REDUCTION OF TAX ON INDIVIDUALS.

SEC. 111. REDUCTION OF TAX ON INDIVIDUALS. (a) Individuals Other Than Heads of Households.—Subsection (a) of section 1 (relating to rates of tax on individuals other than heads of households) is amended to read as follows: “(a) Rates of Tax on Individuals.— “(1) Taxable tears beginning in 1964.—In the case of a taxable year beginning on or after January 1, 1964, and before January’ 1, 1965, there is hereby imposed on the taxable income of every individual (other than a head of a household to whom subsection (b) applies) a tax determined in accordance with the following table: “If the taxable income is: The tax is: Not over $500 16% of the taxable income. Over $500 but not over $1,000 $80, plus 16.5% of excess over $500. Over $1,000 but not over $1,500 $162.50, plus 17.5% of excess over $1,000. Over $1,500 but not over $2,000 $250, plus 18% of excess over $1.500. Over $2,000 but not over $4,000 $340, plus 20% of excess over $2,000. Over $4,000 but not over $6,000 $740, plus 23.5% of excess over $4,000. Over $6,000 but not over $8,000 $1,210, plus 27% of excess over $6,000. Over $8,000 but not over $10,000 $1,750, plus 30.5% of excess over $8,000. Over $10,000 but not over $12,000 $2,360, plus 34% of excess over $10,000. Over $12,000 but not over $14,000 $3,040, plus 37.5% of excess over $12,000. 78 Stat. 20 “If the taxable income is: The tax is: Over $14,000 but not over $16,000 $3,790, plus 41% of excess over $14,000. Over $16,000 but not over $18,000 $4,610, plus 44.5% of excess over $16,000. Over $18,000 but not over $20,000 $5,500, plus 4 7.5% of excess over $18,000. Over $20,000 but not over $22,000 $6,450, plus 50.5% of excess over $20,000. Over $22,000 but not over $26,000 $7,460, plus 53.5% of excess over $22,000. Over $26,000 but not over $32,000 $9,000, plus 56% of excess over $26,000. Over $32,000 but not over $38,000 $12,960, plus 58.5% of excess over $32,000. Over $38,000 but not over $44,000 $16,470, plus 61% of excess over $38,000. Over $44,000 but not over $50,000 $20,130, plus 63.5% of excess over $44,000. Over $50,000 but not over $60,000 $23,940, plus 66% of excess over $50,000. Over $60,000 but not over $70,000 $30,540, plus 68.5% of excess over $60,000. Over $70,000 Out not over $80,000 $37,390, plus 71% of excess over $70,000. Over $80,000 but not over $90,000 $44,490, plus 73.5% of excess over $80,000. Over $90,000 but not over $100,000 $51,840, plus 75% of excess over $90,000. Over $100,000 but not over $200,000 $59,340, plus 76.5% of excess over $100,000. Over $200,000 $135,840, plus 77% of excess over $200,000. “(2) Taxable years beginning after December 31, 1964.—In the case of a taxable year beginning after December 31, 1984, there is hereby imposed on the taxable income of every individual (other than a head of a household to whom subsection (b) applies) a tax determined in accordance with the following table: “If the taxable income is: The tax is: Not over $500 14% of the taxable income. Over $500 but not over $1,000 $70, plus 15% of excess over $500. Over $1,000 but not over $1,500 $145, plus 16% of excess over $1,000. Over $1.500 but not over $2,000 $225, plus 17% of excess over 1,500. Over $2,000 but not over $4,000 $310, plus 19% of excess over $2,000. Over $4,000 but not over $6,000 $690, plus 22% of excess over $4,000. Over $6,000 but not over $8,000 $1,130, plus 25% of excess over $6,000. Over $8,000 but not over $10,000 $1,630; plus 28% of excess over $8,000. Over $10,000 but not over $12,000 $2,190, plus 32% of excess over $10,000. Over $12,006 but not over $14,000 $2,830, plus 