II 

116TH CONGRESS 

1ST SESSION S. 1145 

To repeal the current Internal Revenue Code and replace it with a flat 

tax, thereby guaranteeing economic growth and fairness for all Americans. 

IN THE SENATE OF THE UNITED STATES 

APRIL 11, 2019 

Mr. SHELBY introduced the following bill; which was read twice and referred 

to the Committee on Finance 

A BILL 

To repeal the current Internal Revenue Code and replace 

it with a flat tax, thereby guaranteeing economic growth 

and fairness for all Americans. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 

4 (a) SHORT TITLE.—This Act may be cited as the 

5 ‘‘Simplified, Manageable, And Responsible Tax Act’’ or 

6 the ‘‘SMART Act’’. 

7 (b) TABLE OF CONTENTS.— 

Sec. 1. Short title; table of contents. 

TITLE I—TAX REDUCTION AND SIMPLIFICATION 

Sec. 101. Individual income tax. 

Sec. 102. Tax on business activities. 


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Sec. 103. Simplification of rules relating to qualified retirement plans. 

Sec. 104. Repeal of alternative minimum tax. 

Sec. 105. Repeal of credits. 

Sec. 106. Repeal of estate and gift taxes and obsolete income tax provisions. 

Sec. 107. Effective date. 

TITLE II—SUPERMAJORITY REQUIRED FOR TAX CHANGES 

Sec. 201. Supermajority required. 

1 TITLE I—TAX REDUCTION AND 

2 SIMPLIFICATION 

3 SEC. 101. INDIVIDUAL INCOME TAX. 

4 (a) IN GENERAL.—Section 1 of the Internal Revenue 

5 Code of 1986 is amended to read as follows: 

6 ‘‘SECTION 1. TAX IMPOSED. 

7 ‘‘There is hereby imposed on the taxable income of 

8 every individual a tax equal to 17 percent of the taxable 

9 income of such individual for such taxable year.’’. 

10 (b) TAXABLE INCOME.—Section 63 of the Internal 

11 Revenue Code of 1986 is amended to read as follows: 

12 ‘‘SEC. 63. TAXABLE INCOME. 

13 ‘‘(a) IN GENERAL.—For purposes of this subtitle, the 

14 term ‘taxable income’ means the excess of— 

15 ‘‘(1) the sum of— 

16 ‘‘(A) wages (as defined in section 3121(a) 

17 without regard to paragraph (1) thereof) which 

18 are paid in cash and which are received during 

19 the taxable year for services performed in the 

20 United States, 


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1 ‘‘(B) retirement distributions which are in2 cludible in gross income for such taxable year, 

3 plus 

4 ‘‘(C) amounts received under any law of 

5 the United States or of any State which is in 

6 the nature of unemployment compensation, over 

7 ‘‘(2) the standard deduction. 

8 ‘‘(b) STANDARD DEDUCTION.— 

9 ‘‘(1) IN GENERAL.—For purposes of this sub10 title, the term ‘standard deduction’ means the sum 

11 of— 

12 ‘‘(A) the basic standard deduction, plus 

13 ‘‘(B) the additional standard deduction. 

14 ‘‘(2) BASIC STANDARD DEDUCTION.—For pur15 poses of paragraph (1), the basic standard deduction 

16 is— 

17 ‘‘(A) $29,190 in the case of— 

18 ‘‘(i) a joint return, or 

19 ‘‘(ii) a surviving spouse (as defined in 

20 section 2(a)), 

21 ‘‘(B) $18,630 in the case of a head of 

22 household (as defined in section 2(b)), and 

23 ‘‘(C) $14,590 in the case of an indi24 vidual— 


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1 ‘‘(i) who is not married and who is 

2 not a surviving spouse or head of house3 hold, or 

4 ‘‘(ii) who is a married individual filing 

5 a separate return. 

6 ‘‘(3) ADDITIONAL STANDARD DEDUCTION.—For 

7 purposes of paragraph (1), the additional standard 

8 deduction is $6,290 for each dependent (as defined 

9 in section 152) who is described in section 151(c) 

10 for the taxable year and who is not required to file 

11 a return for such taxable year. 

