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11.9.17 Policy Highlights.pdf
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🔗 Source: finance.senate.gov
📊 Size: 127 KB
📄 Pages: 2 pages
⬇️ Downloads: 101

Summary

The Tax Cuts and Jobs Act provides tax relief by cutting rates, reducing the tax burden on job creators, and modernizing the tax system. A typical family of four earning $73,000 will see a $1,500 tax cut. The bill lowers individual tax rates, nearly doubles the standard deduction, and expands the child tax credit. It also preserves deductions for charitable contributions, mortgage interest, and medical expenses, and repeals the alternative minimum tax. Additionally, it permanently lowers the corporate tax rate to 20% and provides relief for small businesses and pass-through entities.

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Description

The Tax Cuts and Jobs Act provides tax relief by cutting rates, reducing the tax burden on job creators, and modernizing the tax system.

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  • File Format: PDF
  • File Size: 127 KB
  • Pages: 2
  • Language: EN
  • Total Downloads: 101
  • Last Updated: 1 month ago

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