S.Amdt. 1851

SA 1851. Mr. RUBIO (for himself, Mr. Lee, Mr. Sasse, and Mr. Kennedy)
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 46, strike line 5 and all that follows
through page 48, line 21, and insert the following:
``(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 (7).

[[Page S7757]]

``(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) 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 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 ``20.94
percent''.
(c) Effective Date.--The amendments made by
______