,,ib ,union ,cal5d> ,no4 #bge #aaf? ,,congress #a/ ,session ,h4 ,r4 #ecgg ,report ,no4 #aaf-cde ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,decemb] #aj1 #bjai ,mr4 ,suozzi 7= himself1 ,mr4 ,?ompson ( ,cali=nia1 ,mr4 ,pascrell1 ,mr4 ,k+ ( ,new ,york1 ,mr4 ,bey]1 ,mr4 ,br5dan ,f4 ,boyle ( ,p5nsylvania1 ,ms4 ,judy ,*u ( ,cali=nia1 ,mr4 ,danny ,k4 ,davis ( ,ill9ois1 ,mr4 ,higg9s ( ,new ,york1 ,mr4 ,l>son ( ,connecticut1 ,mr4 ,panetta1 ,ms4 ,sn*ez1 ,mr4 ,s*neid]1 ,mr4 ,ca/5 ( ,ill9ois1 ,mr4 ,cisn]os1 ,mr4 ,correa1 ,ms4 ,craig1 ,mr4 ,engel1 ,ms4 ,e%oo1 ,mr4 ,kim1 ,mr4 ,lev9 ( ,cali=nia1 ,mrs4 ,l[ey1 ,mr4 ,mal9[ski1 ,mr4 ,meeks1 ,ms4 ,m5g1 ,mr4 ,morelle1 ,mr4 ,nadl]1 ,mr4 ,phillips1 ,ms4 ,port]1 ,mr4 ,rask91 ,miss ,rice ( ,new ,york1 ,mr4 ,rose ( ,new ,york1 ,ms4 ,%]rill1 ,mr4 ,sires1 ,mr4 ,trone1 ,ms4 ,und]wood1 ,mrs4 ,watson ,coleman1 ,mr4 ,c\rtney1 ,mr4 ,espaillat1 & ,mr4 ,h>d] ( ,cali=nia7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,decemb] #ac1 #bjai ,additional sponsors3 ,mr4 ,sean ,patrick ,maloney ( ,new ,york1 ,mr4 ,kri%namoor?i1 ,mr4 ,huffman1 ,mr4 ,gonzalez ( ,texas1 ,mr4 ,gomez1 ,ms4 ,wexton1 ,ms4 ,norton1 ,ms4 ,de,lauro1 ,mr4 ,t$ ,lieu ( ,cali=nia1 ,mr4 ,br[n ( ,m>yl&1 ,mr4 ,pallone1 ,mrs4 ,davis ( ,cali=nia1 & ,ms4 ,spei] ,decemb] #ac1 #bjai ,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be pr9t$ ,/rike out all aft] ! enact+ clause & ins]t ! "p pr9t$ 9 italic ,= text ( introduc$ bill1 see copy ( bill z introduc$ on ,decemb] #aj1 #bjai ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to modify ! limitation on d$uction ( ,/ate & local taxes1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,re/or+ ,tax ,fairness = ,/ates & ,localities ,act4 #b4 ,elim9ation = #bjai ( m>riage p5alty 9 limitation on d$uction ( ,/ate & local taxes 7a7 ,9 g5]al ,section #afd7;b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#g7 ,special rule = limitation on individual d$uctions = #bjai ,9 ! case ( a taxable ye> beg9n+ aft] ,decemb] #ca1 #bjah1 & be=e ,janu>y #a1 #bjbj1 p>agraph 7#f7 %all be appli$ by sub/itut+ 7#bj1jjj 9 ! case ( a jo9t return7 = 7#e1jjj 9 ! case ( a m>ri$ individual fil+ a sep>ate return74 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjah4 #c4 ,elim9ation = #bjbj & #bjba ( limitation on d$uction ( ,/ate & local taxes 7a7 ,9 g5]al ,section #afd7;b77#f77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ 9 ! case ( a taxable ye> beg9n+ be=e ,janu>y #a1 #bjbj1 or aft] ,decemb] #ca1 #bjba1 be=e ! aggregate am\nt ( taxes4 7b7 ,con=m+ am5dm5ts ,section #afd7;b77#f7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by /rik+ ,= purposes ( subp>agraph 7,b7 & ins]t+ ,= purposes ( ?is section1 7#b7 by /rik+ ,janu>y #a1 #bjah & ins]t+ ,janu>y #a1 #bjbb1 7#c7 by /rik+ ,decemb] #ca1 #bjag1 %all & ins]t+ ,decemb] #ca1 #bjba1 %all1 & 7#d7 by add+ at ! end ! foll[+3 ,= purposes ( ?is section1 9 ! case ( ,/ate or local taxes ) respect to any real or p]sonal prop]ty paid dur+ a taxable ye> beg9n+ 9 #bjbj or #bjba1 ! ,secret>y %all prescribe rules :i* treat all or a portion ( su* taxes z paid 9 a taxable ye> or ye>s o!r ?an ! taxable ye> 9 :i* actually paid z necess>y or appropriate to prev5t ! avoidance ( ! limitations ( ?is subsection44 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxes paid or accru$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4 #d4 ,increase 9 d$uction = c]ta9 exp5ses ( elem5t>y & second>y s*ool tea*]s 7a7 ,increase ,section #fb7;a77#b77;,d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ #bej & ins]t+ #ejj4 7b7 ,con=m+ am5dm5ts ,section #fb7;d77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by /rik+ #bjae & ins]t+ #bjai1 7#b7 by /rik+ #bej & ins]t+ #ejj1 & 7#c7 9 subp>agraph 7,b71 by /rik+ #bjad & ins]t+ #bjah4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjah4 #e4 ,above-!