The inheritance and gift tax exemptions are increased to $15 million for individuals and $30 million for couples and are pinned to inflation.
favors the rich like The Trump family
The 2017 tax law’s
lower marginal tax rates, higher standard deduction, and cancellation of personal exemptions are all maintained and made permanent.
no change
The child tax credit is boosted $200 to $2,200
wow 2oo dollars more,, gee don't spend it in one place. Well if you have more kids means more money from taxes. Still got to pay for food, clothing, medical expenses and toys
SALT - yeah look it up Starting in 2030, the cap goes back down to $10,000.
Tipped wages can be deducted up to $25,000 and overtime wages up to $12,500, with phaseouts starting at an annual income threshold of $150,000 for single filers.
Domestic business tax cuts
the reduction of the corporate tax rate to 21 percent from 35 percent. The current bill preserves that reduction.
Favors businesses
biggest companies in the Fortune 500 and S&P 500 saw the share of profits they paid in tax drop from 22 percent to 12.8 percent
favor businesses of cource
Also another break that I won't list but if favors businesses like Trump
The bill also preserves the 20-percent deduction for pass-through business income
favors businesses.
Some break for the people but a lot of breaks for businesses.
Funny Trump is a businessman
