H.R. 5372 · 115th Congress
Tax Cuts and Jobs Middle Class Enhancement Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
MitchellSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to exclude from gross income up to $5,000 received by an individual as a bonus after December 22, 2017, and before January 1, 2019. The bill defines a "bonus" as amounts paid to an employee other than amounts obligated under an employment contract.
What it does: CRS summary · Introduced in House · Mar 21, 2018
Tax Cuts and Jobs Middle Class Enhancement Act
This bill amends the Internal Revenue Code to exclude from gross income up to $5,000 received by an individual as a bonus after December 22, 2017, and before January 1, 2019. The bill defines a "bonus" as amounts paid to an employee other than amounts obligated under an employment contract.
The bill makes permanent the tax reductions and other provisions for individuals that were enacted in P.L 115-97 (commonly known as the Tax Cuts and Jobs Act) and are scheduled to expire at the end of 2025.
The bill also:
- increases the standard deduction,
- makes permanent the reduction in the adjusted gross income threshold that must be exceeded before a taxpayer is allowed to claim an itemized deduction for medical expenses, and
- increases the refundable portion of the child tax credit.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Tax Cuts and Jobs Middle Class Enhancement Act
Latest action (Mar 21, 2018): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 21, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.