-l9e d$uction all[$ = c]ta9 exp5ses ( fir/ respond]s 7a7 ,9 g5]al ,section #fb7;a77#b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,f7 ,c]ta9 exp5ses ( fir/ respond]s ,! d$uctions all[$ by section #afb :i* consi/ ( exp5ses1 n 9 excess ( #ejj1 paid or incurr$ by a fir/ respond]-- 7i7 z tuition or fees = ! p>ticipation ( ! fir/ respond] 9 pr(essional developm5t c\rses relat$ to s]vice z a fir/ respond]1 or 7ii7 = uni=ms us$ by ! fir/ respond] 9 s]vice z a fir/ respond]4 4 7b7 ,fir/ respond] def9$ ,section #fb7;d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#d7 ,fir/ respond] ,= purposes ( subsection 7a77#b77;,f71 ! t]m fir/ respond] means1 ) respect to any taxable ye>1 any individual :o is employ$ z a law en=cem5t (fic]1 firefight]1 p>am$ic1 or em]g5cy m$ical te*nician = at lea/ #ajjj h\rs dur+ su* taxable ye>4 4 7c7 ,inflation adju/m5t ,section #fb7;d77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by section #d1 is fur!r am5d$ by /rik+ ! #ejj am\nt 9 subsection 7a77#b77;,d7 & ins]t+ ! #ejj am\nt 9 ea* ( subp>agraphs 7,d7 & 7,f7 ( subsection 7a77#b74 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4 #f4 ,increase ( top m>g9al individual income tax rate "u tempor>y rules 7a7 ,9 g5]al ,! tables conta9$ 9 subp>agraphs 7,a71 7,b71 7,c71 7,d71 & 7,e7 ( section #a7;j77#b7 ( ! ,int]nal ,rev5ue ,code ( #aihf are ea* am5d$ by /rik+ #cg & ins]t+ #ci4f &-- 7#a7 9 subp>agraph 7,a7-- 7,a7 by /rik+ #fjj1jjj ea* place su* t]m appe>s & ins]t+ #dgi1jjj1 & 7,b7 by /rik+ #afa1cgi & ins]t+ #aai1jbi1 7#b7 9 subp>agraph 7,b7-- 7,a7 by /rik+ #ejj1jjj ea* place su* t]m appe>s & ins]t+ #deb1djj1 & 7,b7 by /rik+ #adi1bih & ins]t+ #acb1fch1 7#c7 9 subp>agraph 7,c7-- 7,a7 by /rik+ #ejj1jjj ea* place su* t]m appe>s & ins]t+ #dbe1hjj1 & 7,b7 by /rik+ #aej1fhi4ej & ins]t+ #abd1gai4ej1 & 7#d7 9 subp>agraph 7,d7-- 7,a7 by /rik+ #cjj1jjj ea* place su* t]m appe>s & ins]t+ #bci1ejj1 & 7,b7 by /rik+ #hj1fhi4ej & ins]t+ #ei1ead4ej4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #a7;j77#d77;,b77iii7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7,a7 9 ! matt] prec$+ subclause 7,i71 by /rik+ #cg p]c5t & ins]t+ #ci4f p]c5t1 7,b7 9 subclause 7,,ii71 by /rik+ #cg-p]c5t bracket & ins]t+ #ci4f-p]c5t bracket1 & 7,c7 9 ! head+1 by /rik+ #cg-p]c5t bracket & ins]t+ #ci4f-p]c5t bracket4 7#b7 ,section #a7;j77#d77;,c7 ( su* ,code is am5d$-- 7,a7 9 clause 7i77,,ii71 by /rik+ p>agraph 7#e77;,b77i77,,iv7 & ins]t+ p>agraph 7#e77;,b77iv71 & 7,b7 by am5d+ clause 7ii7 to read z foll[s3 7ii7 ! am\nt :i* w\ld 7)\t reg>d to ?is p>agraph7 be tax$ at a rate bel[ #ci4f p]c5t %all n be m ?an ! sum (-- 7,i7 ! e>n$ taxable income ( su* *ild1 plus 7,,ii7 ! maximum doll> am\nt = ! #ce-p]c5t rate bracket = e/ates & tru/s4 4 7#c7 ,! head+ ( section #a7;j77#e7 ( su* ,code is am5d$ to read z foll[s3 ,application ( z]o p]c5t capital ga9 rate brackets4 7#d7 ,subp>agraphs 7,a7 & 7,b7 ( section #a7;j77#e7 ( su* ,code are am5d$ to read z foll[s3 7,a7 ,9 g5]al ,subsection 7h77#a77;,b77i7 %all be appli$ by sub/itut+ bel[ ! maximum z]o rate am\nt = :i* w\ld 7)\t reg>d to ?is p>agraph7 be tax$ at a rate bel[ #be p]c5t4 7,b7 ,maximum z]o rate am\nt def9$ ,= purposes ( subp>agraph 7,a71 ! t]m maximum z]o rate am\nt means-- 7i7 9 ! case ( a jo9t return or surviv+ sp\se1 #gg1bjj1 7ii7 9 ! case ( an individual :o is a head ( h\sehold 7z def9$ 9 section #b7;b771 #ea1gjj1 7iii7 9 ! case ( any o!r individual 7o!r ?an an e/ate or tru/71 an am\nt equal to ( ! am\nt 9 effect = ! taxable ye> "u clause 7i71 & 7iv7 9 ! case ( an e/ate or tru/1 #b1fjj4 4 7#e7 ,section #a7;j77#e77;,c7 ( su* ,code is am5d$ by /rik+ clauses 7i7 & 7ii7 (4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4 7d7 ,section #ae n to apply ,section #ae ( ! ,int]nal ,rev5ue ,code ( #aihf %all n apply to any *ange 9 a rate ( tax by reason ( any am5dm5t made by ?is section4 ,decemb] #ac1 #bjai ,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be pr9t$