[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2014 Introduced in House (IH)]

<DOC>






115th CONGRESS
  1st Session
                                H. R. 2014

 To amend the Internal Revenue Code of 1986 to impose an excise tax on 
                       greenhouse gas emissions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 6, 2017

Mr. Delaney (for himself, Mr. Cartwright, and Mr. Polis) introduced the 
following bill; which was referred to the Committee on Ways and Means, 
and in addition to the Committee on Education and the Workforce, for a 
 period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the 
                          committee concerned

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to impose an excise tax on 
                       greenhouse gas emissions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tax Pollution, Not Profits Act''.

SEC. 2. GREENHOUSE GAS EMISSIONS.

    (a) In General.--Chapter 38 of the Internal Revenue Code of 1986 is 
amended by adding at the end thereof the following new subchapter:

                ``Subchapter E--Greenhouse Gas Emissions

``Sec. 4691. Tax imposed on greenhouse gas emissions.
``Sec. 4692. Border adjustments.
``Sec. 4693. Definitions and other rules.

``SEC. 4691. TAX IMPOSED ON GREENHOUSE GAS EMISSIONS.

    ``(a) In General.--There is hereby imposed a tax on greenhouse gas 
emissions from fossil fuel products and on greenhouse gas emissions 
from any person who is required to report emissions, or to which 
emissions are attributed, under subpart A of part 98 of title 40, Code 
of Federal Regulations, as in effect on the date of the enactment of 
the Tax Pollution, Not Profits Act, and emitted not less than 25,000 
tons of carbon dioxide emissions or carbon dioxide equivalent emissions 
during the preceding calendar year.
    ``(b) Application of Tax.--The Secretary shall apply to the person 
responsible for reporting under part 98 of title 40, Code of Federal 
Regulations, unless, in consultation with the Administrator of the 
Environmental Protection Agency, the Secretary determines that applying 
the tax to a different person would be less burdensome and would not 
have the effect of increasing carbon dioxide equivalent emissions.
    ``(c) Amount of Tax.--In 2018, the amount of the tax will equal $30 
per metric ton of carbon dioxide or carbon dioxide equivalent. The 
amount in the preceding sentence shall be increased each subsequent 
year by 4 percent above inflation, as measured by the Consumer Price 
Index for all urban consumers (all items; United States city average), 
rounded up to the next whole dollar amount.
    ``(d) Refund.--The Secretary shall provide a refund equal to the 
tax per metric ton of carbon dioxide or carbon dioxide equivalent for 
the capture and permanent sequestration of greenhouse gas emissions or 
from the use of a fossil fuel in manufacturing which does not result in 
the emission of a greenhouse gas in a manner that can be reasonably 
assumed to permanently sequester the greenhouse gas content of the 
fossil fuel.

``SEC. 4692. BORDER ADJUSTMENTS.

    ``(a) Exports.--In the case of any good exported from the United 
States, the Secretary may provide an equivalency refund to the person 
exporting such good equal to the cost associated with the tax imposed 
in section 4691.
    ``(b) Imports.--In the case of any good imported into the United 
States that would have had an increased cost imposed by section 4691 
had that good been produced in the United States, the Secretary may 
impose an equivalency fee on the person importing such good equivalent 
to the tax that would have been imposed under section 4691 at any point 
in the supply chain of that good, had that good been produced in the 
United States.
    ``(c) Regulatory Authority.--The Secretary shall consult with the 
Administrator of the Environmental Protection Agency, the United States 
Trade Representative, and the Secretary of Energy in establishing rules 
and regulations implementing the purposes of this section.

``SEC. 4693. DEFINITIONS AND OTHER RULES.

