advance child payments The amendments made by subsection (b) shall apply to calendar months beginning after December 31, 2023. (3) Information disclosure The amendment made by subsection (d) shall take effect on the date of the enactment of this Act. 6. Capital gains rates not applicable to certain high income taxpayers (a) In general Section 1(h)(1) of the Internal Revenue Code of 1986 is amended by inserting and the taxable income of such taxpayer for such taxable year does not exceed $1,000,000 (half such amount in the case of a married individual filing a separate return) after If a taxpayer has a net capital gain for any taxable year . (b) Inflation adjustment Section 1(h) of such Code is amended by adding at the end the following new paragraph: (12) Inflation adjustment (A) In general In the case of any taxable year beginning after 2024, the $1,000,000 amount in paragraph (1) shall be increased by an amount equal to— (i) such dollar amount, multiplied by (ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2022 for calendar year 2016 in subparagraph (A)(ii) thereof. (B) Rounding If any increase under subparagraph (A) is not a multiple of $50, such dollar amount shall be rounded to the next lowest multiple of $50. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2023. 7. Increase in rates of certain corporate taxes (a) Corporate income tax rate Section 11(b) of the Internal Revenue Code of 1986 is amended by striking 21 percent and inserting 28 percent . (b) Rate of tax on repurchase of corporate stock Section 4501(a) of such Code is amended by striking 1 percent and inserting 4 percent . (c) Corporate alternative minimum tax rate Section 55(b)(2)(A)(i) of such Code is amended to read as follows: (i) the sum of— (I) 15 percent of so much of the adjusted financial statement income (as defined in section 56A) as does not exceed