[Congressional Record Volume 167, Number 20 (Wednesday, February 3, 2021)]
[Senate]
[Page S396]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 474. Mr. PORTMAN submitted an amendment intended to be proposed by 
him to the concurrent resolution S. Con. Res. 5, setting forth the 
congressional budget for the United States Government for fiscal year 
2021 and setting forth the appropriate budgetary levels for fiscal 
years 2022 through 2030; which was ordered to lie on the table; as 
follows:

       At the appropriate place in title IV, add the following:

     SEC. 4___. POINT OF ORDER AGAINST INCREASING THE FEDERAL TAX 
                   RATE ON INCOME FROM FOREIGN CORPORATIONS TO A 
                   RATE HIGHER THAN CONTEMPLATED UNDER AN OECD 
                   GLOBAL MINIMUM TAX.

       (a) Point of Order.--
       (1) In general.--In the Senate, it shall not be in order to 
     consider a provision in a bill, joint resolution, motion, 
     amendment, amendment between the Houses, or conference report 
     that increases tax imposed on domestic companies' foreign 
     earnings, including by amending or replacing section 951A or 
     section 250 of the Internal Revenue Code of 1986, unless an 
     agreement to which the United States is a party is reached on 
     a global minimum tax by the Organisation for Economic Co-
     operation and Development that is supported by a bipartisan 
     majority of members of the Senate Committee on Finance.
       (2) Point of order sustained.--If a point of order is made 
     by a Senator against a provision described in paragraph (1), 
     and the point of order is sustained by the Chair, that 
     provision shall be stricken from the measure and may not be 
     offered as an amendment from the floor.
       (b) Form of the Point of Order.--A point of order under 
     subsection (a)(1) may be raised by a Senator as provided in 
     section 313(e) of the Congressional Budget Act of 1974 (2 
     U.S.C. 644(e)).
       (c) Conference Reports.--When the Senate is considering a 
     conference report on, or an amendment between the Houses in 
     relation to, a bill or joint resolution, upon a point of 
     order being made by any Senator pursuant to subsection 
     (a)(1), and such point of order being sustained, such 
     material contained in such conference report or House 
     amendment shall be stricken, and the Senate shall proceed to 
     consider the question of whether the Senate shall recede from 
     its amendment and concur with a further amendment, or concur 
     in the House amendment with a further amendment, as the case 
     may be, which further amendment shall consist of only that 
     portion of the conference report or House amendment, as the 
     case may be, not so stricken. Any such motion in the Senate 
     shall be debatable. In any case in which such point of order 
     is sustained against a conference report (or Senate amendment 
     derived from such conference report by operation of this 
     subsection), no further amendment shall be in order.
       (d) Supermajority Waiver and Appeal.--In the Senate, this 
     section may be waived or suspended only by an affirmative 
     vote of three-fifths of the Members, duly chose and sworn. An 
     affirmative vote of three-fifths of Members of the Senate, 
     duly chosen and sworn shall be required to sustain an appeal 
     of the ruling of the Chair on a point of order raised under 
     this section.
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