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Supposed GOP Tax Bill Friday night at 614pm.pdf


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

S.L.C.

7

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"(i)

24-PERCENT

BRACKET.-The

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maximum taxable income which is taxed at

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a rate below 24 percent shall not be more

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than the earned taxable income of such

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child.

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"(ii)

35-PERCENT

BRACKET.-The

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maximum taxable income which is taxed at

8

a rate below 35 percent shall not be more

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than the sum of-

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" (I) the earned taxable income of
such child, plus

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"(II) the minimum taxable in-

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come for the 35-percent bracket in the

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table under paragraph (2)(E) (as ad-

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justed under paragraph (3)) for the

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taxable year.

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"(iii) 38.5-PERCENT BRACKET.-The

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maximum taxable income which is taxed at

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a rate below 38.5 percent shall not be

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more than the sum of-

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'' (I) the earned taxable income of
such child, plus

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"(II) the minimum taxable in-

24

come for the 38.5-percent bracket in

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the table under paragraph (2)(E) (as