in the contract Rules similar to the rules of section 25B(f) shall apply for purposes of this section. (2) Coordination with saver's credit The credit under this section and the credit under section 25B shall each be determined without regard to the other. . (b) Clerical amendment The table of sections for subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 25B the following new item: Sec. 25BB. Additional credit for certain individuals making retirement contributions. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. 7. Increase in highest individual income tax rate (a) In general Each of the tables contained in subparagraphs (A), (B), (C), (D), and (E) of section 1(j)(2) of the Internal Revenue Code of 1986 is amended by striking 37% in the last line and inserting 39.6% . (b) Conforming amendment Clause (iii) of section 1(j)(4)(B) of the Internal Revenue Code of 1986 is amended— (1) by striking 37 percent and inserting 39.6 percent , (2) by striking 37-percent in subclause (II) and inserting 39.6-percent , and (3) by striking 37-percent in the heading and inserting 39.6-percent . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2019. 8. Increase in corporate income tax rate (a) In general Subsection (b) of section 11 of the Internal Revenue Code of 1986 is amended by striking 21 percent and inserting 23 percent . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2019.