attributable to the tax imposed by section 1401(b). (c) Reduced carbon rate For purposes of this section— (1) In general The term reduced carbon rate means the number of percentage points determined by the Secretary to be— (A) 1 percentage point in the case of any taxable year which begins during calendar year 2021, and (B) in the case of any taxable year beginning in a calendar year beginning after calendar year 2021, the number of percentage points determined by the Secretary to be, for the calendar year the product of— (i) 12.4, and (ii) 52.5 percent of amounts of estimated taxes received in the Treasury under subtitle L of the Internal Revenue Code of 1986 (relating to greenhouse gas emissions), divided by estimated taxes that would have been received in the Treasury with respect to a calendar year under sections 1401(a), 3101(a), 3111(a), and the applicable percentage of such taxes under 3201(a), 3211(a)(1), and 3221(a), were this section not in effect. (2) Estimates For purposes of paragraph (1), the determination of amounts received in the Treasury shall be made on the basis of estimates by the Secretary of the Treasury (or the Secretary’s delegate), and proper adjustments shall be made in the amounts subsequently estimated to the extent prior estimates were in excess of or less than actual receipts. (3) Publication of reduced carbon rate Not later than October 31 of each calendar year, the Secretary shall publish the reduced carbon rate determined under this subsection for the succeeding calendar year. (d) Employer Notification The Secretary of the Treasury shall notify employers of the payroll tax holiday period in any manner the Secretary deems appropriate. (e) Transfers of Funds (1) Transfers to federal old-age and survivors insurance trust fund There are hereby appropriated to the Federal Old-Age and Survivors Trust Fund and the Federal Disability Insurance Trust Fund established under section 201 of the Social Security Act ( 42 U.S.C. 401 ) amounts equal to the reduction in revenues to the Treasury