H.R.4297: Tax Increase Prevention and Reconciliation Act of 2005

The previous question was ordered without objection.

POSTPONED PROCEEDINGS - At the conclusion of debate the Chair put the question on adoption of the motion to instruct and by voice vote announced that the noes had prevailed. Mr. Cardin demanded the yeas and nays and the Chair postponed further proceedings on adoption of the motion until later in the legislative day.

On motion that the House instruct conferees Failed by the Yeas and Nays: 196 - 232 (Roll no. 94).

Motion to reconsider laid on the table Agreed to without objection.

NOTICE OF INTENT TO OFFER MOTION TO INSTRUCT - Mr. McDermott notified the House of his intention to offer a motion to instruct conferees on H.R. 4297.

Mr. McDermott moved that the House instruct conferees.

DEBATE - The House proceeded with one hour of debate on the McDermott motion to instruct conferees. The instructions contained in the motion seek to require the managers on the part of the House to agree to the following provisions of the Senate amendment: sec. 461; sec. 462; sec. 470; and to 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.

The previous question was ordered without objection.

POSTPONED PROCEEDINGS - At the conclusion of debate on the McDermott motion to instruct conferees, the Chair put the question on adoption of the motion and by voice vote announced that the noes had prevailed. Mr. McDermott demanded the yeas and nays and the Chair postponed further proceedings until Thursday, April 27, 2006.

On motion that the House instruct conferees Failed by the Yeas and Nays: 190 - 232 (Roll no. 109).

Mr. Larson (CT) moved that the House instruct conferees.

DEBATE - The House proceeded with one hour of debate on the Larson (CT) motion to instruct conferees. Instructions seek to direct the managers on the part of the House to agree to the following provisions of the Senate: section 461 (relating to revaluation of LIFO inventories of larget integrated oil companies), section 462 (relating to elimination of amortization of geological and geophysical expenditures for major integrated oil companies), and section 470 (relating to modifications of foreign tax credit rules applicable to large integrated oil companies which are dual capacity taxpayers), and to 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.

The previous question was ordered without objection.

POSTPONED PROCEEDINGS - At the conclusion of debate on the Larson (CT) motion to instruct conferees, the Chair put the question on adoption of the motion and by voice vote announced that the noes had prevailed. Mr. Larson (CT) demanded the yeas and nays and the Chair postponed further proceedings until later in the legislative day.

Considered as unfinished business.

On motion that the House instruct conferees Failed by the Yeas and Nays: 197 - 224 (Roll no. 121).

Conference report H. Rept. 109-455 filed.

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.

Rule H. Res. 805 passed House.

Mr. Thomas brought up conference report H. Rept. 109-455 for consideration under the provisions of H. Res. 805.

DEBATE - The House proceeded with 60 minutes of debate on the conference report to accompany H.R. 4297.

The previous question was ordered without objection.

Mr. Rangel moved to recommit with instructions to the conference committee.

Instructions contained in the motion seek to require the managers on the part of the House to report back on or before May 17, 2006, a new conference report which (1) includes the maximum amount of relief for individuals from the alternative minimum tax permitted within the scope of conference; (2) does not include any extension of the lower tax rate on dividends and capital gains that would otherwise terminate at the close of 2006; and (3) to the maximum extent possible within the scope of conference, will neither increase the Federal budget deficit nor increase the amount of the debt subject to the public debt limit.

The previous question on the motion was ordered without objection.

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

On agreeing to the conference report Agreed to by recorded vote: 244 - 185 (Roll no. 135).

Motions to reconsider laid on the table Agreed to without objection.

Conference papers: held at the desk in Senate.

Conference report considered in Senate.

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

Message on Senate action sent to the House.

Cleared for White House.

Presented to President.

Signed by President.

Became Public Law No: 109-222.

Referred to the House Committee on Ways and Means.

Committee Consideration and Mark-up Session Held.

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.

Placed on the Union Calendar, Calendar No. 166.

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.

Rule H. Res. 588 passed House.

Considered under the provisions of rule H. Res. 588.

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.

DEBATE - The House proceeded with one hour of debate on H.R. 4297.

