Tax Increase Prevention and Reconciliation Act of 2005

Introduced in House

Referred to the House Committee on Ways and Means.

Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 15.

Reported (Amended) by the Committee on Ways and Means. H. Rept. 109-304.

Rules Committee Resolution H. Res. 588 Reported to House. Rule provides for consideration of H.R. 4297 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.

Motion by Senator Frist to commit to Senate Committee on Finance withdrawn in Senate by Unanimous Consent.

DEBATE - The House proceeded with one hour of debate on the Neal motion to instruct conferees. The instructions contained in the motion seek to require the managers on the part of the House to 1) agree to the provisions of section 106 of the Senate amendment (relating to extension and increase in minimum tax relief to individuals); 2) recede from the provisions of the House bill that extend the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2008; and, 3) insist, to the maximum extent possible within the scope of the conference, on a conference report that would not increase the Federal deficit for any year.

Message on House action received in Senate and at desk: House requests a conference.

Motion by Senator Grassley to instruct Senate conferees to insist on the inclusion in the final conference report of the funding to support the health needs of America's veterans and military personnel contained in section 315 of the Senate amendment and the funding to str agreed to in Senate by Yea-Nay Vote. 92 - 0. Record Vote Number: 14. (consideration: CR S1121)

Motion by Senator Grassley to instruct Senate conferees to report a reconciliation conference report ensuring that in 2009 and 2010, the international competitiveness of the United States in attracting capital investment, and therefore job creation, is not weakened further by a higher combined corporate and individual income tax rate on corporate and capital income as a result of a higher dividend tax rate withdrawn in Senate. (consideration: CR S1136, S1138)

DEBATE - The House proceeded with one hour of debate on the Tanner motion to instruct conferees. The instructions contained in the motion seek to require the managers on the part of the House, to the maximum extent possible within the scope of the conference, to insist on a conference report which will neither increase the Federal budget deficit nor increase the amount of the debt subject to the public debt limit.

Conference committee actions: Conference held.

DEBATE - The House proceeded with one hour of debate on the Rangel motion to instruct conferees. The instructions contained within the motion seek to (1) insist on the provisions of section 106 of the Senate amendment (relating to extension and increase in minimum tax relief to individuals) (2) recede from the provisions of the House bill that extend the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2008 and (3) insist on a confrerence report, to the maximum extent possible within the scope of conference, which will neither increase the Federal budget deficit nor increase the amount of the debt subject to the public debt limit.

DEBATE - The House proceeded with one hour of debate on the Cardin Motion to Instruct Conferees. Instructions contained within the motion seek to instruct the managers on the part of the House at the conference on the disagreeing votes of the two Houses on the Senate amendment (1) agree to the provisions of section 102 (relating to credit for elective deferrals and ira contributions), and section 108 (relating to extension and modification of research credit), of the Senate amendment (2) agree to the provisions of section 106 of the Senate amendment (relating to extension and increase in the minimum tax relief to individuals) (3) recede from the provisions of the House bill that extend the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2008 and (4) to the maximum extent possible within the scope of conference, insist on a conference report which will neither increase

Rules Committee Resolution H. Res. 805 Reported to House. Rule provides for consideration of the conference report to H.R. 4297 with 1 hour of general debate.

Conference report H. Rept. 109-455 filed. (text of conference report: CR H2209-2299)

Conference papers: held at the desk in Senate.

On motion to recommit with instructions to conference committee Failed by the Yeas and Nays: 190 - 239 (Roll no. 134).

Senate agreed to conference report by Yea-Nay Vote. 54 - 44. Record Vote Number: 118.

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 234 - 197 (Roll no. 621).(text: CR H11234-11237)

Motion by Senator Schumer to instruct Senate conferees to report a conference report that includes the Senate-passed provision to extend the above-the-line deduction for tuition and fees through December 31, 2009 (section 103), before it includes the House-passed extension of lower tax rates on capital gains and dividends (section 203) given budget constraints, noting that a conference report which maintains the tuition deduction will provide needed tax relief to more than 4,000,000 American families each year that are struggling to keep pace with rising tuition costs made in Senate. (consideration: CR S1119-1120)

Motion by Senator Grassley to instruct Senate conferees to report a final conference report that includes the "hold-harmless" relief from the individual alternative minimum tax in 2006 (sections 106 and 107 of the amendment passed by the Senate) to protect middle class families and includes an extension of lower tax rates on capital gains and dividends (based on section 203 of the bill passed by the House of Representatives) to protect tax cuts for middle class families agreed to in Senate by Yea-Nay Vote. 53 - 47. Record Vote Number: 16. (consideration: CR S1136, S1138)

Rule H. Res. 805 passed House.