S.Amdt. 1653

SA 1653. 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:

Strike section 11002 and insert the following:

SEC. 11002. ADJUSTMENT TO CORPORATE TAX RATE.

(a) In General.--Section 11(b), as amended by section 13001
of this Act, is amended by striking ``20 percent'' and
inserting ``22 percent''.
(b) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2018.
(c) Conforming Amendments Relating to Inflation
Adjustments.--
(1) The following provisions, as added or amended by this
Act, are each amended by striking ``for `calendar year 2016'
in subparagraph (A)(ii) thereof'' and inserting ``for
`calendar year 1992' in subparagraph (B)'':
(A) Section 1(j)(3)(B)(i).
(B) Section 63(c)(7)(B)(ii)(II).
(C) Section 199A(e)(2)(B)(ii).
(D) Section 447(d)(2)(D)(ii)(II).
(E) Section 448(c)(4)(B)(ii).
(F) Section 461(l)(3)(B)(ii).
(G) Section 883(d)(2)(B).
(2) The following provisions, as added or amended by this
Act, are each amended by inserting ``, determined by
substituting `calendar year 2016' for `calendar year 1992' in
subparagraph (B) thereof'' after ``begins'':
(A) Section 24(h)(6)(B)(ii).
(B) Section 954(b)(3)(D)(ii).
(3) The following provisions, as added or amended by this
Act, are each amended by striking ``for `2016' in
subparagraph (A)(ii) thereof'' and inserting ``for `1992' in
subparagraph (B)'':
(A) Section 642(b)(2)(C)(iii)(ii)(bb).
(B) Section 3402(a)(3)(B)(ii).
(C) Section 6334(d)(4)(C)(ii).
(4) Section 1(f)(2)(A) is amended by striking ``,
determined by substituting `1992' for `2016' in paragraph
(3)(A)(ii)''.
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