    ``(a) Definitions.--For purposes of this subchapter--
    ``(b) Carbon Dioxide Equivalent.--The term `carbon dioxide 
equivalent' means, for each greenhouse gas, the quantity of greenhouse 
gas that the Administrator of the Environmental Protection Agency 
determines makes the same contribution to global warming as 1 metric 
ton of carbon dioxide.
    ``(c) Greenhouse Gas.--The term `greenhouse gas' means any of the 
following:
            ``(1) Carbon dioxide.
            ``(2) Methane.
            ``(3) Nitrous oxide.
            ``(4) Sulfur hexafluoride.
            ``(5) Hydrofluorocarbons.
            ``(6) Perfluorocarbons.
    ``(d) Regulations.--The Secretary shall prescribe such regulations 
as may be necessary to carry out the provisions of this subchapter, 
including, in consultation with the Administrator of the Environmental 
Protection Agency, defining `permanent sequestration of greenhouse gas 
emissions' and specifying under what conditions `the use of a fossil 
fuel in manufacturing which does not result in the emission of a 
greenhouse gas in a manner that can be reasonably assumed to 
permanently sequester the greenhouse gas content of the fossil fuel' 
for purposes of this section.''.
    (b) Clerical Amendment.--The table of subchapters for chapter 38 of 
the Internal Revenue Code of 1986 is amended by adding at the end the 
following new item:

              ``subchapter e. greenhouse gas emissions''.

    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2017.

SEC. 3. ASSISTANCE TO LOW INCOME FAMILIES.

    (a) In General.--The Social Security Act (42 U.S.C. 301 et seq.) is 
amended by adding at the end the following:

        ``TITLE XXII--LOW-INCOME ENERGY COST MITIGATION PROGRAM

``SEC. 2201. LOW-INCOME ENERGY COST MITIGATION PROGRAM.

