Sec. 114. Inflation adjustment for payment amounts
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Section 9004 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: In the case of any applicable period beginning after 2017, each of the dollar amounts in subsection (a)(1) shall be increased by an amount equal to— such dollar amount; multiplied by the cost-of-living adjustment determined under section 1(f)(3) for the calendar year following the year which such applicable period begins, determined by substituting calendar year 2016 for calendar year 1992 in subparagraph
(B)thereof. For purposes of this subsection, the term applicable period means the 4-year period beginning with the first day following the date of the last general election for the office of President and ending on the date of the next such general election. If any amount as adjusted under paragraph
(1)is not a multiple of $100, such amount shall be rounded to the nearest multiple of $100. .