Us Congress 2025-2026 Regular Session

Us Congress House Bill HB137 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 137
5	5	To amend the Internal Revenue Code of 1986 to make permanent certain
6	6	provisions of the Tax Cuts and Jobs Act affecting individuals, families,
7	7	and small businesses, and for other purposes.
8	8	IN THE HOUSE OF REPRESENTATIVES
9	9	JANUARY3, 2025
10	10	Mr. B
11	11	UCHANAN(for himself, Mr. SMITHof Nebraska, Mr. LAHOOD, Mr.
12	12	E
13	13	STES, Mrs. MILLERof West Virginia, Mr. KUSTOFF, Ms. TENNEY, Ms.
14	14	V
15	15	ANDUYNE, Mr. FEENSTRA, Mr. CAREY, Mr. YAKYM, Mr. MORAN, Mr.
16	16	M
17	17	ILLERof Ohio, Mr. RUTHERFORD, Mr. CRENSHAW, Mr. GUEST, Mr.
18	18	M
19	19	OOLENAAR, Mr. AMODEIof Nevada, Mr. FULCHER, Mr. ELLZEY, Mr.
20	20	G
21	21	ROTHMAN, Mr. MEUSER, Mr. CLYDE, Mr. ROUZER, Mrs. HINSON, Mr.
22	22	R
23	23	ULLI, Mr. EZELL, Mr. BOST, Mr. BARR, Mr. WEBERof Texas, and Mr.
24	24	C
25	25	ARTERof Georgia) introduced the following bill; which was referred to
26	26	the Committee on Ways and Means
27	27	A BILL
28	28	To amend the Internal Revenue Code of 1986 to make
29	29	permanent certain provisions of the Tax Cuts and Jobs
30	30	Act affecting individuals, families, and small businesses,
31	31	and for other purposes.
32	32	Be it enacted by the Senate and House of Representa-1
33	33	tives of the United States of America in Congress assembled, 2
34	34	SECTION 1. SHORT TITLE, ETC. 3
35	35	(a) S
36	36	HORTTITLE.—This Act may be cited as the 4
37	37	‘‘TCJA Permanency Act’’. 5
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40	40	•HR 137 IH
41	41	(b) AMENDMENT OF 1986 CODE.—Except as other-1
42	42	wise expressly provided, whenever in this Act an amend-2
43	43	ment or repeal is expressed in terms of an amendment 3
44	44	to, or repeal of, a section or other provision, the reference 4
45	45	shall be considered to be made to a section or other provi-5
46	46	sion of the Internal Revenue Code of 1986. 6
47	47	(c) R
48	48	EFERENCES TO THE TAXCUTS ANDJOBS 7
49	49	A
50	50	CT.—Title I of Public Law 115–97 may be cited as the 8
51	51	‘‘Tax Cuts and Jobs Act’’. 9
52	52	(d) T
53	53	ABLE OFCONTENTS.—The table of contents of 10
54	54	this Act is as follows: 11
55	55	Sec. 1. Short title, etc.
56	56	TITLE I—INDIVIDUAL REFORM MADE PERMANENT
57	57	Subtitle A—Rate Reform
58	58	Sec. 101. Modification of rates.
59	59	Subtitle B—Deduction for Qualified Business Income of Pass-Thru Entities
60	60	Sec. 111. Deduction for qualified business income.
61	61	Sec. 112. Limitation on losses for taxpayers other than corporations.
62	62	Subtitle C—Tax Benefits for Families and Individuals
63	63	Sec. 121. Increase in standard deduction.
64	64	Sec. 122. Increase in and modification of child tax credit.
65	65	Sec. 123. Increased limitation for certain charitable contributions.
66	66	Sec. 124. Increased contributions to ABLE accounts.
67	67	Sec. 125. Rollovers to ABLE programs from 529 programs.
68	68	Sec. 126. Treatment of certain individuals performing services in the Sinai Pe-
69	69	ninsula of Egypt.
70	70	Subtitle D—Education
71	71	Sec. 131. Treatment of student loan discharges.
72	72	Sec. 132. 529 account funding for homeschool and additional elementary and
73	73	secondary expenses.
74	74	Subtitle E—Deductions and Exclusions
75	75	Sec. 141. Repeal of deduction for personal exemptions.
76	76	Sec. 142. Limitation on deduction for State and local, etc., taxes.
77	77	Sec. 143. Limitation on deduction for qualified residence interest.
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80	80	•HR 137 IH
81	81	Sec. 144. Modification of deduction for personal casualty losses.
82	82	Sec. 145. Termination of miscellaneous itemized deductions.
83	83	Sec. 146. Repeal of overall limitation on itemized deductions.
84	84	Sec. 147. Termination of exclusion for qualified bicycle commuting reimburse-
85	85	ment.
86	86	Sec. 148. Qualified moving expense reimbursement exclusion limited to mem-
87	87	bers of Armed Forces.
88	88	Sec. 149. Deduction for moving expenses limited to members of Armed Forces.
89	89	Sec. 150. Limitation on wagering losses.
90	90	Subtitle F—Increase in Estate and Gift Tax Exemption
91	91	Sec. 151. Increase in estate and gift tax exemption.
92	92	TITLE II—INCREASED EXEMPTION FOR ALTERNATIVE MINIMUM
93	93	TAX MADE PERMANENT
94	94	Sec. 201. Increased exemption for individuals.
95	95	TITLE I—INDIVIDUAL REFORM 1
96	96	MADE PERMANENT 2
97	97	Subtitle A—Rate Reform 3
98	98	SEC. 101. MODIFICATION OF RATES. 4
99	99	(a) M
100	100	ARRIEDINDIVIDUALSFILINGJOINTRETURNS 5
101	101	ANDSURVIVINGSPOUSES.—Section 1(a) is amended by 6
102	102	striking the table contained therein and inserting the fol-7
103	103	lowing: 8
104	104	‘‘If taxable income is: The tax is:
105	105	Not over $19,050 ...................................... 10% of taxable income.
106	106	Over $19,050 but not over $77,400 .......... $1,905, plus 12% of the excess over
107	107	$19,050.
108	108	Over $77,400 but not over $165,000 ........ $8,907, plus 22% of the excess over
109	109	$77,400.
110	110	Over $165,000 but not over $315,000 ...... $28,179, plus 24% of the excess
111	111	over $165,000.
112	112	Over $315,000 but not over $400,000 ...... $64,179, plus 32% of the excess
113	113	over $315,000.
114	114	Over $400,000 but not over $600,000 ...... $91,379, plus 35% of the excess
115	115	over $400,000.
116	116	Over $600,000 ........................................... $161,379, plus 37% of the excess
117	117	over $600,000.’’.
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120	120	•HR 137 IH
121	121	(b) HEADS OF HOUSEHOLDS.—Section 1(b) is 1
122	122	amended by striking the table contained therein and in-2
123	123	serting the following: 3
124	124	‘‘If taxable income is: The tax is:
125	125	Not over $13,600 ...................................... 10% of taxable income.
126	126	Over $13,600 but not over $51,800 .......... $1,360, plus 12% of the excess over
127	127	$13,600.
128	128	Over $51,800 but not over $82,500 .......... $5,944, plus 22% of the excess over
129	129	$51,800.
130	130	Over $82,500 but not over $157,500 ........ $12,698, plus 24% of the excess
131	131	over $82,500.
132	132	Over $157,500 but not over $200,000 ...... $30,698, plus 32% of the excess
133	133	over $157,500.
134	134	Over $200,000 but not over $500,000 ...... $44,298, plus 35% of the excess
135	135	over $200,000.
136	136	Over $500,000 ........................................... $149,298, plus 37% of the excess
137	137	over $500,000.’’.
138	138	(c) UNMARRIEDINDIVIDUALSOTHERTHANSUR-4
139	139	VIVINGSPOUSES ANDHEADS OFHOUSEHOLDS.—Section 5
140	140	1(c) is amended by striking the table contained therein 6
141	141	and inserting the following: 7
142	142	‘‘If taxable income is: The tax is:
143	143	Not over $9,525 ........................................ 10% of taxable income.
144	144	Over $9,525 but not over $38,700 ............ $952.50, plus 12% of the excess
145	145	over $9,525.
146	146	Over $38,700 but not over $82,500 .......... $4,453.50, plus 22% of the excess
147	147	over $38,700.
148	148	Over $82,500 but not over $157,500 ........ $14,089.50, plus 24% of the excess
149	149	over $82,500.
150	150	Over $157,500 but not over $200,000 ...... $32,089.50, plus 32% of the excess
151	151	over $157,500.
152	152	Over $200,000 but not over $500,000 ...... $45,689.50, plus 35% of the excess
153	153	over $200,000.
154	154	Over $500,000 ........................................... $150,689.50, plus 37% of the ex-
155	155	cess over $500,000.’’.
156	156	(d) MARRIEDINDIVIDUALSFILINGSEPARATERE-8
157	157	TURNS.—Section 1(d) is amended by striking the table 9
158	158	contained therein and inserting the following: 10
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161	161	•HR 137 IH
162	162	‘‘If taxable income is: The tax is:
163	163	Not over $9,525 ........................................ 10% of taxable income.
164	164	Over $9,525 but not over $38,700 ............ $952.50, plus 12% of the excess
165	165	over $9,525.
166	166	Over $38,700 but not over $82,500 .......... $4,453.50, plus 22% of the excess
167	167	over $38,700.
168	168	Over $82,500 but not over $157,500 ........ $14,089.50, plus 24% of the excess
169	169	over $82,500.
170	170	Over $157,500 but not over $200,000 ...... $32,089.50, plus 32% of the excess
171	171	over $157,500.
172	172	Over $200,000 but not over $300,000 ...... $45,689.50, plus 35% of the excess
173	173	over $200,000.
174	174	Over $300,000 ........................................... $80,689.50, plus 37% of the excess
175	175	over $300,000.’’.
176	176	(e) ESTATES ANDTRUSTS.—Section 1(e) is amended 1
177	177	by striking the table contained therein and inserting the 2
178	178	following: 3
179	179	‘‘If taxable income is: The tax is:
180	180	Not over $2,550 ........................................ 10% of taxable income.
181	181	Over $2,550 but not over $9,150 .............. $255, plus 24% of the excess over
182	182	$2,550.
183	183	Over $9,150 but not over $12,500 ............ $1,839, plus 35% of the excess over
184	184	$9,150.
185	185	Over $12,500 ............................................. $3,011.50, plus 37% of the excess
186	186	over $12,500.’’.
187	187	(f) INFLATIONADJUSTMENTS.—Section 1(f) is 4
188	188	amended— 5
189	189	(1) by amending paragraph (2)(A) to read as 6
190	190	follows: 7
191	191	‘‘(A) by increasing the minimum and max-8
192	192	imum dollar amounts for each bracket for 9
193	193	which a tax is imposed under such table by the 10
194	194	cost-of-living adjustment for such calendar year, 11
195	195	determined under this subsection for such cal-12
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198	198	•HR 137 IH
199	199	endar year by substituting ‘2017’ for ‘2016’ in 1
200	200	paragraph (3)(A)(ii),’’, 2
201	201	(2) by amending paragraph (7) to read as fol-3
202	202	lows: 4
203	203	‘‘(7) R
204	204	OUNDING.— 5
205	205	‘‘(A) I
206	206	N GENERAL.—Except as provided in 6
207	207	subparagraph (B), if any increase determined 7
208	208	under paragraph (2)(A) is not a multiple of 8
209	209	$25, such increase shall be rounded to the next 9
210	210	lowest multiple of $25. 10
211	211	‘‘(B) J
212	212	OINT RETURNS, ETC.—In the case 11
213	213	of a table prescribed under subsection (a), sub-12
214	214	paragraph (A) shall be applied by substituting 13
215	215	‘$50’ for ‘$25’ both places it appears.’’, 14
216	216	(3) by striking paragraph (8), and 15
217	217	(4) in the heading, by striking ‘‘P
218	218	HASEOUT OF 16
219	219	M
220	220	ARRIAGEPENALTY IN15-PERCENTBRACKET; AD-17
221	221	JUSTMENTS’’ and inserting ‘‘ADJUSTMENTS’’. 18
222	222	(g) A
223	223	PPLICATION OFINCOMETAXBRACKETS TO 19
224	224	C
225	225	APITALGAINSBRACKETS.—Section 1(h) is amended— 20
226	226	(1) in paragraph (1)(B)(i), by striking ‘‘25 per-21
227	227	cent’’ and inserting ‘‘22 percent’’, 22
228	228	(2) in paragraph (1)(C)(ii)(I), by striking 23
229	229	‘‘which would (without regard to this paragraph) be 24
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232	232	•HR 137 IH
233	233	taxed at a rate below 39.6 percent’’ and inserting 1
234	234	‘‘below the maximum 15-percent rate amount’’, and 2
235	235	(3) by adding at the end the following new 3
236	236	paragraphs: 4
237	237	‘‘(12) M
238	238	AXIMUM 15-PERCENT RATE AMOUNT 5
239	239	DEFINED.—For purposes of this subsection, the 6
240	240	maximum 15-percent rate amount shall be— 7
241	241	‘‘(A) in the case of a joint return or sur-8
242	242	viving spouse (as defined in section 2(a)), 9
243	243	$479,000 (
244	244	1
245	245	⁄2such amount in the case of a 10
246	246	married individual filing a separate return), 11
247	247	‘‘(B) in the case of an individual who is a 12
248	248	head of household (as defined in section 2(b)), 13
249	249	$452,400, 14
250	250	‘‘(C) in the case of any other individual 15
251	251	(other than an estate or trust), $425,800, and 16
252	252	‘‘(D) in the case of an estate or trust, 17
253	253	$12,700. 18
254	254	‘‘(13) D
255	255	ETERMINATION OF 0 PERCENT RATE 19
256	256	BRACKET FOR ESTATES AND TRUSTS .—In the case 20
257	257	of any estate or trust, paragraph (1)(B) shall be ap-21
258	258	plied by treating the amount determined in clause (i) 22
259	259	thereof as being equal to $2,600. 23
260	260	‘‘(14) I
261	261	NFLATION ADJUSTMENT .— 24
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264	264	•HR 137 IH
265	265	‘‘(A) IN GENERAL.—Each of the dollar 1
266	266	amounts in paragraphs (12) and (13) shall be 2
267	267	increased by an amount equal to— 3
268	268	‘‘(i) such dollar amount, multiplied by 4
269	269	‘‘(ii) the cost-of-living adjustment de-5
270	270	termined under subsection (f)(3) for the 6
271	271	calendar year in which the taxable year be-7
272	272	gins, determined by substituting ‘calendar 8
273	273	year 2017’ for ‘calendar year 2016’ in sub-9
274	274	paragraph (A)(ii) thereof. 10
275	275	‘‘(B) R
276	276	OUNDING.—If any increase under 11
277	277	subparagraph (A) is not a multiple of $50, such 12
278	278	increase shall be rounded to the next lowest 13
279	279	multiple of $50.’’. 14
280	280	(h) C
281	281	ONFORMINGAMENDMENTS.— 15
282	282	(1) Section 1 is amended by striking sub-16
283	283	sections (i) and (j). 17
284	284	(2) Section 3402(q)(1) is amended by striking 18
285	285	‘‘third lowest’’ and inserting ‘‘fourth lowest’’. 19
286	286	(i) A
287	287	PPLICATION OFSECTION15.— 20
288	288	(1) I
289	289	N GENERAL.—Subsection (a) of section 15 21
290	290	is amended by striking ‘‘If any rate of tax’’ and in-22
291	291	serting ‘‘In the case of a corporation, if any rate of 23
292	292	tax’’. 24
293	293	(2) C
294	294	ONFORMING AMENDMENTS .— 25
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297	297	•HR 137 IH
298	298	(A) Section 15 is amended by striking sub-1
299	299	sections (d) and (f). 2
300	300	(B) Section 6013(c) is amended by strik-3
301	301	ing ‘‘sections 15, 443, and 7851(a)(1)(A)’’ and 4
302	302	inserting ‘‘section 443’’. 5
303	303	(C) The heading of section 15 is amended 6
304	304	by inserting ‘‘
305	305	ON CORPORATIONS ’’ after ‘‘EF-7
306	306	FECT OF CHANGES ’’. 8
307	307	(D) The table of sections for part III of 9
308	308	subchapter A of chapter 1 is amended by strik-10
309	309	ing the item relating to section 15 and inserting 11
310	310	the following new item: 12
311	311	‘‘Sec. 15. Effect of changes on corporations.’’.
312	312	(j) EFFECTIVEDATE.— 13
313	313	(1) I
314	314	N GENERAL.—The amendments made by 14
315	315	this section shall apply to taxable years beginning 15
316	316	after the date of the enactment of this Act. 16
317	317	(2) A
318	318	PPLICATION OF SECTION 15 .—Section 15 17
319	319	of the Internal Revenue Code of 1986 shall not 18
320	320	apply to any change in a rate of tax by reason of— 19
321	321	(A) section 1(j) of such Code (as in effect 20
322	322	before its repeal by this section), or 21
323	323	(B) any amendment made by this Act. 22
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326	326	•HR 137 IH
327	327	Subtitle B—Deduction for Quali-1
328	328	fied Business Income of Pass- 2
329	329	Thru Entities 3
330	330	SEC. 111. DEDUCTION FOR QUALIFIED BUSINESS INCOME. 4
331	331	(a) I
332	332	NGENERAL.—Section 199A is amended by 5
333	333	striking subsection (i). 6
334	334	(b) E
335	335	FFECTIVEDATE.—The amendments made by 7
336	336	this section shall apply to taxable years beginning after 8
337	337	the date of the enactment of this Act. 9
338	338	SEC. 112. LIMITATION ON LOSSES FOR TAXPAYERS OTHER 10
339	339	THAN CORPORATIONS. 11
340	340	(a) I
341	341	NGENERAL.—Section 461 is amended— 12
342	342	(1) by amending subsection (l)(1) to read as 13
343	343	follows: 14
344	344	‘‘(1) L
345	345	IMITATION.—In the case of a taxpayer 15
346	346	other than a corporation, any excess business loss of 16
347	347	the taxpayer for the taxable year shall not be al-17
348	348	lowed.’’, and 18
349	349	(2) by striking subsection (j) and redesignating 19
350	350	subsections (k) and (l) (as amended) as subsections 20
351	351	(j) and (k), respectively. 21
352	352	(b) C
353	353	ONFORMINGAMENDMENTS.— 22
354	354	(1) Section 58(a)(2)(A) is amended by striking 23
355	355	‘‘461(k)’’ and inserting ‘‘461(j)’’. 24
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358	358	•HR 137 IH
359	359	(2) Section 461(i)(4) is amended by striking 1
360	360	‘‘subsection (k)’’ and inserting ‘‘subsection (j)’’. 2
361	361	(3) Section 464(d)(2)(B)(iii) is amended by 3
362	362	striking ‘‘section 461(k)(2)(E)’’ and inserting ‘‘sec-4
363	363	tion 461(j)(2)(E)’’. 5
364	364	(4) Subparagraphs (B) and (C) of section 6
365	365	1256(e)(3) are each amended by striking ‘‘section 7
366	366	461(k)(4)’’ and inserting ‘‘section 461(j)(4)’’. 8
367	367	(5) Section 1258(d)(5)(C) is amended by strik-9
368	368	ing ‘‘section 461(k)(4)’’ and inserting ‘‘section 10
369	369	461(j)(4)’’. 11
370	370	(c) E
371	371	FFECTIVEDATE.—The amendments made by 12
372	372	this section shall apply to taxable years beginning after 13
373	373	the date of the enactment of this Act. 14
374	374	Subtitle C—Tax Benefits for 15
375	375	Families and Individuals 16
376	376	SEC. 121. INCREASE IN STANDARD DEDUCTION. 17
377	377	(a) I
378	378	NGENERAL.—Section 63(c)(2) is amended— 18
379	379	(1) by striking ‘‘$4,400’’ in subparagraph (B) 19
380	380	and inserting ‘‘$18,000’’, and 20
381	381	(2) by striking ‘‘$3,000’’ in subparagraph (C) 21
382	382	and inserting ‘‘$12,000’’. 22
383	383	(b) I
384	384	NFLATIONADJUSTMENT.—Section 63(c)(4) is 23
385	385	amended to read as follows: 24
386	386	‘‘(4) A
387	387	DJUSTMENTS FOR INFLATION .— 25
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390	390	•HR 137 IH
391	391	‘‘(A) IN GENERAL.—Each dollar amount in 1
392	392	paragraph (2)(B), (2)(C), or (5) or subsection 2
393	393	(f) shall be increased by an amount equal to— 3
394	394	‘‘(i) such dollar amount, multiplied by 4
395	395	‘‘(ii) the cost-of-living adjustment de-5
396	396	termined under section 1(f)(3) for the cal-6
397	397	endar year in which the taxable year be-7
398	398	gins, determined by substituting for ‘2016’ 8
399	399	in subparagraph (A)(ii) thereof— 9
400	400	‘‘(I) in the case of the dollar 10
401	401	amounts contained in paragraph 11
402	402	(2)(B) or (2)(C), ‘2017’, 12
403	403	‘‘(II) in the case of the dollar 13
404	404	amounts contained in paragraph 14
405	405	(5)(A) or subsection (f), ‘1987’, and 15
406	406	‘‘(III) in the case of the dollar 16
407	407	amount contained in paragraph 17
408	408	(5)(B), ‘1997’. 18
409	409	‘‘(B) R
410	410	OUNDING.—If any increase under 19
411	411	subparagraph (A) is not a multiple of $50, such 20
412	412	increase shall be rounded to the next lowest 21
413	413	multiple of $50.’’. 22
414	414	(c) C
415	415	ONFORMING AMENDMENT.—Section 63(c) is 23
416	416	amended by striking paragraph (7). 24
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419	419	•HR 137 IH
420	420	(d) EFFECTIVEDATE.—The amendments made by 1
421	421	this section shall apply to taxable years beginning after 2
422	422	the date of the enactment of this Act. 3
423	423	SEC. 122. INCREASE IN AND MODIFICATION OF CHILD TAX 4
424	424	CREDIT. 5
425	425	(a) I
426	426	NGENERAL.—Section 24 is amended by striking 6
427	427	subsections (a), (b), and (c) and inserting the following 7
428	428	new subsections: 8
429	429	‘‘(a) A
430	430	LLOWANCE OF CREDIT.—There shall be al-9
431	431	lowed as a credit against the tax imposed by this chapter 10
432	432	for the taxable year an amount equal to the sum of— 11
433	433	‘‘(1) $2,000 for each qualifying child of the tax-12
434	434	payer, and 13
435	435	‘‘(2) $500 for each qualifying dependent (other 14
436	436	than a qualifying child) of the taxpayer. 15
437	437	‘‘(b) L
438	438	IMITATIONBASED ONADJUSTEDGROSSIN-16
439	439	COME.—The amount of the credit allowable under sub-17
440	440	section (a) shall be reduced (but not below zero) by $50 18
441	441	for each $1,000 (or fraction thereof) by which the tax-19
442	442	payer’s modified adjusted gross income exceeds $400,000 20
443	443	in the case of a joint return ($200,000 in any other case). 21
444	444	For purposes of the preceding sentence, the term ‘‘modi-22
445	445	fied adjusted gross income’’ means adjusted gross income 23
446	446	increased by any amount excluded from gross income 24
447	447	under section 911, 931, or 933. 25
448	448	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00013 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
449	449	kjohnson on DSK7ZCZBW3PROD with $$_JOB 14
450	450	•HR 137 IH
451	451	‘‘(c) QUALIFYINGCHILD; QUALIFYINGDEPEND-1
452	452	ENT.—For purposes of this section— 2
453	453	‘‘(1) Q
454	454	UALIFYING CHILD.—The term ‘qualifying 3
455	455	child’ means any qualifying dependent of the tax-4
456	456	payer— 5
457	457	‘‘(A) who is a qualifying child (as defined 6
458	458	in section 7706(c)) of the taxpayer, 7
459	459	‘‘(B) who has not attained age 17 at the 8
460	460	close of the calendar year in which the taxable 9
461	461	year of the taxpayer begins, and 10
462	462	‘‘(C) whose name and social security num-11
463	463	ber are included on the taxpayer’s return of tax 12
464	464	for the taxable year. 13
465	465	‘‘(2) Q
466	466	UALIFYING DEPENDENT .—The term 14
467	467	‘qualifying dependent’ means any dependent of the 15
468	468	taxpayer (as defined in section 7706 without regard 16
469	469	to all that follows ‘resident of the United States’ in 17
470	470	section 7706(b)(3)(A)) whose name and TIN are in-18
471	471	cluded on the taxpayer’s return of tax for the tax-19
472	472	able year. 20
473	473	‘‘(3) S
474	474	OCIAL SECURITY NUMBER DEFINED .— 21
475	475	For purposes of this subsection, the term ‘social se-22
476	476	curity number’ means, with respect to a return of 23
477	477	tax, a social security number issued to an individual 24
478	478	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00014 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
479	479	kjohnson on DSK7ZCZBW3PROD with $$_JOB 15
480	480	•HR 137 IH
481	481	by the Social Security Administration, but only if 1
482	482	the social security number is issued— 2
483	483	‘‘(A) to a citizen of the United States or 3
484	484	pursuant to subclause (I) (or that portion of 4
485	485	subclause (III) that relates to subclause (I)) of 5
486	486	section 205(c)(2)(B)(i) of the Social Security 6
487	487	Act, and 7
488	488	‘‘(B) on or before the due date of filing 8
489	489	such return.’’. 9
490	490	(b) P
491	491	ORTION OFCREDITREFUNDABLE.— 10
492	492	(1) I
493	493	N GENERAL.—Section 24(d)(1)(A) is 11
494	494	amended to read as follows: 12
495	495	‘‘(A) the credit which would be allowed 13
496	496	under this section determined— 14
497	497	‘‘(i) by substituting ‘$1,400’ for 15
498	498	‘$2,000’ in subsection (a)(1), 16
499	499	‘‘(ii) without regard to subsection 17
500	500	(a)(2), and 18
501	501	‘‘(iii) without regard to this subsection 19
502	502	(other than this subparagraph) and the 20
503	503	limitation under section 26(a), or’’. 21
504	504	(2) M
505	505	ODIFICATION OF LIMITATION BASED ON 22
506	506	EARNED INCOME.—Section 24(d)(1)(B)(i) is amend-23
507	507	ed by striking ‘‘$3,000’’ and inserting ‘‘$2,500’’. 24
508	508	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00015 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
509	509	kjohnson on DSK7ZCZBW3PROD with $$_JOB 16
510	510	•HR 137 IH
511	511	(3) INFLATION ADJUSTMENT .—Section 24(d) is 1
512	512	amended by inserting after paragraph (3) the fol-2
513	513	lowing new paragraph: 3
514	514	‘‘(4) A
515	515	DJUSTMENT FOR INFLATION .— 4
516	516	‘‘(A) I
517	517	N GENERAL.—The $1,400 amount in 5
518	518	paragraph (1)(A)(i) shall be increased by an 6
519	519	amount equal to— 7
520	520	‘‘(i) such dollar amount, multiplied by 8
521	521	‘‘(ii) the cost-of-living adjustment de-9
522	522	termined under section 1(f)(3) for the cal-10
523	523	endar year in which the taxable year be-11
524	524	gins, determined by substituting ‘2017’ for 12
525	525	‘2016’ in subparagraph (A)(ii) thereof. 13
526	526	‘‘(B) R
527	527	OUNDING.—If any increase under 14
528	528	subparagraph (A) is not a multiple of $100, 15
529	529	such increase shall be rounded to the next low-16
530	530	est multiple of $100. 17
531	531	‘‘(C) L
532	532	IMITATION.—The amount of any in-18
533	533	crease under subparagraph (A) (after the appli-19
534	534	cation of subparagraph (B)) shall not exceed 20
535	535	$600.’’. 21
536	536	(4) C
537	537	ONFORMING AMENDMENTS .— 22
538	538	(A) Section 24(e) is amended to read as 23
539	539	follows: 24
540	540	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00016 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
541	541	kjohnson on DSK7ZCZBW3PROD with $$_JOB 17
542	542	•HR 137 IH
543	543	‘‘(e) TAXPAYERIDENTIFICATIONREQUIREMENT.— 1
544	544	No credit shall be allowed under this section if the identi-2
545	545	fying number of the taxpayer was issued after the due date 3
546	546	for filing the return of tax for the taxable year.’’. 4
547	547	(B) Section 24 is amended by striking sub-5
548	548	section (h). 6
549	549	(c) R
550	550	EPEAL OFCERTAINLATERENACTEDPROVI-7
551	551	SIONS.— 8
552	552	(1) Section 24 is amended by striking sub-9
553	553	sections (i), (j), and (k). 10
554	554	(2) Chapter 77 is amended by striking section 11
555	555	7527A (and by striking the item relating to section 12
556	556	7527A in the table of sections for such chapter). 13
557	557	(3) Section 26(b)(2) is amended by inserting 14
558	558	‘‘and’’ at the end of subparagraph (X), by striking 15
559	559	‘‘, and’’ at the end of subparagraph (Y) and insert-16
560	560	ing a period, and by striking subparagraph (Z). 17
