Bill > HRes1383

This Resolution marks the one-year anniversary of Public Law 119-21, known as the Working Families Tax Cuts, by celebrating its widespread tax relief and policy achievements for individuals, small businesses, and the economy. The measure highlights that the original legislation lowered income taxes for millions of Americans, eliminated taxes on tips and overtime pay, expanded the standard deduction, and increased the child tax credit to help families keep more of their earnings. It also points out that the law supported domestic manufacturing and small businesses by permanently extending small business deductions, doubling the estate tax exemption (often referred to as the "death tax exemption" to protect family farms and businesses from heavy taxes after a relative passes away), and allowing companies to immediately write off equipment and research investments. Additionally, the Resolution notes the law's broader investments and reforms, including expanding health savings accounts (tax-free savings accounts used to pay for medical expenses) and telehealth access, funding rural health care and border security technology, boosting domestic energy production, and providing security grants for major upcoming international events like the 2026 FIFA World Cup and the 2028 Olympics.