Page:United States Statutes at Large Volume 79.djvu/434

 394

26? l c eJu.'

PUBLIC LAW 89-97-JULY 30, 1965

[79 STAT.

(B) by inserting after "exceed $4,800," the following: "or (C) during any calendar year after the calendar year 1965, the wages received by him during such year exceed $6,600". (C) by inserting before the period at the end thereof the following: "and before 1966, or which exceeds the tax with respect to the first $6,600 of such wages received in such calendar year after 1965". (^) Section 6413(c)(2)(A) of such Code (relating to refunds of employment taxes in the case of Federal employees) is amended by striking out "or $4,800 for any calendar year after 1958" and inserting in lieu thereof "$4,800 for the calendar year 1959, 1960, 1961, 1962, 1963, 1964, or 1965, or $6,600 for any calendar year after 1965". (c) The amendments made by subsections (a)(1) and (a)(3)(A), and the amendments made by subsection (b) (except paragraph (1) thereof), shall a p ^ y only with respect to remuneration paid after December 1965. The amendments made by subsections (a)(2), (a)(3)(B), and (b)(1) shall apply only with respect to taxable years ending after 1965. The amendment made by subsection (a)(4) shall apply only with respect to calendar years after 1965. CHANGES I N TAX SCHEDULES

26 USC uoi

S^^: ^^^- (^) Section 1401 of the Internal Revenue Code of 1954 (relating to rate of tax under the Self-Employment Contributions xVct) is amended to read as follows: "SEC. 1401. RATE OF TAX. " (a) OLD-AGE, SURVIVORS, AND DISABILITY INSURANCE.—In addition to other taxes, there shall be imposed for each taxable year, on the self-employment income of every individual, a tax as follows: "(1) in the case of any taxable year beginning after December 31, 1965, and before January 1, 1967, the tax shall be equal to 5.8 percent of the amount of the self-employment income for such taxable year; "(2) in the case of any taxable year beginning after December 31, 1966, and before January 1, 1969, the tax shall be equal to 5.9 percent of the amount of the self-employment income for such taxable year; "(3) m the case of any taxable year beginning after December 31, 1968, and before January 1, 19T3, the tax shall be equal to 6.6 percent of the amount of the self-employment income for such taxable year; and "(4) in the case of any taxable year beginning after December 31, 19Y2, the tax shall be equal to 7.0 percent of the amount of the self-employment income for such taxable year. " (b) HOSPITAL INSURANCE.—In addition to the tax imposed by the preceding subsection, there shall be imposed for each taxable year, on the self-employment income of every individual, a tax as follows: "(1) in the case of any taxable year beginning after December 31, 1965, and before January 1, 1967, the tax shall be equal to 0.35 percent of the amount of the self-employment income for such taxable year; "(2) m the case of any taxable year beginning after December 31, 1966, and before January 1, 1973, the tax shall be equal to 0.50 percent of the amount of the self-employment income for such taxable year;

