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Bookmark or Share- Crapo: Congress Must Extend 2017 Tax Law - finance.senate.govThe TCJA lowered tax rates across the board, providing trillions of dollars in tax savings, with middle-income taxpayers receiving the largest proportional benefit of the cuts. It also doubled the standard deduction, and doubled and expanded the child tax credit, which made the tax code simpler and provided targeted tax relief for the middle class.
- The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to ...Cutting individual income tax rates for those at the top and weakening the alternative minimum tax (AMT). The law cut the top individual income tax rate from 39.6 percent to 37 percent for married couples with over $600,000 in taxable income (and often even higher gross income).
- How Tax Cuts Affect the Economy - InvestopediaTax cuts reduce government revenues and create either a budget deficit or increased sovereign debt. The federal tax system relies on several taxes to generate revenue, including income tax...
- 2025 Tax Reform Options: Tax Cuts and Jobs Act Expirations - Tax FoundationIf Congress fully extends the individual, estate, and business provisions, federal tax revenues would fall by more than $4 trillion on a conventional basis and by nearly $3.5 trillion on a dynamic basis over the coming decade; and without spending cuts, debt and deficits would increase.
- Tax Cuts and Jobs Act (TCJA) vs. Biden Tax Policies: Analysis & TestimonyCongressional testimony on the impact of 2017 federal tax reform, the Tax Cuts and Jobs Act (TCJA), and recent Biden tax policies. See economic incentives.
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