Bill117th CongressFiled Jan 28, 2021Taxation
S. 126
A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in senate (Jan 28, 2021)
This bill makes permanent several tax provisions for individual taxpayers that were enacted by the Tax Cuts and Jobs Act of 2017 and are scheduled to expire at the end of 2025. These provisions include reduction of individual income tax rates, increase in the child tax credit, limitations on the tax deduction for state and local taxes and the mortgage interest deduction, and increase in the exemption amount for estate and gift taxes.
What just happenedJan 28, 2021
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Cruz, Ted [R-TX](R-TX)Sponsor
3 cosponsors3 R
3cosponsors1committees2actions3related bills26subjects
- Introduced in SenateJan 28, 2021
- Jan 28, 2021IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Jan 28, 2021IntroReferral10000
Introduced in Senate