges.--
(A) Paragraph (2) of section 7448(a) is amended--
(i) by striking ``or under section 1106 of the Internal
Revenue Code of 1939'', and
(ii) by striking ``or pursuant to section 1106(d) of the
Internal Revenue Code of 1939''.
(B) Subsection (g) of section 7448 is amended by striking
``or other than pursuant to section 1106 of the Internal
Revenue Code of 1939''.
(C) Subsections (g), (j)(1), and (j)(2) of section 7448 are
each amended by striking ``at 4 percent per annum to December
31, 1947, and 3 percent per annum thereafter'' and inserting
``at 3 percent per annum''.
(117) Merchant marine capital construction funds.--
Paragraph (4) of section 7518(g) is amended by striking ``any
nonqualified withdrawal'' and all that follows through ``
`shall be determined'' and inserting ``any nonqualified
withdrawal shall be determined''.
(118) Valuation tables.--
(A) Subsection (c) of section 7520 is amended by striking
paragraph (2) and redesignating paragraph (3) as paragraph
(2).
(B) Paragraph (2) of section 7520(c) (as redesignated by
subparagraph (A)) is amended--
(i) by striking ``Not later than December 31, 1989, the''
and inserting ``The'', and
(ii) by striking ``thereafter'' in the last sentence
thereof.
(119) Definition of employee.--Section 7701(a)(20) is
amended by striking ``chapter 21'' and all that follows and
inserting ``chapter 21.''.
(b) Effective Date.--
(1) General rule.--Except as otherwise provided in
subsection (a) or paragraph (2) of this subsection, the
amendments made by this section shall take effect on the date
of enactment of this Act.
(2) Savings provision.--If--
(A) any provision amended or repealed by the amendments
made by this section applied to--
(i) any transaction occurring before the date of the
enactment of this Act,
(ii) any property acquired before such date of enactment,
or
(iii) any item of income, loss, deduction, or credit taken
into account before such date of enactment, and
(B) the treatment of such transaction, property, or item
under such provision would (without regard to the amendments
or repeals made by this section) affect the liability for tax
for periods ending after date of enactment, nothing in the
amendments or repeals made by this section shall be construed
to affect the treatment of such transaction, property, or
item for purposes of determining liability for tax for
periods ending after such date of enactment.
TITLE III--JOINT COMMITTEE ON TAXATION
SEC. 301. INCREASED REFUND AND CREDIT THRESHOLD FOR JOINT
COMMITTEE ON TAXATION REVIEW OF C CORPORATION
RETURN.
(a) In General.--Subsections (a) and (b) of section 6405
are each amended by inserting ``($5,000,000 in the case of a
C corporation)'' after ``$2,000,000''.
(b) Effective Date.--The amendment made by this section
shall take effect on the date of the enactment of this Act,
except that such amendment shall not apply with respect to
any refund or credit with respect to a report that has been
made before such date under section 6405 of the Internal
Revenue Code of 1986.
TITLE IV--BUDGETARY EFFECTS
SEC. 401. BUDGETARY EFFECTS.
(a) Paygo Scorecard.--The budgetary effects of this Act
shall not be entered on either PAYGO scorecard maintained
pursuant to section 4(d) of the Statutory Pay-As-You-Go Act
of 2010.
(b) Senate Paygo Scorecard.--The budgetary effects of this
Act shall not be entered on any PAYGO scorecard maintained
for purposes of section 201 of S. Con. Res. 21 (110th
Congress).
The SPEAKER pro tempore. The gentleman from Michigan (Mr. Camp) and
the gentleman from Michigan (Mr. Levin) each will control 30 minutes.
The Chair recognizes the gentleman from Michigan (Mr. Camp).
General Leave
Mr. CAMP. Mr. Speaker, I ask unanimous consent that all Members have
5 legislative days in which to revise and extend their remarks and to
include extraneous material on H.R. 5771.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Michigan?
There was no objection.
Mr. CAMP. Mr. Speaker, I yield myself such time as I may consume.
As we all know, there is a series of tax provisions that routinely
expire that Congress must then renew, typically extending them for 1
year retroactively and 1 year prospectively. Congress routinely extends
these policies without offsetting the revenue loss.
This on again-off again style of legislating on a temporary basis is
a terrible way to make tax policy. We are the only Nation in the world
that lets large pieces of its Tax Code expire.
Hard-working taxpayers deserve to know whether these tax policies are
going to be there year in and year out on a permanent basis. Temporary
renewals cannot provide the certainty that American businesses need in
order to make the best decisions about how to invest in cutting-edge
research, whether to buy new pieces of equipment, and most importantly,
whether to hire that additional worker. These temporary renewals mean
uncertainty for families as well as they try to plan their family
budgets.
Throughout the year, the Ways and Means Committee has produced
legislation that carefully examined many of these temporary extenders
and reformed and made permanent several of the most important ones. The
whole House on a bipartisan basis later passed this legislation.
This included important policies such as a permanent and improved
credit for research and development and permanently higher section 179
expensing levels for small businesses--policies that were also included
in the President's budget proposals.
Analysis by the nonpartisan experts at the Joint Committee on
Taxation confirmed that permanent extensions of these policies would
result in companies spending more on R&D and making new investments,
all of which would promote job creation and higher wages.
[[Page H8336]]
Having passed a number of these policies through the House on a
bipartisan basis, we proceeded with the rather old-fashioned approach
of beginning bipartisan negotiations with the Senate.
{time} 1615
Until last week, we were making significant progress in those
negotiations as everyone involved worked in good faith to reach a
successful conclusion. We were close to reaching an agreement that
would ensure that many of the bills that passed the House on a
bipartisan basis would be included.
In addition, we were going beyond the list of traditional tax
extenders and including additional policies designed specifically to
assist low- and middle-income American families, in particular,
policies such as the American Opportunity Tax Credit, which helps low-
and middle-income families afford college, which was also included in
the President's budget proposals. Other policies included making
permanent the deduction for State and local sales taxes and the tax
rules for mass transit benefits.
However, before these negotiations could conclude, the administration
took the unbelievable step of issuing a veto threat. The President
issued a veto threat over bipartisan, bicameral negotiations.
Now, I can't tell you with certainty exactly what the administration
wants because the administration has not even bothered to reach out and
tell us what the President's priorities are; rather than trying to
engage and work with Congress, the administration is only communicating
through press statements.
The President has often said that he wants to work with Congress to
find bipartisan solutions. In fact, in his press conference after the
election, the President said:
I am eager to work with the new Congress to make the next 2
years as productive as possible. I am committed to making
sure that I measure ideas not by whether they are from
Democrats or Republicans, but whether they work for the
American people.
That statement is completely at odds with the President's actions
last week, and we all know that actions speak louder than words. As a
result of the administration's actions, negotiations with the Senate
have come to a standstill.
Inexplicably, the administration and some Senate Democrats have taken
the position that policies that promote savings, investment, charitable
donations, and job creation are a ``giveaway'' to big corporations.
These Senators and the administration should listen to the 1,032
charitable organizations that have written to every Member of Congress
in support of the permanent tax incentives for charitable giving that
would have been included in the agreement with the Senate. I don't
think that policies that promote donations to food banks, homeless
shelters, and hospitals are giveaways to corporate America.
The administration's actions now force us to take a different and
less effective approach. With the end of the year and a new tax filing
season rapidly approaching, we need to act. The IRS has been clear,
unless Congress acts quickly, it will be forced to delay the start of
the tax filing season.
American families are struggling to make ends meet as wages remain
flat, even as expenses increase. These families can't and should not
face a delay in getting their tax refund.
The legislation before us today will address the concerns raised by
the IRS and ensure the tax filing season can open on time. We should
ensure that the President's actions do not hurt hardworking taxpayers
who are counting on that tax refund; therefore, I urge the House to
pass this legislation and ensure that the tax filing season opens on
time.
I reserve the balance of my time.
Mr. LEVIN. Mr. Speaker, I yield myself such time as I may consume.
