Permanent Extension of Rate Cuts and Extension of National Tax Simplification Act of 2022
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 23, 2022)
Permanent Extension of Rate Cuts and Extension of National Tax Simplification Act of 2022 or the PERCENTS Act of 2022
This bill makes permanent provisions in Public Law 115-97 (also known as the Tax Cuts and Jobs Act) relating to individual taxpayers, including the modification of individual income and capital gains tax rates and the increased exemption for the alternative minimum tax. It also increases the standard tax deduction and repeals the limitation on itemized tax deductions.
What just happenedJun 23, 2022
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJun 23, 2022
- Jun 23, 2022IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jun 23, 2022IntroReferralIntro-H
Introduced in House
- Jun 23, 2022IntroReferral1000
Introduced in House