    ``(a) In General.--The Secretary, in consultation with the 
Commissioner of Social Security and the Secretary of Agriculture, shall 
formulate and administer the program provided for in this section, 
which shall be known as the `Low-Income Energy Cost Mitigation 
Program', and under which eligible households are provided an energy 
refund.
    ``(b) Eligibility of Households To Receive Energy Refund.--Each 
eligible household shall be entitled to receive monthly cash payments 
under this section in an amount equal to the monthly energy refund 
amount determined under subsection (d).
    ``(c) Eligibility.--
            ``(1) Eligible households.--A household shall be considered 
        to be an eligible household for purposes of this section if--
                    ``(A) except as provided in subsection (d)(4), the 
                gross income of the household does not exceed 200 
                percent of the poverty line;
                    ``(B) the State agency for the State in which the 
                household is located determines that the household is 
                participating in--
                            ``(i) the Supplemental Nutrition Assistance 
                        Program authorized by the Food and Nutrition 
                        Act of 2008 (7 U.S.C. 2011 et seq.);
                            ``(ii) the Food Distribution Program on 
                        Indian Reservations authorized by section 4(b) 
                        of such Act (7 U.S.C. 2013(b)); or
                            ``(iii) the program for nutrition 
                        assistance in Puerto Rico or American Samoa 
                        under section 19 of such Act (7 U.S.C. 2028);
                    ``(C) the household consists of a single individual 
                or a married couple, and--
                            ``(i) receives the subsidy described in 
                        section 1860D-14 of this Act (42 U.S.C. 1395w-
                        114); or
                            ``(ii)(I) participates in the program under 
                        title XVIII of this Act; and
                            ``(II) meets the income requirements 
                        described in section 1860D-14(a)(1) or (a)(2) 
                        of this Act (42 U.S.C. 1395w-114(a)(1) or 
                        (a)(2)); or
                    ``(D) the household consists of a single individual 
                or a married couple, and receives benefits under the 
                supplemental security income program under title XVI of 
                this Act (42 U.S.C. 1381-1383f).
            ``(2) Limitation.--Notwithstanding any other provision of 
        law, the Secretary shall provide refunds to United States 
        citizens, United States nationals, and individuals lawfully 
        residing in the United States who qualify for a refund under 
        paragraph (1)(A), and shall establish procedures to ensure that 
        other individuals do not receive refunds.
            ``(3) National standards.--The Secretary shall consult with 
        the Secretary of Agriculture and establish uniform national 
        standards of eligibility ensuring that States may co-administer 
        the energy refund program with the Supplemental Nutrition 
        Assistance Program in accordance with the provisions of this 
        section. No State agency shall impose any other standard or 
        requirement as a condition of eligibility or refund receipt 
        under the program. Assistance in the Energy Refund Program 
        shall be furnished promptly to all eligible households who make 
        application for such participation or are already enrolled in 
        any program referred to in paragraph (1).
    ``(d) Monthly Energy Refund Amount.--
            ``(1) Estimated annual refund.--Not later than 30 days 
        after the date of the enactment of the Tax Pollution, Not 
        Profits Act, and each November 30 thereafter, the Energy 
        Information Administration shall estimate, pursuant to a method 
        that is appropriate for such purposes, the annual total loss in 
        purchasing power that will result from subchapter E of chapter 
        38 of the Internal Revenue Code of 1986 (relating to excise tax 
        on carbon dioxide and other greenhouse gas emissions) in the 
        next calendar year for households of each size with gross 
        income equal to 150 percent of the poverty line, based on the 
        projected total market value of all compliance costs, excluding 
        the amount of the increase in households' energy consumption 
        that is financed by higher cost of living adjustments to 
        Federal benefits that result from increased carbon costs.
            ``(2) Monthly energy refund.--Subject to paragraph (3), the 
        amount of the monthly energy refund for an eligible household 
        under this section shall be--
                    ``(A) if the household has 1, 2, 3, or 4 members, 
                \1/12\ of the amount estimated under paragraph (1) for 
                such calendar year for a household of the same size, 
                rounded to the nearest whole dollar amount; or
                    ``(B) if the household has 5 or more members, \1/
                12\ of the arithmetic mean value of the amounts 
                estimated under paragraph (1) for such calendar year 
                for households with 5 or more members, rounded to the 
                nearest whole dollar amount.
            ``(3) Phaseout.--In any case in which the gross income of 
        an eligible household exceeds 150 percent of the poverty line 
        applicable to such household, the refund determined under 
        paragraph (2) shall be reduced ratably (but not below zero) by 
        2 percentage points for each percentage point that the gross 
        income exceeds 150 percent of such poverty line.
            ``(4) Extension of phaseout into middle class.--
                    ``(A) Determination.--Not later than 30 days after 
                the date of the enactment of the Tax Pollution, Not 
                Profits Act, and each November 30 thereafter, the 
                Secretary shall estimate for the next calendar year the 
                amount of revenues to be received in the general fund 
