Bill > HR6781

This bill, titled the "Trump Tariff Rebate Act," proposes to amend the Internal Revenue Code of 1986 to increase the standard deduction for individuals for the taxable years 2026 and 2027. The standard deduction, which is a fixed amount that taxpayers can subtract from their adjusted gross income before calculating their taxable income, will be increased by a specific "tariff rebate amount." This amount varies based on filing status: $4,000 for those filing jointly or surviving spouses, $3,000 for heads of household, and $2,000 for all other taxpayers. This change is intended to provide a tax benefit to individuals during these two tax years.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/6781/all-info