561	561	(4) Section 3402(f)(1)(C) is amended by strik-18
562	562	ing ‘‘section 24 (determined after application of sub-19
563	563	section (j) thereof)’’ and inserting ‘‘section 24(a)’’. 20
564	564	(5) Section 6211(b)(4)(A) is amended— 21
565	565	(A) by striking ‘‘24 by reason of sub-22
566	566	sections (d) and (i)(1) thereof’’ and inserting 23
567	567	‘‘24(d)’’, and 24
568	568	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00017 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
569	569	kjohnson on DSK7ZCZBW3PROD with $$_JOB 18
570	570	•HR 137 IH
571	571	(B) by striking ‘‘6428B, and 7527A’’ and 1
572	572	inserting ‘‘and 6428B’’. 2
573	573	(6) Paragraph (2) of section 1324(b) of title 3
574	574	31, United States Code, is amended by striking 4
575	575	‘‘6431, or 7527A’’ and inserting ‘‘or 6431’’. 5
576	576	(d) E
577	577	FFECTIVEDATE.—The amendments made by 6
578	578	this section shall apply to taxable years beginning after 7
579	579	the date of the enactment of this Act. 8
580	580	SEC. 123. INCREASED LIMITATION FOR CERTAIN CHARI-9
581	581	TABLE CONTRIBUTIONS. 10
582	582	(a) I
583	583	NGENERAL.—Section 170(b)(1)(G) is amended 11
584	584	to read as follows: 12
585	585	‘‘(G) C
586	586	ASH CONTRIBUTIONS.— 13
587	587	‘‘(i) I
588	588	N GENERAL.—Any contribution 14
589	589	of cash to an organization described in 15
590	590	subparagraph (A) shall be allowed to the 16
591	591	extent that the aggregate of such contribu-17
592	592	tions does not exceed 60 percent of the 18
593	593	taxpayer’s contribution base for the taxable 19
594	594	year, reduced by the aggregate amount of 20
595	595	contributions allowable under subpara-21
596	596	graph (A) for such taxpayer for such year. 22
597	597	‘‘(ii) C
598	598	ARRYOVER.—If the aggregate 23
599	599	amount of contributions described in clause 24
600	600	(i) exceeds the limitation of clause (i), such 25
601	601	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00018 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
602	602	kjohnson on DSK7ZCZBW3PROD with $$_JOB 19
603	603	•HR 137 IH
604	604	excess shall be treated (in a manner con-1
605	605	sistent with the rules of subsection (d)(1)) 2
606	606	as a charitable contribution to which clause 3
607	607	(i) applies in each of the 5 succeeding 4
608	608	years in order of time.’’. 5
609	609	(b) C
610	610	OORDINATIONWITHLIMITATIONS ONOTHER 6
611	611	C
612	612	ONTRIBUTIONS.— 7
613	613	(1) C
614	614	OORDINATION WITH 50 PERCENT LIMITA -8
615	615	TION.—Section 170(b)(1)(A) is amended by striking 9
616	616	‘‘Any charitable contribution’’ and inserting ‘‘Any 10
617	617	charitable contribution other than a contribution de-11
618	618	scribed in subparagraph (G)’’. 12
619	619	(2) C
620	620	OORDINATION WITH 30 PERCENT LIMITA -13
621	621	TION.—Section 170(b)(1)(B) is amended— 14
622	622	(A) in the matter preceding clause (i), by 15
623	623	striking ‘‘to which subparagraph (A) applies’’ 16
624	624	and inserting ‘‘to which subparagraph (A) or 17
625	625	(G) applies’’, 18
626	626	(B) by amending clause (ii) to read as fol-19
627	627	lows: 20
628	628	‘‘(ii) the excess of— 21
629	629	‘‘(I) the sum of 50 percent of the 22
630	630	taxpayer’s contribution base for the 23
631	631	taxable year, plus so much of the 24
632	632	amount of charitable contributions al-25
633	633	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00019 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
634	634	kjohnson on DSK7ZCZBW3PROD with $$_JOB 20
635	635	•HR 137 IH
636	636	lowable under subparagraph (G) as 1
637	637	does not exceed 10 percent of such 2
638	638	contribution base, over 3
639	639	‘‘(II) the amount of charitable 4
640	640	contributions allowable under sub-5
641	641	paragraphs (A) and (G) (determined 6
642	642	without regard to subparagraph 7
643	643	(C)).’’, and 8
644	644	(C) in the matter following clause (ii), by 9
645	645	striking ‘‘(to which subparagraph (A) does not 10
646	646	apply)’’ and inserting ‘‘(to which neither sub-11
647	647	paragraph (A) nor (G) applies)’’. 12
648	648	(c) E
649	649	FFECTIVEDATE.—The amendments made by 13
650	650	this section shall apply to contributions made in taxable 14
651	651	years beginning after the date of the enactment of this 15
652	652	Act. 16
653	653	SEC. 124. INCREASED CONTRIBUTIONS TO ABLE AC-17
654	654	COUNTS. 18
655	655	(a) I
656	656	NCREASE INLIMITATION FORCONTRIBUTIONS 19
657	657	F
658	658	ROMCOMPENSATION OF INDIVIDUALSWITHDISABIL-20
659	659	ITIES.—Section 529A(b)(2)(B)(ii) is amended by striking 21
660	660	‘‘before January 1, 2026’’. 22
661	661	(b) A
662	662	LLOWANCE OF SAVER’SCREDIT FORABLE 23
663	663	C
664	664	ONTRIBUTIONS BY ACCOUNT HOLDER.—Section 24
665	665	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00020 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
666	666	kjohnson on DSK7ZCZBW3PROD with $$_JOB 21
667	667	•HR 137 IH
668	668	25B(d)(1)(D) is amended by striking ‘‘made before Janu-1
669	669	ary 1, 2026,’’. 2
670	670	(c) E
671	671	FFECTIVEDATE.—The amendments made by 3
672	672	this section shall apply to taxable years beginning after 4
673	673	the date of the enactment of this Act. 5
674	674	SEC. 125. ROLLOVERS TO ABLE PROGRAMS FROM 529 PRO-6
675	675	GRAMS. 7
676	676	(a) I
677	677	NGENERAL.—Section 529(c)(3)(C)(i)(III) is 8
678	678	amended by striking ‘‘before January 1, 2026,’’. 9
679	679	(b) E
680	680	FFECTIVEDATE.—The amendments made by 10
681	681	this section shall apply to distributions after the date of 11
682	682	the enactment of this Act. 12
683	683	SEC. 126. TREATMENT OF CERTAIN INDIVIDUALS PER-13
684	684	FORMING SERVICES IN THE SINAI PENIN-14
685	685	SULA OF EGYPT. 15
686	686	(a) I
687	687	NGENERAL.—Section 112(c)(2) is amended— 16
688	688	(1) by striking ‘‘means any area’’ and inserting 17
689	689	‘‘means— 18
690	690	‘‘(A) any area’’, and 19
691	691	(2) by striking the period at the end and insert-20
692	692	ing ‘‘, and 21
693	693	‘‘(B) the Sinai Peninsula of Egypt.’’. 22
694	694	(b) P
695	695	ERIOD OFTREATMENT.—Section 112(c)(3) is 23
696	696	amended— 24
697	697	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00021 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
698	698	kjohnson on DSK7ZCZBW3PROD with $$_JOB 22
699	699	•HR 137 IH
700	700	(1) by striking ‘‘only if performed’’ and insert-1
701	701	ing ‘‘only if— 2
702	702	‘‘(A) in the case of an area described in 3
703	703	paragraph (2)(A), such service is performed’’, 4
704	704	and 5
705	705	(2) by striking the period at the end and insert-6
706	706	ing ‘‘, and 7
707	707	‘‘(B) in the case of the area described in 8
708	708	paragraph (2)(B), such service is performed 9
709	709	during any period with respect to which one or 10
710	710	more members of the Armed Forces of the 11
711	711	United States are entitled to special pay under 12
712	712	section 310 of title 37, United States Code (re-13
713	713	lating to special pay; duty subject to hostile fire 14
714	714	or imminent danger), for service performed in 15
715	715	such area.’’. 16
716	716	(c) C
717	717	ONFORMINGAMENDMENT.—The Tax Cuts and 17
718	718	Jobs Act is amended by striking section 11026. 18
719	719	(d) E
720	720	FFECTIVEDATE.—The amendments made by 19
721	721	this section shall apply with respect to services performed 20
722	722	on or after the date of the enactment of this Act. 21
723	723	Subtitle D—Education 22
724	724	SEC. 131. TREATMENT OF STUDENT LOAN DISCHARGES. 23
725	725	(a) S
726	726	UNSET OFSPECIALRULE FORDISCHARGES OF 24
727	727	C
728	728	ERTAINLOANS.—Section 108(f)(5) is amended— 25
729	729	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00022 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
730	730	kjohnson on DSK7ZCZBW3PROD with $$_JOB 23
731	731	•HR 137 IH
732	732	(1) in the heading, by striking ‘‘2025’’ and in-1
733	733	serting ‘‘
734	734	2024’’, and 2
735	735	(2) by striking ‘‘January 1, 2026’’ and insert-3
736	736	ing ‘‘January 1, 2025’’. 4
737	737	(b) R
738	738	EINSTATEMENT OF RULE FORDISCHARGES ON 5
739	739	A
740	740	CCOUNT OFDEATH ORDISABILITYAFTER2024.—Sec-6
741	741	tion 108(f) is amended by adding at the end the following 7
742	742	new paragraph: 8
743	743	‘‘(6) D
744	744	ISCHARGES ON ACCOUNT OF DEATH OR 9
745	745	DISABILITY AFTER 2024.— 10
746	746	‘‘(A) I
747	747	N GENERAL.—In the case of an indi-11
748	748	vidual, gross income does not include any 12
749	749	amount which (but for this subsection) would 13
750	750	be includible in gross income for such taxable 14
751	751	year by reasons of the discharge (in whole or in 15
752	752	part) of any loan described in subparagraph 16
753	753	(B) after December 31, 2024, if such discharge 17
754	754	was— 18
755	755	‘‘(i) pursuant to subsection (a) or (d) 19
756	756	of section 437 of the Higher Education 20
757	757	Act of 1965 or the parallel benefit under 21
758	758	part D of title IV of such Act (relating to 22
759	759	the repayment of loan liability), 23
760	760	‘‘(ii) pursuant to section 464(c)(1)(F) 24
761	761	of such Act, or 25
762	762	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00023 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
763	763	kjohnson on DSK7ZCZBW3PROD with $$_JOB 24
764	764	•HR 137 IH
765	765	‘‘(iii) otherwise discharged on account 1
766	766	of the death or total and permanent dis-2
767	767	ability of the student. 3
768	768	‘‘(B) L
769	769	OANS DESCRIBED.—A loan is de-4
770	770	scribed in this subparagraph if such loan is— 5
771	771	‘‘(i) a student loan (as defined in 6
772	772	paragraph (2)), or 7
773	773	‘‘(ii) a private education loan (as de-8
774	774	fined in section 140(7) of the Consumer 9
775	775	Credit Protection Act (15 U.S.C. 10
776	776	1650(7))).’’. 11
777	777	(c) E
778	778	FFECTIVEDATE.—The amendments made by 12
779	779	this section shall apply to discharges of indebtedness after 13
780	780	December 31, 2024. 14
781	781	SEC. 132. 529 ACCOUNT FUNDING FOR HOMESCHOOL AND 15
782	782	ADDITIONAL ELEMENTARY AND SECONDARY 16
783	783	EXPENSES. 17
784	784	(a) I
785	785	NGENERAL.—Section 529(c)(7) of the Internal 18
786	786	Revenue Code of 1986 is amended to read as follows: 19
787	787	‘‘(7) T
788	788	REATMENT OF ELEMENTARY AND SEC -20
789	789	ONDARY TUITION.—Any reference in this section to 21
790	790	the term ‘qualified higher education expense’ shall 22
791	791	include a reference to the following expenses in con-23
792	792	nection with enrollment or attendance at, or for stu-24
793	793	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00024 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
794	794	kjohnson on DSK7ZCZBW3PROD with $$_JOB 25
795	795	•HR 137 IH
796	796	dents enrolled at or attending, an elementary or sec-1
797	797	ondary public, private, or religious school: 2
798	798	‘‘(A) Tuition. 3
799	799	‘‘(B) Curriculum and curricular materials. 4
800	800	‘‘(C) Books or other instructional mate-5
801	801	rials. 6
802	802	‘‘(D) Online educational materials. 7
803	803	‘‘(E) Tuition for tutoring or educational 8
804	804	classes outside of the home, including at a tu-9
805	805	toring facility, but only if the tutor or instruc-10
806	806	tor is not related to the student and— 11
807	807	‘‘(i) is licensed as a teacher in any 12
808	808	State, 13
