This bill amends the Internal Revenue Code to make permanent provisions included in P.L. 115-97 (commonly known as the Tax Cuts and Jobs Act) that: (1) reduced the individual tax rates, and (2) modified the taxation of the unearned income of children. The existing individual tax rates (10%, 12%, 22%, 24%, 32%, 35%, and 37%) are currently scheduled to expire and revert to higher rates at the end of 2025.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2018-01-10 | IntroReferral | Read twice and referred to the Committee on Finance. | Senate |
| 2018-01-10 | IntroReferral | Introduced in Senate | Library of Congress |