Middle Class Tax Cut Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7303 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7303 To amend the Internal Revenue Code of 1986 to reform the individual income tax rates. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 30, 2026 Mr. Thanedar introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to reform the individual income tax rates. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Middle Class Tax Cut Act''. SEC. 2. INCREASED STANDARD DEDUCTION. (a) In General.--Section 63(c)(2) of the Internal Revenue Code of 1986 is amended-- (1) in subparagraph (B), by striking ``$4,400'' and inserting ``$75,000'', and (2) in subparagraph (C), by striking ``$3,000'' and inserting ``$50,000''. (b) Conforming Amendments.--Section 63(c)(4) of such Code is amended-- (1) by inserting ``(…