TCJA Permanency Act

HR 137, the TCJA Permanency Act, makes permanent many tax provisions from the 2017 Tax Cuts and Jobs Act. It permanently increases the standard deduction for individual taxpayers, modifies income tax brackets, and makes permanent the child tax credit increase. The bill also permanently limits deductions for state and local taxes, mortgage interest, and miscellaneous itemized deductions. These changes affect most individual taxpayers who file federal income tax returns.