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Bill > HR8214
US HR8214
US HR8214Permanent Extension of Rate Cuts and Extension of National Tax Simplification Act of 2022 PERCENTS Act of 2022
summary
Introduced
06/23/2022
06/23/2022
In Committee
06/23/2022
06/23/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to make permanent certain provisions of Public Law 115-97 af- fecting individuals.
AI Summary
This bill permanently extends certain tax provisions enacted under Public Law 115-97 that affect individuals. Specifically, it makes permanent the individual income tax rate structure, including the 10%, 12%, 22%, 24%, 32%, 35%, and 37% tax brackets. It also permanently increases the standard deduction and repeals the overall limitation on itemized deductions. Additionally, the bill makes permanent the increased exemption amounts for the alternative minimum tax.
Committee Categories
Budget and Finance
Sponsors (15)
David Schweikert (R)*,
Jodey Arrington (R),
Vern Buchanan (R),
Drew Ferguson (R),
Kevin Hern (R),
David Kustoff (R),
Darin LaHood (R),
Carol Miller (R),
Greg Murphy (R),
Tom Rice (R),
Adrian Smith (R),
Jason Smith (R),
Lloyd Smucker (R),
Jackie Walorski (R),
Brad Wenstrup (R),
Last Action
Referred to the House Committee on Ways and Means. (on 06/23/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/8214/all-info |
| BillText | https://www.congress.gov/117/bills/hr8214/BILLS-117hr8214ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr8214/BILLS-117hr8214ih.pdf.pdf |
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