                of the Treasury by reason of subchapter E of chapter 38 
                (relating to carbon dioxide and other greenhouse gas 
                emissions) and the expenditures during such calendar 
                year to carry out the Tax Pollution, Not Profits Act 
                and the amendments made by such Act.
                    ``(B) Modified phaseout.--If such revenues exceed 
                such expenditures, then--
                            ``(i) for such calendar year the phaseout 
                        in paragraph (3) shall be applied by 
                        substituting for `2 percentage points' the 
                        percentage determined by the Secretary to 
                        extend the phaseout under paragraph (3) in such 
                        a manner as to reduce such excess to zero, and
                            ``(ii) in the case of households the gross 
                        income of which exceeds 200 percent of the 
                        poverty line, Secretary may under regulations 
                        allow a credit under subpart C of part IV of 
                        subchapter A of chapter 1 of the Internal 
                        Revenue Code of 1986 for the aggregate of the 
                        monthly energy refunds.
    ``(e) Delivery Mechanism.--
            ``(1) Subject to standards and an implementation schedule 
        set by the Secretary, the energy refund shall be provided in 
        monthly installments via--
                    ``(A) direct deposit into the eligible household's 
                designated bank account;
                    ``(B) the State's electronic benefit transfer 
                system; or
                    ``(C) another Federal or State mechanism, if such a 
                mechanism is approved by the Secretary.
            ``(2) The standards described under paragraph (1) shall--
                    ``(A) protect the privacy of energy refund 
                applicants and recipients;
                    ``(B) provide energy refund recipients with 
                choices, as appropriate, for delivery and receipt of 
                refunds;
                    ``(C) ensure ease of use and access to refunds, 
                including a prohibition on any fees charged for 
                withdrawals or other related services;
                    ``(D) protect, in a cost-effective manner, against 
                improper access to energy refunds;
                    ``(E) ensure interoperability of the Energy Refund 
                Program between States and permit monitoring and 
                investigations by authorized law enforcement agencies; 
                and
                    ``(F) include such standards, as determined 
                appropriate by the Secretary, to protect applicant and 
                recipient households from fraud and abuse and promote 
                effective and efficient administration of Energy Refund 
                Program.
    ``(f) Administration.--
            ``(1) In general.--The State agency of each participating 
        State shall assume responsibility for the certification of 
        applicant households and for the issuance of refunds and the 
        control and accountability thereof.
            ``(2) Administrative costs.--Subject to such standards as 
        determined appropriate by the Secretary, the Secretary shall 
        reimburse each State agency for 100 percent of administrative 
        costs.
            ``(3) Procedures.--Under standards established by the 
        Secretary, the State agency shall establish procedures 
        governing the administration of the Energy Refund Program that 
        the State agency determines best serve households in the State, 
        including households with special needs, such as households 
        with elderly or disabled members, households in rural areas, 
        homeless individuals, and households residing on reservations 
        as defined in the Indian Child Welfare Act of 1978 and the 
        Indian Financing Act of 1974. In carrying out this paragraph, a 
        State agency--
                    ``(A) shall provide timely, accurate, and fair 
                service to applicants for, and participants in, the 
                Energy Refund Program;
                    ``(B) shall permit an applicant household to apply 
                to participate in the program at the time that the 
                household first contacts the State agency, and shall 
                consider an application that contains the name, 
                address, and signature of the applicant to be 
                sufficient to constitute an application for 
                participation;
                    ``(C) shall screen any applicant household for the 
                Supplemental Nutrition Assistance Program, the State's 
                medical assistance program under section XIX of this 
                Act, the Children's Health Insurance Program under 
                section XXI of this Act, and a State program that 
                provides basic assistance under a State program funded 
                under title IV of this Act or with qualified State 
                expenditures as defined in section 409(a)(7) of this 
                Act for eligibility for the Energy Refund Program and, 
                if eligible, shall enroll such applicant household in 
                the Energy Refund Program;
                    ``(D) shall complete certification of and provide a 
                refund to any eligible household not later than 30 days 
                following its filing of an application;
                    ``(E) shall use appropriate bilingual personnel and 
                materials in the administration of the program in those 
                portions of the State in which a substantial number of 
                members of low-income households speak a language other 
                than English; and
                    ``(F) shall utilize State agency personnel who are 
                employed in accordance with the current standards for a 
                Merit System of Personnel Administration or any 
                standards later prescribed by the Office of Personnel 
