The rate is set at 100 percent
What the document says“in paragraph (1)(A), by striking "the applicable percentage" and inserting "100 percent", and”
The section strikes the words the applicable percentage in section 168(k)(1)(A) of the Internal Revenue Code of 1986 and inserts 100 percent, makes the same change in section 168(k)(5)(A)(i), and strikes paragraphs (6) and (8) of section 168(k).
What the document actually says“in paragraph (1)(A), by striking "the applicable percentage" and inserting "100 percent", and”
The words the applicable percentage are taken out. The words 100 percent are put in.
The old wording pointed to a sliding scale. The new wording fixes the rate. The same change is made for certain plants.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.