Amendment111th Congress
Amendment in the nature of a substitute No. 3 printed in House Report 111-73 and offered as the Congressional Black Caucus Budget Substitute.
- Amendment Number
- 74
- Description
- Amendment in the nature of a substitute No. 3 printed in House Report 111-73 and offered as the Congressional Black Caucus Budget Substitute.
- Purpose
- An amendment in the nature of a substitute numbered 3 printed in House Report 111-73 to build upon the historic investments made by the President's budget and the Majority's budget. However, the budget builds on these investments by immediately repealing the 2001 and 2003 Bush-era tax cuts that benefit the wealthiest Americans. The budget also adds an extremely modest 0.565% surtax on adjustable gross income exceeding $500,000 for individuals ($1 million for joint filers). The budget shifts those savings and additional revenue towards Education, Health Care, Job Training, International Aid, Justice, Transportation, and Veterans, while still producing a five year deficit that is $67 billion smaller than the Majority's budget.
- Congress
- 111
- Type
- HAMDT
- Latest Action Date
- Apr 2, 2009
- Latest Action Text
- On agreeing to the Lee (CA) amendment (A003) Failed by recorded vote: 113 - 318, 1 Present (Roll no. 190).
- Latest Action Time
- 17:25:06
- Submitted Date
- Apr 2, 2009
- Chamber
- House of Representatives
- Update Date
- Dec 5, 2020