S.Amdt. 1644

SA 1644. Mr. BROWN submitted an amendment intended to be proposed by
him 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:

[[Page S7477]]

At the appropriate place, insert the following:

SEC. ___. STRENGTHENING THE EARNED INCOME TAX CREDIT.

(a) In General.--
(1) Increased credit for individuals with no qualifying
children.--
(A) In general.--The table in subparagraph (A) of section
32(b)(2) is amended--
(i) by striking ``$4,220'' in the second column and
inserting ``$9,230''; and
(ii) by striking ``$5,280'' in the last column and
inserting ``$10,900''.
(B) Inflation adjustments.--Subparagraph (B) of section
32(j)(1) is amended--
(i) in clause (i)--

(I) by inserting ``(except as provided in clause (iii))''
after ``(b)(2)(A)''; and
(II) by striking ``and'' at the end;

(ii) in clause (ii), by striking the period at the end and
inserting ``, and''; and
(iii) by adding at the end the following new clause:
``(iii) in the case of the $9,230 and $10,900 amounts in
the table in subsection (b)(2)(A), by substituting `calendar
year 2017' for `calendar year 2016' in subparagraph (A)(ii)
of such section 1.''.
(2) Credit increase and reduction in phaseout for
individuals with no children.--The table contained in section
32(b)(1) is amended--
(A) by striking ``7.65'' in the second column of the fourth
row and inserting ``15.3''; and
(B) by striking ``7.65'' in the third column of the fourth
row and inserting ``15.3''.
(3) Credit allowed for certain childless individuals over
age 21.--Subclause (II) of section 32(c)(1)(A)(ii) is amended
by striking ``age 25'' and inserting ``age 21''.
(4) Effective dates.--The amendments made by this
subsection shall apply to taxable years beginning after
December 31, 2017.
(b) Adjustment to Corporate Tax Rate.--
(1) In general.--Section 11(b), as amended by section 13001
of this Act, is amended by striking ``20 percent'' and
inserting ``22 percent''.
(2) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after December 31,
2018.
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