12 ‘‘(c) RETIREMENT DISTRIBUTIONS.—For purposes of 

13 subsection (a), the term ‘retirement distribution’ means 

14 any distribution from— 

15 ‘‘(1) a plan described in section 401(a) which 

16 includes a trust exempt from tax under section 

17 501(a), 

18 ‘‘(2) an annuity plan described in section 

19 403(a), 

20 ‘‘(3) an annuity contract described in section 

21 403(b), 

22 ‘‘(4) an individual retirement account described 

23 in section 408(a), 

24 ‘‘(5) an individual retirement annuity described 

25 in section 408(b), 


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1 ‘‘(6) an eligible deferred compensation plan (as 

2 defined in section 457), 

3 ‘‘(7) a governmental plan (as defined in section 

4 414(d)), or 

5 ‘‘(8) a trust described in section 501(c)(18). 

6 Such term includes any plan, contract, account, annuity, 

7 or trust which, at any time, has been determined by the 

8 Secretary to be such a plan, contract, account, annuity, 

9 or trust. 

10 ‘‘(d) INCOME OF CERTAIN CHILDREN.—For purposes 

11 of this subtitle— 

12 ‘‘(1) an individual’s taxable income shall include 

13 the taxable income of each dependent child of such 

14 individual who has not attained age 14 as of the 

15 close of such taxable year, and 

16 ‘‘(2) such dependent child shall have no liability 

17 for tax imposed by section 1 with respect to such in18 come and shall not be required to file a return for 

19 such taxable year. 

20 ‘‘(e) INFLATION ADJUSTMENT.— 

21 ‘‘(1) IN GENERAL.—In the case of any taxable 

22 year beginning in a calendar year after 2020, each 

23 dollar amount contained in subsection (b) shall be 

24 increased by an amount determined by the Secretary 

25 to be equal to— 


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1 ‘‘(A) such dollar amount, multiplied by 

2 ‘‘(B) the cost-of-living adjustment for such 

3 calendar year. 

4 ‘‘(2) COST-OF-LIVING ADJUSTMENT.—For pur5 poses of paragraph (1), the cost-of-living adjustment 

6 for any calendar year is the percentage (if any) by 

7 which— 

8 ‘‘(A) the CPI for the preceding calendar 

9 year, exceeds 

10 ‘‘(B) the CPI for the calendar year 2019. 

11 ‘‘(3) CPI FOR ANY CALENDAR YEAR.—For pur12 poses of paragraph (2), the CPI for any calendar 

13 year is the average of the Consumer Price Index as 

14 of the close of the 12-month period ending on Au15 gust 31 of such calendar year. 

16 ‘‘(4) CONSUMER PRICE INDEX.—For purposes 

17 of paragraph (3), the term ‘Consumer Price Index’ 

18 means the last Consumer Price Index for all-urban 

19 consumers published by the Department of Labor. 

20 For purposes of the preceding sentence, the revision 

21 of the Consumer Price Index which is most con22 sistent with the Consumer Price Index for calendar 

23 year 1986 shall be used. 

24 ‘‘(5) ROUNDING.—If any increase determined 

25 under paragraph (1) is not a multiple of $10, such 


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1 increase shall be rounded to the next highest mul2 tiple of $10. 

3 ‘‘(f) MARITAL STATUS.—For purposes of this section, 

4 marital status shall be determined under section 7703.’’. 

5 SEC. 102. TAX ON BUSINESS ACTIVITIES. 

6 (a) IN GENERAL.—Section 11 of the Internal Rev7 enue Code of 1986 (relating to tax imposed on corpora8 tions) is amended to read as follows: 

9 ‘‘SEC. 11. TAX IMPOSED ON BUSINESS ACTIVITIES. 

10 ‘‘(a) TAX IMPOSED.—There is hereby imposed on 

11 every person engaged in a business activity a tax equal 

12 to 17 percent of the business taxable income of such per13 son. 

14 ‘‘(b) LIABILITY FOR TAX.—The tax imposed by this 

15 section shall be paid by the person engaged in the business 

16 activity, whether such person is an individual, partnership, 

17 corporation, or otherwise. 

18 ‘‘(c) BUSINESS TAXABLE INCOME.—For purposes of 

19 this section— 

20 ‘‘(1) IN GENERAL.—The term ‘business taxable 

21 income’ means gross active income reduced by the 

22 deductions specified in subsection (d). 