DEBATE - Pursuant to the provisions of H. Res. 588, the House proceeded with one hour of debate on the Rangel amendment in the nature of a substitute.

Mr. Rangel moved to recommit with instructions to Ways and Means.

Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Rangel motion to recommit with instructions.

The previous question on the motion to recommit with instructions was ordered without objection.

On motion to recommit with instructions Failed by the Yeas and Nays: 193 - 235 (Roll no. 620).

On passage Passed by the Yeas and Nays: 234 - 197 (Roll no. 621).

Motion to reconsider laid on the table Agreed to without objection.

Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 325.

Measure laid before Senate by unanimous consent.

Considered by Senate.

Motion by Senator Frist to commit to Senate Committee on Finance with instructions to report back forthwith with an amendment made in Senate.

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

Passed Senate with an amendment by Yea-Nay. 66 - 31. Record Vote Number: 10.

Message on Senate action sent to the House.

Mr. Thomas asked unanimous consent that the House disagree to the Senate amendment, and request a conference.

On motion that the House disagree to the Senate amendment, and request a conference Agreed to without objection.

Mr. Neal (MA) moved that the House instruct conferees.

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.

The previous question was ordered without objection.

POSTPONED PROCEEDINGS - At the conclusion of debate, the Chair put the question on adoption of the motion to instruct conferees and by voice vote, announced that the noes had prevailed. Mr. Neal demanded the yeas and nays and the Chair postponed further proceedings on the question of adoption of the motion until later in the legislative day.

On motion that the House instruct conferees Failed by the Yeas and Nays: 185 - 207 (Roll no. 7).

Motion to reconsider laid on the table Agreed to without objection.

The Speaker appointed conferees: Thomas, McCrery, Camp (MI), Rangel, and Stark.

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

Senate insists on its amendment and agrees to hold a conference.

Motion by Senator Kennedy to instruct Senate conferees to reject the extension of the capital gains and dividends rate reduction contained in section 203 of the bill as passed by the House of Representatives made in Senate.

Motion by Senator Dodd 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 instead of any extension of the tax breaks for capital gains and dividends for individuals with annual incomes greater than $1,000,000. made in Senate.

Motion by Senator Reed to instruct Senate conferees to insist on the inclusion in the final conference report of the funding to strengthen America's military contained in title VI of the Senate amendment instead of any extension of the tax cuts for capital gains and dividends, which does not expire until 2009, contained in section 203 of the bill as passed by the House of Representatives made in Senate.

Motion by Senator Wyden to instruct Senate conferees to insist on a provision that repeals accelerated depreciation for geologic and geophysical costs for oil and gas exploration by the 5 major oil companies made in Senate.

Motion by Senator Obama to instruct Senate conferees to insist that any final conference report shall provide tax relief for the most vulnerable members of our society, including the low-income victims of Hurricane Katrina and children in families that are too poor to benefit fully from the refundable child tax credit made in Senate.

Motion by Senator Hatch to instruct Senate conferees to insist on the inclusion in the final conference report of a permanent extension of the credit for increasing research activities (based on section 108 of the amendment passed by the Senate) made in Senate.

Motion by Senator DeWine to instruct Senate conferees to accept the veterans' mortgage bonds expansion provisions contained in section 303 of the bill as passed by the House of Representatives with such revisions as are necessary to provide veterans in all 50 States with access to lower-rate mortgages made in Senate.

Motion by Senator Menendez to instruct Senate conferees to report a conference report that includes the Senate-passed "hold-harmless" relief from the individual alternative minimum tax (AMT) in 2006, and does not include the extension of lower tax rates on capital gains and dividends made in Senate.

Motion by Senator Stabenow to instruct Senate conferees to insist on the inclusion in the final conference report of a permanent extension of the credit for increasing research activities and to reject any extension of the tax rate for capital gains and dividends which does not expire until 2009 made in Senate.

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 strengthen America's military contained in title VI of the Senate amendment made in Senate.

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 made in Senate.

Motion by Senator Lott to instruct Senate conferees to report a final conference report that includes the repeal of the individual alternative minimum tax (based on sections 106 and 107 of the amendment passed by the Senate) made in Senate.

