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[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3053 Introduced in House (IH)]

108th CONGRESS
  1st Session
                                H. R. 3053

  To amend the Internal Revenue Code of 1986 to increase the top two 
 individual income tax rates and to repeal the capital gains treatment 
of dividend income, and to use the revenue therefrom to make emergency 
     supplemental appropriations for fiscal year 2004 for military 
 operations in Iraq and in support of the global war on terrorism and 
       for the relief and reconstruction of Iraq and Afghanistan.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                           September 9, 2003

  Mr. Wexler introduced the following bill; which was referred to the 
   Committee on Ways and Means, and in addition to the Committee on 
   Appropriations, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL

 
  To amend the Internal Revenue Code of 1986 to increase the top two 
 individual income tax rates and to repeal the capital gains treatment 
of dividend income, and to use the revenue therefrom to make emergency 
     supplemental appropriations for fiscal year 2004 for military 
 operations in Iraq and in support of the global war on terrorism and 
       for the relief and reconstruction of Iraq and Afghanistan.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Sacrifice and Responsibility Act''.

                 TITLE I--INCREASE IN FEDERAL REVENUES

SEC. 101. RESTORATION OF 2 TOP INDIVIDUAL INCOME TAX RATES.

    (a) In General.--The table contained in paragraph (2) of section 
1(i) of the Internal Revenue Code of 1986 (relating to reductions in 
rates after June 30, 2001) is amended to read as follows:

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                       ``In the case of taxable years                                                                                                              The corresponding percentages shall be substituted for  the following percentages:
                          beginning during calendar   ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                    year:                28%      31%      36%                                                                                                                                         39.6%
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                       2003..........................   25.0%    28.0%    33.0%                                                                                                                                        35.0%
                       2004 and thereafter...........   25.0%    28.0%    36.0%                                                                                                                                      39.6%''.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2002.

SEC. 102. REPEAL OF CAPITAL GAINS TREATMENT FOR DIVIDEND INCOME OF 
              INDIVIDUALS.

    Section 302 of the Jobs and Growth Tax Relief Reconciliation Act of 
2003, and the amendments made by such section, is hereby repealed. The 
Internal Revenue Code of 1986 shall be applied as if such section and 
amendments had never been enacted.

                 TITLE II--SUPPLEMENTAL APPROPRIATIONS

    The following sums are appropriated, out of any money in the 
Treasury not otherwise appropriated, to provide supplemental 
appropriations for fiscal year 2004:

                               CHAPTER 1

                    DEPARTMENT OF DEFENSE--MILITARY

 Military Operations in Iraq and in Support of Global War on Terrorism

    For expenses, not otherwise provided for, necessary for ongoing 
military operations in Iraq, operations authorized by Public Law 107-
40, and other operations and related activities in support of the 
global war on terrorism, $65,500,000,000.

                               CHAPTER 2

                     BILATERAL ECONOMIC ASSISTANCE

                  Funds Appropriated to the President

             iraq and afghanistan relief and reconstruction

    For expenses, not otherwise provided for, necessary for 
humanitarian, reconstruction, and related assistance in Iraq and 
Afghanistan, $21,100,000,000.

                               CHAPTER 3

                           GENERAL PROVISIONS

SEC. 201. EMERGENCY DESIGNATION.

    Each amount appropriated in this title is designated by the 
Congress as an emergency requirement pursuant to section 502 of H. Con. 
Res. 95 (108th Congress), the concurrent resolution on the budget for 
fiscal year 2004.

SEC. 202. PERIOD OF AVAILABILITY.

    No part of any appropriation contained in this title shall remain 
available for obligation beyond the current fiscal year, unless 
otherwise expressly provided in this title.
                                 <all>
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