rates for individuals (a) Joint returns and surviving spouses Section 1(a) is amended by striking in accordance with the following table and all that follows and inserting as follows: 12 percent of so much of taxable income as does not exceed $75,300, plus 25 percent of so much of taxable income as exceeds $75,300 but does not exceed $466,950, plus 29 percent of so much of taxable income as exceeds $466,950. . (b) Heads of households Section 1(b) is amended by striking in accordance with the following table and all that follows and inserting as follows: 12 percent of so much of taxable income as does not exceed $50,400, plus 25 percent of so much of taxable income as exceeds $50,400 but does not exceed $441,000, plus 29 percent of so much of taxable income as exceeds $441,000. . (c) Single Section 1(c) is amended by striking in accordance with the following table and all that follows and inserting as follows: 12 percent of so much of taxable income as does not exceed $37,650, plus 25 percent of so much of taxable income as exceeds $37,650 but does not exceed $415,050, plus 29 percent of so much of taxable income as exceeds $415,050. . (d) Married filing separately Section 1(d) is amended by striking in accordance with the following table and all that follows and inserting as follows: 12 percent of so much of taxable income as does not exceed $37,650, plus 25 percent of so much of taxable income as exceeds $37,650 but does not exceed $233,475, plus 29 percent of so much of taxable income as exceeds $233,475. . (e) Estates and trusts Section 1(e) is amended by striking in accordance with the following table and all that follows and inserting as follows: 12 percent of so much of taxable income as does not exceeds $5,000, plus 25 percent of so much of taxable income as exceeds $5,000 but does not exceed $10,000, plus 29 percent of so much of taxable income as exceeds $15,000. (f) Inflation adjustment Section 1(f) is amended by striking by striking paragraphs (7) and (8) and inserting the following new paragraph: (7)