Motion by Senator Hutchison to instruct Senate conferees to insist on the inclusion in the final conference report of a permanent extension of the election to deduct State and local general sales taxes (based on section 105 of the amendment passed by the Senate) made in Senate.

Motion by Senator Santorum to instruct Senate conferees to report a final conference report that includes a permanent extension of the above-the-line deduction for tuition and fees (based on section 103 of the amendment passed by the Senate) made in Senate.

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 made in Senate.

Motion by Senator Talent to instruct Senate conferees to insist on the inclusion in the final conference report of a permanent extension of the modifications to the child tax credit made by the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003 made in Senate.

Motion by Senator Lautenberg to instruct Senate conferees to report a final conference report that does not increase the national debt of the United States made in Senate.

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.

Motion by Senator Dodd to instruct Senate conferees rejected in Senate by Yea-Nay Vote. 40 - 53. Record Vote Number: 15.

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.

Motion by Senator Kennedy to instruct Senate conferees rejected in Senate by Yea-Nay Vote. 47 - 53. Record Vote Number: 17.

Motion by Senator DeWine to instruct Senate conferees agreed to in Senate by Voice Vote.

Motion by Senator Wyden to instruct Senate conferees agreed to in Senate by Voice Vote.

Motion by Senator Talent to instruct Senate conferees agreed to in Senate by Voice Vote.

Motion by Senator Reed to instruct Senate conferees rejected in Senate by Yea-Nay Vote. 45 - 55. Record Vote Number: 18.

Motion by Senator Hutchison to instruct Senate conferees agreed to in Senate by Yea-Nay Vote. 75 - 25. Record Vote Number: 19.

Motion by Senator Lautenberg to instruct Senate conferees rejected in Senate by Yea-Nay Vote. 46 - 54. Record Vote Number: 20.

Motion by Senator Lott to instruct Senate conferees withdrawn in Senate.

Motion by Senator Menendez to instruct Senate conferees withdrawn in Senate.

Motion by Senator Santorum to instruct Senate conferees withdrawn in Senate.

Motion by Senator Schumer to instruct Senate conferees withdrawn in Senate.

Motion by Senator Hatch to instruct Senate conferees withdrawn in Senate.

Motion by Senator Stabenow to instruct Senate conferees withdrawn in Senate.

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.

Motion by Senator Obama to instruct Senate conferees withdrawn in Senate.

Senate appointed conferees. Grassley; Kyl; Baucus.

Message on Senate action sent to the House.

Conference held.

Mr. Tanner moved that the House instruct conferees.

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.

The previous question was ordered without objection.

POSTPONED PROCEEDINGS - At the conclusion of debate on the Tanner motion to instruct conferees, the Chair put the question on adoption of the motion and by voice vote, announced that the noes had prevailed. Mr. Tanner demanded the yeas and nays and the Chair postponed further proceedings until Thursday, March 16, 2006.

On motion that the House instruct conferees Agreed to by the Yeas and Nays: 222 - 187 (Roll no. 67).

Motion to reconsider laid on the table Agreed to without objection.

Mr. Rangel moved that the House instruct conferees.

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.

The previous question was ordered without objection.

POSTPONED PROCEEDINGS - At the conclusion of debate on the Rangel motion to instruct conferees, the Chair put the question on adoption of the motion and by voice vote announced that the noes had prevailed. Mr. Becerra demanded the yeas and nays and the Chair postponed further proceedings until later in the legislative day.

On motion that the House instruct conferees Failed by the Yeas and Nays: 192 - 229 (Roll no. 74).

Motion to reconsider laid on the table Agreed to without objection.

NOTIFICATION OF INTENT TO OFFER MOTION TO INSTRUCT - Mr. Cardin notified the House of his intention to offer a motion to instruct conferees on H.R. 4297.

NOTICE OF INTENT TO OFFER MOTION TO INSTRUCT - Mr. Cardin notified the House of his intent to offer a motion to instruct conferees on H.R. 4297.

Mr. Cardin moved that the House instruct conferees.

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