This legislation is crucial as much for what it avoids as what it
accomplishes. A 1-year extension avoids the dangerous plan pushed by
House Republicans for much of this last year to make permanent a select
number of provisions at a cost of nearly $1 trillion.
That plan was not only fiscally irresponsible, it also left many
provisions behind that are vital to working families and small
businesses, including the exclusion for mortgage debt forgiveness, new
market tax credits, continuations of the expansions to the earned
income tax credit, and the refundable portion of the child tax credit.
This bill also avoids an almost equally harmful proposal under
consideration last week that would have permanently extended a select
group of expiring provisions and would also have given permanent breaks
to a relative few while costing more than $400 billion and leaving out
critical provisions that help working families.
I actively and publicly opposed that proposal. Fortunately, it
generated a veto threat from the President.
The provisions in today's extender bill need more serious
consideration than would have been provided in that proposal both as to
substance, whether they contribute to economic growth and jobs, and how
they fit into the need for both equity and fiscal responsibility.
Some of the extender provisions have contributed to economic growth,
such as the provisions for R&D, promoting development of renewable
energy, encouraging development of small business, and increasing
educational opportunity. Others should not be part of any permanent
action, such as bonus depreciation, which was always contemplated as a
temporary measure to stimulate economic growth and activity.
Some of the provisions in tax extenders should end, and others need
to be addressed as we make better sense of the international tax
structure, including closing tax loopholes. While I did not agree with
many of the provisions of the tax reform proposal of the chairman, he
did attempt to address issues in a more comprehensive way, unlike what
was passed through the House up to $1 trillion and was attempted last
week.
It was a serious mistake, as I said, for the Republicans to have
taken pieces of it, trying to make them permanent without paying a dime
to offset the more than $800 billion cost of doing so.
The bill today, therefore, only maintains the status quo for this
year. Not to act would disrupt the coming tax filing season for
millions of American workers and businesses which have relied on
Congress to extend these provisions and will, in a matter of weeks,
begin filing their 2014 tax returns. As a result, I will support this
measure.
As we act in the future, including on tax reform, I believe the
lesson that should be learned from the past is that it is critical to
try to work on a bipartisan basis, recognizing the importance of
maintaining support for the values that must underpin legislative
action.
I reserve the balance of my time.
Mr. CAMP. Mr. Speaker, I yield myself such time as I may consume.
I do want to thank my friend from Michigan for his support of this
legislation before us today. It is something that we do need to do. We
cannot allow these provisions to be expired for all of 2014, but I
would say that, if you look around, we are not seeing the kind of
growth and opportunity that we should see in America. We are not seeing
the kind of job creation, we are not seeing the kind of income
increases; yet expenses are going up for families.
The items that the gentleman talked about, whether it was research
and development or section 179 or the American Opportunity Tax Credit,
all of those were going to be permanent in the package that we were
working on, and even the mortgage debt forgiveness for those who are
selling their homes and their mortgages were underwater, we were
extending that for 2 years, so there were a lot of things for families.
Certainly, the charitable provisions for food banks and for
charitable giving, those would certainly help middle class Americans as
well.
The reason why I think it is important to get permanent policy is
that we haven't seen the kind of growth that we need to see, and the
more of these items that we can make permanent, the more stability we
have, the more likely it is that employers and individuals and families
are going to make the kind of long-term decisions that will cause our
economy to grow.
It is not just me saying this; it is the nonpartisan Joint Committee
on Taxation that says permanent policies such as these, as we were
working on, are the kinds of things that the country needs to do to
grow.
Again, I want to thank him for his support of the legislation.
Hopefully, in
[[Page H8337]]
the future, we will be able to get at some of these issues in a more
permanent way, so that we don't have this unusual system where we have
had all of these policies expired for all of 2014 and, in the final 2
weeks, we are going to retroactively put them into place for the final
weeks of the year, so that when people file in April, they will be able
to take advantage of these items. We should really do this on a more
regular basis.
I reserve the balance of my time.
Mr. LEVIN. Mr. Speaker, I yield myself 1 minute.
Look, you made provisions permanent, Mr. Chairman, and you paid for
them in your bill. There is disagreement how you paid for them, but you
paid for them, and then you come forth with up to $1 trillion permanent
unpaid for and leave out the child tax credit and the EITC.
The SPEAKER pro tempore. The time of the gentleman has expired.
Mr. LEVIN. I yield myself an additional 1 minute.
Then we hear last week a proposal for $400 billion of it unpaid for,
permanent--unpaid for, permanent--leaving out the EITC and the child
tax credit, so that is why the President acted, and that is why it was
essential he act.
The SPEAKER pro tempore. Members are reminded to address their
remarks to the Chair and not to other Members in the second person.
Mr. LEVIN. I now yield 4 minutes to the distinguished gentleman from
Maryland (Mr. Hoyer).
Mr. HOYER. Mr. Speaker, I thank Chairman Camp for his courage. I am
not going to thank him for this bill, however, but I am going to vote
for this bill.
Mr. Speaker, American families and businesses deserve certainty from
their tax system--confidence, stability. I am glad we are able to move
forward on this legislation rather than pursue a plan to make certain
tax preferences permanent while ballooning our debt.
While I am supporting this tax extender package, Mr. Speaker, I do so
with two very serious reservations. First, it adds the cost of
extending this preference to our deficit. It is good, however, that we
did not make unpaid-for extensions on a permanent basis, as the ranking
member has just discussed.
Second, this is a very short-term fix when Congress needs to work
toward a long-term solution. I join the ranking member in
congratulating Mr. Camp for bringing that forward--well, at least he
put it on the table. It didn't come forward.
We ought to make the research and experimentation tax credit
permanent, but we need to pay for it. While this legislation allows
teachers to deduct their out-of-pocket expenses, it does not give them
the certainty that they will be able to do so in 2015 or beyond. To
that extent, they are in the same position as everybody else covered by
this bill will be.
Neither does this bill provide appropriate tax support for renewable
energy, biofuels, and energy efficiency--sadly, the failure to extend
this for at least 2 years may result in the loss of up to 30,000 jobs--
nor, Mr. Speaker, does it provide long-term clarity on long-term bonus
depreciation or small business expensing, all of which would give
greater confidence to the growth of jobs.
This all speaks to a larger challenge that Congress has an
opportunity to address in the new year; instead of this annual ritual
of extending individual credits and deductions, we ought to engage in
meaningful, comprehensive, and pro-growth tax reform that provides
greater certainty across our economy to businesses and individuals
alike.
We all know that doing so will not be easy. It will involve difficult
choices on both sides of the aisle.
Again, Mr. Chairman, I want to congratulate you. You had the courage
to put forward a bill earlier this year that made tough decisions in
order to show a path to lower rates and a simpler Code without adding
to the deficit, but that path wasn't the path taken by the majority in
this Congress.
Instead, the House voted on bill after bill after bill to cut taxes
recklessly without any plan to stabilize the debt, invest in our future
priorities, and create jobs in a meaningful way.
This package we will be voting on today is the least we can do. It
isn't what I hoped for, and it isn't what I hoped I would stand in this
well and urge my colleagues to support at the beginning of the 113th
Congress, but it is better than many of the cynical alternatives that
we have heard about.
{time} 1630
I want to congratulate the ranking member and, frankly, the President
of the United States for saying ``no'' to an irresponsible package.
The SPEAKER pro tempore. The time of the gentleman has expired.
Mr. LEVIN. Mr. Speaker, I yield an additional 2 minutes to the
gentleman.
Mr. HOYER. Mr. Speaker, I thank the gentleman for yielding.
While I support this measure, I do so believing that America deserves
better, wants better, hopes to get better. That is what each and every
one of us was sent here to deliver: responsible policy for our country.
This is not that policy. It is, however, as I said, better than the
alternative in that it would at least give those in 2014 who have
operated on the expectation of getting the credit the assurance that
they will get it.
My hope, Mr. Speaker, is that, come next December, we won't be here
again considering another tax extender bill to keep the economy from
collapsing. It is my hope, Mr. Speaker, that the Republican majority
and the Democratic minority can work together to effect responsible,
fiscally sound tax reform which will help grow our economy and give the
business community and our people the confidence they need to have to
grow our economy and to participate effectively in making America
better.
