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Bill > S2281
US S2281
US S2281A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax rates in effect for taxable years 2018 through 2025.
summary
Introduced
01/04/2018
01/04/2018
In Committee
01/04/2018
01/04/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax rates in effect for taxable years 2018 through 2025. This bill amends the Internal Revenue Code to make permanent provisions included in P.L. 115-97 (commonly known as the Tax Cuts and Jobs Act) that: (1) reduced the individual tax rates, and (2) modified the taxation of the unearned income of children. The existing individual tax rates (10%, 12%, 22%, 24%, 32%, 35%, and 37%) are currently scheduled to expire and revert to higher rates at the end of 2025.
AI Summary
This bill amends the Internal Revenue Code to make permanent the individual tax rates that were reduced and modified as part of the Tax Cuts and Jobs Act passed in 2017. Specifically, it makes permanent the current individual tax rates of 10%, 12%, 22%, 24%, 32%, 35%, and 37%, which were originally set to expire at the end of 2025. The bill also makes permanent the modified taxation of the unearned income of children that was implemented under the Tax Cuts and Jobs Act.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Read twice and referred to the Committee on Finance. (on 01/04/2018)
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/115th-congress/senate-bill/2281/all-info |
| BillText | https://www.congress.gov/115/bills/s2281/BILLS-115s2281is.pdf |
| Bill | https://www.congress.gov/115/bills/s2281/BILLS-115s2281is.pdf.pdf |
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