809	809	‘‘(ii) has taught at an eligible edu-14
810	810	cational institution, or 15
811	811	‘‘(iii) is a subject matter expert in the 16
812	812	relevant subject. 17
813	813	‘‘(F) Fees for a nationally standardized 18
814	814	norm-referenced achievement test, an advanced 19
815	815	placement examination, or any examinations re-20
816	816	lated to college or university admission. 21
817	817	‘‘(G) Fees for dual enrollment in an insti-22
818	818	tution of higher education. 23
819	819	‘‘(H) Educational therapies for students 24
820	820	with disabilities provided by a licensed or ac-25
821	821	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00025 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
822	822	kjohnson on DSK7ZCZBW3PROD with $$_JOB 26
823	823	•HR 137 IH
824	824	credited practitioner or provider, including oc-1
825	825	cupational, behavioral, physical, and speech-lan-2
826	826	guage therapies. 3
827	827	Such term shall include expenses for the purposes 4
828	828	described in subparagraphs (A) through (H) in con-5
829	829	nection with a homeschool (whether treated as a 6
830	830	homeschool or a private school for purposes of appli-7
831	831	cable State law).’’. 8
832	832	(b) E
833	833	FFECTIVEDATE.—The amendment made by 9
834	834	this section shall apply to distributions made after the 10
835	835	date of the enactment of this Act. 11
836	836	Subtitle E—Deductions and 12
837	837	Exclusions 13
838	838	SEC. 141. REPEAL OF DEDUCTION FOR PERSONAL EXEMP-14
839	839	TIONS. 15
840	840	(a) I
841	841	NGENERAL.—Part V of subchapter B of chapter 16
842	842	1 is hereby repealed. 17
843	843	(b) D
844	844	EFINITION OFDEPENDENTRETAINED.—Sec-18
845	845	tion 152, prior to the repeal made by subsection (a), is 19
846	846	hereby redesignated as section 7706 and moved to the end 20
847	847	of chapter 79. 21
848	848	(c) A
849	849	PPLICATION TOTRUSTS ANDESTATES.—Sec-22
850	850	tion 642(b) is amended— 23
851	851	(1) in paragraph (2)(C)— 24
852	852	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00026 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
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854	854	•HR 137 IH
855	855	(A) in clause (i), by striking ‘‘the exemp-1
856	856	tion amount under section 151(d)’’ and all that 2
857	857	follows through the period at the end and in-3
858	858	serting ‘‘the dollar amount in effect under sec-4
859	859	tion 7706(d)(1)(B).’’, and 5
860	860	(B) by striking clause (iii), 6
861	861	(2) by striking paragraph (3), and 7
862	862	(3) by striking ‘‘D
863	863	EDUCTIONFORPERSONAL 8
864	864	E
865	865	XEMPTION’’ in the heading thereof and inserting 9
866	866	‘‘B
867	867	ASICDEDUCTION’’. 10
868	868	(d) A
869	869	PPLICATION TONONRESIDENTALIENS.—Sec-11
870	870	tion 873(b) is amended by striking paragraph (3). 12
871	871	(e) M
872	872	ODIFICATION OFRETURNREQUIREMENT.— 13
873	873	(1) I
874	874	N GENERAL.—Section 6012(a)(1) is 14
875	875	amended to read as follows: 15
876	876	‘‘(1) Every individual who has gross income for 16
877	877	the taxable year, except that a return shall not be 17
878	878	required of— 18
879	879	‘‘(A) an individual who is not married (de-19
880	880	termined by applying section 7703) and who 20
881	881	has gross income for the taxable year which 21
882	882	does not exceed the standard deduction applica-22
883	883	ble to such individual for such taxable year 23
884	884	under section 63, or 24
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886	886	kjohnson on DSK7ZCZBW3PROD with $$_JOB 28
887	887	•HR 137 IH
888	888	‘‘(B) an individual entitled to make a joint 1
889	889	return if— 2
890	890	‘‘(i) the gross income of such indi-3
891	891	vidual, when combined with the gross in-4
892	892	come of such individual’s spouse, for the 5
893	893	taxable year does not exceed the standard 6
894	894	deduction which would be applicable for 7
895	895	such taxable year under section 63 if such 8
896	896	individual and such individual’s spouse 9
897	897	made a joint return, 10
898	898	‘‘(ii) such individual’s spouse does not 11
899	899	make a separate return, and 12
900	900	‘‘(iii) neither such individual nor such 13
901	901	individual’s spouse is an individual de-14
902	902	scribed in section 63(c)(4) who has income 15
903	903	(other than earned income) in excess of the 16
904	904	amount in effect under section 17
905	905	63(c)(4)(A).’’. 18
906	906	(2) B
907	907	ANKRUPTCY ESTATES .—Section 19
908	908	6012(a)(8) is amended by striking ‘‘the sum of the 20
909	909	exemption amount plus the basic standard deduction 21
910	910	under section 63(c)(2)(C)’’ and inserting ‘‘the stand-22
911	911	ard deduction in effect under section 63(c)(1)(B)’’. 23
912	912	(3) C
913	913	ONFORMING AMENDMENT .—Section 6012 24
914	914	is amended by striking subsection (f). 25
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917	917	•HR 137 IH
918	918	(f) CONFORMINGAMENDMENTS.— 1
919	919	(1) Section 1(g)(5)(A) is amended by striking 2
920	920	‘‘section 152(e)’’ and inserting ‘‘section 7706(e)’’. 3
921	921	(2) Section 2(a)(1)(B) is amended— 4
922	922	(A) by striking ‘‘section 152’’ and insert-5
923	923	ing ‘‘section 7706’’, and 6
924	924	(B) by striking ‘‘with respect to whom the 7
925	925	taxpayer is entitled to a deduction for the tax-8
926	926	able year under section 151’’ and inserting 9
927	927	‘‘whose TIN is included on the taxpayer’s re-10
928	928	turn of tax for the taxable year’’. 11
929	929	(3) Section 2(b)(1)(A)(i) is amended— 12
930	930	(A) in the matter preceding subclause 13
931	931	(I)— 14
932	932	(i) by striking ‘‘section 152(c)’’ and 15
933	933	inserting ‘‘section 7706(c)’’, and 16
934	934	(ii) by striking ‘‘section 152(e)’’ and 17
935	935	inserting ‘‘section 7706(e)’’, and 18
936	936	(B) in subclause (II), by striking ‘‘section 19
937	937	152(b)(2) or 152(b)(3)’’ and inserting ‘‘section 20
938	938	7706(b)(2) or 7706(b)(3)’’. 21
939	939	(4) Section 2(b)(1)(A)(ii) is amended by strik-22
940	940	ing ‘‘if the taxpayer is entitled to a deduction for the 23
941	941	taxable year for such person under section 151’’ and 24
942	942	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00029 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
943	943	kjohnson on DSK7ZCZBW3PROD with $$_JOB 30
944	944	•HR 137 IH
945	945	inserting ‘‘if the taxpayer included such person’s 1
946	946	TIN on the return of tax for the taxable year’’. 2
947	947	(5) Section 2(b)(1)(B) is amended by striking 3
948	948	‘‘if the taxpayer is entitled to a deduction for the 4
949	949	taxable year for such father or mother under section 5
950	950	151’’ and inserting ‘‘if such father or mother is a 6
951	951	dependent of the taxpayer and the taxpayer included 7
952	952	such father or mother’s TIN on the return of tax for 8
953	953	the taxable year’’. 9
954	954	(6) Section 2(b)(3)(B) is amended— 10
955	955	(A) by striking ‘‘section 152(d)(2)’’ in 11
956	956	clause (i) and inserting ‘‘section 7706(d)(2)’’, 12
957	957	and 13
958	958	(B) by striking ‘‘section 152(d)’’ in clause 14
959	959	(ii) and inserting ‘‘section 7706(d)’’. 15
960	960	(7) Section 21(b)(1)(A) is amended by striking 16
961	961	‘‘section 152(a)(1)’’ and inserting ‘‘section 17
962	962	7706(a)(1)’’. 18
963	963	(8) Section 21(b)(1)(B) is amended by striking 19
964	964	‘‘section 152’’ and inserting ‘‘section 7706’’. 20
965	965	(9) Section 21(e)(5)(A) is amended by striking 21
966	966	‘‘section 152(e)’’ and inserting ‘‘section 7706(e)’’. 22
967	967	(10) Section 21(e)(5) is amended by striking 23
968	968	‘‘section 152(e)(4)(A)’’ in the matter following sub-24
969	969	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00030 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
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971	971	•HR 137 IH
972	972	paragraph (B) and inserting ‘‘section 1
973	973	7706(e)(4)(A)’’. 2
974	974	(11) Section 21(e)(6)(A) is amended to read as 3
975	975	follows: 4
976	976	‘‘(A) who is a dependent of either the tax-5
977	977	payer or the taxpayer’s spouse for the taxable 6
978	978	year, or’’. 7
979	979	(12) Section 21(e)(6)(B) is amended by striking 8
980	980	‘‘section 152(f)(1)’’ and inserting ‘‘section 9
981	981	7706(f)(1)’’. 10
982	982	(13) Section 25A(f)(1)(A)(iii) is amended by 11
983	983	striking ‘‘with respect to whom the taxpayer is al-12
984	984	lowed a deduction under section 151’’. 13
985	985	(14) Section 25A(g)(3) is amended by striking 14
986	986	‘‘If a deduction under section 151 with respect to an 15
987	987	individual is allowed to another taxpayer’’ and in-16
988	988	serting ‘‘If an individual is a dependent of another 17
989	989	taxpayer’’. 18
990	990	(15) Section 25B(c)(2)(A) is amended by strik-19
991	991	ing ‘‘any individual with respect to whom a deduc-20
992	992	tion under section 151 is allowed to another tax-21
993	993	payer’’ and inserting ‘‘any individual who is a de-22
994	994	pendent of another taxpayer’’. 23
995	995	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00031 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
996	996	kjohnson on DSK7ZCZBW3PROD with $$_JOB 32
997	997	•HR 137 IH
998	998	(16) Section 25B(c)(2)(B) is amended by strik-1
999	999	ing ‘‘section 152(f)(2)’’ and inserting ‘‘section 2
1000	1000	7706(f)(2)’’. 3
1001	1001	(17) Section 32(c)(1)(A)(ii)(III) is amended by 4
1002	1002	striking ‘‘a dependent for whom a deduction is al-5
1003	1003	lowable under section 151 to another taxpayer’’ and 6
1004	1004	inserting ‘‘a dependent of another taxpayer’’. 7
1005	1005	(18) Section 32(c)(3) is amended— 8
1006	1006	(A) in subparagraph (A)— 9
1007	1007	(i) by striking ‘‘section 152(c)’’ and 10
1008	1008	inserting ‘‘section 7706(c)’’, and 11
1009	1009	(ii) by striking ‘‘section 152(e)’’ and 12
1010	1010	inserting ‘‘section 7706(e)’’, 13
1011	1011	(B) in subparagraph (B), by striking ‘‘un-14
1012	1012	less the taxpayer is entitled to a deduction 15
1013	1013	under section 151 for such taxable year with re-16
1014	1014	spect to such individual (or would be so entitled 17
1015	1015	but for section 152(e)’’ and inserting ‘‘if such 18
1016	1016	individual is not treated as a dependent of such 19
1017	1017	taxpayer for such taxable year by reason of sec-20
1018	1018	tion 7706(b)(2) (determined without regard to 21
1019	1019	section 7706(e))’’, and 22
1020	1020	(C) in subparagraph (C), by striking ‘‘sec-23
1021	1021	tion 152(c)(1)(B)’’ and inserting ‘‘section 24
1022	1022	7706(c)(1)(B)’’. 25
1023	1023	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00032 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
1024	1024	kjohnson on DSK7ZCZBW3PROD with $$_JOB 33
1025	1025	•HR 137 IH
1026	1026	(19) Section 35(d)(1)(B) is amended by strik-1
1027	1027	ing ‘‘with respect to whom the taxpayer is entitled 2
1028	1028	to a deduction under section 151(c)’’ and inserting 3
1029	1029	‘‘if the taxpayer included such person’s TIN on the 4
1030	1030	return of tax for the taxable year’’. 5
1031	1031	(20) Section 35(d)(2) is amended— 6
1032	1032	(A) by striking ‘‘section 152(e)’’ and in-7
1033	1033	serting ‘‘section 7706(e)’’, and 8
1034	1034	(B) by striking ‘‘section 152(e)(4)(A)’’ and 9
1035	1035	inserting ‘‘section 7706(e)(4)(A)’’. 10
1036	1036	(21) Section 36B(b)(2)(A) is amended by strik-11