23 ‘‘(2) GROSS ACTIVE INCOME.— 


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1 ‘‘(A) IN GENERAL.—For purposes of para2 graph (1), the term ‘gross active income’ means 

3 gross receipts from— 

4 ‘‘(i) the sale or exchange of property 

5 or services in the United States by any 

6 person in connection with a business activ7 ity, and 

8 ‘‘(ii) the export of property or services 

9 from the United States in connection with 

10 a business activity. 

11 ‘‘(B) EXCHANGES.—For purposes of this 

12 section, the amount treated as gross receipts 

13 from the exchange of property or services is the 

14 fair market value of the property or services re15 ceived, plus any money received. 

16 ‘‘(C) COORDINATION WITH SPECIAL RULES

17 FOR FINANCIAL SERVICES, ETC.—Except as 

18 provided in subsection (e)— 

19 ‘‘(i) the term ‘property’ does not in20 clude money or any financial instrument, 

21 and 

22 ‘‘(ii) the term ‘services’ does not in23 clude financial services. 

24 ‘‘(3) EXEMPTION FROM TAX FOR ACTIVITIES OF

25 GOVERNMENTAL ENTITIES AND TAX-EXEMPT ORGAVerDate Sep 11 2014 02:22 Apr 18, 2019 Jkt 089200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\S1145.IS S1145

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1 NIZATIONS.—For purposes of this section, the term 

2 ‘business activity’ does not include any activity of a 

3 governmental entity or of any other organization 

4 which is exempt from tax under this chapter. 

5 ‘‘(d) DEDUCTIONS.— 

6 ‘‘(1) IN GENERAL.—The deductions specified in 

7 this subsection are— 

8 ‘‘(A) the cost of business inputs for the 

9 business activity, 

10 ‘‘(B) wages (as defined in section 3121(a) 

11 without regard to paragraph (1) thereof) which 

12 are paid in cash for services performed in the 

13 United States as an employee, and 

14 ‘‘(C) retirement contributions to or under 

15 any plan or arrangement which makes retire16 ment distributions (as defined in section 63(c)) 

17 for the benefit of such employees to the extent 

18 such contributions are allowed as a deduction 

19 under section 404. 

20 ‘‘(2) BUSINESS INPUTS.— 

21 ‘‘(A) IN GENERAL.—For purposes of para22 graph (1), the term ‘cost of business inputs’ 

23 means— 


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1 ‘‘(i) the amount paid for property sold 

2 or used in connection with a business ac3 tivity, 

4 ‘‘(ii) the amount paid for services 

5 (other than for the services of employees, 

6 including fringe benefits paid by reason of 

7 such services) in connection with a busi8 ness activity, and 

9 ‘‘(iii) any excise tax, sales tax, cus10 toms duty, or other separately stated levy 

11 imposed by a Federal, State, or local gov12 ernment on the purchase of property or 

13 services which are for use in connection 

14 with a business activity. 

15 Such term shall not include any tax imposed by 

16 chapter 2 or 21. 

17 ‘‘(B) EXCEPTIONS.—Such term shall not 

18 include— 

19 ‘‘(i) items described in subparagraphs 

20 (B) and (C) of paragraph (1), and 

21 ‘‘(ii) items for personal use not in 

22 connection with any business activity. 

23 ‘‘(C) EXCHANGES.—For purposes of this 

24 section, the amount treated as paid in connec25 tion with the exchange of property or services 


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1 is the fair market value of the property or serv2 ices exchanged, plus any money paid. 

3 ‘‘(e) SPECIAL RULES FOR FINANCIAL INTERMEDI4 ATION SERVICE ACTIVITIES.—In the case of the business 

5 activity of providing financial intermediation services, the 

6 taxable income from such activity shall be equal to the 

7 value of the intermediation services provided in such activ8 ity. 

9 ‘‘(f) EXCEPTION FOR SERVICES PERFORMED AS EM10 PLOYEE.—For purposes of this section, the term ‘business 

11 activity’ does not include the performance of services by 

12 an employee for the employee’s employer. 

13 ‘‘(g) CARRYOVER OF CREDIT-EQUIVALENT OF EX14 CESS DEDUCTIONS.— 

15 ‘‘(1) IN GENERAL.—If the aggregate deductions 

16 for any taxable year exceed the gross active income 

17 for such taxable year, the credit-equivalent of such 

18 excess shall be allowed as a credit against the tax 

19 imposed by this section for the following taxable 

20 year. 

