Resolution providing for the consideration of H.R. 2166. A bill to amend the Internal Revenue Code of 1954 to provide for a refund of 1974 individual income taxes, to increase the low-income allowance and the percentage standard deduction, to provide a credit for certain earned income, to increase the investment credit.

Provides that upon the adoption of this resolution it shall be in order to move, clause 2(1)(6) of rule XI to the contrary notwithstanding, that the House resolve itself into the Committee of the Whole House on the State of the Union for the consideration of the bill (H.R. 2166) to amend the Internal Revenue Code of 1954 to provide for a refund of 1974 individual income taxes, to increase the low-income allowance and the percentage standard deduction, to provide a credit for certain income, to increase the investment credit, and for other purposes, and all points of order against said bill are hereby waived. Provides that debate, which shall be confined to the bill and to the amendment made in order by this resolution and shall continue not to exceed four hours, three hours to be equally divided and controlled by the chairman and ranking minority member of the Committee on Ways and Means, thirty minutes to be controlled by Representative Green of Pennsylvania, and thirty minutes to be controlled by Representative Charles Wilson of Texas, the bill shall be considered as having been read for amendment. Makes it in order to consider without the intervention of any point of order the amendment in the nature of a substitute recommended by the Committee on Ways and Means now printed in the bill as an original bill for the purpose of amendment, and said substitute shall be considered as having been read for amendment. Provides that no amendment to the bill or to said substitute shall be in order except (1) amendments offered by direction of the Committee on Ways and Means; (2) the text of the bill H.R. 3612 if offered as an amendment in the nature of a substitute for the said committee substitute; and (3) the amendment inserted on page E696 of the Congressional Record of Feburary 25, 1975, by Representative Green of Pennsylvania if offered either to the committee substitute or to the substitute tex of the bill H.R. 3612 if offered, and said ammendment. Provides that an amendment shall be in order, any rule of the House to the contrary notwithstanding, if offered by Representative Young of Alaska as an amendment to the amendment offered by Representative Green.