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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.
The TCJA of 2017 brought about major changes to the existing tax code. The overarching goal of the TCJA was to stimulate economic growth and strengthen U.S. businesses.
At the end of 2025, significant tax cuts are expiring that were passed under the Trump administration through the Tax Cuts and Jobs Act (TCJA), often called the Trump tax cuts. Unless a new law is...
The TCJA lowered income tax rates for all individuals but more significantly for high-income earners. The top marginal tax rate was reduced to 37 percent from 39.6 percent.
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 phrase Bush tax cuts refers to changes to the United States tax code passed originally during the presidency of George W. Bush and extended during the presidency of Barack Obama, through: Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA)
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.
Passed the Senate on October 19, 1990 (54–46 Roll call vote 292, via Senate.gov, in lieu of S. 3209) Reported by the joint conference committee on October 27, 1990; agreed to by the House on October 27, 1990 (228–200 Roll call vote 528 , via Clerk.House.gov) and by the Senate on October 27, 1990 (54–45 Roll call vote 326 , via Senate.gov)