[Congressional Record Volume 163, Number 194 (Wednesday, November 29, 2017)]
[Senate]
[Pages S7474-S7475]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1641. Mr. RUBIO (for himself and Mr. Lee) submitted an amendment 
intended to be proposed to amendment SA 1618 proposed by Mr. McConnell 
(for Mr. Hatch (for himself and Ms. Murkowski)) to the bill H.R. 1, to 
provide for reconciliation pursuant to titles II and V of the 
concurrent resolution on the budget for fiscal year 2018; which was 
ordered to lie on the table; as follows:

       Strike section 11022 and insert the following:

     SEC. 11022. INCREASE IN AND MODIFICATION OF CHILD TAX CREDIT.

       (a) In General.--Section 24 is amended by adding at the end 
     the following new subsection:

       ``(h) Special Rules for Taxable Years 2018 Through 2025.--
       ``(1) In general.--In the case of a taxable year beginning 
     after December 31, 2017, and before January 1, 2026, this 
     section shall be applied as provided in paragraphs (2) 
     through (8).
       ``(2) Credit amount.--Subsection (a) shall be applied by 
     substituting `$2,000' for `$1,000'.
       ``(3) Limitation.--In lieu of the amount determined under 
     subsection (b)(2), the threshold amount shall be--
       ``(A) in the case of a joint return, $500,000, and
       ``(B) in the case of an individual who is not married or a 
     married individual filing a separate return, $250,000.
       ``(4) Definition of qualifying child.--Paragraph (1) of 
     subsection (c) shall be applied by substituting `18' for 
     `17'.
       ``(5) Partial credit allowed for certain other 
     dependents.--
       ``(A) In general.--The credit determined under subsection 
     (a) (after the application of paragraph (2)) shall be 
     increased by $500 for each dependent of the taxpayer (as 
     defined in section 152) other than a qualifying child 
     described in subsection (c) (after the application of 
     paragraph (4)).
       ``(B) Exception for certain noncitizens.--Subparagraph (A) 
     shall not apply with respect to any individual who would not 
     be a dependent if subparagraph (A) of section 152(b)(3) were 
     applied without regard to all that follows `resident of the 
     United States'.
       ``(6) Portion of credit refundable.--Subsection 
     (d)(1)(B)(i) shall be applied by substituting--
       ``(A) `15.3 percent' for `15 percent', and
       ``(B) `$0' for `$3,000'.
       ``(7) Adjustment for inflation.--
       ``(A) In general.--In the case of a taxable year beginning 
     after 2017, the $2,000 amount in paragraph (2) shall be 
     increased by an amount equal to--
       ``(i) such dollar amount, multiplied by
       ``(ii) the cost-of-living adjustment determined under 
     section 1(f)(3) for the calendar year in which the taxable 
     year begins.
       ``(B) Rounding.--Any increase determined under subparagraph 
     (A) shall be rounded to the next highest multiple of $100.
       ``(8) Social security number required.--No credit shall be 
     allowed under subsection (d) to a taxpayer with respect to 
     any qualifying child unless the taxpayer includes the social 
     security number of such child on the

[[Page S7475]]

     return of tax for the taxable year. For purposes of the 
     preceding sentence, the term `social security number' means a 
     social security number issued to an individual by the Social 
     Security Administration, but only if the social security 
     number is issued to a citizen of the United States or is 
     issued pursuant to subclause (I) (or that portion of 
     subclause (III) that relates to subclause (I)) of section 
     205(c)(2)(B)(i) of the Social Security Act.''.

       (b) Increase in Corporate Tax Rate.--Subsection (b) of 
     section 11, as amended by section 13001 of this Act, is 
     amended by striking ``20 percent'' and inserting ``22 
     percent''.

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