1037	1037	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 12
1038	1038	(22) Section 36B(b)(3)(B) is amended— 13
1039	1039	(A) in clause (ii)(I)(aa), by striking ‘‘who 14
1040	1040	is not allowed a deduction under section 151 for 15
1041	1041	the taxable year with respect to a dependent’’ 16
1042	1042	and inserting ‘‘who does not have any depend-17
1043	1043	ents for the taxable year’’, and 18
1044	1044	(B) in the flush matter at the end, by 19
1045	1045	striking ‘‘unless a deduction is allowed under 20
1046	1046	section 151 for the taxable year with respect to 21
1047	1047	a dependent’’ and inserting ‘‘unless the tax-22
1048	1048	payer has a dependent for the taxable year (and 23
1049	1049	the taxpayer included such dependent’s TIN on 24
1050	1050	the return of tax for the taxable year)’’. 25
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1052	1052	kjohnson on DSK7ZCZBW3PROD with $$_JOB 34
1053	1053	•HR 137 IH
1054	1054	(23) Section 36B(c)(1)(D) is amended by strik-1
1055	1055	ing ‘‘with respect to whom a deduction under section 2
1056	1056	151 is allowable to another taxpayer’’ and inserting 3
1057	1057	‘‘who is a dependent of another taxpayer’’. 4
1058	1058	(24) Section 36B(d)(1) is amended by striking 5
1059	1059	‘‘equal to the number of individuals for whom the 6
1060	1060	taxpayer is allowed a deduction under section 151 7
1061	1061	(relating to allowance of deduction for personal ex-8
1062	1062	emptions) for the taxable year’’ and inserting ‘‘the 9
1063	1063	sum of 1 (2 in the case of a joint return) plus the 10
1064	1064	number of individuals who are dependents of the 11
1065	1065	taxpayer for the taxable year’’. 12
1066	1066	(25) Section 36B(e)(1) is amended by striking 13
1067	1067	‘‘1 or more individuals for whom a taxpayer is al-14
1068	1068	lowed a deduction under section 151 (relating to al-15
1069	1069	lowance of deduction for personal exemptions) for 16
1070	1070	the taxable year (including the taxpayer or his 17
1071	1071	spouse)’’ and inserting ‘‘1 or more of the taxpayer, 18
1072	1072	the taxpayer’s spouse, or any dependent of the tax-19
1073	1073	payer’’. 20
1074	1074	(26) Section 42(i)(3)(D)(ii)(I) is amended by 21
1075	1075	striking ‘‘section 152’’ and inserting ‘‘section 7706’’. 22
1076	1076	(27) Section 45R(e)(1)(A)(iv) is amended— 23
1077	1077	(A) by striking ‘‘section 152(d)(2)’’ and in-24
1078	1078	serting ‘‘section 7706(d)(2)’’, and 25
1079	1079	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00034 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
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1081	1081	•HR 137 IH
1082	1082	(B) by striking ‘‘section 152(d)(2)(H)’’ 1
1083	1083	and inserting ‘‘section 7706(d)(2)(H)’’. 2
1084	1084	(28) Section 51(i)(1) is amended— 3
1085	1085	(A) by striking ‘‘section 152(d)(2)’’ in sub-4
1086	1086	paragraphs (A) and (B) and inserting ‘‘section 5
1087	1087	7706(d)(2)’’, and 6
1088	1088	(B) by striking ‘‘section 152(d)(2)(H)’’ in 7
1089	1089	subparagraph (C) and inserting ‘‘section 8
1090	1090	7706(d)(2)(H)’’. 9
1091	1091	(29) Section 56(b)(1)(D) is amended— 10
1092	1092	(A) by striking ‘‘, the deduction for per-11
1093	1093	sonal exemptions under section 151,’’, and 12
1094	1094	(B) by striking ‘‘
1095	1095	AND DEDUCTION FOR 13
1096	1096	PERSONAL EXEMPTIONS ’’ in the heading there-14
1097	1097	of. 15
1098	1098	(30) Section 63(b) is amended by adding ‘‘and’’ 16
1099	1099	at the end of paragraph (1), by striking paragraph 17
1100	1100	(2), and by redesignating paragraph (3) as para-18
1101	1101	graph (2). 19
1102	1102	(31) Section 63(c), as amended by section 121, 20
1103	1103	is amended by striking paragraph (3) and redesig-21
1104	1104	nating paragraphs (4), (5), and (6) as paragraphs 22
1105	1105	(3), (4), and (5), respectively. 23
1106	1106	(32) Section 63(c)(4), as redesignated, is 24
1107	1107	amended— 25
1108	1108	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00035 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
1109	1109	kjohnson on DSK7ZCZBW3PROD with $$_JOB 36
1110	1110	•HR 137 IH
1111	1111	(A) by striking ‘‘with respect to whom a 1
1112	1112	deduction under section 151 is allowable to’’ 2
1113	1113	and inserting ‘‘who is a dependent of’’, and 3
1114	1114	(B) by striking ‘‘
1115	1115	CERTAIN’’ in the heading 4
1116	1116	thereof. 5
1117	1117	(33) Section 63(f) is amended by striking all 6
1118	1118	that precedes paragraph (3) and inserting the fol-7
1119	1119	lowing: 8
1120	1120	‘‘(f) A
1121	1121	DDITIONALSTANDARDDEDUCTION FOR THE 9
1122	1122	A
1123	1123	GED ANDBLIND.— 10
1124	1124	‘‘(1) I
1125	1125	N GENERAL.—For purposes of subsection 11
1126	1126	(c)(1), the additional standard deduction is, with re-12
1127	1127	spect to a taxpayer for a taxable year, the sum of— 13
1128	1128	‘‘(A) $600 if the taxpayer has attained age 14
1129	1129	65 before the close of such taxable year, and 15
1130	1130	‘‘(B) $600 if the taxpayer is blind as of 16
1131	1131	the close of such taxable year. 17
1132	1132	‘‘(2) A
1133	1133	PPLICATION TO MARRIED INDIVID -18
1134	1134	UALS.— 19
1135	1135	‘‘(A) J
1136	1136	OINT RETURNS.—In the case of a 20
1137	1137	joint return, paragraph (1) shall be applied sep-21
1138	1138	arately with respect to each spouse. 22
1139	1139	‘‘(B) C
1140	1140	ERTAIN MARRIED INDIVIDUALS FIL -23
1141	1141	ING SEPARATELY.—In the case of a married in-24
1142	1142	dividual filing a separate return, if— 25
1143	1143	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00036 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
1144	1144	kjohnson on DSK7ZCZBW3PROD with $$_JOB 37
1145	1145	•HR 137 IH
1146	1146	‘‘(i) the spouse of such individual has 1
1147	1147	no gross income for the calendar year in 2
1148	1148	which the taxable year of such individual 3
1149	1149	begins, 4
1150	1150	‘‘(ii) such spouse is not the dependent 5
1151	1151	of another taxpayer for a taxable year be-6
1152	1152	ginning in the calendar year in which such 7
1153	1153	individual’s taxable year begins, and 8
1154	1154	‘‘(iii) the TIN of such spouse is in-9
1155	1155	cluded on such individual’s return of tax 10
1156	1156	for the taxable year, 11
1157	1157	the additional standard deduction shall be de-12
1158	1158	termined in the same manner as if such indi-13
1159	1159	vidual and such individual’s spouse filed a joint 14
1160	1160	return.’’. 15
1161	1161	(34) Section 63(f)(3) is amended by striking 16
1162	1162	‘‘paragraphs (1) and (2)’’ and inserting ‘‘subpara-17
1163	1163	graphs (A) and (B) of paragraph (1)’’. 18
1164	1164	(35) Section 72(t)(2)(D)(i)(III) is amended by 19
1165	1165	striking ‘‘section 152’’ and inserting ‘‘section 7706’’. 20
1166	1166	(36) Section 72(t)(7)(A)(iii) is amended by 21
1167	1167	striking ‘‘section 152(f)(1)’’ and inserting ‘‘section 22
1168	1168	7706(f)(1)’’. 23
1169	1169	(37) Section 105(b) is amended— 24
1170	1170	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00037 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
1171	1171	kjohnson on DSK7ZCZBW3PROD with $$_JOB 38
1172	1172	•HR 137 IH
1173	1173	(A) by striking ‘‘as defined in section 152’’ 1
1174	1174	and inserting ‘‘as defined in section 7706’’, 2
1175	1175	(B) by striking ‘‘section 152(f)(1)’’ and in-3
1176	1176	serting ‘‘section 7706(f)(1)’’, and 4
1177	1177	(C) by striking ‘‘section 152(e)’’ and in-5
1178	1178	serting ‘‘section 7706(e)’’. 6
1179	1179	(38) Section 105(c)(1) is amended by striking 7
1180	1180	‘‘section 152’’ and inserting ‘‘section 7706’’. 8
1181	1181	(39) Section 125(e)(1)(D) is amended by strik-9
1182	1182	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 10
1183	1183	(40) Section 129(c)(1) is amended to read as 11
1184	1184	follows: 12
1185	1185	‘‘(1) who is a dependent of such employee or of 13
1186	1186	such employee’s spouse, or’’. 14
1187	1187	(41) Section 129(c)(2) is amended by striking 15
1188	1188	‘‘section 152(f)(1)’’ and inserting ‘‘section 16
1189	1189	7706(f)(1)’’. 17
1190	1190	(42) Section 132(h)(2)(B) is amended— 18
1191	1191	(A) by striking ‘‘section 152(f)(1)’’ and in-19
1192	1192	serting ‘‘section 7706(f)(1)’’, and 20
1193	1193	(B) by striking ‘‘section 152(e)’’ and in-21
1194	1194	serting ‘‘section 7706(e)’’. 22
1195	1195	(43) Section 139D(c)(5) is amended by striking 23
1196	1196	‘‘section 152’’ and inserting ‘‘section 7706’’. 24
1197	1197	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00038 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
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1199	1199	•HR 137 IH
1200	1200	(44) Section 139E(c)(2) is amended by striking 1
1201	1201	‘‘section 152’’ and inserting ‘‘section 7706’’. 2
1202	1202	(45) Section 162(l)(1)(D) is amended by strik-3
1203	1203	ing ‘‘section 152(f)(1)’’ and inserting ‘‘section 4
1204	1204	7706(f)(1)’’. 5
1205	1205	(46) Section 170(g)(1) is amended by striking 6
1206	1206	‘‘section 152’’ and inserting ‘‘section 7706’’. 7
1207	1207	(47) Section 170(g)(3) is amended by striking 8
1208	1208	‘‘section 152(d)(2)’’ and inserting ‘‘section 9
1209	1209	7706(d)(2)’’. 10
1210	1210	(48) Section 172(d) is amended by striking 11
1211	1211	paragraph (3). 12
1212	1212	(49) Section 213(a) is amended by striking 13
1213	1213	‘‘section 152’’ and inserting ‘‘section 7706’’. 14
1214	1214	(50) Section 213(d)(5) is amended by striking 15
1215	1215	‘‘section 152(e)’’ and inserting ‘‘section 7706(e)’’. 16
1216	1216	(51) Section 213(d)(11) is amended by striking 17
1217	1217	‘‘section 152(d)(2)’’ in the matter following subpara-18
1218	1218	graph (B) and inserting ‘‘section 7706(d)(2)’’. 19
1219	1219	(52) Section 220(b)(6) is amended by striking 20
1220	1220	‘‘with respect to whom a deduction under section 21
1221	1221	151 is allowable to’’ and inserting ‘‘who is a depend-22
1222	1222	ent of’’. 23
1223	1223	(53) Section 220(d)(2)(A) is amended by strik-24
1224	1224	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 25
1225	1225	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00039 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
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1227	1227	•HR 137 IH
1228	1228	(54) Section 221(d)(4) is amended by striking 1
1229	1229	‘‘section 152’’ and inserting ‘‘section 7706’’. 2
1230	1230	(55) Section 223(b)(6) is amended by striking 3
1231	1231	‘‘with respect to whom a deduction under section 4
1232	1232	151 is allowable to’’ and inserting ‘‘who is a depend-5
1233	1233	ent of’’. 6
1234	1234	(56) Section 223(d)(2)(A) is amended by strik-7
1235	1235	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 8
1236	1236	(57) Section 401(h) is amended by striking 9
1237	1237	‘‘section 152(f)(1)’’ in the last sentence and insert-10
1238	1238	ing ‘‘section 7706(f)(1)’’. 11
1239	1239	(58) Section 402(l)(4)(D) is amended by strik-12
1240	1240	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 13
1241	1241	(59) Section 409A(a)(2)(B)(ii)(I) is amended 14
1242	1242	by striking ‘‘section 152(a)’’ and inserting ‘‘section 15
1243	1243	7706(a)’’. 16
1244	1244	(60) Section 441(f)(2)(B)(iii) is amended by 17
1245	1245	striking ‘‘, but only the adjusted amount of the de-18
1246	1246	ductions for personal exemptions as described in sec-19
1247	1247	tion 443(c)’’. 20
