HR 3936 · 118th Congress · Taxation

Tax Cuts for Working Families Act

Introduced 2023-06-09· Sponsored by Rep. Smith, Jason [R-MO-8]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Placed on the Union Calendar, Calendar No. 101.(2023-06-30)

Plain Language Summary

[AI summary unavailable — showing source text] Tax Cuts for Working Families Act This bill renames the standard tax deduction as the guaranteed deduction. It allows an additional bonus amount of $2,000 ($4,000 for married couples filing jointly) in taxable years beginning in 2024 and 2025 but reduces the bonus amount for taxpayers whose modified adjusted gross income exceeds $200,000 ($400,000 for joint filers).…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 3936, Tax Cuts for Working Families Act

Jun 30, 2023

As ordered reported by the House Committee on Ways and Means on June 13, 2023

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office