36% of excess over $12,000. Over $14,000 but not over $16,000 $3,550, plus 39% of excess over $14,000. Over $16,000 but not over $18,000 $4,330, plus 42% of excess over $16,000. Over $18,000 but not over $20,000 $5,170, plus 45% of excess over $18,000. Over $20,000 but not over $22,000 $6,070, plus 48% of excess over $20,000. Over $22,000 but not over $26,000 $7,030, plus 50% of excess over $22,000. Over $26,000 but not over $32,000 $11,030, plus 53% of excess over $26,000. Over $32,000 but not over $38,000 $12,210, plus 55% of excess over $32,000. Over $38,000 but not over $44,000 $15,510, plus 58% of excess over $38,000. 78 Stat. 21 “If the taxable income is: The tax is: Over 844,000 but not over $50,000 $18,990, plus 60% of excess over $44,000. Over $50,000 but not over $60,000 $22,590, plus 62% of excess over $50,000. Over $00,000 but not over $70,000 $28,790, plus 64% of excess over $60,000. Over $70,000 but not over $80,000 $35,190, plus 66% of excess over $70,000, Over $80,000 but not over 590,000 $41,790, plus 68% of excess over $80,000. Over 800,000 but not over $100,000 $48,590, plus 69% of excess over $90,000. Over $100,000 $55,490, plus 70% of excess over $100,000.” (b) Heads of Households.—Paragraph (1) of section 1(b) (relating to rates of tax on heads of households) is amended to read as follows: “(1) Rates of tax.— “(A) Taxable years beginning in 1964.—In the case of a taxable year beginning on or after January 1, 1964, and before January 1, 1965, there is hereby imposed on the taxable income of every individual who is the head of a household a tax determined in accordance with the following table: “If the taxable income is: The tax is: Not over 81,000 16% of the taxable income. Over $1,000 but not over $2,000 $160, plus 17.5% of excess over $1,000. Over $2,000 but not over $4,000 $335, plus 19% of excess over $2,000. Over $4,000 but not over $0,000 $715, plus 22% of excess over $4,000. Over $6,000 but not over $8,000 $1,155, plus 23% of excess over $6,000. Over $8,000 but not over $10,000 $1,615, plus 27% of excess over $8,000. Over $10,000 but not over $12,000 $2,155, plus 29% of excess over $10,000. Over $12,000 but not over $14,000 $2,735, plus 32% of excess over $12,000. Over $14,000 but not over $16,000 $3,375, plus 34% of excess over $14,000. Over $16,000 but not over $18,000 $4,055, plus 37.5% of excess over $16,000. Over $18,000 but not over $20,000 $4,805, plus 39% of excess over $18,000. Over $20,000 but not over $22,000 $5,585, plus 42.5% of excess over $20,000. Over $22,000 but not over 824,000 $6,435, plus 13.5% of excess over $22,000. Over $24,000 but not over $26,000 $7,305, plus 45.5% of excess over $24,000. Over $26,000 but not over $28,000 $8,215, plus 47% of excess over $26,000. Over $28,000 but not over $82,000 $9,155, plus 48.5% of excess over $28,000. Over $32,000 but not over $36,000 $11,09 5, plus 51.5% of excess over Over $36,000 but not over $38,000 $13,155, plus 53% of excess over $36,000. Over $38,000 but not over $40,000 $14,215, plus 54% of excess over $38,000. over 840,000 but not over $44,000 $15,295, plus 56% of excess over $40,000. over $44,000 but not over $50,000 $17,535, plus 58.5% of excess over $44,000. over $ 50,000 but not over $52,000 $21,045, phis 50.5% of excess over $50,000. Over $02,000 but not over $60,000 $22,235, plus 61% of excess over $52,000. 