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PART XXXVIII—FINANCE <br /> Section 38.1 Lower Personal Income Tax Rate <br /> Lowers the flax personal income tax rate from 5.499% to 5.25%beginning in 2019. <br /> Section 38.2 Increase the Standard Deduction <br /> As title indicates, increases the amount a taxpayer may deduct from taxable income beginning in <br /> 2019. <br /> Section 38.5 Lower Corporate Income Tax Rate <br /> As title indicates, lowers the corporate income tax from 3% to 2.5%beginning January 2019. <br /> 35 <br />