1248	1248	(61) Section 443 is amended— 21
1249	1249	(A) in subsection (b)— 22
1250	1250	(i) by striking paragraph (3), and 23
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1253	1253	•HR 137 IH
1254	1254	(ii) by striking ‘‘modified taxable in-1
1255	1255	come’’ and inserting ‘‘taxable income’’ each 2
1256	1256	place such term appears, 3
1257	1257	(B) by striking subsection (c), and 4
1258	1258	(C) by redesignating subsections (d) and 5
1259	1259	(e) as subsections (c) and (d), respectively. 6
1260	1260	(62) Section 501(c)(9) is amended by striking 7
1261	1261	‘‘section 152(f)(1)’’ and inserting ‘‘section 8
1262	1262	7706(f)(1)’’. 9
1263	1263	(63) Section 529(e)(2)(B) is amended by strik-10
1264	1264	ing ‘‘section 152(d)(2)’’ and inserting ‘‘section 11
1265	1265	7706(d)(2)’’. 12
1266	1266	(64) Section 529A(e)(4) is amended— 13
1267	1267	(A) by striking ‘‘section 152(d)(2)(B)’’ and 14
1268	1268	inserting ‘‘section 7706(d)(2)(B)’’, and 15
1269	1269	(B) by striking ‘‘section 152(f)(1)(B)’’ and 16
1270	1270	inserting ‘‘section 7706(f)(1)(B)’’. 17
1271	1271	(65) Section 643(a)(2) is amended— 18
1272	1272	(A) by striking ‘‘(relating to deduction for 19
1273	1273	personal exemptions)’’ and inserting ‘‘(relating 20
1274	1274	to basic deduction)’’, and 21
1275	1275	(B) by striking ‘‘D
1276	1276	EDUCTION FOR PER -22
1277	1277	SONAL EXEMPTION’’ in the heading thereof and 23
1278	1278	inserting ‘‘B
1279	1279	ASIC DEDUCTION’’. 24
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1282	1282	•HR 137 IH
1283	1283	(66) Section 703(a)(2) is amended by striking 1
1284	1284	subparagraph (A) and by redesignating subpara-2
1285	1285	graphs (B) through (F) as subparagraphs (A) 3
1286	1286	through (E), respectively. 4
1287	1287	(67) Section 874 is amended by striking sub-5
1288	1288	section (b) and by redesignating subsection (c) as 6
1289	1289	subsection (b). 7
1290	1290	(68) Section 891 is amended by striking ‘‘under 8
1291	1291	section 151 and’’. 9
1292	1292	(69) Section 904(b)(1) is amended to read as 10
1293	1293	follows: 11
1294	1294	‘‘(1) D
1295	1295	EDUCTION FOR ESTATES AND TRUSTS .— 12
1296	1296	For purposes of subsection (a), the taxable income 13
1297	1297	of an estate or trust shall be computed without any 14
1298	1298	deduction under section 642(b).’’. 15
1299	1299	(70) Section 931(b)(1) is amended to read as 16
1300	1300	follows: 17
1301	1301	‘‘(1) any deduction from gross income, or’’. 18
1302	1302	(71) Section 933 is amended— 19
1303	1303	(A) by striking ‘‘as a deduction from his 20
1304	1304	gross income any deductions (other than the de-21
1305	1305	duction under section 151, relating to personal 22
1306	1306	exemptions)’’ in paragraph (1) and inserting 23
1307	1307	‘‘any deduction from gross income’’, and 24
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1310	1310	•HR 137 IH
1311	1311	(B) by striking ‘‘as a deduction from his 1
1312	1312	gross income any deductions (other than the de-2
1313	1313	duction for personal exemptions under section 3
1314	1314	151)’’ in paragraph (2) and inserting ‘‘any de-4
1315	1315	duction from gross income’’. 5
1316	1316	(72) Section 1212(b)(2)(B)(ii) is amended to 6
1317	1317	read as follows: 7
1318	1318	‘‘(ii) in the case of an estate or trust, 8
1319	1319	the deduction allowed for such year under 9
1320	1320	section 642(b).’’. 10
1321	1321	(73) Section 1361(c)(1)(C) is amended by strik-11
1322	1322	ing ‘‘section 152(f)(1)(C)’’ and inserting ‘‘section 12
1323	1323	7706(f)(1)(C)’’. 13
1324	1324	(74) Section 1402(a) is amended by striking 14
1325	1325	paragraph (7). 15
1326	1326	(75) Section 2032A(c)(7)(D) is amended by 16
1327	1327	striking ‘‘section 152(f)(2)’’ and inserting ‘‘section 17
1328	1328	7706(f)(2)’’. 18
1329	1329	(76) Section 3402(f)(1)(A) is amended by strik-19
1330	1330	ing ‘‘for whom a deduction is allowable with respect 20
1331	1331	to another taxpayer under section 151’’ and insert-21
1332	1332	ing ‘‘who is a dependent of another taxpayer’’. 22
1333	1333	(77) Section 3402(m)(1) is amended by striking 23
1334	1334	‘‘other than the deductions referred to in section 24
1335	1335	151 and’’. 25
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1338	1338	•HR 137 IH
1339	1339	(78) Section 3402(m)(3) is amended by striking 1
1340	1340	‘‘section 63(c)(3)’’ and inserting ‘‘section 63(f)’’. 2
1341	1341	(79) Section 3402(r)(2) is amended by striking 3
1342	1342	‘‘the sum of—’’ and all that follows and inserting 4
1343	1343	‘‘the basic standard deduction (as defined in section 5
1344	1344	63(c)) for an individual to whom section 63(c)(2)(C) 6
1345	1345	applies.’’. 7
1346	1346	(80) Section 5000A(b)(3)(A) is amended by 8
1347	1347	striking ‘‘section 152’’ and inserting ‘‘section 7706’’. 9
1348	1348	(81) Section 5000A(c)(4)(A) is amended by 10
1349	1349	striking ‘‘the number of individuals for whom the 11
1350	1350	taxpayer is allowed a deduction under section 151 12
1351	1351	(relating to allowance of deduction for personal ex-13
1352	1352	emptions) for the taxable year’’ and inserting ‘‘the 14
1353	1353	sum of 1 (2 in the case of a joint return) plus the 15
1354	1354	number of the taxpayer’s dependents for the taxable 16
1355	1355	year’’. 17
1356	1356	(82) Section 6013(b)(3)(A) is amended— 18
1357	1357	(A) by striking ‘‘had less than the exemp-19
1358	1358	tion amount of gross income’’ in clause (ii) and 20
1359	1359	inserting ‘‘had no gross income’’, 21
1360	1360	(B) by striking ‘‘had gross income of the 22
1361	1361	exemption amount or more’’ in clause (iii) and 23
1362	1362	inserting ‘‘had any gross income’’, and 24
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1365	1365	•HR 137 IH
1366	1366	(C) by striking the flush language fol-1
1367	1367	lowing clause (iii). 2
1368	1368	(83) Section 6014(a) is amended by striking 3
1369	1369	‘‘section 6012(a)(1)(C)(i)’’ and inserting ‘‘section 4
1370	1370	6012(a)(1)(B)(iii)’’. 5
1371	1371	(84) Section 6014(b)(4) is amended by striking 6
1372	1372	‘‘63(c)(5)’’ and inserting ‘‘63(c)(4)’’. 7
1373	1373	(85) Section 6103(l)(13) is amended— 8
1374	1374	(A) in subparagraph (A), by striking 9
1375	1375	clause (iv) and redesignating clauses (v) and 10
1376	1376	(vi) as clauses (iv) and (v), respectively, and 11
1377	1377	(B) in subparagraph (C)(i), by striking 12
1378	1378	‘‘clauses (i) through (iv)’’ and inserting 13
1379	1379	‘‘clauses (i) through (iii)’’. 14
1380	1380	(86) Section 6103(l)(21)(A)(iii) is amended to 15
1381	1381	read as follows: 16
1382	1382	‘‘(iii) the number of the taxpayer’s de-17
1383	1383	pendents,’’. 18
1384	1384	(87) Section 6213(g)(2)(H) is amended by 19
1385	1385	striking ‘‘section 21 (relating to expenses for house-20
1386	1386	hold and dependent care services necessary for gain-21
1387	1387	ful employment) or section 151 (relating to allow-22
1388	1388	ance of deductions for personal exemptions)’’ and in-23
1389	1389	serting ‘‘subsection (a)(1)(B), (b)(1)(A)(ii), or 24
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1392	1392	•HR 137 IH
1393	1393	(b)(1)(B) of section 2 or section 21, 35(d)(1)(B), 1
1394	1394	36B(b)(3)(B), or 63(f)(2)(B)’’. 2
1395	1395	(88) Section 6334(d) is amended— 3
1396	1396	(A) by amending paragraph (2) to read as 4
1397	1397	follows: 5
1398	1398	‘‘(2) E
1399	1399	XEMPT AMOUNT.— 6
1400	1400	‘‘(A) I
1401	1401	N GENERAL.—For purposes of para-7
1402	1402	graph (1), the term ‘exempt amount’ means an 8
1403	1403	amount equal to— 9
1404	1404	‘‘(i) the sum of the amount deter-10
1405	1405	mined under subparagraph (B) and the 11
1406	1406	standard deduction, divided by 12
1407	1407	‘‘(ii) 52. 13
1408	1408	‘‘(B) A
1409	1409	MOUNT DETERMINED .—For pur-14
1410	1410	poses of subparagraph (A), the amount deter-15
1411	1411	mined under this subparagraph is— 16
1412	1412	‘‘(i) the dollar amount in effect under 17
1413	1413	section 7706(d)(1)(B), multiplied by 18
1414	1414	‘‘(ii) the number of the taxpayer’s de-19
1415	1415	pendents for the taxable year in which the 20
1416	1416	levy occurs. 21
1417	1417	‘‘(C) V
1418	1418	ERIFIED STATEMENT .—Unless the 22
1419	1419	taxpayer submits to the Secretary a written and 23
1420	1420	properly verified statement specifying the facts 24
1421	1421	necessary to determine the proper amount 25
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1424	1424	•HR 137 IH
1425	1425	under subparagraph (A), subparagraph (A) 1
1426	1426	shall be applied as if the taxpayer were a mar-2
1427	1427	ried individual filing a separate return with no 3
1428	1428	dependents.’’, and 4
1429	1429	(B) by striking paragraph (4). 5
1430	1430	(89) Section 7702B(f)(2)(C)(iii) is amended by 6
1431	1431	striking ‘‘section 152(d)(2)’’ and inserting ‘‘section 7
1432	1432	7706(d)(2)’’. 8
1433	1433	(90) Section 7703(a) is amended by striking 9
1434	1434	‘‘part V of subchapter B of chapter 1 and’’. 10
1435	1435	(91) Section 7703(b)(1) is amended by striking 11
1436	1436	‘‘section 152(f)(1))’’ and all that follows and insert-12
1437	1437	ing ‘‘section 7706(f)(1)) who is a dependent of such 13
1438	1438	individual for the taxable year (or would be but for 14
1439	1439	section 7706(e)),’’. 15
1440	1440	(92) Section 7706(a), as redesignated by this 16
1441	1441	section, is amended by striking ‘‘this subtitle’’ and 17
1442	1442	inserting ‘‘this title’’. 18
1443	1443	(93)(A) Section 7706(d)(1)(B), as redesignated 19
1444	1444	by this section, is amended by striking ‘‘the exemp-20
1445	1445	tion amount (as defined in section 151(d))’’ and in-21
1446	1446	serting ‘‘$4,150’’. 22
1447	1447	(B) Section 7706(d), as redesignated by this 23
1448	1448	section, is amended by adding at the end the fol-24
1449	1449	lowing new paragraph: 25
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1453	1453	‘‘(6) INFLATION ADJUSTMENT .—The $4,150 1
1454	1454	amount in paragraph (1)(B) shall be increased by an 2
1455	1455	amount equal to— 3
1456	1456	‘‘(A) such dollar amount, multiplied by 4
1457	1457	‘‘(B) the cost-of-living adjustment deter-5
1458	1458	mined under section 1(f)(3) for the calendar 6
1459	1459	year in which such taxable year begins, deter-7
1460	1460	mined by substituting ‘calendar year 2017’ for 8
1461	1461	‘calendar year 2016’ in subparagraph (A)(ii) 9
1462	1462	thereof. 10
1463	1463	If any increase determined under the preceding sen-11
1464	1464	tence is not a multiple of $50, such increase shall 12
1465	1465	be rounded to the next lowest multiple of $50.’’. 13
1466	1466	(94) Section 7706(e)(3), as redesignated by this 14
1467	1467	section, is amended by inserting ‘‘(as in effect before 15
1468	1468	its repeal)’’ after ‘‘section 151’’. 16
1469	1469	(95) Section 7706(f)(6)(B), as redesignated by 17
1470	1470	this section, is amended by striking clause (i) and 18
1471	1471	designating clauses (ii), (iii), and (iv) as clauses (i), 19
1472	1472	(ii), and (iii), respectively. 20
1473	1473	(96) The table of parts for subchapter B of 21
1474	1474	chapter 1 is amended by striking the item relating 22
1475	1475	to part V. 23
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1478	1478	•HR 137 IH
1479	1479	(97) The table of sections for chapter 79 is 1
1480	1480	amended by adding at the end the following new 2
1481	1481	item: 3
1482	1482	‘‘Sec. 7706. Dependent defined.’’.
