Protecting Family and Small Business Tax Cuts Act of 2022

Summary

Protecting Family and Small Business Tax Cuts Act of 2022 This bill makes permanent provisions affecting individual and business taxpayers that were enacted in 2017 by the Tax Cuts and Jobs Act and are scheduled to expire at the end of 2025. The bill makes permanent provisions that reduce individual and capital gain tax rates. The bill increases the standard tax deduction for individual taxpayers. It also increases and modifies the child tax credit and raises the contribution base for the tax deduction of charitable contributions. The bill allows additional contributions to ABLE accounts (tax-exempt accounts designed to enable individuals with disabilities to save and pay for disability-related expenses). It exempts from taxation combat zone benefits of members of the Armed Forces serving in the Sinai Peninsula of Egypt and the moving expenses of servicemembers. Additionally, the bill lowers to $750,000 the amount of mortgage debt eligible for an interest expense tax deduction; excludes from the gross income of student borrowers income attributable to the discharge after 2025 of loan debt due to death or disability; makes permanent the limitation on the tax deduction for state and local taxes and denies a deduction for foreign real property taxes; makes permanent the tax deduction of the income of certain pass-through business entities; repeals the tax deduction for personal tax exemptions and the exclusion of employer-provided bicycle commuter fringe benefits; terminates certain miscellaneous itemized tax deductions; doubles the estate and gift tax exemption amount; and makes permanent the increase of the alternative minimum tax exemption amount for individual taxpayers.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 9 February 2022

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 9 February 2022

   Introduced

   Introduced in House

   Source: IntroReferral

3. 9 February 2022

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 9 February 2022 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 9 February 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 9 February 2022

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 9 February 2022

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  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Davis, Rodney [R-IL-13] · R · Sponsor
• Rep. Brady, Kevin [R-TX-8] · R · Sponsor
• Rep. Walorski, Jackie [R-IN-2] · R · Sponsor
• Rep. McCaul, Michael T. [R-TX-10] · R · Sponsor
• Rep. Salazar, Maria Elvira [R-FL-27] · R · Sponsor
• Rep. Smith, Adrian [R-NE-3] · R · Sponsor
• Rep. Wagner, Ann [R-MO-2] · R · Sponsor
• Rep. Smith, Jason [R-MO-8] · R · Sponsor
• Rep. Thompson, Glenn [R-PA-15] · R · Sponsor
• Rep. Rogers, Mike D. [R-AL-3] · R · Sponsor
• Rep. Bost, Mike [R-IL-12] · R · Sponsor
• Rep. Crenshaw, Dan [R-TX-2] · R · Sponsor
• Rep. Johnson, Bill [R-OH-6] · R · Sponsor
• Rep. Reschenthaler, Guy [R-PA-14] · R · Sponsor
• Rep. Rouzer, David [R-NC-7] · R · Sponsor
• Rep. Upton, Fred [R-MI-6] · R · Sponsor
• Rep. Carter, Earl L. "Buddy" [R-GA-1] · R · Sponsor
• Peter Meijer · R · Sponsor
• Rep. Moore, Blake D. [R-UT-1] · R · Sponsor
• Rep. Chabot, Steve [R-OH-1] · R · Sponsor
• Rep. Schweikert, David [R-AZ-1] · R · Sponsor
• Rep. Bucshon, Larry [R-IN-8] · R · Sponsor
• Rep. Herrera Beutler, Jaime [R-WA-3] · R · Sponsor
• Rep. Dunn, Neal P. [R-FL-2] · R · Sponsor
• Rep. McKinley, David B. [R-WV-1] · R · Sponsor
• Rep. Cammack, Kat [R-FL-3] · R · Sponsor
• Rep. Miller-Meeks, Mariannette [R-IA-1] · R · Sponsor
• Rep. Van Duyne, Beth [R-TX-24] · R · Sponsor
• Rep. Arrington, Jodey C. [R-TX-19] · R · Sponsor
• Rep. Mann, Tracey [R-KS-1] · R · Sponsor
• Rep. Mast, Brian J. [R-FL-21] · R · Sponsor
• Rep. Stauber, Pete [R-MN-8] · R · Sponsor
• Rep. Wenstrup, Brad R. [R-OH-2] · R · Sponsor
• Rep. Bacon, Don [R-NE-2] · R · Sponsor
• Rep. Moolenaar, John R. [R-MI-2] · R · Sponsor
• Rep. Miller, Carol D. [R-WV-1] · R · Sponsor
• Rep. Meuser, Daniel [R-PA-9] · R · Sponsor
• Yvette Herrell · R · Sponsor
• Rep. Guthrie, Brett [R-KY-2] · R · Sponsor
• Rep. McMorris Rodgers, Cathy [R-WA-5] · R · Sponsor
• Rep. Steil, Bryan [R-WI-1] · R · Sponsor
• Rep. Baird, James R. [R-IN-4] · R · Sponsor
• Rep. Franklin, Scott [R-FL-18] · R · Sponsor
• Rep. Hern, Kevin [R-OK-1] · R · Sponsor
• Rep. Tenney, Claudia [R-NY-24] · R · Sponsor
• Rep. Joyce, David P. [R-OH-14] · R · Sponsor
• Rep. Luetkemeyer, Blaine [R-MO-3] · R · Sponsor
• Rep. Gohmert, Louie [R-TX-1] · R · Sponsor

Showing 48 of 113 sponsors and actors.

Related records

• related to ← PERCENTS Act of 2022
• related to ← TCJA Permanency Act