CONGRESS FOR VOTERS

Michael Bennet (D-CO)

S.Amdt. 2643

S.Amdt. 2643 · Senate amendment

A Democratic amendment with 7 Democratic cosponsors · See all 7 cosponsors

Changes H.R. 1 — One Big Beautiful Bill Act

Not adopted

This amendment was never taken up, and the bill finished without it. It was never voted on.

Its path through Congress

  1. Introduced
  2. Pending Consideration
  3. Failed

What this amendment would do

This amendment would strike sections 70514 and 70515 and replace them with new text.

The new text would change the advanced manufacturing production credit by stating that an eligible component cannot include any property that includes material assistance from a prohibited foreign entity.

It would also prevent a credit from being determined for any taxable year if the taxpayer is a prohibited foreign entity.

Additionally, the amendment would establish a 39.6 percent individual income tax rate bracket.

Under this new bracket, any taxable income that exceeds $10,000,000 would be taxed at a rate of 39.6 percent.

The tax rate changes would apply to taxable years beginning after December 31, 2025.