Bill Name: Deficit Reduction Act
Bill Description: A BILL

To reduce the deficit through the partial repeal of tax cuts enacted under former President George W. Bush.

SECTION 1. SHORT TITLE.

This Act may be cited as `The Deficit Reduction Act of 2007`.

SECTION 2. REPEAL OF BUSH TAX CUTS.

(a) Title V of the Economic Growth and Tax Relief Reconciliation Act of 2001 is hereby repealed.

(B)(i) The Top 2 Income Marginal Tax Rates for Individuals are hereby reverted to the percentages they were at prior to the Tax Relief Reconciliation Act of 2001 and any further tax cut Acts:

(ii) The top marginal tax rate is hereby 39.6% (for all taxable income above $336,550.)

(iii) The second highest marginal tax bracket is hereby 36% (for all taxable income from $154,801 to

$336,550.)

(iv) The reductions on capital gains taxes for individuals with taxable income exceeding $200,000 are hereby repealed.

SECTION 3. EXPECTED REVENUE.

(a) This Act is estimated to increase Government revenue by $274.3 billion yearly, according to Department of Treasury estimates. The money will go towards reducing the deficit.
Bill Author: Ben Cardin (D-MD)
Aye: 46
Nay: 42
Present: 9

Senators voting Aye:
Chuck Norris Eleden (D-AZ)
Eduardo Ramirez (D-CA)
Robert BettisCA (R-CA)
paragon12321 (D-CT)
Glen Davis (D-DE)
Davis Vitter Mason (D-DE)
Elvish Magi (D-FL)
Christopher Richards (D-FL)
Reaper (D-GA)
whatdoyouwant73 (D-HI)
Bobby Kennedy (D-IL)
Jerry Brown (D-IA)
Viagra Dole (L-KS)
Socialist Sebelius (L-KS)
Miles Porter (D-ME)
TomHatesSusanCollins (D-ME)
Krispy (D-MD)
Ben Cardin (D-MD)
Shane (D-MA)
Chas Ford (D-MI)
TomLovesCarlLevin (D-MI)
Michael Jay (D-MN)
Michael Jay 2 (D-MN)
Sod-Off Baldrick (D-MT)
NebulaWorld (D-MT)
UsamaBinForgotted (D-NV)
Jed Bartlet (D-NH)
Ed Diaz (D-NJ)
BillRichardson (D-NM)
Senator Elvish Magi (D-NY)
James B. Weaver (D-NY)
Stetson Kennedy (D-NC)
D. Hobson (R-ND)
Begoner4 (D-ND)
Stryker (D-OH)
Pedophile Eleden (D-OH)
Chas Wyden (D-OR)
Elos (D-OR)
John Winters (D-PA)
Tony Benn (D-RI)
Degree1 (D-RI)
dope2 (L-UT)
dope1 (L-UT)
Progressivevoice (D-VT)
Progressivevoice jr. (D-VT)
Shane Vaughn-Dugan (D-WV)

Senators voting Nay:
Scott (R-AL)
Ralph Alan (R-AL)
Matthew Faustini A1 (R-AK)
Addison McConnell (R-AK)
DFA3 (C-AZ)
Mike Huckabee (R-AR)
Savant (D-CO)
dzgCO (R-CO)
Liz Girard GA (R-GA)
Dakota BIock (R-HI)
Matthew Faustini ID2 (R-ID)
Marq'd4Death2 (R-ID)
Marq'd4Death3 (R-IN)
Senor Needles (R-IA)
FVPIX (R-KY)
dfa01 (C-KY)
Drew Brees (R-LA)
M. Broussard (R-LA)
Angela Merkel (R-MS)
dj brown jr (D-MO)
Rob-NE2 (R-NE)
Kat Scratch Fever (R-NV)
Martin (R-NH)
Savant NJ (D-NJ)
Ron Goatse (L-NM)
VitterOk (R-OK)
Corey Bowen OK (C-OK)
Frank Rizzo (D-PA)
RedBishop (R-SC)
dzgSC (R-SC)
Bill Buckner (R-SD)
Hr_Sveka (R-SD)
FVPXXIV (R-TN)
RoB-TN (R-TN)
dziggetai (R-TX)
Harry Byrd (D-VA)
southergentleman (R-VA)
Coal Miner (D-WV)
Mil Best (R-WI)
Brett Favre (D-WI)
Sox Marshal (R-WY)
The Tick (R-WY)

Senators answering "Present":
Beth Ariane (D-AR)
NebulaState (D-CT)
paragon12322 (D-IL)
It'sbucket (R-IN)
Quien es (D-MS)
DeRoyalgop (R-NE)
Joker of the Atlantic (R-NC)
Lone Star Husky (R-TX)
David Miller (D-WA)

Senators not voting yet:
Roseanne Connor (G-MA)
Nathan Fletcher (R-MO)
twoodard (D-WA)