[Congressional Record Volume 166, Number 55 (Saturday, March 21, 2020)]
[Senate]
[Page S1891]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 1562. Mr. HAWLEY submitted an amendment intended to be proposed by 
him to the bill S. 3548, to provide emergency assistance and health 
care response for individuals, families, and businesses affected by the 
2020 coronavirus pandemic; which was referred to the Committee on 
Finance; as follows:

       In section 2101, strike subsection (a) and insert the 
     following:

       (a) In General.--Subchapter B of chapter 65 of subtitle F 
     of the Internal Revenue Code of 1986 is amended by inserting 
     after section 6427 the following new section:

     ``SEC. 6428. 2020 RECOVERY REBATES FOR INDIVIDUALS.

       ``(a) In General.--In the case of an eligible individual, 
     there shall be allowed as a credit against the tax imposed by 
     subtitle A for the first taxable year beginning in 2020 an 
     amount equal to $1,200 ($2,400 in the case of a joint 
     return).
       ``(b) Child Benefit.--
       ``(1) In general.--In the case of a taxpayer described in 
     paragraph (2), the amount determined under subsection (a) 
     shall be increased by the product of $500 multiplied by the 
     number of qualifying children (within the meaning of section 
     24(c)) of the taxpayer.
       ``(2) Taxpayer described.--A taxpayer is described in this 
     paragraph if the taxpayer--
       ``(A) is a resident of the United States of America, and
       ``(B) has a valid Social Security number or Individual 
     Taxpayer Identification Number.
       ``(c) Treatment of Credit.--The credit allowed by 
     subsection (a) shall be treated as allowed by subpart C of 
     part IV of subchapter A of chapter 1.
       ``(d) Limitation Based on Adjusted Gross Income.--The 
     amount of the credit allowed by subsection (a) (determined 
     without regard to this subsection and subsection (f)) shall 
     be reduced (but not below zero) by 5 percent of so much of 
     the taxpayer's adjusted gross income as exceeds $75,000 
     ($150,000 in the case of a joint return).
       ``(e) Eligible Individual.--The term `eligible individual' 
     means any individual other than--
       ``(1) any nonresident alien individual,
       ``(2) any individual with respect to whom a deduction under 
     section 151 is allowable to another taxpayer for a taxable 
     year beginning in the calendar year in which the individual's 
     taxable year begins, and
       ``(3) an estate or trust.
       ``(f) Coordination With Advance Refunds of Credit.--
       ``(1) In general.--The amount of credit which would (but 
     for this paragraph) be allowable under this section shall be 
     reduced (but not below zero) by the aggregate refunds and 
     credits made or allowed to the taxpayer under subsection (g). 
     Any failure to so reduce the credit shall be treated as 
     arising out of a mathematical or clerical error and assessed 
     according to section 6213(b)(1).
       ``(2) Joint returns.--In the case of a refund or credit 
     made or allowed under subsection (g) with respect to a joint 
     return, half of such refund or credit shall be treated as 
     having been made or allowed to each individual filing such 
     return.
       ``(g) Advance Refunds and Credits.--
       ``(1) In general.--Subject to paragraph (5), each 
     individual who was an eligible individual for such 
     individual's first taxable year beginning in 2018 shall be 
     treated as having made a payment against the tax imposed by 
     chapter 1 for such first taxable year in an amount equal to 
     the advance refund amount for such taxable year.
       ``(2) Advance refund amount.--For purposes of paragraph 
     (1), the advance refund amount is the amount that would have 
     been allowed as a credit under this section for such first 
     taxable year if this section (other than subsection (f) and 
     this subsection) had applied to such taxable year.
       ``(3) Timing of payments.--The Secretary shall, subject to 
     the provisions of this title, refund or credit any 
     overpayment attributable to this section as rapidly as 
     possible. No refund or credit shall be made or allowed under 
     this subsection after December 31, 2020.
       ``(4) No interest.--No interest shall be allowed on any 
     overpayment attributable to this section.
       ``(5) Alternate taxable year.--In the case of an individual 
     who, at the time of any determination made pursuant to 
     paragraph (3), has not filed a tax return for the year 
     described in paragraph (1), the Secretary may apply such 
     paragraph by substituting `2019' for `2018'.
       ``(h) Identification Number Requirement.--
       ``(1) In general.--No credit shall be allowed under 
     subsection (a) to an eligible individual who does not include 
     on the return of tax for the taxable year--
       ``(A) such individual's valid identification number,
       ``(B) in the case of a joint return, the valid 
     identification number of such individual's spouse, and
       ``(C) in the case of any qualifying child taken into 
     account under subsection (b)(1)(B), the valid identification 
     number of such qualifying child.
       ``(2) Valid identification number.--
       ``(A) In general.--For purposes of paragraph (1), the term 
     `valid identification number' means a social security number 
     (as such term is defined in section 24(h)(7)).
       ``(B) Adoption taxpayer identification number.--For 
     purposes of paragraph (1)(C), in the case of a qualifying 
     child who is adopted, the term `valid identification number' 
     shall include the adoption taxpayer identification number of 
     such child.
       ``(i) Regulations.--The Secretary shall prescribe such 
     regulations or other guidance as may be necessary to carry 
     out the purposes of this section.''.
                                 ______
                                 