                Management pursuant to section 208 of the 
                Intergovernmental Personnel Act of 1970 (42 U.S.C. 
                4728) modifying or superseding such standards relating 
                to the establishment and maintenance of personnel 
                standards on a merit basis to make all tentative and 
                final determinations of eligibility and ineligibility.
            ``(4) Streamlined eligibility for certain beneficiaries of 
        federal programs.--
                    ``(A) In general.--The Secretary, the Commissioner 
                of Social Security, the Railroad Retirement Board, or 
                the Secretary of Veterans Affairs shall develop 
                procedures to directly provide energy refunds to 
                individuals that are beneficiaries under the benefit 
                programs administered by such entities and are eligible 
                to receive such refunds under the Energy Refund 
                Program, if the Secretary determines, in consultation 
                with the Commissioner of Social Security, the Railroad 
                Retirement Board, and the Secretary of Veterans 
                Affairs, that--
                            ``(i) one or more of such entities are able 
                        to determine the gross income of such 
                        beneficiaries for purposes of determining 
                        eligibility for the energy refund;
                            ``(ii) such entities are able to coordinate 
                        to ensure that such beneficiaries do not 
                        receive multiple energy refunds; and
                            ``(iii) Federal provision of energy refunds 
                        would be more efficient and result in receipt 
                        of energy refunds by a greater number of 
                        eligible beneficiaries than delivery of such 
                        refunds by the States.
                    ``(B) Receipt of refunds.--Any low-income 
                beneficiary who receives an energy refund pursuant to 
                the procedures developed under this paragraph shall not 
                be eligible for an energy refund otherwise provided by 
                a State agency under this section.
            ``(5) Regulations.--
                    ``(A) Except as provided in subparagraph (B), the 
                Secretary shall issue such regulations consistent with 
                this section as the Secretary deems necessary or 
                appropriate for the effective and efficient 
                administration of the Energy Refund Program, and shall 
                promulgate all such regulations in accordance with the 
                procedures set forth in section 553 of title 5, United 
                States Code.
                    ``(B) Without regard to section 553 of title 5 of 
                such Code, the Secretary may by rule promulgate as 
                final, to be effective until not later than 2 years 
                after the date of the enactment of the Tax Pollution, 
                Not Profits Act, any procedures that are substantially 
                the same as the procedures governing the Supplemental 
                Nutrition Assistance Program in section 273.2, 273.12, 
                or 273.15 of title 7, Code of Federal Regulations.
                    ``(C) Notwithstanding paragraphs (2) and (3) of 
                subsection (i), the Secretary shall promulgate 
                regulations requiring streamlined eligibility 
                determinations for some or all households which include 
                individuals receiving medical assistance under a State 
                plan approved under title XIX or XXI of this Act or 
                individuals receiving premium credits for the purchase 
                of qualified health insurance coverage pursuant to 
                section 36B of the Internal Revenue Code of 1986. The 
                regulations shall institute procedures whereby the 
                gross income and family size information used for 
                determining eligibility under such provisions serve as 
                the basis for determining eligibility for the Energy 
                Refund Program.
                    ``(D) Notwithstanding any other provision of this 
                section, the Secretary may authorize States to provide 
                benefits under this section on a quarterly basis if the 
                Secretary determines that the amount of the benefits 
                that would be provided on a monthly basis to households 
                is insufficient to be efficiently paid on a monthly 
                basis in light of the administrative expenses of the 
                Energy Refund Program.
            ``(6) Controlling law.--For purposes of any administrative 
        or judicial action or proceeding initiated by a household to a 
        provision arising under this section, including any procedures 
        established by a State agency under paragraph (3) or any 
        regulations issued by the Secretary under paragraph (4), such 
        action or proceeding shall be subject to the following 
        conditions:
                    ``(A) Limitation on recovery for wrongful or 
                erroneous withholding of refunds.--Any energy refunds 
                that are determined to have been wrongfully or 
                erroneously withheld from a household shall be restored 
                for a period of not greater than 1 year prior to the 
                date that the underlying action or proceeding was 
                filed, or in the case of an action seeking review of a 
                final State agency determination, not more than 1 year 
                prior to the date of the filing of a request with the 
                State for the restoration of such allotments or, in 
                either case, not more than 1 year prior to the date the 
                State agency is notified or otherwise discovers the 
                possible loss to a household.
                    ``(B) Records.--Any records maintained by a State 
                agency under this section for the purpose of 
