. (c) Effective date The amendments made by this section shall apply to emissions after December 31, 2019. II Carbon Reduced Payroll Tax 201. Carbon reduced payroll tax (a) In general Notwithstanding any other provision of law— (1) with respect to any taxable year which begins after December 31, 2020, the rate of tax under section 1401(a) of the Internal Revenue Code of 1986 shall be 12.4 percent minus the reduced carbon rate, and (2) with respect to remuneration received after December 31, 2020— (A) the rate of tax under 3101(a) of such Code shall be 6.2 percent minus one-half of the reduced carbon rate (including for purposes of determining the applicable percentage under sections 3201(a) and 3211(a)(1) of such Code), and (B) the rate of tax under subsection (a) of section 3111 of such Code shall be 6.2 percent minus one-half of the reduced carbon rate (including for purposes of subsections (e) and (f) of such section and determining the applicable percentage under section 3221(a) of such Code). (b) Coordination With Deductions for Employment Taxes (1) Deduction in computing net earnings from self-employment For purposes of applying section 1402(a)(12) of the Internal Revenue Code of 1986, the rate of tax imposed by subsection 1401(a) of such Code shall be determined without regard to the reduction in such rate under this section. (2) Individual deduction In the case of the taxes imposed by section 1401 of such Code for any taxable year which begins in the payroll tax carbon period, the deduction under section 164(f) with respect to such taxes shall be equal to the sum of— (A) one-half of the portion of such taxes attributable to the tax imposed by section 1401(a) (determined after the application of this section), plus (B) one-half of the portion of such taxes 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