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Making Permanent Key Tax Cuts and Deduction Changes for Individuals and Families.

This Act permanently extends major tax reforms from 2017 that were scheduled to expire, ensuring lower individual income tax rates and a doubled standard deduction remain in place indefinitely. Citizens benefit from a permanently higher Child Tax Credit ($2,000) and a doubled estate and gift tax exemption. However, the $10,000 cap on deducting State and Local Taxes (SALT) and the elimination of most miscellaneous itemized deductions are also made permanent.
Key points
Individual income tax rates are permanently lowered, and the standard deduction is permanently increased, reducing the tax burden for most households.
The $10,000 cap on deducting State and Local Taxes (SALT) is made permanent, along with the elimination of deductions for moving expenses (except for military personnel).
The Child Tax Credit is permanently set at $2,000 per child, and the estate and gift tax exemption is permanently doubled.
The Alternative Minimum Tax (AMT) exemption for individuals is permanently increased, reducing the likelihood of being subject to this parallel tax system.
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Additional Information
Print number: 118_HR_976
Sponsor: Rep. Buchanan, Vern [R-FL-16]
Process start date: 2023-02-10
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

TCJA Permanency Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_976.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-02-10.

What are the main provisions?

Key points include:

  • Individual income tax rates are permanently lowered, and the standard deduction is permanently increased, reducing the tax burden for most households.
  • The $10,000 cap on deducting State and Local Taxes (SALT) is made permanent, along with the elimination of deductions for moving expenses (except for military personnel).
  • The Child Tax Credit is permanently set at $2,000 per child, and the estate and gift tax exemption is permanently doubled.
  • The Alternative Minimum Tax (AMT) exemption for individuals is permanently increased, reducing the likelihood of being subject to this parallel tax system.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Buchanan, Vern [R-FL-16].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Family Education