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Replaces the dollar amounts in subparagraphs (B) and (C) of 26 U.S.C. 63(c)(2) with new fixed amounts.
Replaces the text of 26 U.S.C. 63(c)(4) governing inflation adjustments for specified dollar amounts, providing a cost-of-living based increase methodology and a $50 rounding rule.
Strikes paragraph (7) of 26 U.S.C. 63(c), removing that paragraph from subsection (c).
Referred to the House Committee on Ways and Means.
Introduced January 16, 2025 by Max Miller · Last progress January 16, 2025
TCJA Permanency Act
This bill would keep the higher standard tax deduction in place permanently. That means many people would keep more of their income tax-free before any taxes are calculated. The higher base amounts—$24,000 for joint filers, $18,000 for heads of household, and $12,000 for single filers—would no longer expire, and they would keep rising each year with inflation.
Key points:
Referred to the House Committee on Ways and Means.
Introduced in House