[Congressional Record Volume 171, Number 113 (Monday, June 30, 2025)]
[Senate]
[Page S4099]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2699. Mr. WARNER 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:

        At the appropriate place, insert the following:

     SEC. _____. ABOVE-THE-LINE DEDUCTION OF EXPENSES OF 
                   PERFORMING ARTISTS.

       (a) In General.--Section 62(a)(2)(B) is amended--
       (1) by striking ``performing artists.--The deductions'' and 
     inserting the following: ``performing artists.--
       ``(i) In general.--The deductions'', and
       (2) by adding at the end the following new clauses:
       ``(ii) Phaseout.--The amount of expenses taken into account 
     under clause (i) shall be reduced (but not below zero) by 10 
     percentage points for each $2,000 ($4,000 in the case of a 
     joint return), or fraction thereof, by which the taxpayer's 
     gross income for the taxable year exceeds $100,000 (twice 
     such amount in the case of a joint return).
       ``(iii) Cost-of-living adjustment.--In the case of any 
     taxable year beginning in a calendar year after 2025, the 
     $100,000 amount under clause (ii) shall be increased by an 
     amount equal to--

       ``(I) such dollar amount, multiplied by
       ``(II) the cost-of-living adjustment determined under 
     section 1(f)(3) for the calendar year in which the taxable 
     year begins, determined by substituting `calendar year 2024' 
     for `calendar year 2016' in subparagraph (A)(ii) thereof.

     If any amount after adjustment under the preceding sentence 
     is not a multiple of $1,000, such amount shall be rounded to 
     the nearest multiple of $1,000.''.
       (b) Clarification Regarding Commission Paid to Performing 
     Artist's Manager or Agent.--Section 62(a)(2)(B)(i), as 
     amended by subsection (a), is amended by inserting before the 
     period at the end the following: ``, including any commission 
     paid to the performing artist's manager or agent''.
       (c) Increase in Threshold for Determining Nominal 
     Employers.--Section 62(b)(2) is amended--
       (1) by striking ``An individual'' and inserting the 
     following:
       ``(A) In general.--An individual'',
       (2) by striking ``$200'' and inserting ``$500'', and
       (3) by adding at the end the following new subparagraph:
       ``(B) Cost-of-living adjustment.--In the case of any 
     taxable year beginning in a calendar year after 2025, the 
     $500 amount under subparagraph (A) shall be increased by an 
     amount equal to--
       ``(i) such dollar amount, multiplied by
       ``(ii) the cost-of-living adjustment determined under 
     section 1(f)(3) for the calendar year in which the taxable 
     year begins, determined by substituting `calendar year 2024' 
     for `calendar year 2016' in subparagraph (A)(ii) thereof.
     If any amount after adjustment under the preceding sentence 
     is not a multiple of $50, such amount shall be rounded to the 
     nearest multiple of $50.''.
       (d) Technical and Conforming Amendments.--
       (1) Section 62(a)(2)(B)(i), as amended by the preceding 
     provisions of this Act, is amended by striking ``by him'' and 
     inserting ``by the performing artist''.
       (2) Section 62(b)(1) is amended by inserting ``and'' at the 
     end of subparagraph (A), by striking ``, and'' at the end of 
     subparagraph (B) and inserting a period, and by striking 
     subparagraph (C).
       (e) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2024.
                                 ______