Page:United States Statutes at Large Volume 87.djvu/987

 87 STAT. ]

PUBLIC LAW 93-233-DEC. 31, 1973

955

(b)(1) Section 1401(b) of such Code (relating to rate of tax on sell-employment income for purposes of hospital insurance) is amended by striking out paragraphs (2) through (5) and inserting in lieu thereof the following: "(2) in the case of any taxable year beginning after December 31, 1972, and before January 1, 1974, the tax shall be equal to 1.0 percent of the amount of the self-employment income for such taxable year; "(3) in the case of any taxable year beginning after December 31, 1973, and before January 1, 1978, the tax shall be equal to 0.90 percent of the amount of the self-employment income for such taxable year; "(4) in the case of any taxable year beginning after December 31, 1977, and before January 1, 1981, the tax shall be equal to 1.10 percent of the amount of the self-employment income for such taxable year; "(5) in the case of any taxable year beginning after December 31, 1980, and before January 1, 1986, the tax shall be equal to 1.35 percent of the amount of the self-employment income for such taxable year; and "(6) in the case of any taxable year beginning after December 31, 1985, the tax shall be equal to 1.50 percent of the selfemployment income for such taxable year." (2) Section 3101(b) of such Code (relating to rate of tax on employees for purposes of hospital insurance) is amended by striking out paragraphs (2) through (5) and inserting in lieu thereof the following: "(2) with respect to wages received during the calendar year 1973, the rate shall be 1.0 percent; "(3) with respect to wages received during the calendar years 1974 through 1977, the rate shall be 0.90 percent; "(4) with respect to wages received during the calendar years 1978 through 1980, the rate shall be 1.10 percent; "(5) with respect to Avages received during the calendar years 1981 through 1985, the rate shall be 1.35 percent; and "(6) with respect to wages received after December 31, 1985, the rate shall be 1.50 percent.". (3) Section 3111(b) of such Code (relating to rate of tax on employers for purposes of hospital insurance) is amended by striking out paragraphs (2) through (5) and inserting in lieu thereof the following: ''(2) with respect to wages paid during the calendar year 1973, the rate shall be Lo percent; "(3) with respect to wages paid during the calendar years 1974 through 1977, the rate shall be 0.90 percent; " (4) with respect to wages paid during the calendar years 1978 through 1980, the rate shall be 1.10 percent; "(5) with respect to wages paid during the calendar years 1981 through 1985, the rate shall be 1.35 percent; and "(6) with respect to wages paid after Decembei- 31, 1985, the rate shall be 1.50 percent.". (c) The amendment made by subsection (b)(1) shall apply only with respect to taxable years beginning after December 31, 1973. The remaining amendments made by this section shall apply only with respect to remuneration paid after December 31, 1973. ALLOCATION TO DISABILITY INSURANCE TRUST

86 Stat. 1363. °° ^'gc i40i

Effective date.

FUND

SEC. 7. (a) Section 201(b)(1) of the Social Security Act is amended by striking out " (E) " and all that follows down through

^6 Stat. i364. " ^ ^^^ '*°^' ^

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