H.R. 6760 - 115th Congress (2017-2018) - Protecting Family and Small Business Tax Cuts Act of 2018

This bill amends the Internal Revenue Code to make permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025.

The bill makes permanent provisions that:

reduce individual tax rates,
modify the taxation of the unearned income of children,
allow a deduction for qualified business income of pass-through entities,
increase the standard deduction,
increase and modify the child tax credit,
increase the limitation for certain charitable contributions,
allow additional contributions to ABLE accounts (tax-favored accounts designed to enable individuals with disabilities to save for and pay for disability-related expenses),
allow certain members of the Armed Forces in the Sinai Peninsula of Egypt to receive combat zone tax benefits,
exclude from gross income discharges of student loan debt due to the death or disability of the student,
repeal the deduction for personal exemptions,
limit individual deductions for state and local taxes,
limit the mortgage interest deduction,
double the estate and gift tax exemption amount,
increase the alternative minimum tax exemption amount for individuals, and
repeal or limit several other deductions and exclusions.

The bill also:

extends through 2020 the reduction in the adjusted gross income threshold for the medical expense deduction,
modifies the capital gains tax brackets, and
modifies tax filing requirements for married taxpayers.

Text (4)

October 1, 2018

September 28, 2018

September 24, 2018

September 10, 2018

Amendments (1)

Sep 28, 2018

Offered in House

Sponsorship

House Amendment 972

Pursuant to H.Res. 1084, the amendment in the nature of a substitute recommended by the Committee on Ways and Means printed in part C of House Report 115-985 is adopted.

Submitted

Actions (22)

Show Only Major Actions

10/01/2018

Received in the Senate and Read twice and referred to the Committee on Finance.

09/28/2018

Motion to reconsider laid on the table Agreed to without objection.

09/28/2018

On passage Passed by the Yeas and Nays: 220 - 191 (Roll no. 414).

09/28/2018

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 220 - 191 (Roll no. 414).

09/28/2018

On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 226 (Roll no. 413).

09/28/2018

Considered as unfinished business. (consideration: CR H9256)

09/28/2018

POSTPONED PROCEEDINGS - At the conclusion of debate on the Larson (CT) motion to recommit with instructions, the Chair put the question on the motion to recommit, and announced by voice vote that the noes had prevailed. Mr. Larson (CT) demanded the yeas and nays, and the Chair postponed further proceedings on the motion to recommit until later in the legislative day.

09/28/2018

The previous question on the motion to recommit with instructions was ordered without objection.

09/28/2018

DEBATE - The House proceeded with 10 minutes of debate on the Larson (CT) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add at the end the following new title: Title III - Effective Date; "Protect Medicare and Social Security Trust Funds Act of 2018"

09/28/2018

Mr. Larson (CT) moved to recommit with instructions to the Committee on Ways and Means. (text: CR H9172-9173)

09/28/2018

The previous question was ordered pursuant to the rule.

09/28/2018

DEBATE - The House proceeded with one hour of debate on H.R. 6760.

09/28/2018

Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760.

09/28/2018

Considered under the provisions of rule H. Res. 1084. (consideration: CR H9158-9174; text of amendment in the nature of a substitute: CR H9158-9165)

09/27/2018

Rule H. Res. 1084 passed House.

09/26/2018

Rules Committee Resolution H. Res. 1084 Reported to House. Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760.

09/24/2018

Placed on the Union Calendar, Calendar No. 746.

09/24/2018

Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-958.

09/13/2018

Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 21 - 15.

09/13/2018

Committee Consideration and Mark-up Session Held.

09/10/2018

Referred to the House Committee on Ways and Means.

09/10/2018

Introduced in House

Public Record

Record Updated

Jan 11, 2023 1:41:34 PM