78 Stat. 22 “If the taxable income is: The tax is: Over $00,000 but not over $64,000 $27,115, plus 62% of excess over $60,000. Over $64,000 but not over $70,000 $29,595, plus 63.5% of excess over $64,000. Over $70,000 but not over $76,000 $33,405, plus 65% of excess over $70,000. Over $76,000 but not over $80,000 $37,305, plus 66% of excess over $76,000. Over $80,000 but not over $88,000 $39,945, plus 67% of excess over $80,000. Over $88,000 but not over $90,000 $45,305, plus 69% of excess over $88,000. Over $90,000 but not over $100,000 $46,685, plus 69.5% of excess over $90,000. Over $100,000 but not over $120,000 $53,635, plus 71% of excess over $100,000. Over $120,000 but not over $140,000 $67,835, plus 72.5% of excess over $120,000. Over $140,000 but not over $160,000 $82,335, plus 74% of excess over $140,000. Over $160,000 but not over $180,000 $97,135, plus 75% of excess over $160,000. Over $180,000 but not over $200,000 $112,135, plus 75.5% of excess over $180,000. Over $200,000 $127,235, plus 77% of excess over $200,000. “(B) Taxable years beginning after December 31, 1964.—In the case of a taxable year beginning after December 31, 1964, there is hereby imposed on the taxable income of every individual who is the head of a household a tax determined in accordance with the following table: “If the taxable income is: The tax is: Not over $1,000 14% of the taxable income. Over $1,000 but not over $2,000 $140, plus 16% of excess over $1,000. Over $2,000 but not over $4,000 $300, plus 18% of excess over $2,000. Over $4,000 but not over $6,000 $660, plus 20% of excess over $4,000. Over $6,000 but not over $8,000 $1,060, plus 22% of excess over $6,000. Over $8,000 but not over $10,000 $1,500, plus 25% of excess over $8,000. Over $10,000 but not over $12,000 $2,000, plus 27% of excess over $10,000. Over $12,000 but not over $14,000 $2,540, plus 31% of excess over $12,000. Over $14,000 but not over $16,000 $3,160, plus 32% of excess over $14,000. Over $16,000 but not over $18,000 $3,800, plus 35% of excess over $16,000. Over $18,000 but not over $20,000 $4,500, plus 36% of excess over $18,000. Over $20,000 but not over $22,000 $5,220, plus 40% of excess over $20,000. Over $22,000 but not over $24,000 $6,020, plus 41% of excess over $22,000. Over $21,000 but not over $26,000 $6,840, plus 43% of excess over $24,000. Over $26,000 but nut over $28,000 $7,700, plus 45% of excess over $26,000. Over $28,000 but not over $32,000 $8,600, plus 46% of excess over $28,000. Over $32,000 but not over $36,000 $10,440, plus 48% of excess over $32,000. Over $311,000 but not over $38,000 $12,360, plus 50% of excess over $36,000. Over $38,009 but not over $40,000 $13,360, plus 52% of excess over $38,000. Over $40,000 but not over $44,000 $14,400, plus 53% of excess over $40,000. Over $44,000 but not over $50,000 $16,520, plus 55% of excess over $44,000. 78 Stat. 23 “If the taxable income is: The tax is: Over $50,000 but not over $52,000 $10,820, plus 56% of excess over $50,000. Over $52,000 but not over $64,000 $20,940, plus 58% of excess over $52,000. Over $64,000 but not over $70,000 $27,900, plus 59% of excess over $64,000. Over $70,000 but not over $76,000 $31,440, plus 61% of excess over $70,000. Over $76,000 but not over $80,000 $35,100, plus 62% of excess over $76,000. Over $80,000 but not over $88,000 $37,580, plus 63% of excess over $80,000. Over $88,000 but not over $100,000 $42,620, plus 64% of excess over $88,000. Over $100,000 but not over $120,000 $50,300, plus 66% of excess over $100,000. Over $120,000 but not over $140,000 $63,500, plus 67% of excess over $120,000. Over $140,000 but not over $160,000 $76,900, plus 68% of excess over $140,000. Over $160,000 but not over $180,000 $90,500, plus 69% of excess over $160,000. Over $180,000 $104,300, plus 70% of excess over $180,000.”