Tax Cuts for Working Families Act
118-HR-3936118th CongressIntroduced Jun 9, 2023Taxation
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Placed on the Union Calendar, Calendar No. 101.
Sponsor
Rep. Smith, Jason [R-MO-8](R-MO-8)Summary
Tax Cuts for Working Families Act
This bill renames the standard tax deduction as the guaranteed deduction. It allows an additional bonus amount of $2,000 ($4,000 for married couples filing jointly) in taxable years beginning in 2024 and 2025 but reduces the bonus amount for taxpayers whose modified adjusted gross income exceeds $200,000 ($400,000 for joint filers).
Subjects
Income tax deductionsInflation and prices
Actions (8)
Placed on the Union Calendar, Calendar No. 101.
Jun 30, 2023House floor actions
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-129.
Jun 30, 2023House floor actions
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-129.
Jun 30, 2023Library of Congress
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 16.
Jun 13, 2023House committee actions
Committee Consideration and Mark-up Session Held
Jun 13, 2023House committee actions
Referred to the House Committee on Ways and Means.
Jun 9, 2023House floor actions
Introduced in House
Jun 9, 2023Library of Congress
Introduced in House
Jun 9, 2023Library of Congress