Mr. Speaker, again, in closing, I want to congratulate Mr. Camp,
because I think he did bring forth a bill that could have engendered
that responsible debate that we needed, a fiscally sound proposal
making tough tradeoffs that we ought to have the courage to make. He
had that courage, and I congratulate him for it.
Mr. CAMP. Mr. Speaker, I just want to thank the distinguished
gentleman from Maryland for his remarks. This is a debate America needs
to have and, hopefully, next year that debate will move forward.
With that, I yield 3 minutes to the distinguished gentleman from
Indiana (Mr. Stutzman).
Mr. STUTZMAN. Mr. Speaker, I rise today in support of the Tax
Increase Prevention Act of 2014.
Mr. Speaker, American workers and businesses are most successful when
they are able to keep, spend, and invest more of their hard-earned
money. Our economy, which has already remained too weak for too long,
simply cannot afford a series of irresponsible tax hikes that will
target individuals, small businesses, and job creators all across the
country. So this legislation will help protect those taxpayers--our
taxpayers--and their pocketbooks and provide them some level of clarity
as they plan for the new year.
Right now, working families and businesses are simply trying to make
ends meet. I know from speaking with families and workers back home in
Indiana that the last thing that they can afford is higher taxes when
they need to be providing for their kids' education, savings, or
growing their business.
In this legislation, Mr. Speaker, I am especially pleased to support
the provisions that would extend the increased section 179 deduction
levels, as well as the extension of bonus depreciation. Countless
farms, small businesses, and manufacturers in the Hoosier State and
across the country use these important tools to make business-building
capital investments. A failure to act on those tax extensions would
only slow an economic recovery that desperately needs to pick up the
pace.
Today, we have an opportunity to stand together as Republicans and
Democrats and pass legislation that will prevent economic harm to
millions of families and businesses across the United States. While
this may not be the intention that we would all like to have, I do
believe that this is the best that we can do for right now to prevent
any sort of further damage to the economy.
I would like to, in closing, thank Chairman Camp and the members of
the Ways and Means Committee for their hard work on this issue, and I
would urge my colleagues to support their efforts.
I would also like to take a brief moment to thank Chairman Camp for
his
[[Page H8338]]
many years of service as a tireless advocate for the constituents back
in Michigan. I have the opportunity to travel with him to Detroit from
time to time and appreciate his thoughtfulness and his leadership and
his desire to do what is best for America. He is an honorable
colleague, and I have been honored to have had the chance to serve with
him. I wish him the very best in his retirement and know that he will
continue to stay busy one way or another.
Thank you again, Mr. Chairman, for your work on this. I know that you
definitely set the table for further tax reform, which is desperately
needed here in our country, and know that it would be good for our
economy. Thank you for what you have done. This has given folks back
home some clarity and certainty for this year.
Mr. LEVIN. Mr. Speaker, I yield 2 minutes to the gentleman from
Washington (Mr. McDermott), another distinguished member of our
committee.
(Mr. McDERMOTT asked and was given permission to revise and extend
his remarks.)
Mr. McDERMOTT. Mr. Speaker, there is a fundamental issue with our
current policy on tax extenders.
I was a Ways and Means chairman in the State legislature and was told
by a very important businessman in the State of Washington once: I
don't care what rate you give me, tell me how long it is going to be;
how am I going to amortize this? I need to know the length of time.
This bill, so people really understand, lasts exactly 28 days. It
will die on January 1. It is for last year.
Now, businesses and individuals can't be certain they are going to
get a tax break because of the stop-and-start, temporary nature of
Congress reauthorizing these tax bills. Businesses and individuals need
to know what the tax is going to be in the beginning of the year so
that they can plan and take advantage of incentives rather than waiting
until the last 2 weeks of the year when the Congress may or may not
act.
This year, businesses that want to take advantage of the research tax
credit have either been sitting on the sidelines or making investments
or not making investments not knowing, or maybe they gambled and said:
Well, we figure that Congress will do something some day.
Everyone should take note of today, the 3rd of December. Next year,
right about this time, we will be right back here with the same bill--
we can have the same speeches put right out here--because we simply do
not give businesses certainty. If we did, we would have the economy
rolling better.
Individuals and businesses are going into this year wondering whether
they will have to act retroactively on these provisions. I am going to
vote ``yes'' like everybody else, but it makes no sense that you have a
bill like this 28 days before the end of the year. You have got the IRS
wondering if they are going to be able to do the tax stuff and all of
this chaos that is created. There are calls coming into our office: Are
you going to pass this? Are you going to pass that? What should I do
for next year? The answer that a Congressman has to give if he is
honest is, ``I don't know.''
This place is dysfunctional. It may be some of the explanation of why
people didn't vote in the last election. They figured that Congress
isn't going to do anything, and this is a perfect example of it. We
should have done it a long time ago, and done it permanently.
Mr. CAMP. Mr. Speaker, at this time, I yield such time as he may
consume to the distinguished gentleman from Wisconsin (Mr. Ryan), the
chairman of the Budget Committee and the incoming chairman of the Ways
and Means Committee.
Mr. RYAN of Wisconsin. Mr. Speaker, I thank the chair.
The reason I came down here is to speak in favor of this legislation,
to suggest that I wish we could have gotten where we were with the
bipartisan negotiations that occurred before White House involvement.
This is obviously something that is necessary that has to pass.
But here is the reason that I came down. I came down to say thank you
to Dave Camp for being an absolutely stellar chairman of the House Ways
and Means Committee. This is a man who spent 24 years in this room
making a difference in the lives of the people from Michigan and the
lives of the 300 million Americans in this country. This country is so
much better off because of the dedicated service of this man, the
chairman of the Ways and Means Committee. He came in at a young age,
reforming a lot of different programs, but one of the biggest marks he
made in his early days in Congress is welfare reform.
Dave Camp was one of the principal architects of that 1996 welfare
reform, which did so much to move people from welfare to work, to
reduce child poverty, to help single moms get back to work, to get
people lives of dignity. And he went from there to trade, to tax
reform, to health care reform, on and on and on.
I only hope that I can do somewhat of the job that he has done in
being a stellar steward of this magnificent committee and being a
fantastic chairman. Mr. Speaker, I simply wish him great success in his
future endeavors.
Mr. LEVIN. Mr. Speaker, I yield 2 minutes to the gentleman from
Oregon (Mr. Blumenauer), another distinguished member of our committee.
Mr. BLUMENAUER. Mr. Speaker, I, too, would extend my congratulations
to Mr. Camp. I have enjoyed being able to work with him for a lot of
these 20 years. I enjoy his leadership, his dedication, and his
friendship. In a sense, I feel that it was unfortunate that he had to
navigate all these bizarre, choppy waters. It would have been fun to
see what would have happened in a little more measured environment.
The legislation we are dealing with here today is kind of a symbol of
the difficulty he faces and the frustrations we all met. This should be
the first legislation that we deal with in the next Congress, not the
last legislation we deal with now.
It has been referenced that this is only going to be in effect for a
few days. Look at what has happened when we deal with areas that I care
deeply about. I have worked for years with short-line railroad
interests. They rely on a tax credit to be able to make a difference in
rural and small town America. Some of them are plunging in and have
taken the risk that will be extended, some have not. These are
investments that can't be made in that fashion.
I have enjoyed working with the wind energy industry and looking at
what we have done over the course of 2005 to 2012. When we had the
production tax credit in place and there was some certainty, we had the
wind industry grow nine times over, over $100 billion in investment and
helping us generate clean energy and drop the price per unit
profoundly. Now who knows what they are facing.
Looking at the transit benefit, I was pleased to have worked to be
able to give transit parity to the millions of Americans who take buses
and trains to work, to treat them the way we treat people who drive a
car. For 3 years, they were treated that way. And then Congress, after
the change in power had dropped to $125 a month, and then we kind of
got it back when we dealt with the fiscal cliff, now it is back to
$130. It is not fair to people in Chicago, in Detroit, in Metropolitan
Washington, in New Jersey, in small town America where they take
advantage of this. It is another example of where we are in this
squirrel cage.
