Tax Cuts for Working Families Act

United States118th CongressHR-3936House of Representatives
Updated: Jun 30, 2023

Summary

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

  1. Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 16.

    House of Representatives

  2. Committee Consideration and Mark-up Session Held

    House of Representatives

  3. Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-129.

    House of Representatives

  4. Placed on the Union Calendar, Calendar No. 101.

    House of Representatives