To provide middle class tax relief.

SA 1846. Mr. KAINE (for himself, Mr. Manchin, Mrs. McCaskill, and Mr.
Bennet) 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:

Beginning on page 95, strike line 7 and all that follows
through page 97, line 14 and insert the following:

Subtitle B--Permanent Individual Income Tax Relief for Middle Class

SEC. 12001. AMENDMENT OF INCOME TAX BRACKETS.

(a) Married Individuals Filing Joint Returns and Surviving
Spouses.--The table contained in subsection (a) of section 1
is amended to read as follows:

If taxable income is:                     The tax is:
------------------------------------------------------------------------
Not over $19,050..........................  10% of taxable income.
Over $19,050 but not over $77,400.........  $1,905, plus 12% of the
excess over $19,050.
Over $77,400 but not over $140,000........  $8,907, plus 22% of the
excess over $77,400.
Over $140,000 but not over $320,000.......  $22,679, plus 24% of the
excess over $140,000.
Over $320,000 but not over $400,000.......  $65,879, plus 32% of the
excess over $320,000.
Over $400,000 but not over $480,050.......  $91,479, plus 35% of the
excess over $400,000.
Over $480,050.............................  $119,496.50, plus 39.6% of
the excess over $480,050.

(b) Heads of Households.--The table contained in subsection
(b) of section 1 is amended to read as follows:

If taxable income is:                     The tax is:
------------------------------------------------------------------------
Not over $13,600..........................  10% of taxable income.
Over $13,600 but not over $51,800.........  $1,360, plus 12% of the
excess over $13,600.
Over $51,800 but not over $70,000.........  $5,944, plus 22% of the
excess over $51,800.
Over $70,000 but not over $160,000........  $9,948, plus 24% of the
excess over $70,000.
Over $160,000 but not over $200,000.......  $31,548, plus 32% of the
excess over $160,000.
Over $200,000 but not over $453,350.......  $44,348, plus 35% of the
excess over $200,000.
Over $453,350.............................  $133,020.50, plus 39.6% of
the excess over $453,350.

(c) Unmarried Individuals Other Than Surviving Spouses and
Heads of Households.--The table contained in subsection (c)
of section 1 is amended to read as follows:

If taxable income is:                     The tax is:
------------------------------------------------------------------------
Not over $9,525...........................  10% of taxable income.
Over $9,525 but not over $38,700..........  $952.50, plus 12% of the
excess over $9,525.
Over $38,700 but not over $70,000.........  $4,453.50, plus 22% of the
excess over $38,700.
Over $70,000 but not over $160,000........  $11,339.50, plus 24% of the
excess over $70,000.
Over $160,000 but not over $200,000.......  $32,939.50, plus 32% of the
excess over $160,000.
Over $200,000 but not over $426,700.......  $45,739.50, plus 35% of the
excess over $200,000.
Over $426,700.............................  $125,084.50, plus 39.6% of
the excess over $426,700.

(d) Married Individuals Filing Separate Returns.--The table
contained in subsection (d) of section 1 is amended to read
as follows:

If taxable income is:                     The tax is:
------------------------------------------------------------------------
Not over $9,525...........................  10% of taxable income.
Over $9,525 but not over $38,700..........  $952.50, plus 12% of the
excess over $9,525.
Over $38,700 but not over $70,000.........  $4,453.50, plus 22% of the
excess over $38,700.
Over $70,000 but not over $160,000........  $11,339.50, plus 24% of the
excess over $70,000.
Over $160,000 but not over $200,000.......  $32,939.50, plus 32% of the
excess over $160,000.
Over $200,000 but not over $240,026.......  $45,739.50, plus 35% of the
excess over $200,000.
Over $240,026.............................  $59,748.60, plus 39.6% of
the excess over $240,026.

(e) Estates and Trusts.--The table contained in subsection
(e) of section 1 is amended to read as follows:

If taxable income is:                     The tax is:
------------------------------------------------------------------------
Not over $2,550...........................  10% of taxable income.
Over $2,550 but not over $9,150...........  $255, plus 24% of the excess
over $2,550.
Over $9,150 but not over $12,700..........  $1,839, plus 35% of the
excess over $9,150.
Over $12,700..............................  $3,081.50, plus 39.6% of the
excess over $12,700.

(f) Inflation Adjustment.--Section 1(f)(2)(A), as amended
by this Act, is amended by striking ``1992'' and inserting
``2017''.
(g) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2025.

SEC. 12002. CORPORATE TAX RATE.

(a) In General.--Section 11(b), as amended by this Act, is
amended by striking ``20 percent'' and inserting ``25
percent''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2018.
______