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.
Latest action. Read twice and referred to the Committee on Finance.
This bill amends the Internal Revenue Code to make permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025.
The bill makes permanent provisions that
reduce individual tax rates,
modify the taxation of the unearned income of children,
allow a deduction for qualified business income of pass-through entities,
increase the standard deduction,
increase and modify the child tax credit,
increase the limitation for certain charitable contributions,
allow additional contributions to ABLE accounts (tax-favored accounts designed to enable individuals with disabilities to save for and pay for disability-related expenses),
allow certain members of the Armed Forces in the Sinai Peninsula of Egypt to receive combat zone tax benefits,
reduce the adjusted gross income threshold for the medical expense deduction,
exclude from gross income discharges of student loan debt due to the death or disability of the student,
repeal the deduction for personal exemptions,
limit individual deductions for state and local taxes,
limit the mortgage interest deduction,
double the estate and gift tax exemption amount,
increase the alternative minimum tax exemption amount for individuals, and
repeal or limit several other deductions and exclusions.
The bill also modifies (1) the capital gains tax brackets, and (2) the tax filing requirements for married taxpayers.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on April 17, 2018. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on April 17, 2018: Read twice and referred to the Committee on Finance.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 115th Congress (2017-18), 442 of the 11,421 bills and joint resolutions introduced became law, about 3.9 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Ted Cruz (R-TX) introduced it on April 17, 2018, and 1 member has since signed on as a cosponsor.
They are 1 Republican.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on April 17, 2018, 3068 days ago. The most recent recorded action was 3068 days ago, on April 17, 2018.
Measures do not carry over. Anything the 115th Congress has not finished by January 3, 2019 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers