[Congressional Record Volume 167, Number 42 (Friday, March 5, 2021)]
[Senate]
[Page S1293]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 1013. Mr. TOOMEY (for himself and Mrs. Fischer) submitted an
amendment intended to be proposed to amendment SA 891 proposed by Mr.
Schumer (for himself, Mr. Wyden, Mrs. Murray, Mr. Brown, Mr. Peters,
Mr. Cardin, Ms. Cantwell, Ms. Stabenow, Mr. Tester, Mr. Menendez, Mr.
Schatz, Mr. Carper, Mr. Leahy, and Mr. Sanders) to the bill H.R. 1319,
to provide for reconciliation pursuant to title II of S. Con. Res. 5;
which was ordered to lie on the table; as follows:
On page 346, between lines 16 and 17, insert the
following:
``(3) Elimination of credit for individuals with no
reduction in income.--
``(A) In general.--In the case of any taxpayer whose
adjusted gross income for the first taxable year beginning in
2020 is equal to or greater than such taxpayer's adjusted
gross income for the first taxable year beginning in 2019,
the amount of the credit allowed by subsection (a) shall be
reduced to zero.
``(B) Regulations.--The Secretary shall issue such
regulations or other guidance as the Secretary determines
necessary or appropriate to carry out the purposes of
subparagraph (A), including regulations or other guidance
which provides for the application of such subparagraph where
the filing status of the taxpayer for the first taxable year
beginning in 2019 is different from the status of such
taxpayer for the first taxable year beginning in 2020.''.
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