The SPEAKER pro tempore. The time of the gentleman has expired.
Mr. LEVIN. Mr. Speaker, I yield an additional minute to the
gentleman.
Mr. BLUMENAUER. Mr. Speaker, I thank the gentleman. I appreciate his
courtesy.
I am to the point where I don't actually know what is the right vote.
I have no doubt that it will pass, but is it the right signal to send
for so many industries that have a right to expect certainty, that have
a right to expect the things that they have relied upon for years,
built their business models around, are treated in the cavalier fashion
by this Congress? I don't think that is right.
I think there are many areas of reform. I appreciate my friend Mr.
Camp diving in and dealing with some of these tough issues. We had a
demonstration that it is not going to be easy to deal with tax reform.
But it is not going to help anybody for the long term or short term to
have businesses roll the dice on things in many cases
[[Page H8339]]
that are critical to the national interest and that they rely upon.
They deserve better, and so does the American public.
{time} 1645
Mr. CAMP. Mr. Speaker, I reserve the balance of my time.
Mr. LEVIN. Mr. Speaker, I yield 2 minutes to the gentleman from
Wisconsin (Mr. Kind), another member of our committee.
Mr. KIND. I thank my friend for yielding.
Mr. Speaker, this may be one of the last times I have an opportunity
to address the current chairman of the Ways and Means Committee, Mr.
Camp from Michigan, and I just want to commend him for such a
distinguished career in the United States Congress. He has been an
honest broker on the issues, a good friend, and I know all of us are
going to miss him terribly when he decides to retire and go on to other
ventures in his life. We all wish him well.
Mr. Speaker, I think all of us, it is safe to assume, are not happy
with this process or the fact that we are here again at the end of the
year trying to do a 1-year extension on tax breaks that will be
retroactive to 2014, mind you, and not paid for. This is a lousy way to
run a Tax Code. It is a lousy way to run a government. I think
individuals and businesses, large and small, need greater certainty for
the decisions they have got to make with their lives and their
businesses, especially the investment decisions; and by doing things
retroactively around here and maintaining that uncertainty in future
years, it is not the right way to go. And, also, not paying for it.
I think there are opportunities. Certainly the Committee for a
Responsible Federal Budget laid out a whole list of potential pay-fors
that, if we had real interest, we could have very easily scrubbed the
Code to find some offsets to pay for the $40 billion cost that this 1-
year extension has today, rather than just adding it to the debt and
deficit in our country. We have got to do a better job at that.
But if this also means we have an opportunity moving into next year
of being serious about comprehensive tax reform, something that is long
overdue--again, with the leadership of the Ways and Means Committee and
Mr. Camp and introducing his discussion draft proposal earlier this
year, so a lot of a groundwork has been made--then this might be the
pressure that we need to get the committee and this body to do what is
long overdue, and that is reform an antiquated Tax Code to make it more
fair, more simple, to make it more competitive in the global
environment.
I think that is a goal that, again, hopefully, we share, and it might
be an avenue of bipartisan cooperation as we do move forward.
The SPEAKER pro tempore. The time of the gentleman has expired.
Mr. LEVIN. Mr. Speaker, I yield the gentleman an additional 1 minute.
Mr. KIND. Thank you.
Mr. Speaker, I continuously hear from small business owners and
farmers back home about the need for greater certainty and the need to
revamp a Tax Code that has outlived its usefulness. It is riddled with
inefficiencies. It is riddled with certain expenditures that have been
included in it throughout the years due to powerful special interests
who know how to work the Halls of Congress to get their special
provisions in it, and who we are leaving behind are hardworking
families back home and the small businesses on Main Street who can't
hire their legion of lobbyists out here to protect their interests or
to get their special provisions in.
So as we move forward, hopefully this will be one of those areas
where we can find some common ground and do what is right for our
Nation. That would help jump-start the U.S. economy and put us in a
much more competitive place, when it comes to the global economy, at
the same time.
I reluctantly support it. I think we could have done a better job.
But I think it is also important for policy reasons to maintain these
tax provisions until we get a chance to do comprehensive reform around
here.
Mr. CAMP. Mr. Speaker, I continue to reserve the balance of my time.
Mr. LEVIN. Mr. Speaker, I yield 2 minutes to the gentleman from New
Jersey (Mr. Pascrell), another distinguished member of our committee.
(Mr. PASCRELL asked and was given permission to revise and extend his
remarks.)
Mr. PASCRELL. Thank you, Mr. Ranking Member, and thank you, Mr.
Chairman. I listened to both sides, and you have given me the reasons
that I am going to be opposed to this legislation.
For the past 4 years, the Ways and Means Committee has debated
comprehensive tax reform. Sadly, the fruit of that discussion before us
is a 1-year retroactive extension of a temporary tax provision. This is
an illusion. This is a Fellini movie we are seeing on a late afternoon
in Washington, D.C. It is completely unpaid for. It gives no certainty
to businesses or individuals because it expires 1 month from today.
Unlike today's bill, Chairman Camp's tax reform draft dealt with many
expiring tax provisions in a courageous way. We were dealing with wind
credits, R&D tax credits, mortgage debt forgiveness, all the way down
the line, as well as the mortgage principal extension, which is needed
for people who have had catastrophic problems within their own States.
This is an example of what a responsible approach to extenders looks
like.
This bill before us today is wholly inadequate. Not only does it add
billions of dollars to the deficit, we kick the can down the road by
only dealing with extenders in a retroactive manner. In other words,
this money has been spent over the last 11 months, hopefully, getting
to the point where we would pay for it. That is not the way to run the
show, and you know that only puts us deeper into uncertainty and
certainly deeper into debt.
Does anyone believe the 2 weeks these provisions will be in effect
will encourage any business to make decisions about whether to hire
more workers or invest in alternative energy or research, new equipment
for small businesses or development in disadvantaged communities?
The SPEAKER pro tempore. The time of the gentleman has expired.
Mr. LEVIN. Mr. Speaker, I yield the gentleman an additional 1 minute.
Mr. PASCRELL. Thank you.
I am not finished yet, but I want to say to Mr. Camp, you have been a
civil voice that will be missed in this hallowed Hall. And I mean that
sincerely from my heart, because civil discussion is necessary in the
House of Representatives.
Many times, in other places, it has not been civil. It will do
nothing to encourage this legislation, this new development in
renewable energy.
I want to be clear. I strongly support, my record will show, many of
these tax provisions. I want to work with colleagues on the other side
and my own side to make many of them permanent.
While this approach may help taxpayers and businesses who made
decisions assuming Congress would act responsibly, it is not in the
country's long-term interest, Mr. Speaker. At a bare minimum, Congress
should be extending these provisions until the end of 2015 in a
fiscally responsible way.
Mr. Speaker, I unfortunately must oppose this legislation, the so
called ``Tax Increase Prevention Act.'' For the past four years, the
Ways and Means Committee has debated comprehensive tax reform. Sadly,
the fruit of that discussion before us is a one-year, retroactive
extension of temporary tax provisions, completely unpaid for, and that
gives no certainty to businesses or individuals because it expires one
month from today.
It didn't have to be this way. Earlier this year, Chairman Camp
released an ambitious proposal for a comprehensive reform of our tax
code. I did not agree with everything in that proposal, and neither did
many of my friends on the other side of the aisle. But I was confident
that both sides could use Chairman's Camp's draft as a starting point
to come together around a reform plan that would finally address the
many loopholes and inefficiencies in our tax code.
Mr. Camp's draft also dealt with the many expiring tax provisions
before us today in a courageous way. He resisted the temptation to
assume these breaks would be indefinitely extended and added to the
deficit. Instead, he made permanent the ones he wanted to keep and paid
for them, while separately identifying ones he would let expire. This
is an example of what a responsible approach to extenders looks like.
