Jason Smith

Tax Cuts and Jobs Act Extension

This bill would make permanent the individual income tax cuts from the 2017 Tax Cuts and Jobs Act, which are set to expire at the end of 2025. It includes provisions to maintain the higher standard deduction, expanded child tax credit, and lower individual tax rates. The bill also proposes new deductions for tip income and overtime pay. If passed, the bill would affect virtually every American taxpayer, with the largest benefits going to middle-income families.