                certification of applicant households, the issuance of 
                energy refunds, or compliance with any requirements 
                established by the Secretary shall be made available to 
                a household to the extent necessary to carry out such 
                action or proceeding and consistent with the privacy 
                standards established under subsection (e)(2)(A).
                    ``(C) Regulations.--For purposes of any such 
                administrative or judicial action, all parties shall be 
                required to comply with any substantive and procedural 
                regulations established by the Secretary for the 
                operation of the Energy Refund Program unless such 
                regulations are not in accordance with law.
    ``(g) Treatment.--The value of the refund provided under this 
section shall not be considered income or resources for any purpose 
under any Federal, State, or local laws, including, but not limited to, 
laws relating to an income tax, or public assistance programs 
(including, but not limited to, health care, cash aid, child care, 
nutrition programs, and housing assistance) and no participating State 
or political subdivision thereof shall decrease any assistance 
otherwise provided an individual or individuals because of the receipt 
of a refund under this section.
    ``(h) Program Integrity.--For purposes of ensuring program 
integrity and complying with the requirements of the Improper Payment 
Information Act of 2002, the Secretary shall, to the maximum extent 
possible, rely on and coordinate with the quality control sample and 
review procedures of paragraphs (2), (3), (4), and (5) of section 16(c) 
of the Food and Nutrition Act of 2008 (7 U.S.C. 2025(c)).
    ``(i) Definitions.--
            ``(1) Electronic benefit transfer system.--The term 
        `electronic benefit transfer system' means a system by which 
        household benefits or refunds defined under subsection (e) are 
        issued from and stored in a central databank via electronic 
        benefit transfer cards.
            ``(2) Gross income.--The term `gross income' means the 
        gross income of a household that is determined in accordance 
        with standards and procedures established under section 5 of 
        the Food and Nutrition Act of 2008 (7 U.S.C. 2014) and its 
        implementing regulations.
            ``(3) Household.--
                    ``(A) The term `household' means--
                            ``(i) in subparagraphs (A) and (B) of 
                        subsection (c)(1) of this section, except as 
                        provided in subparagraph (C) of this paragraph, 
                        an individual or a group of individuals who are 
                        a household under section 3(n) of the Food and 
                        Nutrition Act of 2008 (7 U.S.C. 2012(n));
                            ``(ii) in subsection (c)(1)(C) of this 
                        section, a single individual or married couple 
                        that receives benefits under section 1860D-14 
                        of this Act (42 U.S.C. 1395w-114) and is not an 
                        institutionalized individual or couple (as 
                        defined in section 1902(q)(1)(B)); and
                            ``(iii) in subsection (c)(1)(D) of this 
                        section, a single individual or married couple 
                        that receives benefits under the supplemental 
                        security income program under title XVI of this 
                        Act (42 U.S.C. 1381-1383f) and is not an 
                        institutionalized individual or couple.
                    ``(B) The Secretary shall establish rules for 
                providing the energy refund in an equitable and 
                administratively simple manner to households where the 
                group of individuals who live together includes members 
                not all of whom are described in a single clause of 
                subparagraph (A), or includes additional members not 
                described in any such clause.
                    ``(C) The Secretary shall establish rules regarding 
                the eligibility and delivery of the energy refund to 
                groups of individuals described in section 3(n)(4) or 
                (5) of the Food and Nutrition Act of 2008 (7 U.S.C. 
                2012(n)).
            ``(4) Poverty line.--The term `poverty line' has the 
        meaning given the term in section 673(2) of the Community 
        Services Block Grant Act (42 U.S.C. 9902(2)), including any 
        revision required by that section.
            ``(5) State.--The term `State' means the 50 States, the 
        District of Columbia, the Commonwealth of Puerto Rico, American 
        Samoa, the United States Virgin Islands, Guam, and the 
        Commonwealth of the Northern Mariana Islands.
            ``(6) State agency.--The term `State agency' means an 
        agency of State government, including the local offices 
        thereof, that has responsibility for administration of the 1 or 
        more federally aided public assistance programs within the 
        State, and in those States where such assistance programs are 
        operated on a decentralized basis, the term shall include the 
        counterpart local agencies administering such programs.
            ``(7) Other terms.--Other terms not defined in this title 
        shall have the same meaning applied in the Supplemental 
        Nutrition Assistance Program authorized by the Food and 
        Nutrition Act of 2008 (7 U.S.C. 2011 et seq.) unless the 
        Secretary finds for good cause that application of a particular 
        definition would be detrimental to the purposes of the Energy 
        Refund Program.
    ``(j) State Opt In.--The Secretary shall carry out the requirements 
specified by this section for a State or State agency unless the State 
or State agency elects to carry out such requirements.''.
    (b) Conforming Amendment.--Section 1324(b)(2) of title 31, United 
States Code, is amended by inserting the following before the period at 
the end: ``, or under section 2201(d)(4)(B)(ii) of the Social Security 
Act''.

SEC. 4. ASSISTANCE TO DISPLACED WORKERS IN THE COAL INDUSTRY.

    For a period of 10 years after the enactment of the Tax Pollution, 
Not Profit Act, up to 2 percent of the revenues generated under this 
Act may be used by the Secretary of Labor to implement a program to 
assist workers in the coal industry that may be displaced as a result 
of the enactment of this Act. This assistance can take the form of the 
following:
            (1) Worker retraining.
            (2) Relocation expenses for those who move to find new 
        employment.
            (3) Early retirement.
            (4) Health Benefits.
            (5) Other assistance that the Secretary determines 
        appropriate.

SEC. 5. REDUCTION IN CORPORATE TAX RATE.

    (a) In General.--Section 11(b)(1) of the Internal Revenue Code of 
1986 is amended--
            (1) by striking subparagraphs (C) and (D), by inserting 
        ``and'' at the end of subparagraph (B), and by inserting after 
        subparagraph (B) the following:
                    ``(C) applicable percentage of so much of the 
                taxable income as exceeds $75,000.'',
            (2) by striking ``$11,750'' and inserting ``applicable 
        dollar amount'', and
            (3) by striking the last sentence.
    (b) Applicable Percentage; Applicable Dollar Amount.--Section 11 of 
such Code is amended by adding at the end the following:
    ``(e) Applicable Percentage.--For purposes of this section--
            ``(1) Applicable percentage.--The term `applicable 
        percentage' means--
                    ``(A) 32 percent in the case of taxable years 
                beginning in 2018,
                    ``(B) 31 percent in the case of taxable years 
                beginning in 2019,
                    ``(C) 30 percent in the case of taxable years 
                beginning in 2020,
                    ``(D) 29 percent in the case of taxable years 
                beginning in 2021, and
                    ``(E) 28 percent in the case of taxable years 
                beginning after 2021.
            ``(2) Applicable dollar amount.--The term `applicable 
        dollar amount' means--
                    ``(A) $6,750 in the case of taxable years beginning 
                in 2018,
                    ``(B) $5,500 in the case of taxable years beginning 
                in 2019,
                    ``(C) $5,000 in the case of taxable years beginning 
                in 2020,
                    ``(D) $4,500 in the case of taxable years beginning 
                in 2021, and
                    ``(E) $4,000 in the case of taxable years beginning 
                after 2021.''.
    (c) Conforming Amendments.--
            (1) Section 11(b)(2) of such Code is amended by striking 
        ``35 percent'' and inserting ``the applicable percentage''.
            (2) Section 1201(a) of such Code is amended--
                    (A) by striking ``35 percent'' both places it 
                appears and inserting ``the applicable percentage'', 
                and
                    (B) by striking ``2 sentences'' and inserting 
                ``sentence''.
            (3) Section 1445(e) of such Code is amended by striking 
        ``35 percent'' each places it occurs and inserting ``the 
        applicable percentage''.
    (d) Effective Date.--
            (1) In general.--Except as otherwise provided in this 
        subsection, the amendments made by this section shall apply to 
        taxable years beginning after December 31, 2017.
            (2) Withholding.--The amendments made by subsection (b)(4) 
        shall apply to distributions made after December 31, 2017.

SEC. 6. PUBLIC DISCLOSURE OF REVENUES AND EXPENDITURES.

    (a) Establishment of Website.--The Secretary of the Treasury, or 
the Secretary's designee, shall establish a website for purposes of 
making the disclosures described in subsection (b).
    (b) Disclosures.--The Secretary shall make publicly available, on 
an ongoing basis and as frequently as possible, information regarding 
the amount and sources of revenue attributable to this Act and the 
amendments made by this Act.
                                 <all>