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The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.
Signed into law on January 1, 2018 by President Donald Trump, the Tax Cuts and Jobs Act (TCJA) made significant changes to individual and business tax code.
"The change in the tax brackets is only a small part of the story of the TCJA," Ernie Tedeschi, Yale Budget Lab's director of economics, told BI. "Most of the story is actually in the law's ...
A resolution to elect Charles E. Grassley, a Senator from the State of Iowa, to be President pro tempore of the Senate of the United States. S.Res. 4: January 3, 2025: A resolution notifying the President of the United States of the election of a President pro tempore. S.Res. 5: January 3, 2025
The Revenue Act of 1964 restricted the SALT deduction to state and local taxes on real property, personal property, income, general sales, and gasoline and other motor fuels. [17] Amid the 1970s energy crisis, Congress passed the Revenue Act of 1978, which eliminated the deduction for state and local taxes on gasoline and motor vehicle fuel.
During his presidency, he passed the Tax Cuts and Jobs Act (TCJA) in 2017 to stimulate economic growth. When Trump sits back behind the desk in 2025, he may very well likely continue focusing on ...
The child tax credit under the Tax Cuts and Jobs Act of 2017. Top plateau would be higher for more children. Under the Tax Cuts and Jobs Act of 2017 (TCJA), for the years 2018–2025 (excluding 2021, see below section Temporary Expansion in 2021) the CTC allows taxpayers to reduce their federal tax liabilities by $2,000 per qualifying child (see Eligibility).
The TCJA reduced this from 35% to 21%, and Trump recently pledged to lower it to 15%. He argues that additional tax cuts for businesses will spur job creation and boost the economy.