[Congressional Record Volume 171, Number 113 (Monday, June 30, 2025)]
[Senate]
[Page S4097]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2696. Mr. OSSOFF (for himself, Ms. Baldwin, Mr. Warnock, Mr. 
Hickenlooper, Mr. Bennet, and Mr. Lujan) proposed an amendment 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; as follows:

        At the appropriate place, insert the following:

     SEC. _____. EXTENSION OF ENHANCED PREMIUM TAX CREDITS.

       (a) In General.--Section 36B(b)(3)(A)(iii) is amended--
       (1) by striking ``, and before January 1, 2026'', and
       (2) by striking ``2021 through 2025'' in the heading and 
     inserting ``years after 2020''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2025.

     SEC. _____. 39.6 PERCENT RATE BRACKET.

       (a) 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 
     ($5,000,000, in the case of married individuals filing 
     separate returns), 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 and $5,000,000 amounts by substituting 
     `2024' for `2017'.''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     2025.
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