Page:United States Statutes at Large Volume 95.djvu/202

 95 STAT. 176

PUBLIC LAW 97-34—AUG. 13, 1981 (c) AMENDMENT OF 1954 CODE.—Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed m terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1954.

TITLE I—INDIVIDUAL INCOME TAX PROVISIONS Subtitle A—Tax Reductions 26 USC 1.

SEC. 101. RATE CUTS; RATE REDUCTION CREDIT. (a) RATE REDUCTION.—Section 1 (relating to tax imposed) is

amended to read as follows: "SECTION 1. TAX IMPOSED. "(a) MARRIED INDIVIDUALS FIUNG JOINT RETURNS AND SURVIVING

SPOUSES.—There is hereby imposed on the taxable income of every married individual (as defined in section 143) who makes a single return jointly with his spouse under section 6013, and every surviving spouse (as defined in section 2(a)), a tax determined in accordance with the following tables: "(1) FOR TAXABLE YEARS B E G I N N I N G I N 1982.—

"If taxable income is: Not over $3,400 Over $3,400 but not over $5,500 Over $5,500 but not over $7,600 Over $7,600 but not over $11,900 Over $11,900 but not over $16,000 Over $16,000 but not over $20,200 Over $20,200 but not over $24,600 Over $24,600 but not over $29,900 Over $29,900 but not over $35,200 Over $35,200 but not over $45,800 Over $45,800 but not over $60,000 Over $60,000 but not over $85,600 Over $85,600

The tax is: No tax. 12% of the excess over $3,400. $252, plus 14% of the excess over $5,500. $546, plus 16% of the excess over $7,600. $1,234, plus 19% of the excess over $11,900. $2,013, plus 22% of the excess over $16,000. $2,937, plus 25% of the excess over $20 200 $4,037, plus 29% of the excess over $24,600. $5,574, plus 33% of the excess over $29,900. $7,323, plus 39% of the excess over $35,200. $11,457, plus 44% of the excess over $45,800. $17,705, plus 49% of the excess over $60,000. $30,249, plus 50% of the excess over $85,600.

"(2) FOR TAXABLE YEARS B E G I N N I N G I N 1983.—

"If taxable income is: Not over $3,400 Over $3,400 but not over $5,500 Over $5,500 but not over $7,600 Over $7,600 but not over $11,900 Over $11,900 but not over $16,000 Over $16,000 but not over $20,200 Over $20,200 but not over $24,600 Over $24,600 but not over $29,900

The tax is: No tax. 11% of the excess over $3,400, $231, plus 13% of the excess $5,500. $504, plus 15% of the excess $7,600. $1,149, plus 17% of the excess $11,900. $1,846, plus 19% of the excess $16,000. $2,644, plus 23% of the excess $20,200. $3,656, plus 26% of the excess $24,600.

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