104 STAT. 1388-404 PUBLIC LAW 101-508 —NOV. 5, 1990 "(b) HEADS OF HOUSEHOLDS.—T here is hereby imposed on the taxable income of every head of a household (as defined in section 2(b)) a tax determined in accordance with the following table: "If taxable income is: The tax is: Not over $26,050 15% of taxable income. Over $26,050 but not over $67,200 $3,907.50, plus 28% of the excess over $26,500. Over $67,200 $15,429.50, plus 31% of the excess over $67,200. "(c) UNMARRIED INDIVIDUALS (OTHER THAN SURVIVING SPOUSES AND HEADS OF HOUSEHOLDS).— There is hereby imposed on the taxable income of every individual (other than a surviving spouse as defined in section 2(a) or the head of a household as defined in section 2(b)) who is not a married individual (as defined in section 7703) a tax determined in accordance with the following table: "If taxable income is: The tax is: Not over $19,450 15% of taxable income. Over $19,450 but not over $47,050 $2,917.50, plus 28% of the excess over $19,450. Over $47,050 $10,645.50, plus 31% of the excess over $47,050. "(d) MARRIED INDIVIDUALS FILING SEPARATE RETURNS. — There is hereby imposed on the taxable income of every married individual (as defined in section 7703) who does not make a single return jointly with his spouse under section 6013, a tax determined in accordance with the following table: "If taxable income is: The tax is: Not over $16,225 15% of taxable income. Over $16,225 but not over $39,200 $2,433.75, plus 28% of the excess over $16,225. Over $39,200 $8,866.75, plus 31% of the excess over $39,200. "(e) ESTATES AND TRUSTS. —T here is hereby imposed on the taxable income of— "(1) every estate, and "(2) every trust, taxable under this subsection a tax determined in accordance with the following table: "If taxable income is: The tax is: Not over $3,300 15% of taxable income. Over $3,300 but not over $9,900 $495, plus 28% of the excess over $3,300. Over $9,900 $2,343, plus 31% of the excess over $9,900. " (b) REPEAL OF PHASEOUT.— (1) IN GENERAL.— Section 1 is amended by striking subsection (g) (relating to phaseout of 15-percent rate and personal exemptions). (2) CONFORMING AMENDMENT.— Subparagraph (A) of section l(f)(6) (relating to adjustments for inflation) is amended by striking "subsection (g)(4),". (c) 28 PERCENT MAXIMUM CAPITAL GAINS RATE.— Subsection (j) of section 1 (relating to maximum capital gains rate) is amended to read as follows: "(j) MAXIMUM CAPITAL GAINS RATE.—I f a taxpayer has a net capital gain for any taxable year, then the tax imposed by this section shall not exceed the sum of— "(1) a tax computed at the rates and in the same manner as if this subsection had not been enacted on the greater of—
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