HOUSE 3936118th CongressPlaced on the Union Calendar, Calendar No. 101.

Tax Cuts for Working Families Act

Last Action: 6/30/2023

Actions

2023-06-30Placed on the Union Calendar, Calendar No. 101.
2023-06-30Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-129.
2023-06-30Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-129.
2023-06-13Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 16.
2023-06-13Committee Consideration and Mark-up Session Held
2023-06-09Referred to the House Committee on Ways and Means.
2023-06-09Introduced in House
2023-06-09Introduced in House

CRS Summary

As of 2023-06-30 (07)

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 deductions
Inflation and prices

Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.