ACCELERATION OF REDUCTION IN INDIVIDUAL INCOME TAX RATES.

SEC. 105. ACCELERATION OF REDUCTION IN INDIVIDUAL INCOME TAX RATES.(a) In General.—The table contained in paragraph (2) of section 1(i) (relating to reductions in rates after June 30, 2001) is amended to read as follows: “In the case of taxable years beginning during calendar year:The corresponding percentages shall be substituted for the following percentages: 28%31%36%39.6% 200127.5%30.5%35.5%39.1% 200227.0%30.0%35.0%38.6% 2003 and thereafter25.0%28.0%33.0%35.0%”. (b) Effective Date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2002.