Each exemption figure gets its own base year for inflation
What the document says“by striking "2018" and inserting "2018 (2026, in the case of the $1,000,000 amount in subparagraph (A)(ii)(I))", and”
The section rewrites the inflation adjustment in section 55(d)(4)(B) of the Internal Revenue Code of 1986 so that the $1,000,000 amount in subparagraph (A)(ii)(I) starts from 2026 rather than 2018, and so that calendar year 2017 is substituted for the $109,400 and $70,300 amounts in subparagraph (A)(i) while calendar year 2025 is substituted for the $1,000,000 amount.
What the document actually says“by striking "2018" and inserting "2018 (2026, in the case of the $1,000,000 amount in subparagraph (A)(ii)(I))", and”
The year 2018 is taken out. Longer wording is put in. It keeps 2018 for most figures but uses 2026 for one.
That one figure is the $1 million amount. Two smaller figures keep an older base year. The change sets a different start point for each.
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