Unfortunately, what happened next could not have been less reflective
of Mr. Camp's earlier work.
Before the ink had even dried on Chairman Camp's tax reform
draft, the majority of Ways and Means began passing permanent
extensions of nearly $1 trillion in tax
[[Page H8340]]
provisions and did not even make an attempt to pay for one
dime of them. This approach is the height of irresponsibility
and has squandered any good will that had been developed
during the years of debate over tax reform.
This bill before us today is wholly inadequate. Not only does it add
to the deficit and kick the can down the road, but by only dealing with
extenders in a retroactive manner, it will not even encourage any
business investment in the future. Does anyone really believe that the
two weeks these provisions will be in effect will really encourage any
business make decisions about whether to hire more workers, or invest
in alternative energy, research and development, new equipment for
small businesses or development in disadvantaged communities?
A retroactive extension will do nothing for commuters in New Jersey,
who have been denied parity in their transit benefits for the last 11
months and will now be denied them again next year. It will do nothing
to encourage new development in renewable energy, including offshore
wind in my home state, as developers will have no certainty at all that
the critical tax credits in this bill will be there for them next year.
I want to be clear: I strongly support many of these tax provisions,
and I want to work with my colleagues on the other side of the aisle to
make many of them permanent. However, while this bare minimum approach
might help taxpayers and businesses who made decisions assuming
Congress would act responsibly, it is not in the country's long-term
interest. At a bare minimum, Congress should be extending these
provisions until the end of 2015, in a fiscally responsible way, and
then get back to work on real, permanent tax reform that ends this
destructive cycle of expiring and renewing temporary tax policy once
and for all.
Mr. CAMP. Mr. Speaker, I yield myself such time as I may consume.
I just want to say to my friend from New Jersey, I agree with you on
the need for certainty. We have heard today a lot of common discussion
about the need for certainty in our Tax Code and how difficult it is to
be the only country in the world that let's tax policy expire and what
that means for families and employers. But in terms of the concerns you
raise about the deficit, as the gentleman well knows, these measures
have never been offset. These measures have never been paid for,
whether it was a Republican majority or a Democrat majority. Whether it
was a Republican President or a Democrat President, these provisions
have never been paid for.
I would just say to the gentleman and to the Members of this body,
why do we need to raise taxes on somebody to keep taxes the same? What
we are doing is continuing current policy. In many cases, like R&D, it
has been continued since 1981. Let's call it what it is.
If we are continuing something in a piecemeal fashion every few
years, let's just make it permanent so we can get the benefits of those
provisions in terms of reliability and certainty, as the gentleman
raised, so that the small businesses all throughout the country can
actually plan and expect that these items will be in place.
I share the concerns that have been raised by a number of speakers.
Here we are at the end of 2014, retroactively putting in policies for
the whole year.
I reserve the balance of my time.
Mr. LEVIN. Mr. Speaker, I yield 2 minutes to the gentleman from
Illinois (Mr. Danny K. Davis) another member of our committee.
Mr. DANNY K. DAVIS of Illinois. Mr. Speaker, this 1-year retroactive
extension is not ideal. It is not the best that we should or could do.
It does little to provide certainty to individuals and businesses for
2015. My constituent, Mary Joe, still will not know whether she can
give money from her IRA to a Chicago charity without tax liability in
2015, nor does my constituent, Henry, know if he can receive enhanced
tax benefits for donating food to the Chicago Food Depository.
Further, I am deeply disappointed that this bill fails to extend the
Trade Adjustment Assistance for health care workers laid off through no
fault of their own. However, I believe that this bill may be our only
option for this year to provide these tax benefits for 2014 and to
ensure the taxpayers can begin filing their taxes and receiving their
refunds early next year. There are many provisions included that are
critical to Chicago and Illinois, and that must be covered in 2014.
This is not the best bill, but it is a necessary bill. I look forward
to working in a bipartisan way to ensure comprehensive permanent
reforms to the Tax Code that help all Americans, including provisions
that help the lowest income workers, such as the earned income tax
credit and enhanced child tax credit.
I end, Mr. Speaker, by commending Chairman Camp.
Mr. Camp, I commend you on your efforts to bring comprehensive tax
reform to the forefront, and I wish you well as you finish out a very
distinguished career in the people's House. Sir, I salute you.
Mr. CAMP. Mr. Speaker, I continue to reserve the balance of my time.
Mr. LEVIN. Mr. Speaker, I yield myself such time as I may consume.
You are never sure what is going to happen the next day around here,
so I am not sure if this is the last time you will be presenting a
bill--something could come up next week--but let me assume that it is
for just a moment and speak on a personal basis if I might. I hope the
speaker won't cut me off. You are not supposed to talk to each other,
so I will try to speak to you while I speak to the chair. I will try to
do both.
Around here we can question each other's positions. In a sense, that
is why we are here. Dave Camp leaves here having participated in a
discussion of substance and questioning each other's positions in a way
to try to come forth with legislation. But I think, in a rather unique
way, our chairman has been able to do that with complete integrity,
with complete seriousness--now and then a sense of humor, but complete
seriousness--and the ability to question within a framework of some
friendship.
So if this is your last management of a bill, I simply want to say
for myself and, more importantly, I think, for this institution, if I
might, that your decision to leave here means that you are leaving with
your head so high and with, I hope, a feeling of real accomplishment
and complete integrity and seriousness about your work. I am sure that
your constituents are very proud to have voted for you 12 times. That
was a commendable dozen.
So with some feeling of gratitude for having been able to serve with
you, Dave, I yield back the balance of my time.
Mr. CAMP. Mr. Speaker, I yield myself such time as I may consume.
I want to thank my friend, colleague, and partner on the Ways and
Means Committee from Michigan for those very gracious and kind remarks.
I think the Ways and Means Committee is the best committee in
Congress. We have a lot of bills that come to us. We have a lot of hard
decisions. There is a lot of discussion. As you know, this is a big
country and there are a lot of different opinions, but we always try to
find a way to at least do that in a manner that is productive for the
people we represent and that sent us here.
I want to thank you for the ability to work with you over these last
few years. Maybe I should have turned that 12 into a baker's dozen,
with all the kind remarks that have been said here today. I just want
thank you and thank the members of the committee and staff on both
sides of the aisle.
One of the things that is required in a committee like Ways and
Means, with all of the responsibilities, is a staff that is able to
work together as well.
{time} 1700
So they help make us do the job well. They help keep us informed and
really help make all the things that we do come together, including
items like this legislation today so, thank you.
I would just urge passage of H.R. 5771, what we call the extenders
bill, or the Tax Increase Prevention Act of 2014.
Mr. Speaker, I yield back the balance of my time.
The SPEAKER pro tempore. All time for debate has expired.
Pursuant to House Resolution 766, the previous question is ordered on
the bill, as amended.
The question is on the engrossment and third reading of the bill.
The bill was ordered to be engrossed and read a third time, and was
read the third time.
Motion to Recommit
Mr. NEAL. Mr. Speaker, I have a motion to recommit at the desk.
The SPEAKER pro tempore. Is the gentleman opposed to the bill?
[[Page H8341]]
Mr. NEAL. I am opposed to the bill in its current form, Mr. Speaker.
Mr. CAMP. Mr. Speaker, I reserve a point of order against the motion
to recommit.
The SPEAKER pro tempore. A point of order is reserved.
The Clerk will report the motion to recommit.
The Clerk read as follows:
Mr. NEAL moves to recommit the bill H.R. 5771 to the
Committee on Ways and Means with instructions to report the
same back to the House forthwith with the following
amendment:
Add at the end of title I the following (and conform the
table of contents accordingly):
Subtitle E--No Government Subsidies for Corporations That Move Their
Headquarters Overseas to Avoid Paying Taxes
SEC. 191. TAX BENEFITS DISALLOWED IN CASE OF INVERTED
CORPORATIONS.
(a) In General.--In the case of a taxpayer which is, or is
a member of an expanded affiliated group which includes, an
applicable inverted corporation, the Internal Revenue Code of
1986 shall be applied and administered as if the provisions
of, and amendments made by, this title (other than this
subtitle) had never been enacted.
