TCJA Permanency Act
Latest action · Jan 3, 2025 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 3, 2025
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
TCJA Permanency Act
This bill makes permanent multiple federal tax provisions enacted in 2017 by the Tax Cuts and Jobs Act.
The bill makes permanent the
- individual tax rates of 10%, 12%, 22%, 24%, 32%, 35%, and 37%;
- increased standard deduction;
- personal exemption allowance repeal;
- exclusion from income of student loans discharged due to death or disability;
- qualified business income tax deduction (199A tax deduction);
- allowance of ABLE account contributions in excess of the annual gift tax exclusion amount;
- base estate and gift tax exclusion amount of $10 million (adjusted annually); and
- alternative minimum tax exemption and phaseout amounts for noncorporate taxpayers.
The bill makes permanent the child tax credit amounts of $2,000 per child and $500 for dependents, the $200,000 phaseout threshold ($400,000 for joint filers), and the refundable portion of the tax credit.
The bill expands the expenses eligible for tax-free withdrawals from qualified tuition plans (529 plans) to include additional expenses associated with homeschool and elementary and secondary schools (e.g., instructional materials, tutoring, test and enrollment fees, and educational therapies).
The bill permanently eliminates certain miscellaneous itemized deductions and makes permanent the
- state and local tax deduction limit of $10,000 ($5,000 for married individuals filing separately),
- mortgage interest tax deduction limit of $750,000 ($375,000 for married individuals filing separately),
- limit on the deduction of cash charitable contributions to 60% of a taxpayer’s adjusted gross income, and
- certain limits on casualty loss tax deductions.
The bill also permanently eliminates the exclusion from income for employer-reimbursed bicycle commuting expenses.
Cosponsors 53
Members who signed on, in the order they did. Signatures ran from Jan 3, 2025 to Dec 9, 2025, with 30 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-NE | Adrian Smith | Original | Jan 3, 2025 |
| R-GA | Andrew S. Clyde | Original | Jan 3, 2025 |
| R-KY | Andy Barr | Original | Jan 3, 2025 |
| R-IA | Ashley Hinson | Original | Jan 3, 2025 |
| R-TX | Beth Van Duyne | Original | Jan 3, 2025 |
| R-WV | Carol D. Miller | Original | Jan 3, 2025 |
| R-NY | Claudia Tenney | Original | Jan 3, 2025 |
| R-TX | Dan Crenshaw | Original | Jan 3, 2025 |
| R-PA | Daniel Meuser | Original | Jan 3, 2025 |
| R-IL | Darin LaHood | Original | Jan 3, 2025 |
| R-TN | David Kustoff | Original | Jan 3, 2025 |
| R-NC | David Rouzer | Original | Jan 3, 2025 |
| R-GA | Earl L. "Buddy" Carter | Original | Jan 3, 2025 |
| R-WI | Glenn Grothman | Original | Jan 3, 2025 |
| R-TX | Jake Ellzey | Original | Jan 3, 2025 |
Actions 2
Everything that happened, newest first.
- Jan 3, 2025Introduced in House
- Jan 3, 2025Referred to the House Committee on Ways and Means.
Related bills 6
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 152 | Untitled | — | — |
| S 152 | Student Empowerment Act | Related bill | Jan 20, 2025 |
| HR 523 | Untitled | — | — |
| HR 523 | Permanent Tax Cuts for American Families Act of 2025 | Related bill | Jan 16, 2025 |
| HR 939 | Untitled | — | — |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Capital gains tax
- Charitable contributions
- Disability assistance
- Egypt
- Foreign property
- Income tax credits
- Income tax deductions
- Income tax rates
- Middle East
- Military personnel and dependents
- Small business
- State and local finance
- Tax administration and collection, taxpayers
- Tax treatment of families
- Taxation
- Transfer and inheritance taxes
Text 1
Each version as it was printed, newest first.
- Jan 3, 2025Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.