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Tax Deduction Bill

Posted on 6th February 2018 at 08:23

Third District Congresswoman Jaime Herrera Beutler is helping to introduce a bill that would make recently-passed individual tax cuts permanent, rather than having them sunset in 2025. Beutler claims that the average family of four will get to keep nearly $2,400 per year, after the passage of the Tax Cuts and Jobs Act. She says that getting this new bill passed will make the individual tax cuts permanent. Beutler contends that last year’s bill helped citizens to keep more of their money, allowing families “to have a little more have a little more financial security to save, invest and plan for the future.” She also contends that Congress should make that relief permanent, rather than having the cuts expire in 2025. Some provisions that would be made permanent include modified tax brackets and lower rates, an increased standard deduction, improved child tax credits, increased limits for charitable deductions, an increased estate tax deduction, expansion of pre-paid plans to pay for education, and a newly-created deduction for small businesses. This bill is just beginning the process, and hasn’t yet been scheduled for any hearings.