(b) Applicable Inverted Corporations.--
(1) In general.--For purposes of this section, the term
``applicable inverted corporation'' means any foreign
corporation which--
(A) would be a surrogate foreign corporation under
subsection (a)(2) of section 7874 of the Internal Revenue
Code of 1986 if such subsection were applied by substituting
``80 percent'' for ``60 percent'', or
(B) is an inverted domestic corporation.
(2) Inverted domestic corporation.--For purposes of this
subsection, a foreign corporation shall be treated as an
inverted domestic corporation if, pursuant to a plan (or a
series of related transactions)--
(A) the entity completes after May 8, 2014, the direct or
indirect acquisition of--
(i) substantially all of the properties held directly or
indirectly by a domestic corporation, or
(ii) substantially all of the assets of, or substantially
all of the properties constituting a trade or business of, a
domestic partnership, and
(B) after the acquisition, either--
(i) more than 50 percent of the stock (by vote or value) of
the entity is held--
(I) in the case of an acquisition with respect to a
domestic corporation, by former shareholders of the domestic
corporation by reason of holding stock in the domestic
corporation, or
(II) in the case of an acquisition with respect to a
domestic partnership, by former partners of the domestic
partnership by reason of holding a capital or profits
interest in the domestic partnership, or
(ii) the management and control of the expanded affiliated
group which includes the entity occurs, directly or
indirectly, primarily within the United States, and such
expanded affiliated group has significant domestic business
activities.
(3) Exception for corporations with substantial business
activities in foreign country of organization.--A foreign
corporation described in paragraph (2) shall not be treated
as an inverted domestic corporation if after the acquisition
the expanded affiliated group which includes the entity has
substantial business activities in the foreign country in
which or under the law of which the entity is created or
organized when compared to the total business activities of
such expanded affiliated group. For purposes of applying
section 7874(a)(2)(B)(iii) of the Internal Revenue Code of
1986 and the preceding sentence, the term ``substantial
business activities'' shall have the meaning given such term
under Treasury regulations in effect on May 8, 2014, except
that the Secretary of the Treasury may issue regulations
increasing the threshold percent in any of the tests under
such regulations for determining if business activities
constitute substantial business activities for purposes of
this paragraph.
(4) Management and control.--For purposes of paragraph
(2)(B)(ii)--
(A) In general.--The Secretary of the Treasury shall
prescribe regulations for purposes of determining cases in
which the management and control of an expanded affiliated
group is to be treated as occurring, directly or indirectly,
primarily within the United States. The regulations
prescribed under the preceding sentence shall apply to
periods after May 8, 2014.
(B) Executive officers and senior management.--Such
regulations shall provide that the management and control of
an expanded affiliated group shall be treated as occurring,
directly or indirectly, primarily within the United States if
substantially all of the executive officers and senior
management of the expanded affiliated group who exercise day-
to-day responsibility for making decisions involving
strategic, financial, and operational policies of the
expanded affiliated group are based or primarily located
within the United States. Individuals who in fact exercise
such day-to-day responsibilities shall be treated as
executive officers and senior management regardless of their
title.
(5) Significant domestic business activities.--For purposes
of paragraph (2)(B)(ii), an expanded affiliated group has
significant domestic business activities if at least 25
percent of--
(A) the employees of the group are based in the United
States,
(B) the employee compensation incurred by the group is
incurred with respect to employees based in the United
States,
(C) the assets of the group are located in the United
States, or
(D) the income of the group is derived in the United
States,
determined in the same manner as such determinations are made
for purposes of determining substantial business activities
under regulations referred to in paragraph (3) as in effect
on May 8, 2014, but applied by treating all references in
such regulations to ``foreign country'' and ``relevant
foreign country'' as references to ``the United States''. The
Secretary of the Treasury may issue regulations decreasing
the threshold percent in any of the tests under such
regulations for determining if business activities constitute
significant domestic business activities for purposes of this
paragraph.
(c) Definitions.--For purposes of this section, the terms
``domestic corporation'', ``foreign corporation'', and
``expanded affiliated group'' shall each have the same
meaning as when used in section 7874 of the Internal Revenue
Code of 1986.
Mr. NEAL (during the reading). Mr. Speaker, I ask unanimous consent
that we dispense with the reading of the bill.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Massachusetts?
There was no objection.
The SPEAKER pro tempore. The gentleman from Massachusetts is
recognized for 5 minutes.
Mr. NEAL. Mr. Speaker, I am opposed to this bill in its current form,
and I want to remind colleagues that this amendment to the bill will
not kill the bill, nor will it send it back to committee, and, in fact,
if adopted, we will immediately proceed to final passage.
Mr. Speaker, we are here today debating this faulty effort for one
reason and one reason only: the failure fundamentally to change the Tax
Code.
Now, let me say to my friends, the praise delivered on behalf of Mr.
Camp is well-earned. But I also want to say something today. We all
love to say, ``I hate to say I told you so,'' but we really like to
say, ``I told you so.''
I told you so. The staff would be rich if they took that bet that I
offered not long ago on the very floor of this House.
Now, Mr. Camp, the wily sorcerer of tax policies that he is, he
employed every bit of magic at his disposal to bring forth tax reform.
He put together a great model and, for 3 years, without the glare of
publicity, we actually had an adult conversation between the parties,
principals and the stakeholders, who listened carefully to what
everyone had to say.
Unfortunately, the Republican leadership was not spellbound by the
sorcerer's good deeds. When he was pleased to release his tax proposal,
the leadership of the Republican side said, Blah, blah, blah.
Well, one blah in support of continuing uncertainty for the American
family and for business; two blahs, or a second blah, for cutting
economic growth and business investment; and finally, a third blah to
the lowest worker participation rate in 36 years.
Seven to 8 million Americans still looking for work, but we can't do
tax reform.
The last time we reformed our code, the Internet didn't exist, but we
can't do tax reform.
Economic growth at 2 percent, but we can't do tax reform.
Forty percent of the Business Roundtable's major alliances said this
week they plan on hiring new employees. That means 60 percent don't--
but we can't do tax reform.
Thirteen percent of these companies said they are committing to
investing in buying new equipment, but that means 87 percent are not.
Our inaction on tax reform is harming this economy, and it is not Mr.
Camp's fault. Rather than working on this bill and staying with it,
with wage stagnation, low worker participation rate, depressed business
investment, instead of addressing these problems, we are debating a
bill that, once the President signs it, we will immediately see it as
being outdated, and we are going to start the process all over again,
maybe in just a couple of days.
What we have before us, in terms of process, is the pinnacle of
congressional nonsense. This bill does not incentivize companies to
invest more; no more for research. We are rewarding companies for their
past behavior.
You cannot find any economist with credibility that will suggest that
retroactivity in the Tax Code is sound policy.
[[Page H8342]]
Pick up the newspaper and you are going to find very quickly that, as
we released this draft, over that same period of time, more companies
inverted. The sound of the dam breaking is all around us.
Recent reports have stated that the United States stands to lose $2
billion next year alone, and since the first inversion in 1982, we have
lost more than $9 billion. Sadly, these inversions are a part of an
epidemic that started a decade ago.
CRS points out that at least 47 companies have inverted since the
beginning of the last year, 19 inversion deals are still pending, and
14 more are sure to come in the coming year alone.
The Joint Committee on Taxation says now it is costing us $33.6
billion in lost tax revenue because of our inability to deal with
corporate tax inversions.
I understand the argument about tax avoidance versus tax evasion. We
have done a reasonably good job at cracking down on Switzerland and
Liechtenstein and other places, but we need to address this question of
Bermuda and these other tax havens where corporate residents of America
pay their fair share, and those who invert to escape taxes--while,
incidentally, we are engaged militarily across the globe with a
substantial bill--they feel as though they don't have to deliver
anything.