21 ‘‘(2) CREDIT-EQUIVALENT OF EXCESS DEDUC22 TIONS.—For purposes of paragraph (1), the credit23 equivalent of the excess described in paragraph (1) 

24 for any taxable year is an amount equal to— 

25 ‘‘(A) the sum of— 


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1 ‘‘(i) such excess, plus 

2 ‘‘(ii) the product of such excess and 

3 the 3-month Treasury rate for the last 

4 month of such taxable year, multiplied by 

5 ‘‘(B) the rate of the tax imposed by sub6 section (a) for such taxable year. 

7 ‘‘(3) CARRYOVER OF UNUSED CREDIT.—If the 

8 credit allowable for any taxable year by reason of 

9 this subsection exceeds the tax imposed by this sec10 tion for such year, then (in lieu of treating such ex11 cess as an overpayment) the sum of— 

12 ‘‘(A) such excess, plus 

13 ‘‘(B) the product of such excess and the 3- 

14 month Treasury rate for the last month of such 

15 taxable year, shall be allowed as a credit 

16 against the tax imposed by this section for the 

17 following taxable year. 

18 ‘‘(4) 3-MONTH TREASURY RATE.—For purposes 

19 of this subsection, the 3-month Treasury rate is the 

20 rate determined by the Secretary based on the aver21 age market yield (during any 1-month period se22 lected by the Secretary and ending in the calendar 

23 month in which the determination is made) on out24 standing marketable obligations of the United States 


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1 with remaining periods to maturity of 3 months or 

2 less.’’. 

3 (b) TAX ON NONCASH COMPENSATION PROVIDED TO

4 EMPLOYEES NOT ENGAGED IN BUSINESS ACTIVITY.— 

5 Section 4977 of the Internal Revenue Code of 1986 is 

6 amended to read as follows: 

7 ‘‘SEC. 4977. TAX ON NONCASH COMPENSATION PROVIDED 

8 TO EMPLOYEES NOT ENGAGED IN BUSINESS 

9 ACTIVITY. 

10 ‘‘(a) IMPOSITION OF TAX.—There is hereby imposed 

11 a tax equal to 17 percent of the value of excludable com12 pensation provided during the calendar year by an em13 ployer for the benefit of employees to whom this section 

14 applies. 

15 ‘‘(b) LIABILITY FOR TAX.—The tax imposed by this 

16 section shall be paid by the employer. 

17 ‘‘(c) EXCLUDABLE COMPENSATION.—For purposes 

18 of subsection (a), the term ‘excludable compensation’ 

19 means any remuneration for services performed as an em20 ployee other than— 

21 ‘‘(1) wages (as defined in section 3121(a) with22 out regard to paragraph (1) thereof) which are paid 

23 in cash, 

24 ‘‘(2) remuneration for services performed out25 side the United States, and 


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1 ‘‘(3) retirement contributions to or under any 

2 plan or arrangement which makes retirement dis3 tributions (as defined in section 63(c)). 

4 ‘‘(d) EMPLOYEES TO WHOM SECTION APPLIES.— 

5 This section shall apply to an employee who is employed 

6 in any activity by— 

7 ‘‘(1) any organization which is exempt from 

8 taxation under this chapter, or 

9 ‘‘(2) any agency or instrumentality of the 

10 United States, any State or political subdivision of 

11 a State, or the District of Columbia.’’. 

12 SEC. 103. SIMPLIFICATION OF RULES RELATING TO QUALI13 FIED RETIREMENT PLANS. 

14 (a) IN GENERAL.—The following provisions of the In15 ternal Revenue Code of 1986 are hereby repealed: 

16 (1) NONDISCRIMINATION RULES.— 

17 (A) Paragraphs (4) and (5) of section 

18 401(a) (relating to nondiscrimination require19 ments). 

20 (B) Sections 401(a)(10)(B) and 416 (re21 lating to top heavy plans). 

22 (C) Section 401(a)(17) (relating to com23 pensation limit). 

24 (D) Paragraphs (3), (6), and (26) of sec25 tion 401(a), and section 410(b) (relating to 


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1 minimum participation and coverage require2 ments). 

3 (E) Paragraphs (3), (8), (11), (12), and 

4 (13) of section 401(k), and section 4979 (relat5 ing to actual deferral percentage). 

