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Supposed GOP Tax Bill Friday night at 614pm.pdf


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S.L.C.

O:\OTT\OTTl 7834.xml [file 2 of 5]

2

TITLE I

1

2 SEC. 11000. SHORT TITLE, ETC.

3

(a) SHORT TITLE.-This title may be cited as the

4 "Tax Cuts and Jobs Act".
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(b) AMENDMENT OF 1986 CoDE.-Except as other-

6 wise expressly provided, whenever in this title an amend7 ment or repeal is expressed in terms of an amendment
8 to, or repeal of, a section or other provision, the reference

9 shall be considered to be made to a section or other provi10 sion of the Internal Revenue Code of 1986.
11

Subtitle A-Individual Tax Reform

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PART I-TAX RATE REFORM

13 SEC. 11001. MODIFICATION OF RATES.
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(a) IN GENERAL.-Section 1 is amended by adding

15 at the end the following new subsection:
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"(j) MODIFICATIONS FOR TAXABLE YEARS 2018

17 THROUGH 2025.18

"(l) IN GENERAL.-In the case of a taxable

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year beginning after December 31, 2017, and before

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January 1, 2026-

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"(A) subsection (i) shall not apply, and

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'' (B) this section (other than subsection

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(i)) shall be applied as provided in paragraphs

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(2) through (7).

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"(2) RATE TABLES.-