Bill > S1226

This bill permanently modifies individual tax rate brackets, extends the deduction for qualified business income, limits losses for taxpayers other than corporations, and permanently increases the standard deduction and child tax credit. It also permanently extends increased limitations on certain charitable contributions, contributions to ABLE accounts, student loan discharge, and the treatment of individuals performing services in the Sinai Peninsula of Egypt and of certain personal casualty losses. Additionally, it repeals the deduction for personal exemptions, the exclusion for qualified bicycle commuting reimbursement, and the deduction for moving expenses, while permanently extending the limitation on the deduction for state and local, etc. taxes and the limitation on deduction for qualified residence interest. The bill also permanently increases the estate and gift tax exemption and the alternative minimum tax exemption.

Budget and Finance

https://www.congress.gov/bill/118th-congress/senate-bill/1226/all-info