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The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.
The Tax Reform Act of 1986 (TRA) was passed by the 99th United States Congress and signed into law by President Ronald Reagan on October 22, 1986. The Tax Reform Act of 1986 was the top domestic priority of President Reagan's second term.
A top fiscally conservative political advocacy group is launching a $20 million campaign to urge Congress "to protect prosperity" by renewing the Trump tax cuts, which expire this year.
The Tax Cuts and Jobs Act, the 2017 tax reform bill, provided full business expensing, allowing employers to fully deduct capital expenditures, along with research and development costs, in year one.
The Tax Cuts and Jobs Act impacted both individuals and families, primarily based on their filing status, income level and eligible deductions. For the most part, the TCJA simplified individual ...
The alternative minimum tax (AMT) is a tax imposed by the United States federal government in addition to the regular income tax for certain individuals, estates, and trusts. As of tax year 2018, the AMT raises about $5.2 billion, or 0.4% of all federal income tax revenue, affecting 0.1% of taxpayers, mostly in the upper income ranges. [1] [2]
House Republicans are heading into the new Congress with a lofty set of tax reform goals, an ambitious agenda made more difficult by a razor-thin majority. Republicans are on track to have a ...
The Act also addressed the activation of the Budget Control Act of 2011's budget sequestration provisions. A compromise measure, the Act gives permanence to the lower rate of much of the Bush tax cuts, while retaining the higher tax rate at upper income levels that became effective on January 1 due to the expiration of the Bush tax cuts.