S. 1162
116th Congress
Senate
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.
Taxation
AfricaBank accounts, deposits, capitalCapital gains taxCharitable contributions
More subjectsShow fewer subjects
CommutingDisability and paralysisEgyptEmployee benefits and pensionsGamblingHealth care costs and insuranceHigher educationHousing finance and home ownershipIncome tax creditsIncome tax deductionsIncome tax exclusionIncome tax ratesInflation and pricesInterest, dividends, interest ratesMarriage and family statusMilitary personnel and dependentsPedestrians and bicyclingState and local taxationStudent aid and college costsTax administration and collection, taxpayersTax treatment of familiesTransfer and inheritance taxes
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 11, 2019
Read twice and referred to the Committee on Finance.
Apr 11, 2019
Introduced in Senate
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Latest action
Read twice and referred to the Committee on Finance.
Plain-English summary
This bill makes permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025.
The bill makes permanent provisions that
- reduce individual tax rates,
- modify the taxation of the unearned income of children,
- allow a deduction for qualified business income of pass-through entities,
- increase the standard deduction,
- increase and modify the child tax credit,
- increase the limitation for certain charitable contributions,
- allow additional contributions to ABLE accounts (tax-favored accounts designed to enable individuals with disabilities to save for and pay for disability-related expenses),
- allow certain members of the Armed Forces in the Sinai Peninsula of Egypt to receive combat zone tax benefits,
- reduce the adjusted gross income threshold for the medical expense deduction,
- exclude from gross income discharges of student loan debt due to the death or disability of the student,
- repeal the deduction for personal exemptions,
- limit individual deductions for state and local taxes,
- limit the mortgage interest deduction,
- double the estate and gift tax exemption amount,
- increase the alternative minimum tax exemption amount for individuals, and
- repeal or limit several other deductions and exclusions.
The bill also modifies (1) the capital gains tax brackets, and (2) the tax filing requirements for married taxpayers.
Related & companion bills
1
Bill text
1 version
- Introduced in Senate Formatted Text PDF Formatted XML
Committees of jurisdiction
1
Cosponsors
4
Cite this page
U.S. Congress. (2026). S. 1162: 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.. 116th Congress. Open America. https://openamerica.io/bill/116-S-1162/
"S. 1162: 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.." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-1162/.
S. 1162, 116th Cong. (2026), https://openamerica.io/bill/116-S-1162/.
[S. 1162: 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.](https://openamerica.io/bill/116-S-1162/)