The correct answer is C) The bill goes back to the House.
What happens after the actions mentioned in the quote is that the bill goes back to the House.
When talking about taxes, the Constitution of the U.S. requires that taxation bills must originate in the U.S. House of Representatives. The name of the Committee of the U.S. House of Representatives that is responsible for the taxation bills is the Ways and Means. If a member of the Congress is already appointed to be part of the Ways and Means Committee, but congressmen want to be part of another committe, he/she can do so if he/she applies for a waiver. The congressional leadership of his/her party makes the decision.
Besides taxation, the Ways and Means Committee has jurisdiction over tariffs, Social Security, Medicare, unemployment benefits, child support laws, adoption programs and Temporary Assistance for Needy.