[Congressional Record Volume 161, Number 51 (Thursday, March 26, 2015)]
[Senate]
[Pages S2070-S2071]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1042. Mr. FRANKEN (for himself, Mr. Whitehouse, Ms. Baldwin, Mr. 
Brown, Ms. Warren, Mr. Sanders, and Mr. Reed) submitted an amendment 
intended to be proposed by him to the concurrent resolution S. Con. 
Res. 11, setting forth the congressional budget for the United States 
Government for fiscal year 2016 and setting forth the appropriate 
budgetary levels for fiscal years 2017 through 2025; which was ordered 
to lie on the table; as follows:


[[Page S2071]]


       At the appropriate place, insert the following:

     SEC. ___. DEFICIT-NEUTRAL RESERVE FUND RELATING TO CLOSING 
                   THE CARRIED INTEREST LOOPHOLE.

       The Chairman of the Committee on the Budget of the Senate 
     may revise the allocations of a committee or committees, 
     aggregates, and other appropriate levels in this resolution 
     for one or more bills, joint resolutions, amendments, 
     amendments between the Houses, motions, or conference reports 
     relating to the taxation of income from investment 
     partnerships (known as carried interest), which may include 
     legislation that allows for the taxing as ordinary income of 
     a partner's share of income on an investment services 
     partnership interest, by the amounts provided in such 
     legislation for those purposes, provided that such 
     legislation would not increase the deficit over either the 
     period of the total of fiscal years 2016 through 2020 or the 
     period of the total of fiscal years 2016 through 2025.
                                 ______