S 126
117th Congress
Senate
Taxation
Africa
Bank accounts, deposits, capital
Capital gains tax
Charitable contributions
Commuting
Disability and paralysis
Egypt
Employee benefits and pensions
Gambling
Higher education
Housing finance and home ownership
Income tax credits
Income tax deductions
Income tax exclusion
Income tax rates
Inflation and prices
Interest, dividends, interest rates
Marriage and family status
Middle East
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.
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 28, 2021
Read twice and referred to the Committee on Finance.
Jan 28, 2021
Introduced in Senate
Plain-English summary
This bill makes permanent several tax provisions for individual taxpayers that were enacted by the Tax Cuts and Jobs Act of 2017 and are scheduled to expire at the end of 2025. These provisions include reduction of individual income tax rates, increase in the child tax credit, limitations on the tax deduction for state and local taxes and the mortgage interest deduction, and increase in the exemption amount for estate and gift taxes.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1