  SA 1563. Mr. PERDUE (for himself and Mr. Tillis) submitted an 
amendment intended to be proposed by him to the bill S. 3548, to 
provide emergency assistance and health care response for individuals, 
families, and businesses affected by the 2020 coronavirus pandemic; 
which was referred to the Committee on Finance; as follows:

        Strike section 2202 and insert the following:

     SEC. 2202. TEMPORARY SUSPENSION OF PAYROLL TAXES.

       (a) In General.--Notwithstanding any other provision of 
     law--
       (1) with respect to any taxable year which begins in the 
     payroll tax suspension period, the rate of tax under section 
     1401(a) of the Internal Revenue Code of 1986 shall be 0 
     percent,
       (2) with respect to remuneration received for pay periods 
     ending during the payroll tax suspension period, the rate of 
     tax under 3101(a) of such Code shall be 0 percent (including 
     for purposes of determining the applicable percentage under 
     sections 3201(a) and 3211(a)(1) of such Code), and
       (3) with respect to remuneration paid for pay periods 
     ending during the payroll tax suspension period, the rate of 
     tax under section 3111(a) of such Code shall be 0 percent 
     (including for purposes of determining the applicable 
     percentage under section 3221(a) of such Code).
       (b) Payroll Tax Suspension Period.--The term ``payroll tax 
     suspension period'' means so much of calendar year 2020 as 
     follows the date of the enactment of this Act.
       (c) Employer Notification.--The Secretary of the Treasury 
     shall notify employers of the payroll tax suspension period 
     in any manner the Secretary deems appropriate.
       (d) Transfers of Funds.--
       (1) Transfers to federal old-age and survivors insurance 
     trust fund.--There are hereby appropriated to the Federal 
     Old-Age and Survivors Trust Fund and the Federal Disability 
     Insurance Trust Fund established under section 201 of the 
     Social Security Act (42 U.S.C. 401) amounts equal to the 
     reduction in revenues to the Treasury by reason of the 
     application of subsection (a). Amounts appropriated by the 
     preceding sentence shall be transferred from the general fund 
     at such times and in such manner as to replicate to the 
     extent possible the transfers which would have occurred to 
     such Trust Fund had such amendments not been enacted.
       (2) Transfers to social security equivalent benefit 
     account.--There are hereby appropriated to the Social 
     Security Equivalent Benefit Account established under section 
     15A(a) of the Railroad Retirement Act of 1974 (45 U.S.C. 
     231n-1(a)) amounts equal to the reduction in revenues to the 
     Treasury by reason of the application of subsection (a). 
     Amounts appropriated by the preceding sentence shall be 
     transferred from the general fund at such times and in such 
     manner as to replicate to the extent possible the transfers 
     which would have occurred to such Account had such amendments 
     not been enacted.
       (3) Coordination with other federal laws.--For purposes of 
     applying any provision of Federal law other than the 
     provisions of the Internal Revenue Code of 1986, the rate of 
     tax in effect under section 3101(a) of such Code shall be 
     determined without regard to the reduction in such rate under 
     this section.

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