CD183: Tax Cuts... For Some of US

Taxes: We all hate them but we all have to pay them. In December 2017, the Republicans in Congress rushed major changes to our tax policy into law. In this episode, host Jen Briney and her accountant friend, Alexis Claypool, explain the most significant changes to how our tax payments are going to be calculated and how these changes are likely to affect us. You will also learn about a major dingleberry that hitchhiked its way into law attached to this bill. Joe Briney joins Jen for the Thank Yous.

---

Please Support Congressional Dish - Quick Links

• Click here to contribute a lump sum or set up a monthly contribution via PayPal

• Click here to support Congressional Dish for each episode via Patreon

• Send Zelle payments to: [e-mail]

• Send Venmo payments to: @Jennifer-Briney

• Use your bank’s online bill pay function to mail contributions to:

5753 Hwy 85 North Number 4576 Crestview, FL 32536

Please make checks payable to Congressional Dish

Thank you for supporting truly independent media!

---

H.R. 1: An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.

 

Subtitle A - Individual Tax Reform

Part I - Tax Rate Reform

Sec. 11001. Modification of Rates

Married Individuals Filing Joint Returns

Heads of Households

Unmarried Individuals

Inflation Adjustment

Part II - Deduction for Qualified Business Income of Pass-Thru Entities

Sec. 11011. Deduction for Qualified Business Income

Phase-In of Limit for Certain Taxpayers

Qualified Business Income

Exception for specified service businesses based on taxpayer's income

Threshold Amount

Application to partnerships and S Corporations

Part III - Tax Benefits for Families and Individuals

Sec. 11021. Increase in Standard Deduction

Sec. 11022. Increase in and Modification of Child Tax Credit.

Sec. 11027. Temporary Reduction in Medical Expense Deduction Floor.

Special Rules for Use of Retirement Funds with Respect to