Tax Cuts for Working Families Act
USA118th CongressHR-3936| House
| Updated: 6/30/2023
Jason Smith
Republican Representative
Missouri
Ways and Means Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Tax Cuts for Working Families Act This bill renames the standard tax deduction as the guaranteed deduction. It allows an additional bonus amount of $2,000 ($4,000 for married couples filing jointly) in taxable years beginning in 2024 and 2025 but reduces the bonus amount for taxpayers whose modified adjusted gross income exceeds $200,000 ($400,000 for joint filers).
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 16.
Committee Consideration and Mark-up Session Held
Placed on the Union Calendar, Calendar No. 101.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-129.
Taxation
Income tax deductionsInflation and prices
Tax Cuts for Working Families Act
USA118th CongressHR-3936| House
| Updated: 6/30/2023
Tax Cuts for Working Families Act This bill renames the standard tax deduction as the guaranteed deduction. It allows an additional bonus amount of $2,000 ($4,000 for married couples filing jointly) in taxable years beginning in 2024 and 2025 but reduces the bonus amount for taxpayers whose modified adjusted gross income exceeds $200,000 ($400,000 for joint filers).
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 16.
Committee Consideration and Mark-up Session Held
Placed on the Union Calendar, Calendar No. 101.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-129.
Jason Smith
Republican Representative
Missouri
Ways and Means Committee
Taxation
Related Bills
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Income tax deductionsInflation and prices