S.Amdt. 1641

SA 1641. Mr. RUBIO (for himself and Mr. Lee) submitted an amendment
intended to be proposed to amendment SA 1618 proposed by Mr. McConnell
(for Mr. Hatch (for himself and Ms. Murkowski)) to the bill H.R. 1, to
provide for reconciliation pursuant to titles II and V of the
concurrent resolution on the budget for fiscal year 2018; which was
ordered to lie on the table; as follows:

Strike section 11022 and insert the following:

SEC. 11022. INCREASE IN AND MODIFICATION OF CHILD TAX CREDIT.

(a) In General.--Section 24 is amended by adding at the end
the following new subsection:

``(h) Special Rules for Taxable Years 2018 Through 2025.--
``(1) In general.--In the case of a taxable year beginning
after December 31, 2017, and before January 1, 2026, this
section shall be applied as provided in paragraphs (2)
through (8).
``(2) Credit amount.--Subsection (a) shall be applied by
substituting `$2,000' for `$1,000'.
``(3) Limitation.--In lieu of the amount determined under
subsection (b)(2), the threshold amount shall be--
``(A) in the case of a joint return, $500,000, and
``(B) in the case of an individual who is not married or a
married individual filing a separate return, $250,000.
``(4) Definition of qualifying child.--Paragraph (1) of
subsection (c) shall be applied by substituting `18' for
`17'.
``(5) Partial credit allowed for certain other
dependents.--
``(A) In general.--The credit determined under subsection
(a) (after the application of paragraph (2)) shall be
increased by $500 for each dependent of the taxpayer (as
defined in section 152) other than a qualifying child
described in subsection (c) (after the application of
paragraph (4)).
``(B) Exception for certain noncitizens.--Subparagraph (A)
shall not apply with respect to any individual who would not
be a dependent if subparagraph (A) of section 152(b)(3) were
applied without regard to all that follows `resident of the
United States'.
``(6) Portion of credit refundable.--Subsection
(d)(1)(B)(i) shall be applied by substituting--
``(A) `15.3 percent' for `15 percent', and
``(B) `$0' for `$3,000'.
``(7) Adjustment for inflation.--
``(A) In general.--In the case of a taxable year beginning
after 2017, the $2,000 amount in paragraph (2) shall be
increased by an amount equal to--
``(i) such dollar amount, multiplied by
``(ii) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable
year begins.
``(B) Rounding.--Any increase determined under subparagraph
(A) shall be rounded to the next highest multiple of $100.
``(8) Social security number required.--No credit shall be
allowed under subsection (d) to a taxpayer with respect to
any qualifying child unless the taxpayer includes the social
security number of such child on the

[[Page S7475]]

return of tax for the taxable year. For purposes of the
preceding sentence, the term `social security number' means a
social security number issued to an individual by the Social
Security Administration, but only if the social security
number is issued to a citizen of the United States or is
issued pursuant to subclause (I) (or that portion of
subclause (III) that relates to subclause (I)) of section
205(c)(2)(B)(i) of the Social Security Act.''.

(b) Increase in Corporate Tax Rate.--Subsection (b) of
section 11, as amended by section 13001 of this Act, is
amended by striking ``20 percent'' and inserting ``22
percent''.

(c) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2017.
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