1483	1483	(g) EFFECTIVEDATE.—The amendments made by 4
1484	1484	this section shall apply to taxable years beginning after 5
1485	1485	the date of the enactment of this Act. 6
1486	1486	SEC. 142. LIMITATION ON DEDUCTION FOR STATE AND 7
1487	1487	LOCAL, ETC., TAXES. 8
1488	1488	(a) I
1489	1489	NGENERAL.—Section 164(b)(6) is amended by 9
1490	1490	striking all that precedes ‘‘The preceding sentence’’ and 10
1491	1491	inserting the following: 11
1492	1492	‘‘(6) L
1493	1493	IMITATION ON INDIVIDUAL DEDUC -12
1494	1494	TIONS.—In the case of an individual— 13
1495	1495	‘‘(A) no deduction shall be allowed under 14
1496	1496	this chapter for foreign real property taxes paid 15
1497	1497	or accrued during the taxable year, and 16
1498	1498	‘‘(B) the aggregate amount of the deduc-17
1499	1499	tion allowed under this chapter for taxes de-18
1500	1500	scribed in paragraphs (1), (2), and (3) of sub-19
1501	1501	section (a) and paragraph (5) of this subsection 20
1502	1502	(and any tax described in any such paragraph 21
1503	1503	taken into account under section 216(a)(1)) 22
1504	1504	paid or accrued by the taxpayer during the tax-23
1505	1505	able year shall not exceed $10,000 ($5,000 in 24
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1508	1508	•HR 137 IH
1509	1509	the case of a married individual filing a sepa-1
1510	1510	rate return).’’. 2
1511	1511	(b) E
1512	1512	FFECTIVEDATE.—The amendment made by 3
1513	1513	this section shall apply to taxable years beginning after 4
1514	1514	the date of the enactment of this Act. 5
1515	1515	SEC. 143. LIMITATION ON DEDUCTION FOR QUALIFIED RES-6
1516	1516	IDENCE INTEREST. 7
1517	1517	(a) I
1518	1518	NTEREST ONHOMEEQUITYINDEBTEDNESS.— 8
1519	1519	Section 163(h)(3)(A) is amended by striking ‘‘during the 9
1520	1520	taxable year on’’ and all that follows through ‘‘residence 10
1521	1521	of the taxpayer.’’ and inserting ‘‘during the taxable year 11
1522	1522	on acquisition indebtedness with respect to any qualified 12
1523	1523	residence of the taxpayer.’’. 13
1524	1524	(b) L
1525	1525	IMITATION ONACQUISITIONINDEBTEDNESS.— 14
1526	1526	Section 163(h)(3)(B)(ii) is amended to read as follows: 15
1527	1527	‘‘(ii) L
1528	1528	IMITATION.—The aggregate 16
1529	1529	amount treated as acquisition indebtedness 17
1530	1530	for any period shall not exceed the excess 18
1531	1531	(if any) of— 19
1532	1532	‘‘(I) $750,000 ($375,000, in the 20
1533	1533	case of a married individual filing a 21
1534	1534	separate return), over 22
1535	1535	‘‘(II) the sum of the aggregate 23
1536	1536	outstanding pre-October 13, 1987, in-24
1537	1537	debtedness (as defined in subpara-25
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1540	1540	•HR 137 IH
1541	1541	graph (D)) plus the aggregate out-1
1542	1542	standing pre-December 15, 2017, in-2
1543	1543	debtedness (as defined in subpara-3
1544	1544	graph (C)).’’. 4
1545	1545	(c) T
1546	1546	REATMENT OF INDEBTEDNESS INCURRED ON 5
1547	1547	ORBEFOREDECEMBER15, 2017.—Section 163(h)(3)(C) 6
1548	1548	is amended to read as follows: 7
1549	1549	‘‘(C) T
1550	1550	REATMENT OF INDEBTEDNESS IN -8
1551	1551	CURRED ON OR BEFORE DECEMBER 15 , 2017.— 9
1552	1552	‘‘(i) I
1553	1553	N GENERAL.—In the case of any 10
1554	1554	pre-December 15, 2017, indebtedness, sub-11
1555	1555	paragraph (B)(ii) shall not apply and the 12
1556	1556	aggregate amount of such indebtedness 13
1557	1557	treated as acquisition indebtedness for any 14
1558	1558	period shall not exceed the excess (if any) 15
1559	1559	of— 16
1560	1560	‘‘(I) $1,000,000 ($500,000, in 17
1561	1561	the case of a married individual filing 18
1562	1562	a separate return), over 19
1563	1563	‘‘(II) the aggregate outstanding 20
1564	1564	pre-October 13, 1987, indebtedness 21
1565	1565	(as defined in subparagraph (D)). 22
1566	1566	‘‘(ii) P
1567	1567	RE-DECEMBER 15, 2017, IN-23
1568	1568	DEBTEDNESS.—For purposes of this sub-24
1569	1569	paragraph— 25
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1572	1572	•HR 137 IH
1573	1573	‘‘(I) IN GENERAL.—The term 1
1574	1574	‘pre-December 15, 2017, indebted-2
1575	1575	ness’ means indebtedness (other than 3
1576	1576	pre-October 13, 1987, indebtedness) 4
1577	1577	incurred on or before December 15, 5
1578	1578	2017. 6
1579	1579	‘‘(II) B
1580	1580	INDING WRITTEN CON -7
1581	1581	TRACT EXCEPTION.—In the case of a 8
1582	1582	taxpayer who enters into a written 9
1583	1583	binding contract before December 15, 10
1584	1584	2017, to close on the purchase of a 11
1585	1585	principal residence before January 1, 12
1586	1586	2018, and who purchases such resi-13
1587	1587	dence before April 1, 2018, the term 14
1588	1588	‘pre-December 15, 2017, indebted-15
1589	1589	ness’ shall include indebtedness se-16
1590	1590	cured by such residence. 17
1591	1591	‘‘(iii) R
1592	1592	EFINANCING INDEBTED -18
1593	1593	NESS.— 19
1594	1594	‘‘(I) I
1595	1595	N GENERAL.—In the case 20
1596	1596	of any indebtedness which is incurred 21
1597	1597	to refinance indebtedness, such refi-22
1598	1598	nanced indebtedness shall be treated 23
1599	1599	for purposes of this subparagraph as 24
1600	1600	incurred on the date that the original 25
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1603	1603	•HR 137 IH
1604	1604	indebtedness was incurred to the ex-1
1605	1605	tent the amount of the indebtedness 2
1606	1606	resulting from such refinancing does 3
1607	1607	not exceed the amount of the refi-4
1608	1608	nanced indebtedness. 5
1609	1609	‘‘(II) L
1610	1610	IMITATION ON PERIOD OF 6
1611	1611	REFINANCING.—Subclause (I) shall 7
1612	1612	not apply to any indebtedness after 8
1613	1613	the expiration of the term of the origi-9
1614	1614	nal indebtedness or, if the principal of 10
1615	1615	such original indebtedness is not am-11
1616	1616	ortized over its term, the expiration of 12
1617	1617	the term of the 1st refinancing of 13
1618	1618	such indebtedness (or if earlier, the 14
1619	1619	date which is 30 years after the date 15
1620	1620	of such 1st refinancing).’’. 16
1621	1621	(d) C
1622	1622	OORDINATIONWITHTREATMENT OF INDEBT-17
1623	1623	EDNESSINCURRED ON ORBEFOREOCTOBER13, 1987.— 18
1624	1624	Section 163(h)(3)(D) is amended— 19
1625	1625	(1) by striking clause (ii) and redesignating 20
1626	1626	clauses (iii) and (iv) as clauses (ii) and (iii), respec-21
1627	1627	tively, and 22
1628	1628	(2) in clause (iii) (as so redesignated)— 23
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1631	1631	•HR 137 IH
1632	1632	(A) by striking ‘‘clause (iii)’’ in the matter 1
1633	1633	preceding subclause (I) and inserting ‘‘clause 2
1634	1634	(ii)’’, and 3
1635	1635	(B) by striking ‘‘clause (iii)(I)’’ in sub-4
1636	1636	clauses (I) and (II) and inserting ‘‘clause 5
1637	1637	(ii)(I)’’. 6
1638	1638	(e) C
1639	1639	OORDINATIONWITHEXCLUSION OF INCOME 7
1640	1640	F
1641	1641	ROM DISCHARGE OF INDEBTEDNESS.—Section 8
1642	1642	108(h)(2) is amended by striking ‘‘applied by substituting 9
1643	1643	‘$750,000 ($375,000’ for ‘$1,000,000 ($500,000’ in 10
1644	1644	clause (ii) thereof and’’. 11
1645	1645	(f) C
1646	1646	ONFORMINGAMENDMENT.—Section 163(h)(3) 12
1647	1647	is amended by striking subparagraph (F). 13
1648	1648	(g) E
1649	1649	FFECTIVEDATE.—The amendments made by 14
1650	1650	this section shall apply to taxable years beginning after 15
1651	1651	the date of the enactment of this Act. 16
1652	1652	SEC. 144. MODIFICATION OF DEDUCTION FOR PERSONAL 17
1653	1653	CASUALTY LOSSES. 18
1654	1654	(a) I
1655	1655	NGENERAL.—Section 165(h)(5)(A) is amended 19
1656	1656	by striking ‘‘in a taxable year beginning after December 20
1657	1657	31, 2017, and before January 1, 2026,’’. 21
1658	1658	(b) C
1659	1659	ONFORMINGAMENDMENTS.— 22
1660	1660	(1) Section 165(h)(5)(B) is amended by strik-23
1661	1661	ing ‘‘for any taxable year to which subparagraph (A) 24
1662	1662	applies’’. 25
1663	1663	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00054 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
1664	1664	kjohnson on DSK7ZCZBW3PROD with $$_JOB 55
1665	1665	•HR 137 IH
1666	1666	(2) Section 165(h)(5) is amended by striking 1
1667	1667	‘‘
1668	1668	FOR TAXABLE YEARS 2018 THROUGH 2025 ’’ in the 2
1669	1669	heading thereof and inserting ‘‘
1670	1670	TO LOSSES ATTRIB-3
1671	1671	UTABLE TO FEDERALLY DECLARED DISASTERS ’’. 4
1672	1672	(c) E
1673	1673	FFECTIVEDATE.—The amendments made by 5
1674	1674	this section shall apply to losses sustained in taxable years 6
1675	1675	beginning after the date of the enactment of this Act. 7
1676	1676	SEC. 145. TERMINATION OF MISCELLANEOUS ITEMIZED DE-8
1677	1677	DUCTIONS. 9
1678	1678	(a) I
1679	1679	NGENERAL.—Section 67 is amended— 10
1680	1680	(1) by amending subsection (a) to read as fol-11
1681	1681	lows: 12
1682	1682	‘‘(a) I
1683	1683	NGENERAL.—In the case of an individual, mis-13
1684	1684	cellaneous itemized deductions shall not be allowed.’’, and 14
1685	1685	(2) by striking subsection (g). 15
1686	1686	(b) M
1687	1687	OVEMENT OF DEFINITION OF ADJUSTED 16
1688	1688	G
1689	1689	ROSSINCOME FORESTATES ANDTRUSTS.— 17
1690	1690	(1) Section 67 is amended by striking sub-18
1691	1691	section (e). 19
1692	1692	(2) Section 641 is amended by adding at the 20
1693	1693	end the following new subsection: 21
1694	1694	‘‘(d) C
1695	1695	OMPUTATION OFADJUSTEDGROSSINCOME.— 22
1696	1696	For purposes of this title, the adjusted gross income of 23
1697	1697	an estate or trust shall be computed in the same manner 24
1698	1698	as in the case of an individual, except that— 25
1699	1699	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00055 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
1700	1700	kjohnson on DSK7ZCZBW3PROD with $$_JOB 56
1701	1701	•HR 137 IH
1702	1702	‘‘(1) the deductions for costs which are paid or 1
1703	1703	incurred in connection with the administration of the 2
1704	1704	estate or trust and which would not have been in-3
1705	1705	curred if the property were not held in such trust or 4
1706	1706	estate, and 5
1707	1707	‘‘(2) the deductions allowable under sections 6
1708	1708	642(b), 651, and 661, 7
1709	1709	shall be treated as allowable in arriving at adjusted gross 8
1710	1710	income.’’. 9
1711	1711	(c) C
1712	1712	ONFORMINGAMENDMENTS.— 10
1713	1713	(1) Section 56(b)(1)(A) is amended to read as 11
1714	1714	follows: 12
1715	1715	‘‘(A) C
1716	1716	ERTAIN TAXES .—No deduction 13
1717	1717	(other than a deduction allowable in computing 14
1718	1718	adjusted gross income) shall be allowed for any 15
1719	1719	taxes described in paragraph (1), (2), or (3) of 16
1720	1720	section 164(a) or clause (ii) of section 17
1721	1721	164(b)(5)(A).’’. 18
1722	1722	(2) Section 56(b)(1)(C), as amended by the 19
1723	1723	preceding provisions of this Act, is amended by 20
1724	1724	striking ‘‘subparagraph (A)(ii)’’ and inserting ‘‘sub-21
1725	1725	paragraph (A)’’. 22
1726	1726	(3) Section 62(a) is amended by striking ‘‘sub-23
1727	1727	title’’ in the matter preceding paragraph (1) and in-24
1728	1728	serting ‘‘title’’. 25
1729	1729	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00056 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
1730	1730	kjohnson on DSK7ZCZBW3PROD with $$_JOB 57
1731	1731	•HR 137 IH
1732	1732	(4) Section 641(c)(2)(E) is amended to read as 1
1733	1733	follows: 2
1734	1734	‘‘(E) Section 642(c) shall not apply.’’. 3
1735	1735	(5) Section 1411(a)(2) is amended by striking 4
1736	1736	‘‘(as defined in section 67(e))’’. 5
1737	1737	(6) Section 6654(d)(1)(C) is amended by strik-6
1738	1738	ing clause (iii). 7
1739	1739	(7) Section 67 is amended in the heading, by 8
1740	1740	striking ‘‘
1741	1741	2-PERCENT FLOOR ON ’’ and inserting 9
1742	1742	‘‘
1743	1743	DENIAL OF’’. 10
1744	1744	(8) The table of sections for part 1 of sub-11
1745	1745	chapter B of chapter 1 is amended by striking the 12
1746	1746	item relating to section 67 and inserting the fol-13
1747	1747	lowing new item: 14
1748	1748	‘‘Sec. 67. Denial of miscellaneous itemized deductions.’’.
