Not adopted
This amendment was never taken up, and the bill finished without it. It was never voted on.
Its path through Congress
- Introduced
- Pending Consideration
- Failed
What this amendment would do
Mr. Schiff submitted amendment SA 2467, which aims to change the bill by eliminating restrictions related to wind and solar facilities and by establishing a new individual income tax rate bracket.
The amendment makes several specific changes regarding energy credits and taxes. It amends the Clean Electricity Production Credit by striking paragraph (4) of subsection (d) and striking subsection (h). It amends the Clean Electricity Investment Credit by striking paragraph (4) of subsection (e) and striking subsection (i). It also strikes subsection (e) regarding Geothermal Heat Pumps, strikes subparagraph (D) of the Advanced Manufacturing Production Credit, and strikes section 5000E-1 concerning the Excise Tax on Certain Facilities.
Additionally, the amendment adds a 39.6 Percent Individual Income Tax Rate Bracket. It changes section 1(j)(2) to tax the excess of taxable income over $10,000,000 at a rate of 39.6 percent. This income tax rate change applies to taxable years beginning after December 31, 2025.
- 6/29/2025
- Senate amendment submitted
This bill has no cosponsors