In CommitteeFiled Jan 30, 2026
Sponsor: Rep. Thanedar, Shri [D-MI-13] (D)
Latest Action
Referred to the House Committee on Ways and Means.
Jan 30, 2026
Summary
The bill lifts the standard deduction to $75,000 for single filers and $50,000 for married filing separately, and replaces current tax tables with new rates that start at 25% and rise to 70% for higher incomes. It changes the brackets for joint returns, heads of households, other individuals, and estates, and removes the special reduced capital‑gains rate. The changes would apply to taxable years beginning after Dec. 31, 2025.
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