Floor SpeechNeutral2026-06-03

Text of Senate Amendment 5488

Taxes

Context

On 2026-06-03, Senator Tammy Baldwin (D-WI) delivered a floor speech titled "Text Of Senate Amendment 5488" in the Senate.

Full Text

Text of Senate Amendment 5488

Congressional Record, Volume 172 Issue 94 (Wednesday, June 3, 2026) [Congressional Record Volume 172, Number 94 (Wednesday, June 3, 2026)] [Senate] [Page S2533] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 5488. Ms. BALDWIN (for herself and Mrs. Shaheen) submitted an amendment intended to be proposed to amendment SA 5453 proposed by Mr. Graham to the bill S. 2, to provide for reconciliation pursuant to title II of S. Con. Res. 33; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. _____. PERMANENT EXTENSION OF ENHANCED TAX CREDIT. (a) In General.--Subparagraph (A) of section 36B(c)(1) of the Internal Revenue Code of 1986 is amended by striking ``but does not exceed 400 percent''. (b) Applicable Percentages.-- (1) In general.--Subparagraph (A) of section 36B(b)(3) of the Internal Revenue Code of 1986 is amended to read as follows: ``(A) Applicable percentage.--The applicable percentage for any taxable year shall be the percentage such that the applicable percentage for any taxpayer whose household income is within an income tier specified in the following table shall increase, on a sliding scale in a linear manner, from the initial premium percentage to the final premium percentage specified in such table for such income tier: ------------------------------------------------------------------------ The initial The final ``In the case of household income (expressed premium premium as a percent of poverty line) within the percentage percentage following income tier: is-- is-- ------------------------------------------------------------------------ Up to 150 percent............................. 0 0 150 percent up to 200 percent................. 0 2.0 200 percent up to 250 percent................. 2.0 4.0 250 percent up to 300 percent................. 4.0 6.0 300 percent up to 400 percent................. 6.0 8.5 400 percent and higher........................ 8.5 8.5.''. ------------------------------------------------------------------------ (2) Conforming amendments relating to affordability of coverage.-- (A) Paragraph (1) of section 36B(c) of such Code is amended by striking subparagraph (E). (B) Subparagraph (C) of section 36B(c)(2) of such Code is amended by striking clause (iv). (C) Paragraph (4) of section 36B(c) of such Code is amended by striking subparagraph (F). (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2025. ______

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Text of Senate Amendment 5488 Congressional Record, Volume 172 Issue 94 (Wednesday, June 3, 2026) [Congressional Record Volume 172, Number 94 (Wednesday, June 3, 2026)] [Senate] [Page S2533] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 5488. Ms. BALDWIN (for herself and Mrs. Shaheen) submitted an amendment intended to be proposed to amendment SA 5453 proposed by Mr. Graham to the bill S. 2, to provide for reconciliation pursuant to title II of S. Con. Res. 33; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. _____. PERMANENT EXTENSION OF ENHANCED TAX CREDIT. (a) In General.--Subparagraph (A) of section 36B(c)(1) of the Internal Revenue Code of 1986 is amended by striking ``but does not exceed 400 percent''. (b) Applicable Percentages.-- (1) In general.--Subparagraph (A) of section 36B(b)(3) of the Internal Revenue Code of 1986 is amended to read as follows: ``(A) Applicable percentage.--The applicable percentage for any taxable year shall be the percentage such that the applicable percentage for any taxpayer whose household income is within an income tier specified in the following table shall increase, on a sliding scale in a linear manner, from the initial premium percentage to the final premium percentage specified in such table for such income tier: ------------------------------------------------------------------------ The initial The final ``In the case of household income (expressed premium premium as a percent of poverty line) within the percentage percentage following income tier: is-- is-- ------------------------------------------------------------------------ Up to 150 percent............................. 0 0 150 percent up to 200 percent................. 0 2.0 200 percent up to 250 percent................. 2.0 4.0 250 percent up to 300 percent................. 4.0 6.0 300 percent up to 400 percent................. 6.0 8.5 400 percent and higher........................ 8.5 8.5.''. ------------------------------------------------------------------------ (2) Conforming amendments relating to affordability of coverage.-- (A) Paragraph (1) of section 36B(c) of such Code is amended by striking subparagraph (E). (B) Subparagraph (C) of section 36B(c)(2) of such Code is amended by striking clause (iv). (C) Paragraph (4) of section 36B(c) of such Code is amended by striking subparagraph (F). (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2025. ______