Sec. 7. Internal Revenue Code provisions
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Section 3101 of the Internal Revenue Code of 1986 is amended— by redesignating subsection
(c)as subsection (d), and by inserting after subsection
(b)the following: In addition to other taxes, there is hereby imposed on the income of every individual a tax equal to the applicable percentage of the wages (as defined in section 3121(a)) received by the individual with respect to employment (as defined in section 3121(b)). For purposes of paragraph (1), the term applicable percentage means 0.2 percent in the case of wages received in any calendar year. . Section 3111 of such Code is amended— by redesignating subsections
(c)and
(d)as subsections
(d)and (e), respectively, and by inserting after subsection
(b)the following: In addition to other taxes, there is hereby imposed on every employer an excise tax, with respect to having individuals in his employ, equal to the applicable percentage of the wages (as defined in section 3121(a)) paid by the employer with respect to employment (as defined in section 3121(b)). For purposes of paragraph (1), the term applicable percentage means 0.2 percent in the case of wages paid in any calendar year. . Section 1401 of such Code is amended— by redesignating subsection
(c)as subsection (d), and by inserting after subsection
(b)the following: In addition to other taxes, there is hereby imposed for each taxable year, on the self-employment income of every individual, a tax equal to the applicable percentage of the amount of the self-employment income for such taxable year. For purposes of paragraph (1), the term applicable percentage means 0.4 percent in the case of self-employment income in any taxable year. . Section 1402(b)(1) of such Code is amended by striking tax imposed by section 1401(a) and inserting taxes imposed by subsections
(a)and
(c)of section 1401 . Section 3201 of such Code is amended— by redesignating subsection
(c)as subsection (d), and by inserting after subsection
(b)the following: In addition to other taxes, there is hereby imposed on the income of each employee a tax equal to the applicable percentage of the compensation received during any calendar year by such employee for services rendered by such employee. For purposes of paragraph (1), the term applicable percentage means 0.2 percent in the case of compensation received in any calendar year. . Section 3211 of such Code is amended— by redesignating subsection
(c)as subsection (d), and by inserting after subsection
(b)the following: In addition to other taxes, there is hereby imposed on the income of each employee representative a tax equal to the applicable percentage of the compensation received during any calendar year by such employee representative for services rendered by such employee representative. For purposes of paragraph (1), the term applicable percentage means 0.2 percent in the case of compensation received in any calendar year. . Section 3221 of such Code is amended— by redesignating subsections
(c)and
(d)as subsections
(d)and (e), respectively, and by inserting after subsection
(b)the following: In addition to other taxes, there is hereby imposed on every employer an excise tax, with respect to having individuals in his employ, equal to the applicable percentage of the compensation paid during any calendar year by such employer for services rendered to such employer. For purposes of paragraph (1), the term applicable percentage means 0.2 percent in the case of compensation paid in any calendar year. . The amendments made by subsections
(a)and
(b)shall take effect 120 days after the date of enactment of this Act.