S.Amdt. 1743

SA 1743. Mr. FLAKE 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:

At the appropriate place, insert the following:

SEC. 1____. MODIFICATIONS TO CORPORATE TAX RATE AND
EXPENSING.

(a) Increase in Corporate Tax Rate.--
(1) In general.--Section 11(b), as amended by section
13001, is amended by striking ``20 percent'' and inserting
``21 percent''.
(2) Effective date.--The amendment made by this subsection
shall apply to taxable years beginning after December 31,
2018.
(b) Extension of 100 Percent Expensing.--
(1) In general.--Section 168(k), as amended by section
13201 of this Act, is amended--
(A) in the heading, by striking ``January 1, 2023'' and
inserting ``January 1, 2027'',
(B) in paragraph (2)--
(i) in subparagraph (A)(iii), clauses (i)(III) and (ii) of
subparagraph (B), and subparagraph (E)(i), by striking
``January 1, 2023'' each place it appears and inserting
``January 1, 2027'', and
(ii) in subparagraph (B)--

(I) in clause (i)(II), by striking ``January 1, 2024'' and
inserting ``January 1, 2028'', and
(II) in the heading of clause (ii), by striking ``pre-
january 1, 2023'' and inserting ``pre-january 1, 2027'', and

(C) in paragraph (5)(A), by striking ``January 1, 2023''
and inserting ``January 1, 2027''.
(2) Conforming amendment.--Clause (ii) of section
460(c)(6)(B) is amended by striking ``January 1, 2023
(January 1, 2024'' and inserting ``January 1, 2027 (January
1, 2028''.
(3) Effective dates.--The amendments made by this
subsection shall take effect as if included in the amendments
made by section 13201 of this Act.
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