SEC. 2. REPEAL OF EXPANSION OF CERTAIN INFORMATION 
REPORTING REQUIREMENTS TO CORPORA-
TIONS AND TO PAYMENTS FOR PROPERTY. 
Section 9006 of the Patient Protection and Afford-
able Care Act is repealed. Each provision of law amended 
by such section is amended to read as such provision 
would read if such section had never been enacted. 
SEC. 3. SURCHARGE ON HIGH INCOME INDIVIDUALS. 
(a) IN GENERAL.—Subchapter A of chapter 1 of the 
Internal Revenue Code of 1986 is amended by adding at 
the end the following new part: 
‘‘PART VIII—SURCHARGE ON HIGH INCOME 
INDIVIDUALS 
‘‘Sec. 59C. Surcharge on high income individuals. 
‘‘SEC. 59C. SURCHARGE ON HIGH INCOME INDIVIDUALS. 
‘‘(a) GENERAL RULE.—In the case of a taxpayer 
other than a corporation, there is hereby imposed (in addi-
tion to any other tax imposed by this subtitle) a tax equal 
to 5.4 percent of so much of the modified adjusted gross 
income of the taxpayer as exceeds $1,000,000. 
‘‘(b) TAXPAYERS NOT MAKING A JOINT RETURN.— 
In the case of any taxpayer other than a taxpayer making 
a joint return under section 6013 or a surviving spouse 
(as defined in section 2(a)), subsection (a) shall be applied 
by substituting for the dollar amount therein (after any 
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increase determined under subsection (d)) a dollar amount 
equal to— 
‘‘(1) 50 percent of the dollar amount so in ef-
fect in the case of a married individual filing a sepa-
rate return, and 
‘‘(2) 80 percent of the dollar amount so in ef-
fect in any other case. 
‘‘(c) MODIFIED ADJUSTED GROSS INCOME.—For 
purposes of this section, the term ‘modified adjusted gross 
income’ means adjusted gross income reduced by any de-
duction (not taken into account in determining adjusted 
gross income) allowed for investment interest (as defined 
in section 163(d)). In the case of an estate or trust, ad-
justed gross income shall be determined as provided in sec-
tion 67(e). 
‘‘(d) INFLATION ADJUSTMENTS.— 
‘‘(1) IN GENERAL.—In the case of taxable years 
beginning after 2011, the dollar amount in sub-
section (a) shall be increased by an amount equal 
to— 
‘‘(A) such dollar amount, multiplied by 
‘‘(B) the cost-of-living adjustment deter-
mined under section 1(f)(3) for the calendar 
year in which the taxable year begins, by sub-
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stituting ‘calendar year 2010’ for ‘calendar year 
1992’ in subparagraph (B) thereof. 
‘‘(2) ROUNDING.—If any amount as adjusted 
under paragraph (1) is not a multiple of $5,000, 
such amount shall be rounded to the next lowest 
multiple of $5,000. 
‘‘(e) SPECIAL RULES.— 
‘‘(1) NONRESIDENT ALIEN.—In the case of a 
nonresident alien individual, only amounts taken 
into account in connection with the tax imposed 
under section 871(b) shall be taken into account 
under this section. 
‘‘(2) 
CITIZENS
AND
RESIDENTS
LIVING 
ABROAD.—The dollar amount in effect under sub-
section (a) (after the application of subsections (b) 
and (d)) shall be decreased by the excess of— 
‘‘(A) the amounts excluded from the tax-
payer’s gross income under section 911, over 
‘‘(B) the amounts of any deductions or ex-
clusions disallowed under section 911(d)(6) 
with respect to the amounts described in sub-
paragraph (A). 
‘‘(3) CHARITABLE
TRUSTS.—Subsection (a) 
shall not apply to a trust all the unexpired interests 
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in which are devoted to one or more of the purposes 
described in section 170(c)(2)(B). 
‘‘(4) NOT TREATED AS TAX IMPOSED BY THIS 
CHAPTER
FOR
CERTAIN
PURPOSES.—The tax im-
posed under this section shall not be treated as tax 
imposed by this chapter for purposes of determining 
the amount of any credit under this chapter or for 
purposes of section 55.’’. 
(b) CLERICAL AMENDMENT.—The table of parts for 
subchapter A of chapter 1 of such Code is amended by 
adding at the end the following new item: 
‘‘PART VIII. SURCHARGE ON HIGH INCOME INDIVIDUALS.’’. 
(c) SECTION 15 NOT TO APPLY.—The amendment 
made by subsection (a) shall not be treated as a change 
in a rate of tax for purposes of section 15 of the Internal 
Revenue Code of 1986. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2010. 
(e) DEFICIT REDUCTION.—Revenues received pursu-
ant to the amendments made by this section shall be de-
posited in the Treasury and used for deficit reduction, ex-
cept that in the case of a fiscal year for which there is 
no Federal budget deficit (determined after taking into ac-
count the repeal and amendments made by section 2), 
such amounts shall be used to reduce the Federal debt 
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(in such manner as the Secretary of the Treasury con-
siders appropriate). 
Æ 
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