[Congressional Record Volume 171, Number 112 (Saturday, June 28, 2025)]
[Senate]
[Page S3993]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2466. Mr. SCHIFF (for himself, Mr. Hickenlooper, Mr. Bennet, and 
Mr. Welch) submitted an amendment intended to be proposed to amendment 
SA 2360 proposed by Mr. Thune (for Mr. Graham) to the bill H.R. 1, to 
provide for reconciliation pursuant to title II of H. Con. Res. 14; 
which was ordered to lie on the table; as follows:

       On page 557, strike line 21 and all that follows through 
     page 561, line 2, and insert the following:
       (l) Establishment of 39.6 Percent Individual Income Tax 
     Rate Bracket.--
       (1) In general.--Section 1(j)(2) is amended by 
     redesignating subparagraph (F) as subparagraph (G) and by 
     inserting after subparagraph (E) the following new 
     subparagraph:
       ``(F) 39.6 percent rate bracket.--Notwithstanding 
     subparagraphs (A) through (E), in prescribing the tables 
     under this subsection for purposes of paragraph (3)(B)--
       ``(i) the excess of taxable income over $10,000,000, if 
     any, shall be taxed at a rate of 39.6 percent, and
       ``(ii) paragraph (3)(B)(i) shall be applied with respect to 
     such $10,000,000 amount by substituting `2024' for `2017'.''.
       (2) Effective date.--The amendments made by this subsection 
     shall apply to taxable years beginning after December 31, 
     2025.
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