Now, my motion to recommit today is very simple. Those companies that
have inverted cannot take advantage of the very tax benefits that we
are going to vote upon in a few minutes, which, by the way, I favor
extending. If you have inverted, you should not be allowed the same
credits and deductions and exclusions that American businesses who have
stayed here dutifully, respectfully, and with great patriotic fervor
continue to pay.
I don't understand, for the life of me, why Republicans can't support
doing something about corporate tax inversions.
The SPEAKER pro tempore. The time of the gentleman has expired.
Mr. CAMP. Mr. Speaker, I withdraw my point of order and seek time in
opposition to the motion.
The SPEAKER pro tempore. The reservation is withdrawn.
The gentleman from Michigan is recognized for 5 minutes.
Mr. CAMP. Mr. Speaker, I would just say, in brief, there is nothing
in this motion to recommit that addresses the issues raised by my
friend from Massachusetts. The problems the gentleman identified are
not dealt with at all here.
Does this motion to recommit increase investment, create jobs, and
raise wages?
Does this motion to recommit create certainty in what is an uncertain
Tax Code with this process?
It doesn't. What this does is make our Tax Code more complex, makes
American workers and American employers less competitive, and it will
actually hurt our economy and stifle growth.
I urge a ``no'' vote on this motion to recommit, and I yield back the
balance of my time.
The SPEAKER pro tempore. Without objection, the previous question is
ordered on the motion to recommit.
There was no objection.
The SPEAKER pro tempore. The question is on the motion to recommit.
The question was taken; and the Speaker pro tempore announced that
the noes appeared to have it.
Mr. NEAL. Mr. Speaker, on that I demand the yeas and nays.
The yeas and nays were ordered.
The SPEAKER pro tempore. Pursuant to clause 8 and clause 9 of rule
XX, this 15-minute vote on the motion to recommit will be followed by
5-minute votes on the question of passage, if ordered, and passage of
H.R. 647.
The vote was taken by electronic device, and there were--yeas 197,
nays 223, not voting 14, as follows:
[Roll No. 543]
YEAS--197
Adams
Barber
Barrow (GA)
Bass
Beatty
Becerra
Bera (CA)
Bishop (GA)
Bishop (NY)
Blumenauer
Bonamici
Brady (PA)
Braley (IA)
Brown (FL)
Brownley (CA)
Bustos
Butterfield
Capps
Cardenas
Carney
Carson (IN)
Cartwright
Castor (FL)
Castro (TX)
Chu
Cicilline
Clark (MA)
Clarke (NY)
Clay
Cleaver
Clyburn
Cohen
Connolly
Conyers
Cooper
Costa
Courtney
Crowley
Cuellar
Cummings
Davis (CA)
Davis, Danny
DeFazio
DeGette
Delaney
DeLauro
DelBene
Deutch
Dingell
Doggett
Duncan (TN)
Edwards
Ellison
Engel
Enyart
Eshoo
Esty
Farr
Fattah
Foster
Frankel (FL)
Fudge
Gabbard
Gallego
Garamendi
Garcia
Grayson
Green, Al
Green, Gene
Grijalva
Gutierrez
Hahn
Hanabusa
Hastings (FL)
Heck (WA)
Higgins
Himes
Hinojosa
Holt
Honda
Horsford
Hoyer
Huffman
Israel
Jackson Lee
Jeffries
Johnson (GA)
Johnson, E. B.
Jones
Kaptur
Keating
Kelly (IL)
Kennedy
Kildee
Kilmer
Kind
Kirkpatrick
Kuster
Langevin
Larsen (WA)
Larson (CT)
Lee (CA)
Levin
Lewis
Lipinski
Loebsack
Lofgren
Lowenthal
Lowey
Lujan Grisham (NM)
Lujan, Ben Ray (NM)
Lynch
Maffei
Maloney, Carolyn
Maloney, Sean
Matheson
Matsui
McCollum
McDermott
McGovern
McIntyre
McNerney
Meeks
Meng
Michaud
Miller, George
Moore
Moran
Murphy (FL)
Nadler
Napolitano
Neal
Nolan
Norcross
O'Rourke
Owens
Pallone
Pascrell
Pastor (AZ)
Payne
Pelosi
Perlmutter
Peters (CA)
Peters (MI)
Peterson
Pingree (ME)
Pocan
Polis
Price (NC)
Quigley
Rahall
Rangel
Richmond
Roybal-Allard
Ruiz
Ruppersberger
Rush
Ryan (OH)
Sanchez, Linda T.
Sanchez, Loretta
Sarbanes
Schakowsky
Schiff
Schneider
Schrader
Schwartz
Scott (VA)
Scott, David
Serrano
Sewell (AL)
Shea-Porter
Sherman
Sinema
Sires
Slaughter
Smith (WA)
Speier
Swalwell (CA)
Takano
Thompson (CA)
Thompson (MS)
Tierney
Titus
Tonko
Tsongas
Van Hollen
Vargas
Veasey
Vela
Velazquez
Visclosky
Walz
Waters
Waxman
Welch
Wilson (FL)
Yarmuth
NAYS--223
Amash
Amodei
Bachmann
Bachus
Barletta
Barr
Barton
Benishek
Bentivolio
Bilirakis
Black
Blackburn
Boustany
Brady (TX)
Brat
Bridenstine
Brooks (AL)
Brooks (IN)
Broun (GA)
Buchanan
Bucshon
Burgess
Byrne
Calvert
Camp
Campbell
Carter
Cassidy
Chabot
Chaffetz
Clawson (FL)
Coble
Coffman
Cole
Collins (GA)
Collins (NY)
Conaway
Cook
Cotton
Cramer
Crawford
Crenshaw
Culberson
Daines
Davis, Rodney
Denham
Dent
DeSantis
DesJarlais
Diaz-Balart
Duffy
Duncan (SC)
Ellmers
Farenthold
Fincher
Fitzpatrick
Fleischmann
Fleming
Flores
Forbes
Fortenberry
Foxx
Franks (AZ)
Frelinghuysen
Gardner
Garrett
Gerlach
Gibbs
Gibson
Gingrey (GA)
Gohmert
Goodlatte
Gosar
Gowdy
Granger
Graves (GA)
Graves (MO)
Griffin (AR)
Griffith (VA)
Grimm
Guthrie
Hanna
Harper
Harris
Hartzler
Hastings (WA)
Heck (NV)
Hensarling
Herrera Beutler
Holding
Hudson
Huelskamp
Huizenga (MI)
Hultgren
Hunter
Hurt
Issa
Jenkins
Johnson (OH)
Johnson, Sam
Jolly
Jordan
Joyce
Kelly (PA)
King (IA)
King (NY)
Kingston
Kinzinger (IL)
Kline
Labrador
LaMalfa
Lamborn
Lance
Lankford
Latham
Latta
LoBiondo
Long
Lucas
Luetkemeyer
Lummis
Marchant
Marino
Massie
McAllister
McCarthy (CA)
McClintock
McHenry
McKinley
McMorris Rodgers
Meadows
Meehan
Messer
Mica
Miller (FL)
Miller (MI)
Mullin
Mulvaney
Murphy (PA)
Neugebauer
Noem
Nugent
Nunes
Nunnelee
Olson
Palazzo
Paulsen
Pearce
Perry
Petri
Pittenger
Pitts
Poe (TX)
Pompeo
Posey
Price (GA)
Reed
Reichert
Renacci
Ribble
Rice (SC)
Rigell
Roby
Roe (TN)
Rogers (AL)
Rogers (KY)
Rogers (MI)
Rohrabacher
Rokita
Rooney
Ros-Lehtinen
Roskam
Ross
Rothfus
Royce
Runyan
Ryan (WI)
Salmon
Sanford
Scalise
Schock
Schweikert
Scott, Austin
Sensenbrenner
Sessions
Shimkus
Shuster
Simpson
Smith (MO)
Smith (NE)
Smith (NJ)
Smith (TX)
Stewart
Stivers
Stockman
Stutzman
Terry
Thompson (PA)
Thornberry
Tiberi
Tipton
Turner
Upton
Valadao
Wagner
Walberg
Walden
Walorski
Weber (TX)
Webster (FL)
Wenstrup
Westmoreland
Whitfield
Williams
Wilson (SC)
Wittman
Wolf
Womack
Woodall
Yoder
Yoho
Young (AK)
Young (IN)
NOT VOTING--14
Aderholt
Bishop (UT)
Capito
Capuano
Doyle
Duckworth
Hall
McCarthy (NY)
McCaul
McKeon
Miller, Gary
Negrete McLeod
Southerland
Wasserman Schultz
{time} 1737
Messrs. PEARCE, BARR, BACHUS, YOHO, BRIDENSTINE, and Ms. GRANGER
changed their vote from ``yea'' to ``nay.''
