[Congressional Record Volume 163, Number 7 (Wednesday, January 11, 2017)]
[Senate]
[Page S286]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 135. Mr. FRANKEN (for himself, Ms. Warren, Mr. Whitehouse, Ms. 
Baldwin, and Mr. Reed) submitted an amendment intended to be proposed 
by him to the concurrent resolution S. Con. Res. 3, setting forth the 
congressional budget for the United States Government for fiscal year 
2017 and setting forth the appropriate budgetary levels for fiscal 
years 2018 through 2026; which was ordered to lie on the table; as 
follows:

       At the end of title III, add the following:

     SEC. 3___. 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 2017 through 2021 or the 
     period of the total of fiscal years 2017 through 2026.
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