A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
USA117th CongressS-126| Senate
| Updated: 1/28/2021
Ted Cruz
Republican Senator
Texas
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This bill makes permanent several tax provisions for individual taxpayers that were enacted by the Tax Cuts and Jobs Act of 2017 and are scheduled to expire at the end of 2025. These provisions include reduction of individual income tax rates, increase in the child tax credit, limitations on the tax deduction for state and local taxes and the mortgage interest deduction, and increase in the exemption amount for estate and gift taxes.
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Timeline
Bill from Previous Congress
S 116-1162A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
Bill from Previous Congress
S 115-2687A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
AfricaBank accounts, deposits, capitalCapital gains taxCharitable contributionsCommutingDisability and paralysisEgyptEmployee benefits and pensionsGamblingHigher educationHousing finance and home ownershipIncome tax creditsIncome tax deductionsIncome tax exclusionIncome tax ratesInflation and pricesInterest, dividends, interest ratesMarriage and family statusMiddle EastMilitary personnel and dependentsPedestrians and bicyclingState and local taxationStudent aid and college costsTax administration and collection, taxpayersTax treatment of familiesTransfer and inheritance taxes
A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
USA117th CongressS-126| Senate
| Updated: 1/28/2021
This bill makes permanent several tax provisions for individual taxpayers that were enacted by the Tax Cuts and Jobs Act of 2017 and are scheduled to expire at the end of 2025. These provisions include reduction of individual income tax rates, increase in the child tax credit, limitations on the tax deduction for state and local taxes and the mortgage interest deduction, and increase in the exemption amount for estate and gift taxes.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Bill from Previous Congress
S 116-1162A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
Bill from Previous Congress
S 115-2687A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Ted Cruz
Republican Senator
Texas
Finance Committee
Taxation
Related Bills
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
AfricaBank accounts, deposits, capitalCapital gains taxCharitable contributionsCommutingDisability and paralysisEgyptEmployee benefits and pensionsGamblingHigher educationHousing finance and home ownershipIncome tax creditsIncome tax deductionsIncome tax exclusionIncome tax ratesInflation and pricesInterest, dividends, interest ratesMarriage and family statusMiddle EastMilitary personnel and dependentsPedestrians and bicyclingState and local taxationStudent aid and college costsTax administration and collection, taxpayersTax treatment of familiesTransfer and inheritance taxes