1749	1749	(d) EFFECTIVEDATE.—The amendments made by 15
1750	1750	this section shall apply to taxable years beginning after 16
1751	1751	the date of the enactment of this Act. 17
1752	1752	SEC. 146. REPEAL OF OVERALL LIMITATION ON ITEMIZED 18
1753	1753	DEDUCTIONS. 19
1754	1754	(a) I
1755	1755	NGENERAL.—Part 1 of subchapter B of chapter 20
1756	1756	1 is amended by striking section 68 (and the item relating 21
1757	1757	to such section in the table of sections for such part). 22
1758	1758	(b) C
1759	1759	ONFORMINGAMENDMENTS.— 23
1760	1760	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00057 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
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1762	1762	•HR 137 IH
1763	1763	(1) Section 56(b)(1), as amended by the pre-1
1764	1764	ceding provisions of this Act, is amended by striking 2
1765	1765	subparagraph (E). 3
1766	1766	(2) Section 164(b)(5)(H)(ii)(III) is amended by 4
1767	1767	striking ‘‘(as determined under section 68(b))’’. 5
1768	1768	(3) Section 164(b)(5)(H) is amended by adding 6
1769	1769	at the end the following new clause: 7
1770	1770	‘‘(iii) A
1771	1771	PPLICABLE AMOUNT DE -8
1772	1772	FINED.—For purposes of clause (ii), the 9
1773	1773	term ‘applicable amount’ means— 10
1774	1774	‘‘(I) $300,000 in the case of a 11
1775	1775	joint return or a surviving spouse, 12
1776	1776	‘‘(II) $275,000 in the case of a 13
1777	1777	head of household, 14
1778	1778	‘‘(III) $250,000 in the case of an 15
1779	1779	individual who is not married and who 16
1780	1780	is not a surviving spouse or head of 17
1781	1781	household, and 18
1782	1782	‘‘(IV)
1783	1783	1
1784	1784	⁄2the amount applicable 19
1785	1785	under subclause (I) in the case of a 20
1786	1786	married individual filing a separate 21
1787	1787	return. 22
1788	1788	For purposes of this paragraph, marital 23
1789	1789	status shall be determined under section 24
1790	1790	7703. In the case of any taxable year be-25
1791	1791	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00058 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
1792	1792	kjohnson on DSK7ZCZBW3PROD with $$_JOB 59
1793	1793	•HR 137 IH
1794	1794	ginning in calendar years after the date of 1
1795	1795	the enactment of this clause, each of the 2
1796	1796	dollar amounts in this clause shall be in-3
1797	1797	creased by an amount equal to such dollar 4
1798	1798	amount, multiplied by the cost-of-living ad-5
1799	1799	justment determined under section 1(f)(3) 6
1800	1800	for the calendar year in which the taxable 7
1801	1801	year begins, determined by substituting 8
1802	1802	‘2012’ for ‘2016’ in subparagraph (A)(ii) 9
1803	1803	thereof. If any amount after adjustment 10
1804	1804	under the preceding sentence is not a mul-11
1805	1805	tiple of $50, such amount shall be rounded 12
1806	1806	to the next lowest multiple of $50.’’. 13
1807	1807	(c) E
1808	1808	FFECTIVEDATE.—The amendments made by 14
1809	1809	this section shall apply to taxable years beginning after 15
1810	1810	the date of the enactment of this Act. 16
1811	1811	SEC. 147. TERMINATION OF EXCLUSION FOR QUALIFIED BI-17
1812	1812	CYCLE COMMUTING REIMBURSEMENT. 18
1813	1813	(a) I
1814	1814	NGENERAL.—Section 132(f)(1) is amended by 19
1815	1815	striking subparagraph (D). 20
1816	1816	(b) C
1817	1817	ONFORMINGAMENDMENTS.— 21
1818	1818	(1) Section 132(f)(2) is amended by adding 22
1819	1819	‘‘and’’ at the end of subparagraph (A), striking ‘‘, 23
1820	1820	and’’ at the end of subparagraph (B) and inserting 24
1821	1821	a period, and striking subparagraph (C). 25
1822	1822	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00059 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
1823	1823	kjohnson on DSK7ZCZBW3PROD with $$_JOB 60
1824	1824	•HR 137 IH
1825	1825	(2) Section 132(f)(4) is amended by striking 1
1826	1826	‘‘(other than a qualified bicycle commuting reim-2
1827	1827	bursement)’’. 3
1828	1828	(3) Section 132(f) is amended by striking para-4
1829	1829	graph (8). 5
1830	1830	(4) Section 274(l)(2) is amended by striking 6
1831	1831	‘‘after December 31, 2017, and before January 1, 7
1832	1832	2026’’. 8
1833	1833	(c) E
1834	1834	FFECTIVEDATE.—The amendments made by 9
1835	1835	this section shall apply to taxable years beginning after 10
1836	1836	the date of the enactment of this Act. 11
1837	1837	SEC. 148. QUALIFIED MOVING EXPENSE REIMBURSEMENT 12
1838	1838	EXCLUSION LIMITED TO MEMBERS OF 13
1839	1839	ARMED FORCES. 14
1840	1840	(a) I
1841	1841	NGENERAL.—Section 132(g) is amended— 15
1842	1842	(1) by striking ‘‘by an individual’’ in paragraph 16
1843	1843	(1) and inserting ‘‘by a qualified military indi-17
1844	1844	vidual’’, and 18
1845	1845	(2) by striking paragraph (2) and inserting the 19
1846	1846	following new paragraph: 20
1847	1847	‘‘(2) Q
1848	1848	UALIFIED MILITARY INDIVIDUAL .—For 21
1849	1849	purposes of this subsection, the term ‘qualified mili-22
1850	1850	tary individual’ means a member of the Armed 23
1851	1851	Forces of the United States on active duty who 24
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1853	1853	kjohnson on DSK7ZCZBW3PROD with $$_JOB 61
1854	1854	•HR 137 IH
1855	1855	moves pursuant to a military order and incident to 1
1856	1856	a permanent change of station.’’. 2
1857	1857	(b) E
1858	1858	FFECTIVEDATE.—The amendments made by 3
1859	1859	this section shall apply to taxable years beginning after 4
1860	1860	the date of the enactment of this Act. 5
1861	1861	SEC. 149. DEDUCTION FOR MOVING EXPENSES LIMITED TO 6
1862	1862	MEMBERS OF ARMED FORCES. 7
1863	1863	(a) I
1864	1864	NGENERAL.—Section 217 is amended— 8
1865	1865	(1) by amending subsection (a) to read as fol-9
1866	1866	lows: 10
1867	1867	‘‘(a) D
1868	1868	EDUCTIONALLOWED.—There shall be allowed 11
1869	1869	as a deduction moving expenses paid or incurred during 12
1870	1870	the taxable year by a member of the Armed Forces of the 13
1871	1871	United States on active duty who moves pursuant to a 14
1872	1872	military order and incident to a permanent change of sta-15
1873	1873	tion.’’, 16
1874	1874	(2) by striking subsections (c), (d), (f), (g), and 17
1875	1875	(k) and redesignating subsections (h), (i), and (j) as 18
1876	1876	subsections (c), (d), and (f), respectively, and 19
1877	1877	(3) by inserting after subsection (d), as so re-20
1878	1878	designated, the following new subsection: 21
1879	1879	‘‘(e) E
1880	1880	XPENSESFURNISHEDIN-KIND.—Any moving 22
1881	1881	and storage expenses which are furnished in-kind (or for 23
1882	1882	which reimbursement or an allowance is provided, but only 24
1883	1883	to the extent of the expenses paid or incurred)— 25
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1886	1886	•HR 137 IH
1887	1887	‘‘(1) to a member described in subsection (a), 1
1888	1888	or to such member’s spouse or dependents, shall not 2
1889	1889	be includible in gross income, and no reporting with 3
1890	1890	respect to such expenses shall be required by the 4
1891	1891	Secretary of Defense or the Secretary of Transpor-5
1892	1892	tation, as the case may be, and 6
1893	1893	‘‘(2) to the spouse and dependents of a member 7
1894	1894	described in subsection (a) with regard to moving to 8
1895	1895	a location other than the one to which such member 9
1896	1896	moves (or from a location other than the one from 10
1897	1897	which such member moves), this section shall apply 11
1898	1898	with respect to the moving expenses of such spouse 12
1899	1899	and dependents as if such spouse were a member de-13
1900	1900	scribed in subsection (a).’’. 14
1901	1901	(b) C
1902	1902	ONFORMINGAMENDMENTS.— 15
1903	1903	(1) Subsections (d)(3)(C) and (e) of section 23 16
1904	1904	are each amended by striking ‘‘section 217(h)(3)’’ 17
1905	1905	and inserting ‘‘section 217(c)(3)’’. 18
1906	1906	(2) Section 7872(f) is amended by striking 19
1907	1907	paragraph (11). 20
1908	1908	(3) Section 217 is amended in the heading by 21
1909	1909	striking ‘‘
1910	1910	MOVING EXPENSES ’’ and inserting 22
1911	1911	‘‘
1912	1912	CERTAIN MOVING EXPENSES OF MEMBERS OF 23
1913	1913	ARMED FORCES ’’. 24
1914	1914	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00062 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
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1916	1916	•HR 137 IH
1917	1917	(4) The table of sections for part VII of sub-1
1918	1918	chapter B of chapter 1 is amended by striking the 2
1919	1919	item relating to section 217 and inserting the fol-3
1920	1920	lowing new item: 4
1921	1921	‘‘Sec. 217. Certain moving expenses of members of Armed Forces.’’.
1922	1922	(c) EFFECTIVEDATE.—The amendments made by 5
1923	1923	this section shall apply to taxable years beginning after 6
1924	1924	the date of the enactment of this Act. 7
1925	1925	SEC. 150. LIMITATION ON WAGERING LOSSES. 8
1926	1926	(a) I
1927	1927	NGENERAL.—Section 165(d) is amended by 9
1928	1928	striking ‘‘in the case of taxable years beginning after De-10
1929	1929	cember 31, 2017, and before January 1, 2026,’’. 11
1930	1930	(b) E
1931	1931	FFECTIVEDATE.—The amendment made by 12
1932	1932	this section shall apply to taxable years beginning after 13
1933	1933	the date of the enactment of this Act. 14
1934	1934	Subtitle F—Increase in Estate and 15
1935	1935	Gift Tax Exemption 16
1936	1936	SEC. 151. INCREASE IN ESTATE AND GIFT TAX EXEMPTION. 17
1937	1937	(a) I
1938	1938	NGENERAL.—Section 2010(c)(3) is amended in 18
1939	1939	subparagraph (A), by striking ‘‘$5,000,000’’ and inserting 19
1940	1940	‘‘$10,000,000’’. 20
1941	1941	(b) C
1942	1942	ONFORMINGAMENDMENT.—Section 2010(c)(3) 21
1943	1943	is amended by striking subparagraph (C). 22
1944	1944	(c) E
1945	1945	FFECTIVEDATE.—The amendments made by 23
1946	1946	this section shall apply to estates of decedents dying and 24
1947	1947	gifts made after the date of the enactment of this Act. 25
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1950	1950	•HR 137 IH
1951	1951	TITLE II—INCREASED EXEMP-1
1952	1952	TION FOR ALTERNATIVE MIN-2
1953	1953	IMUM TAX MADE PERMANENT 3
1954	1954	SEC. 201. INCREASED EXEMPTION FOR INDIVIDUALS. 4
1955	1955	(a) I
1956	1956	NGENERAL.—Section 55(d)(1) is amended— 5
1957	1957	(1) by striking ‘‘$78,750’’ in subparagraph (A) 6
1958	1958	and inserting ‘‘$109,400’’, and 7
1959	1959	(2) by striking ‘‘$50,600’’ in subparagraph (B) 8
1960	1960	and inserting ‘‘$70,300’’. 9
1961	1961	(b) P
1962	1962	HASE-OUT OFEXEMPTIONAMOUNT.—Section 10
1963	1963	55(d)(2) is amended— 11
1964	1964	(1) by striking ‘‘$150,000’’ in subparagraph 12
1965	1965	(A) and inserting ‘‘$1,000,000’’, and 13
1966	1966	(2) by striking subparagraphs (B) and (C) and 14
1967	1967	by inserting the following new subparagraphs: 15
1968	1968	‘‘(B) 50 percent of the dollar amount ap-16
1969	1969	plicable under subparagraph (A) in the case of 17
1970	1970	a taxpayer described in paragraph (1)(B) or 18
1971	1971	(1)(C), and 19
1972	1972	‘‘(C) $75,000 in the case of a taxpayer de-20
1973	1973	scribed in paragraph (1)(D).’’. 21
1974	1974	(c) I
1975	1975	NFLATIONADJUSTMENT.—Section 55(d)(3) is 22
1976	1976	amended to read as follows: 23
1977	1977	‘‘(3) I
1978	1978	NFLATION ADJUSTMENT .—Each dollar 24
1979	1979	amount described in clause (i) or (ii) of subpara-25
1980	1980	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00064 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
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1982	1982	•HR 137 IH
1983	1983	graph (B) shall be increased by an amount equal 1
1984	1984	to— 2
1985	1985	‘‘(A) such dollar amount, multiplied by 3
1986	1986	‘‘(B) the cost-of-living adjustment deter-4
1987	1987	mined under section 1(f)(3) for the calendar 5
1988	1988	year in which the taxable year begins, deter-6
1989	1989	mined by substituting— 7
1990	1990	‘‘(i) in the case of a dollar amount 8
1991	1991	contained in paragraph (1)(D) or (2)(C) or 9
1992	1992	in subsection (b)(1)(A), ‘calendar year 10
1993	1993	2011’ for ‘calendar year 2016’ in subpara-11
1994	1994	graph (A)(ii) thereof, and 12
1995	1995	‘‘(ii) in the case of a dollar amount 13
1996	1996	contained in paragraph (1)(A), (1)(B), or 14
1997	1997	(2)(A), ‘calendar year 2017’ for ‘calendar 15
1998	1998	year 2016’ in subparagraph (A)(ii) thereof. 16
1999	1999	Any increased amount determined under this para-17
2000	2000	graph shall be rounded to the nearest multiple of 18
2001	2001	$100 ($50 in the case of the dollar amount con-19
2002	2002	tained in paragraph (2)(C)).’’. 20
2003	2003	(d) R
2004	2004	EPEAL OFCOORDINATIONWITHRULESRELAT-21
2005	2005	ING TO THETAXATION OFUNEARNEDCHILDREN.—Sec-22
2006	2006	tion 59 is amended by striking subsection (j). 23
2007	2007	(e) C
2008	2008	ONFORMINGAMENDMENT.—Section 55(d) is 24
2009	2009	amended by striking paragraph (4). 25
2010	2010	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00065 Fmt 6652 Sfmt 6201 E:\BILLS\H137.IH H137
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2012	2012	•HR 137 IH
2013	2013	(f) EFFECTIVEDATE.—The amendments made by 1
2014	2014	this section shall apply to taxable years beginning after 2
2015	2015	the date of the enactment of this Act. 3
2016	2016	Æ
2017	2017	VerDate Sep 11 2014 06:07 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00066 Fmt 6652 Sfmt 6301 E:\BILLS\H137.IH H137
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