6 (F) Section 401(l) (relating to permitted 

7 disparity in plan contributions or benefits). 

8 (G) Section 401(m) (relating to non9 discrimination test for matching contributions 

10 and employee contributions). 

11 (H) Paragraphs (1)(D) and (12) of section 

12 403(b) (relating to nondiscrimination require13 ments). 

14 (I) Paragraphs (3) and (6) (other than 

15 subparagraph (A)(i) thereof) of section 408(k) 

16 (relating to simplified employee pensions). 

17 (2) CONTRIBUTION LIMITS.— 

18 (A) Sections 401(a)(16), 402(h)(2), 403(b) 

19 (3) and (4), and 415 (relating to limitations on 

20 benefits and contributions under qualified 

21 plans). 

22 (B) Sections 401(a)(30), 402(g), and 

23 403(b)(1)(E) (relating to limitation on exclu24 sion for elective deferrals). 


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1 (C) Paragraphs (3) and (7) of section 

2 404(a) (relating to percentage of compensation 

3 limits). 

4 (D) Section 404(l) (relating to limit on in5 cludible compensation). 

6 (3) RESTRICTIONS ON DISTRIBUTIONS.— 

7 (A) Section 72(t) (relating to 10 percent 

8 additional tax on early distributions from quali9 fied retirement plans). 

10 (B) Sections 401(a)(9), 403(b)(10), and 

11 4974 (relating to minimum distribution rules). 

12 (C) Section 402(e)(4) (relating to net un13 realized appreciation). 

14 (4) SPECIAL REQUIREMENTS FOR PLAN BENE15 FITTING SELF-EMPLOYED INDIVIDUALS.—Sub16 sections (a)(10)(A) and (d) of section 401. 

17 (5) PROHIBITION OF TAX-EXEMPT ORGANIZA18 TIONS AND GOVERNMENTS FROM HAVING QUALIFIED

19 CASH OR DEFERRED ARRANGEMENTS.—Section 

20 401(k)(4)(B). 

21 (b) EMPLOYER REVERSIONS OF EXCESS PENSION

22 ASSETS PERMITTED SUBJECT ONLY TO INCOME INCLU23 SION.— 


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1 (1) REPEAL OF TAX ON EMPLOYER REVER2 SIONS.—Section 4980 of the Internal Revenue Code 

3 of 1986 is hereby repealed. 

4 (2) EMPLOYER REVERSIONS PERMITTED WITH5 OUT PLAN TERMINATION.—Section 420 of such 

6 Code is amended to read as follows: 

7 ‘‘SEC. 420. TRANSFERS OF EXCESS PENSION ASSETS. 

8 ‘‘(a) IN GENERAL.—If there is a qualified transfer 

9 of any excess pension assets of a defined benefit plan 

10 (other than a multiemployer plan) to an employer— 

11 ‘‘(1) a trust which is part of such plan shall not 

12 be treated as failing to meet the requirements of sec13 tion 401(a) or any other provision of law solely by 

14 reason of such transfer (or any other action author15 ized under this section), and 

16 ‘‘(2) such transfer shall not be treated as a pro17 hibited transaction for purposes of section 4975. 

18 The gross income of the employer shall include the amount 

19 of any qualified transfer made during the taxable year. 

20 ‘‘(b) QUALIFIED TRANSFER.—For purposes of this 

21 section— 

22 ‘‘(1) IN GENERAL.—The term ‘qualified trans23 fer’ means a transfer— 

24 ‘‘(A) of excess pension assets of a defined 

25 benefit plan to the employer, and 


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1 ‘‘(B) with respect to which the vesting re2 quirements of subsection (c) are met in connec3 tion with the plan. 

4 ‘‘(2) ONLY 1 TRANSFER PER YEAR.—No more 

5 than 1 transfer with respect to any plan during a 

6 taxable year may be treated as a qualified transfer 

7 for purposes of this section. 

8 ‘‘(c) VESTING REQUIREMENTS OF PLANS TRANSFER9 RING ASSETS.—The vesting requirements of this sub10 section are met if the plan provides that the accrued pen11 sion benefits of any participant or beneficiary under the 

12 plan become nonforfeitable in the same manner which 

13 would be required if the plan had terminated immediately 

14 before the qualified transfer (or in the case of a partici15 pant who separated during the 1-year period ending on 

16 the date of the transfer, immediately before such separa17 tion). 

