| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 1130 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to increase the additional |
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| 6 | 6 | | standard deduction for seniors. |
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| 7 | 7 | | IN THE HOUSE OF REPRESENTATIVES |
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| 8 | 8 | | FEBRUARY7, 2025 |
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| 9 | 9 | | Ms. M |
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| 10 | 10 | | ALLIOTAKIS(for herself, Mr. PANETTA, and Mr. CAREY) introduced the |
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| 11 | 11 | | following bill; which was referred to the Committee on Ways and Means |
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| 12 | 12 | | A BILL |
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| 13 | 13 | | To amend the Internal Revenue Code of 1986 to increase |
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| 14 | 14 | | the additional standard deduction for seniors. |
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| 15 | 15 | | Be it enacted by the Senate and House of Representa-1 |
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| 16 | 16 | | tives of the United States of America in Congress assembled, 2 |
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| 17 | 17 | | SECTION 1. SHORT TITLE. 3 |
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| 18 | 18 | | This Act may be cited as the ‘‘Bonus Tax Relief for 4 |
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| 19 | 19 | | America’s Seniors Act’’. 5 |
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| 20 | 20 | | SEC. 2. INCREASE IN ADDITIONAL STANDARD DEDUCTION 6 |
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| 21 | 21 | | FOR SENIORS. 7 |
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| 22 | 22 | | (a) I |
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| 23 | 23 | | NGENERAL.—Section 63(f)(1) of the Internal 8 |
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| 24 | 24 | | Revenue Code of 1986 is amended by striking ‘‘$600’’ and 9 |
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| 25 | 25 | | inserting ‘‘$5,000’’. 10 |
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| 26 | 26 | | VerDate Sep 11 2014 19:42 Mar 11, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1130.IH H1130 |
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| 27 | 27 | | ssavage on LAPJG3WLY3PROD with BILLS 2 |
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| 28 | 28 | | •HR 1130 IH |
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| 29 | 29 | | (b) INFLATIONADJUSTMENT.—Section 63(f) of such 1 |
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| 30 | 30 | | Code is amended by adding at the end the following new 2 |
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| 31 | 31 | | paragraph: 3 |
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| 32 | 32 | | ‘‘(5) I |
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| 33 | 33 | | NFLATION ADJUSTMENT .— 4 |
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| 34 | 34 | | ‘‘(A) I |
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| 35 | 35 | | N GENERAL.—In the case of any 5 |
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| 36 | 36 | | taxable year beginning after December 31, 6 |
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| 37 | 37 | | 2026, the $5,000 amount in paragraph (1) 7 |
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| 38 | 38 | | shall be increased by an amount equal to— 8 |
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| 39 | 39 | | ‘‘(i) such dollar amount, multiplied by 9 |
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| 40 | 40 | | ‘‘(ii) the cost-of-living adjustment de-10 |
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| 41 | 41 | | termined under section 1(f)(3) for the cal-11 |
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| 42 | 42 | | endar year in which the taxable year be-12 |
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| 43 | 43 | | gins by substituting ‘calendar year 2025’ 13 |
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| 44 | 44 | | for ‘calendar year 2016’ in subparagraph 14 |
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| 45 | 45 | | (A)(ii) thereof. 15 |
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| 46 | 46 | | ‘‘(B) R |
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| 47 | 47 | | OUNDING.—If any increase deter-16 |
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| 48 | 48 | | mined under subparagraph (A) is not a multiple 17 |
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| 49 | 49 | | of $50, such increase shall be rounded to the 18 |
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| 50 | 50 | | next lowest multiple of $50. 19 |
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| 51 | 51 | | ‘‘(C) C |
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| 52 | 52 | | ROSS REFERENCE .—For inflation 20 |
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| 53 | 53 | | adjustment of additional amounts for blind, see 21 |
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| 54 | 54 | | subsection (c)(4).’’. 22 |
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| 55 | 55 | | (c) C |
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| 56 | 56 | | ONFORMINGAMENDMENTS.— 23 |
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| 57 | 57 | | (1) Section 63(c)(4) of such Code is amended— 24 |
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| 58 | 58 | | VerDate Sep 11 2014 19:42 Mar 11, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1130.IH H1130 |
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| 59 | 59 | | ssavage on LAPJG3WLY3PROD with BILLS 3 |
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| 60 | 60 | | •HR 1130 IH |
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| 61 | 61 | | (A) by striking ‘‘or subsection (f)’’ in the 1 |
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| 62 | 62 | | matter preceding subparagraph (A) and insert-2 |
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| 63 | 63 | | ing ‘‘, or paragraph (2) or (3) of subsection 3 |
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| 64 | 64 | | (f),’’ and, 4 |
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| 65 | 65 | | (B) by striking ‘‘or subsection (f)’’ in sub-5 |
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| 66 | 66 | | paragraph (B)(i) and inserting ‘‘, or paragraph 6 |
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| 67 | 67 | | (2) or (3) of subsection (f)’’. 7 |
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| 68 | 68 | | (2) Section 63(f)(3) of such Code is amended— 8 |
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| 69 | 69 | | (A) by striking ‘‘paragraphs (1) and (2)’’ 9 |
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| 70 | 70 | | and inserting ‘‘paragraph (2)’’, and 10 |
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| 71 | 71 | | (B) by inserting ‘‘ |
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| 72 | 72 | | BLIND’’ after ‘‘UNMAR-11 |
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| 73 | 73 | | RIED’’ in the heading thereof. 12 |
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| 74 | 74 | | (d) E |
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| 75 | 75 | | FFECTIVEDATE.—The amendments made by 13 |
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| 76 | 76 | | this section shall apply to taxable years beginning after 14 |
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| 77 | 77 | | December 31, 2025. 15 |
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| 78 | 78 | | Æ |
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| 79 | 79 | | VerDate Sep 11 2014 19:42 Mar 11, 2025 Jkt 059200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H1130.IH H1130 |
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| 80 | 80 | | ssavage on LAPJG3WLY3PROD with BILLS |
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