To support the health needs of our veterans and military personnel and reduce the deficit by making tax rates fairer for all Americans.
An amendment to H.R. 4297 [109th]: Tax Increase Prevention and Reconciliation Act of 2005.
| Offered: | Feb 2, 2006 |
| Sponsor: | Sen. Christopher Dodd [D-CT] |
| Actions: | Feb 2, 2006:
Amendment SA 2735 proposed by Senator Dodd to Amendment SA 2707. Feb 2, 2006:
Point of order raised in Senate with respect to amendment SA 2735. Feb 2, 2006:
Motion to waive the Budget Act with respect to amendment SA 2735 rejected in Senate by Yea-Nay Vote. 44 - 53. Record Vote Number: 7. Feb 2, 2006:
Amendment SA 2735 ruled out of order by the chair. |
For more information, see the the official record on THOMAS for S.Amdt. 2735.
Text of amendment
SA 2735. Mr. DODD (for himself, Mr. Kennedy, Mr. Kerry, Mr. Lautenberg, Mrs. Boxer, Ms. Mikulski, Mr. Akaka, Mr. Reed, and Mr. Salazar) proposed an amendment to amendment SA 2707 proposed by Mr. Frist (for Mr. Grassley (for himself and Mr. Baucus)) to the bill H.R. 4297, to provide for reconciliation pursuant to section 201(b) of the concurrent resolution on the budget for fiscal year 2006; as follows:
At the appropriate place, insert the following:
SEC. __. FUNDING FOR VETERANS HEALTH CARE AND DISABILITY COMPENSATION AND HOSPITAL INFRASTRUCTURE FOR VETERANS.
(a) Funding for Medical Services.--
(1) AUTHORIZATION OF APPROPRIATIONS.--There is hereby authorized to be appropriated for the Department of Veterans Affairs for the Veterans Health Administration for Medical Care amounts as follows:
(A) $900,000,000 for fiscal year 2006.
(B) $1,300,000,000 for fiscal year 2007.
(C) $1,500,000,000 for fiscal year 2008.
(D) $1,600,000,000 for fiscal year 2009.
(E) $1,600,000,000 for fiscal year 2010.
(2) SUPPLEMENT NOT SUPPLANT.--The amounts authorized to be appropriated by this subsection are in addition to any other amounts authorized to be appropriated for the Veterans Health Administration for Medical Care under any other provisions of law.
(b) Funding for Disability Compensation Benefits.--
(1) AUTHORIZATION OF APPROPRIATIONS.--There is hereby authorized to be appropriated for the Department of Veterans Affairs for the Veterans Benefits Administration for Compensation and Pensions amounts as follows:
(A) $2,300,000,000 for fiscal year 2006.
(B) $2,700,000,000 for fiscal year 2007.
(C) $3,000,000,000 for fiscal year 2008.
(D) $3,000,000,000 for fiscal year 2009.
(E) $3,000,000,000 for fiscal year 2010.
(2) SUPPLEMENT NOT SUPPLANT.--The amounts authorized to be appropriated by this subsection are in addition to any other amounts authorized to be appropriated for the Veterans Benefits Administration for Compensation and Pensions under any other provisions of law.
(c) Funding for Infrastructure Improvements for Hospitals Providing Health Care and Services to Veterans.--
(1) ESTABLISHMENT OF FUND.--There is hereby established on the books of the Treasury an account to be known as the ``Veterans Hospital Improvement Fund'' (in this subsection referred to as the ``Fund'').
(2) ELEMENTS.--The Fund shall consist of the following:
(A) $1,000,000,000, which shall be deposited in the Fund upon the enactment of this subsection.
(B) Any other amounts authorized for transfer to or deposit in the Fund by law.
(3) ADMINISTRATION.--The Funds shall be administered by the Secretary of Veterans Affairs.
(4) USE OF FUNDS.--
(A) IN GENERAL.--Amounts in the Fund shall be available expenditures for improvements of health facilities treating veterans, including military medical treatment facilities, medical centers and other facilities administered by the Secretary of Veterans Affairs for the provision of medical care and services to veterans, and other State, local, and private facilities providing medical care and services to veterans.
(B) APPLICATION FOR FUNDS.--A non-Federal health facility seeking amounts from the Fund shall submit to the Secretary of Veterans Affairs an application therefor setting forth such information as the Secretary shall require.
(C) AVAILABILITY.--Amounts in the Fund shall remain available until expended.
(d) Offset Through Modification of Tax Rates on Capital Gains and Dividends for Individuals With $1,000,000 or More of Taxable Income.--
(1) IN GENERAL.--Section 1(h) is amended by adding at the end the following new paragraph:
``(12) MODIFIED RATES FOR INDIVIDUALS WITH $1,000,000 OR MORE OF TAXABLE INCOME.--If a taxpayer has taxable income of $1,000,000 or more for any taxable year--
``(A) paragraph (11) (relating to dividends taxed as capital gain) shall not apply to any qualified dividend income of the taxpayer for the taxable year, and
``(B) paragraph (1)(C) shall be applied by substituting `20 percent' for `15 percent' with respect to the adjusted net capital gain of the taxpayer for the taxable year, determined by only taking into account gain or loss properly allocable to the portion of the taxable year after December 31, 2006.''
(2) APPLICATION TO MINIMUM TAX.--Section 55(b)(3) is amended by adding at the end the following new sentence: ``In the case of a taxpayer with alternative minimum taxable income of $1,000,000 or more for any taxable year, the rules of section 1(h)(12) shall apply for purposes of this paragraph.''
(3) EFFECTIVE DATES.--
(A) CAPITAL GAINS.--Section 1(h)(12)(B) of the Internal Revenue Code of 1986 (as added by paragraph (1)) shall apply to taxable years beginning after December 31, 2006.
(B) DIVIDEND RATES.--Section 1(h)(12)(A) of such Code (as added by paragraph (1)) shall apply to dividends received after December 31, 2006.
(4) APPLICATION OF JGTRRA SUNSET.--The amendments made by this subsection shall be subject to section 303 of the Jobs and Growth Tax Relief Reconciliation Act of 2003 to the same extent and in the same manner as the provision of such Act to which such amendment relates.
(As printed in the Congressional Record for the Senate on Feb 2, 2006.)
