[Congressional Record Volume 163, Number 195 (Thursday, November 30, 2017)]
[Senate]
[Page S7601]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1743. Mr. FLAKE 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:

       At the appropriate place, insert the following:

     SEC. 1____. MODIFICATIONS TO CORPORATE TAX RATE AND 
                   EXPENSING.

       (a) Increase in Corporate Tax Rate.--
       (1) In general.--Section 11(b), as amended by section 
     13001, is amended by striking ``20 percent'' and inserting 
     ``21 percent''.
       (2) Effective date.--The amendment made by this subsection 
     shall apply to taxable years beginning after December 31, 
     2018.
       (b) Extension of 100 Percent Expensing.--
       (1) In general.--Section 168(k), as amended by section 
     13201 of this Act, is amended--
       (A) in the heading, by striking ``January 1, 2023'' and 
     inserting ``January 1, 2027'',
       (B) in paragraph (2)--
       (i) in subparagraph (A)(iii), clauses (i)(III) and (ii) of 
     subparagraph (B), and subparagraph (E)(i), by striking 
     ``January 1, 2023'' each place it appears and inserting 
     ``January 1, 2027'', and
       (ii) in subparagraph (B)--

       (I) in clause (i)(II), by striking ``January 1, 2024'' and 
     inserting ``January 1, 2028'', and
       (II) in the heading of clause (ii), by striking ``pre-
     january 1, 2023'' and inserting ``pre-january 1, 2027'', and

       (C) in paragraph (5)(A), by striking ``January 1, 2023'' 
     and inserting ``January 1, 2027''.
       (2) Conforming amendment.--Clause (ii) of section 
     460(c)(6)(B) is amended by striking ``January 1, 2023 
     (January 1, 2024'' and inserting ``January 1, 2027 (January 
     1, 2028''.
       (3) Effective dates.--The amendments made by this 
     subsection shall take effect as if included in the amendments 
     made by section 13201 of this Act.
                                 ______