18 ‘‘(d) DEFINITION AND SPECIAL RULE.—For pur19 poses of this section— 

20 ‘‘(1) EXCESS PENSION ASSETS.—The term ‘ex21 cess pension assets’ means the excess (if any) of— 

22 ‘‘(A) the lesser of— 

23 ‘‘(i) the fair market value of the 

24 plan’s assets (reduced by the prefunding 

25 balance and funding standard carryover 


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1 balance determined under section 430(f)), 

2 or 

3 ‘‘(ii) the value of plan assets as deter4 mined under section 430(g)(3) after reduc5 tion under section 430(f), over 

6 ‘‘(B) 125 percent of the sum of the fund7 ing target and the target normal cost deter8 mined under section 430 for such plan year. 

9 ‘‘(2) COORDINATION WITH SECTIONS 430 AND

10 433.—In the case of a qualified transfer— 

11 ‘‘(A) any assets so transferred shall not, 

12 for purposes of this section and sections 430 

13 and 433, be treated as assets in the plan, and 

14 ‘‘(B) in the case of a CSEC plan, the plan 

15 shall be treated as having a net experience loss 

16 under section 433(b)(2)(B)(iv) in an amount 

17 equal to the amount of such transfer and for 

18 which amortization charges begin for the first 

19 plan year after the plan year in which such 

20 transfer occurs, except that such section shall 

21 be applied to such amount by substituting ‘10 

22 plan years’ for ‘5 plan years’.’’. 

23 SEC. 104. REPEAL OF ALTERNATIVE MINIMUM TAX. 

24 Part VI of subchapter A of chapter 1 of the Internal 

25 Revenue Code of 1986 is hereby repealed. 


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1 SEC. 105. REPEAL OF CREDITS. 

2 Part IV of subchapter A of chapter 1 of the Internal 

3 Revenue Code of 1986 is hereby repealed. 

4 SEC. 106. REPEAL OF ESTATE AND GIFT TAXES AND OBSO5 LETE INCOME TAX PROVISIONS. 

6 (a) REPEAL OF ESTATE AND GIFT TAXES.— 

7 (1) IN GENERAL.—Subtitle B of the Internal 

8 Revenue Code of 1986 is hereby repealed. 

9 (2) EFFECTIVE DATE.—The repeal made by 

10 paragraph (1) shall apply to the estates of decedents 

11 dying, and gifts and generation-skipping transfers 

12 made, after December 31, 2017. 

13 (b) REPEAL OF OBSOLETE INCOME TAX PROVI14 SIONS.— 

15 (1) IN GENERAL.—Except as provided in para16 graph (2), chapter 1 of the Internal Revenue Code 

17 of 1986 is hereby repealed. 

18 (2) EXCEPTIONS.—Paragraph (1) shall not 

19 apply to— 

20 (A) sections 1, 11, and 63 of such Code, 

21 as amended by this Act, 

22 (B) those provisions of chapter 1 of such 

23 Code which are necessary for determining 

24 whether or not— 

25 (i) retirement distributions are includ26 ible in the gross income of employees, or 


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1 (ii) an organization is exempt from 

2 tax under such chapter, and 

3 (C) subchapter D of such chapter 1 (relat4 ing to deferred compensation). 

5 SEC. 107. EFFECTIVE DATE. 

6 Except as otherwise provided in this title, the amend7 ments made by this title shall apply to taxable years begin8 ning after December 31, 2017. 

9 TITLE II—SUPERMAJORITY 

10 REQUIRED FOR TAX CHANGES 

11 SEC. 201. SUPERMAJORITY REQUIRED. 

12 (a) IN GENERAL.—It shall not be in order in the 

13 House of Representatives or the Senate to consider any 

14 bill, joint resolution, amendment thereto, or conference re15 port thereon that includes any provision that— 

16 (1) increases any Federal income tax rate, 

17 (2) creates any additional Federal income tax 

18 rate, 

19 (3) reduces the standard deduction, or 

20 (4) provides any exclusion, deduction, credit, or 

21 other benefit which results in a reduction in Federal 

22 revenues. 

23 (b) WAIVER OR SUSPENSION.—This section may be 

24 waived or suspended in the House of Representatives or 


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1 the Senate only by the affirmative vote of three-fifths of 

2 the Members, duly chosen and sworn. 

Æ 


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