House Bill 6760
115th Congress(2017-2018)
Protecting Family and Small Business Tax Cuts Act of 2018
Active
Amendments
Active
Passed House on Sep 28, 2018
Overview
Text
Introduced
Sep 10, 2018
Latest Action
Oct 1, 2018
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6760
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
House Votes (3)
Senate Votes (0)
Passed
September 28, 2018
Type
Passage Of A Measure
House Roll Call Votes
Summary

Protecting Family and Small Business Tax Cuts Act of 2018

This bill amends the Internal Revenue Code to make permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025.

The bill makes permanent provisions that:

  • reduce individual tax rates,
  • modify the taxation of the unearned income of children,
  • allow a deduction for qualified business income of pass-through entities,
  • increase the standard deduction,
  • increase and modify the child tax credit,
  • increase the limitation for certain charitable contributions,
  • allow additional contributions to ABLE accounts (tax-favored accounts designed to enable individuals with disabilities to save for and pay for disability-related expenses),
  • allow certain members of the Armed Forces in the Sinai Peninsula of Egypt to receive combat zone tax benefits,
  • exclude from gross income discharges of student loan debt due to the death or disability of the student,
  • repeal the deduction for personal exemptions,
  • limit individual deductions for state and local taxes,
  • limit the mortgage interest deduction,
  • double the estate and gift tax exemption amount,
  • increase the alternative minimum tax exemption amount for individuals, and
  • repeal or limit several other deductions and exclusions.

The bill also:

  • extends through 2020 the reduction in the adjusted gross income threshold for the medical expense deduction,
  • modifies the capital gains tax brackets, and
  • modifies tax filing requirements for married taxpayers.
Text (4)
October 1, 2018
September 28, 2018
September 24, 2018
September 10, 2018
Amendments (1)
Sep 28, 2018
Offered in House
0
Sponsorship
House Amendment 972
Pursuant to H.Res. 1084, the amendment in the nature of a substitute recommended by the Committee on Ways and Means printed in part C of House Report 115-985 is adopted.
Submitted
Public Record
Record Created
Sep 11, 2018 7:10:39 AM
Record Updated
Mar 2, 2022 3:42:54 PM