Chuck Grassley: “I turn to motion No. 6, which is my own. I ask for the reading of it. The PRESIDING OFFICER. Without objection, the…”

“I turn to motion No. 6, which is my own. I ask for the reading of it. The PRESIDING OFFICER. Without objection, the pending motion will be laid aside, and the clerk will report. The legislative clerk read as follows: Mr. Grassley moves that the managers on the part of the Senate at the conference on the disagreeing votes of the two Houses on the Senate amendment to the bill H.R. 4297 be instructed 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, based on the following: (1) In 2005, the combined maximum corporate tax rate and individual dividend tax rate in the United States was 50.8 percent. This rate was the eighth highest rate in the thirty- nation Organization for Economic Cooperation and Development, taking into account both national and subnational taxes. (2) If the top federal tax rate on dividend income would have been thirty-five percent, instead of fifteen percent, the combined tax rate would have been 62.9 percent, and would have been the second highest combined corporate and individual tax rate on corporate income in the OECD, behind only Japan.”