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Middle Class Tax Cut Act: Higher Deductions and New Tax Brackets

The bill amends the Internal Revenue Code of 1986 to increase the standard deduction to $75,000 and $50,000 depending on filing status. It establishes new tax brackets ranging from 25% to 70% and repeals reduced tax rates on capital gains.
Key points
Increases the standard deduction to $75,000 (replacing $4,400) and $50,000 (replacing $3,000) in the respective code subparagraphs.
Establishes new tax tables with rates of 25%, 30%, 40%, 50%, and 70%.
The top rate of 70% applies to taxable income over $2 million (joint returns), $1.5 million (heads of households), or $1 million (other individuals).
Repeals the subsection providing reduced tax rates on capital gains.
Amendments apply to taxable years beginning after December 31, 2025.
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Status: Introduced
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Additional Information
Print number: 119_HR_7303
Sponsor: Rep. Thanedar, Shri [D-MI-13]
Process start date: 2026-01-30
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Middle Class Tax Cut Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_7303.

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 2026-01-30.

What are the main provisions?

Key points include:

  • Increases the standard deduction to $75,000 (replacing $4,400) and $50,000 (replacing $3,000) in the respective code subparagraphs.
  • Establishes new tax tables with rates of 25%, 30%, 40%, 50%, and 70%.
  • The top rate of 70% applies to taxable income over $2 million (joint returns), $1.5 million (heads of households), or $1 million (other individuals).
  • Repeals the subsection providing reduced tax rates on capital gains.
  • Amendments apply to taxable years beginning after December 31, 2025.
What is the specific legal status?

The current status is Introduced.

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. Thanedar, Shri [D-MI-13].

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 2026-02-20.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Economy