S Amdt 2610 - Tax Rate Amendment - National Key Vote

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Title: Tax Rate Amendment

Vote Smart's Synopsis:

Vote on a motion to waive the Budget Act in order to adopt an amendment that restores the 39.6 percent income tax rate for individuals earning more than $1 million while reinstating the pre-May 2003 capital gains and dividends tax rates, and repealing the scheduled phase out and termination of the limitations on personal exemptions and itemized deductions.

NOTE: A MOTION TO WAIVE THE BUDGET ACT, IF ADOPTED, TEMPORARILY SETS ASIDE A SPECIFIC PROVISION OF THE BUDGET ACT OF 1974 SO THAT AN AMENDMENT THAT VIOLATES THE ACT MAY BE CONSIDERED. A 3/5 MAJORITY IS REQUIRED FOR ADOPTION.

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