HR 523 · 119th CongressIn Committeecongress.gov ↗
What this bill does
AI plain-language summaryThis bill makes permanent the higher standard tax deduction amounts that were put in place in 2017. Currently, these higher amounts are set to expire after 2025, but this bill would keep them forever. The standard deduction amounts would stay at $24,000 for married couples filing together, $18,000 for head-of-household filers, and $12,000 for single filers, with yearly adjustments for inflation.
Your Vote
Discussion (0)
Explain what is at stake in this bill.
Sign in to join the discussion.
No comments yet. Be the first.