Sec. 201. Individual rates
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Section 1(i) is amended to read as follows: In the case of taxable years beginning after December 31, 2012, the following table shall apply in lieu of the tables under subsections (a), (b), (c), (d), and (e): If taxable income is: The tax is: Not over $100,000 10% of taxable income Over $100,000 $10,000, plus 20% of the excess over $100,000. In the case of any taxable year beginning after 2013, the Secretary shall prescribe, in the same manner as under subsection (f), a table which shall apply in lieu of the table under paragraph (1), except that subsection (f)(3)(B) shall be applied by substituting 2012 for 1992 . . Paragraph
(1)of section 1(h) is amended to read as follows: If a taxpayer has a net capital gain for any taxable year, the tax imposed by this section for such taxable year shall not exceed the sum of— a tax computed at the rates and in the same manner as if this subsection had not been enacted on taxable income reduced by the net capital gain; 0 percent of so much of the net capital gain as does not exceed $1,000,000; and 20 percent of so much of net capital gain as exceeds $1,000,000. . The amendments made by this section shall apply to taxable years beginning after December 31, 2012.