55d
<PRE>[DOCID: f:s1927is.txt]






107th CONGRESS
  2d Session
                                S. 1927

   To amend the Internal Revenue Code of 1986 to freeze the highest 
                Federal income tax rate at 38.6 percent.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            February 8, 2002

  Mr. Dayton introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to freeze the highest 
                Federal income tax rate at 38.6 percent.

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

SECTION 1. FREEZE OF HIGHEST INCOME TAX RATE AT 38.6 PERCENT.

    (a) In General.--The last column in the table contained in section 
1(i)(2) of the Internal Revenue Code of 1986 (relating to reductions in 
rates after June 30, 2001) is amended by striking ``37.6%'' and 
``35.0%'' and inserting ``38.6%''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2003.
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