Ms. EDWARDS and Mr. WAXMAN changed their vote from ``nay'' to
``yea.''
[[Page H8343]]
So the motion to recommit was rejected.
The result of the vote was announced as above recorded.
The SPEAKER pro tempore. The question is on the passage of the bill.
The question was taken; and the Speaker pro tempore announced that
the ayes appeared to have it.
Recorded Vote
Mr. BRADY of Texas. Mr. Speaker, I demand a recorded vote.
A recorded vote was ordered.
The SPEAKER pro tempore. This will be a 5-minute vote.
The vote was taken by electronic device, and there were--ayes 378,
noes 46, not voting 10, as follows:
[Roll No. 544]
AYES--378
Adams
Amodei
Bachmann
Bachus
Barber
Barletta
Barr
Barrow (GA)
Barton
Bass
Beatty
Benishek
Bentivolio
Bera (CA)
Bilirakis
Bishop (GA)
Bishop (NY)
Black
Blackburn
Bonamici
Boustany
Brady (PA)
Brady (TX)
Braley (IA)
Brat
Bridenstine
Brooks (AL)
Brooks (IN)
Brown (FL)
Brownley (CA)
Buchanan
Bucshon
Burgess
Bustos
Butterfield
Byrne
Calvert
Camp
Campbell
Capito
Capps
Cardenas
Carney
Carson (IN)
Carter
Cartwright
Cassidy
Castor (FL)
Castro (TX)
Chabot
Chaffetz
Chu
Cicilline
Clark (MA)
Cleaver
Clyburn
Coble
Coffman
Cohen
Cole
Collins (GA)
Collins (NY)
Conaway
Connolly
Conyers
Cook
Costa
Courtney
Cramer
Crawford
Crenshaw
Crowley
Cuellar
Culberson
Cummings
Daines
Davis (CA)
Davis, Danny
Davis, Rodney
DeFazio
DeGette
Delaney
DeLauro
DelBene
Denham
Dent
DeSantis
DesJarlais
Deutch
Diaz-Balart
Dingell
Doggett
Duncan (TN)
Edwards
Ellmers
Engel
Enyart
Eshoo
Esty
Farenthold
Farr
Fattah
Fincher
Fitzpatrick
Fleischmann
Flores
Forbes
Fortenberry
Foster
Foxx
Frankel (FL)
Franks (AZ)
Frelinghuysen
Fudge
Gabbard
Gallego
Garamendi
Garcia
Gardner
Gerlach
Gibbs
Gibson
Gingrey (GA)
Gohmert
Goodlatte
Gosar
Granger
Graves (GA)
Graves (MO)
Grayson
Green, Al
Green, Gene
Griffin (AR)
Griffith (VA)
Grimm
Guthrie
Gutierrez
Hahn
Hanabusa
Hanna
Harper
Hartzler
Hastings (WA)
Heck (NV)
Heck (WA)
Hensarling
Herrera Beutler
Higgins
Himes
Hinojosa
Holding
Holt
Honda
Horsford
Hoyer
Hudson
Huffman
Huizenga (MI)
Hultgren
Hunter
Hurt
Israel
Issa
Jackson Lee
Jeffries
Jenkins
Johnson (GA)
Johnson (OH)
Johnson, E. B.
Johnson, Sam
Jolly
Joyce
Kaptur
Keating
Kelly (IL)
Kelly (PA)
Kennedy
Kildee
Kilmer
Kind
King (IA)
King (NY)
Kingston
Kinzinger (IL)
Kirkpatrick
Kline
Kuster
LaMalfa
Lance
Langevin
Larsen (WA)
Larson (CT)
Latham
Latta
Levin
Lipinski
LoBiondo
Loebsack
Lofgren
Long
Lowenthal
Lowey
Lucas
Luetkemeyer
Lujan Grisham (NM)
Lujan, Ben Ray (NM)
Lynch
Maffei
Maloney, Carolyn
Maloney, Sean
Marchant
Marino
Massie
Matheson
Matsui
McAllister
McCarthy (CA)
McCaul
McCollum
McDermott
McGovern
McHenry
McIntyre
McKinley
McMorris Rodgers
McNerney
Meehan
Meeks
Meng
Messer
Mica
Michaud
Miller (FL)
Miller (MI)
Miller, George
Moore
Moran
Mullin
Murphy (FL)
Murphy (PA)
Nadler
Neal
Neugebauer
Noem
Nolan
Norcross
Nugent
Nunes
Nunnelee
Olson
Owens
Palazzo
Pastor (AZ)
Paulsen
Payne
Pearce
Pelosi
Perlmutter
Perry
Peters (CA)
Peters (MI)
Peterson
Petri
Pingree (ME)
Pittenger
Pitts
Poe (TX)
Posey
Price (GA)
Price (NC)
Quigley
Rahall
Rangel
Reed
Reichert
Renacci
Rice (SC)
Richmond
Rigell
Roby
Roe (TN)
Rogers (AL)
Rogers (KY)
Rogers (MI)
Rohrabacher
Rokita
Rooney
Ros-Lehtinen
Roskam
Ross
Rothfus
Roybal-Allard
Royce
Ruiz
Runyan
Ruppersberger
Rush
Ryan (OH)
Ryan (WI)
Salmon
Sanchez, Linda T.
Sanchez, Loretta
Sarbanes
Scalise
Schiff
Schneider
Schock
Schrader
Schwartz
Schweikert
Scott (VA)
Scott, Austin
Scott, David
Sensenbrenner
Serrano
Sessions
Sewell (AL)
Shea-Porter
Sherman
Shimkus
Simpson
Sinema
Sires
Slaughter
Smith (MO)
Smith (NE)
Smith (NJ)
Smith (TX)
Smith (WA)
Southerland
Speier
Stewart
Stivers
Stutzman
Swalwell (CA)
Takano
Terry
Thompson (MS)
Thompson (PA)
Thornberry
Tiberi
Tierney
Tipton
Titus
Tonko
Tsongas
Turner
Upton
Valadao
Van Hollen
Vargas
Veasey
Vela
Velazquez
Wagner
Walberg
Walden
Walorski
Walz
Wasserman Schultz
Waters
Waxman
Weber (TX)
Webster (FL)
Wenstrup
Westmoreland
Williams
Wilson (FL)
Wilson (SC)
Wittman
Wolf
Womack
Woodall
Yarmuth
Yoder
Yoho
Young (AK)
Young (IN)
NOES--46
Amash
Becerra
Blumenauer
Broun (GA)
Clarke (NY)
Clawson (FL)
Clay
Cooper
Cotton
Duffy
Duncan (SC)
Ellison
Fleming
Garrett
Gowdy
Grijalva
Harris
Hastings (FL)
Huelskamp
Jones
Jordan
Labrador
Lamborn
Lankford
Lee (CA)
Lewis
Lummis
McClintock
Meadows
Mulvaney
Napolitano
O'Rourke
Pallone
Pascrell
Pocan
Polis
Pompeo
Ribble
Sanford
Schakowsky
Shuster
Stockman
Thompson (CA)
Visclosky
Welch
Whitfield
NOT VOTING--10
Aderholt
Bishop (UT)
Capuano
Doyle
Duckworth
Hall
McCarthy (NY)
McKeon
Miller, Gary
Negrete McLeod
{time} 1745
So the bill was passed.
The result of the vote was announced as above recorded.
A motion to reconsider was laid on the table.
____________________