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S 2291 115th Congress Senate Taxation Capital gains tax Income tax rates Inflation and prices

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: January 10, 2018 Introduced by: Cruz, Ted Republican · Texas See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 10, 2018
Read twice and referred to the Committee on Finance.
Jan 10, 2018
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

What's happening now January 10, 2018

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1