US S2291

Bill

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.

Introduced
01/10/2018

In Committee
01/10/2018

Crossed Over

Passed

Dead
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 introduced in the Tax Cuts and Jobs Act (P.L. 115-97) that are currently set to expire at the end of 2025. The bill maintains the existing individual tax rates of 10%, 12%, 22%, 24%, 32%, 35%, and 37%, instead of reverting to higher rates. It also makes permanent the modifications to the taxation of unearned income of children. The bill includes provisions to adjust these tax brackets for inflation going forward.

Committee Categories

Budget and Finance

Sponsors (1)

Ted Cruz (R)*,

Last Action

Read twice and referred to the Committee on Finance. (on 01/10/2018)

Official Document

https://www.congress.gov/bill/115th-congress/senate-bill/2291/all-info

(5 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/115th-congress/senate-bill/2291/all-info
BillText	https://www.congress.gov/115/bills/s2291/BILLS-115s2291is.pdf
Bill	https://www.congress.gov/115/bills/s2291/BILLS-115s2291is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR1	Tax Cuts and Jobs Act	Became Public Law No: 115-97. (TXT \| PDF)	Related
HR6760	Protecting Family and Small Business Tax Cuts Act of 2018	Received in the Senate and Read twice and referred to the Committee on Finance.	Related
HRes1084	Providing for consideration of the bill (H.B. 6756) to amend the Internal Revenue Code of 1986 to promote new business innovation, and for other purposes; providing for consideration of the bill (H.B. 6757) to amend the Internal Revenue Code of 1986 to encourage retirement and family savings, and for other purposes; providing for consideration of the bill (H.B. 6760) to amend the Internal Revenue Code of 1986 to make permanent certain provisions of the Tax Cuts and Jobs Act affecting individuals	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S2281	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.	Read twice and referred to the Committee on Finance.	Related
S2687	Tax Cuts and Jobs Act Official Titles Official Titles - Senate Official Titles as Introduced A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.	Read twice and referred to the Committee on Finance.	Related

Bill > S2291

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary