[Congressional Record Volume 171, Number 113 (Monday, June 30, 2025)]
[Senate]
[Pages S4110-S4111]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2719. Mr. HICKENLOOPER (for himself, Mr. Kelly, Mr. Booker, Mr. 
Welch, Ms. Smith, Ms. Rosen, and Mr. Heinrich) 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:

       Strike section 70506 and insert the following:

     SEC. 70506. TERMINATION OF RESIDENTIAL CLEAN ENERGY CREDIT.

       (a) In General.--Section 25D is amended by striking 
     subsection (h) and inserting the following new subsection:
       ``(h) Termination.--The credit allowed under this section 
     shall not apply with respect to any expenditures made after 
     December 31, 2026.''.
       (b) Conforming Amendments.--Section 25D(g) is amended--
       (1) in paragraph (2), by inserting ``and'' after the comma 
     at the end,
       (2) in paragraph (3), by striking ``and before January 1, 
     2033, 30 percent,'' and inserting ``30 percent.'', and
       (3) by striking paragraphs (4) and (5).
       (c) 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)--

[[Page S4111]]

       ``(i) the excess of taxable income over $100,000,000 
     ($50,000,000 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 
     each of such dollar amounts 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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