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I
118TH CONGRESS
1ST SESSION H. R. 3270
To amend the Internal Revenue Code of 1986 to permanently increase the
standard deduction.
IN THE HOUSE OF REPRESENTATIVES
MAY 11, 2023
Mrs. STEEL (for herself, Mr. SMITH of Nebraska, Mr. KUSTOFF, Ms. VAN
DUYNE, Mr. WENSTRUP, Mr. FERGUSON, Mr. KELLY of Pennsylvania,
Mr. FEENSTRA, and Mrs. MILLER of West Virginia) introduced the fol-
lowing bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to permanently
increase the standard deduction.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Permanent Tax Cuts
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for American Families Act of 2023’’.
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SEC. 2. INCREASE IN STANDARD DEDUCTION MADE PERMA-
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NENT.
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(a) IN GENERAL.—Section 63(c)(2) of the Internal
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Revenue Code of 1986 is amended—
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(1) by striking ‘‘$4,400’’ in subparagraph (B)
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and inserting ‘‘$18,000’’, and
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(2) by striking ‘‘$3,000’’ in subparagraph (C)
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and inserting ‘‘$12,000’’.
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(b) INFLATION ADJUSTMENT.—Section 63(c)(4) of
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such Code is amended to read as follows:
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‘‘(4) ADJUSTMENTS FOR INFLATION.—
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‘‘(A) IN GENERAL.—Each dollar amount in
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paragraph (2)(B), (2)(C), or (5) or subsection
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(f) shall be increased by an amount equal to—
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‘‘(i) such dollar amount, multiplied by
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‘‘(ii) the cost-of-living adjustment de-
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termined under section 1(f)(3) for the cal-
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endar year in which the taxable year be-
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gins, determined by substituting for ‘2016’
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in subparagraph (A)(ii) thereof—
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‘‘(I) in the case of the dollar
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amounts
contained
in
paragraph
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(2)(B) or (2)(C), ‘2017’,
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‘‘(II) in the case of the dollar
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amounts
contained
in
paragraph
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(5)(A) or subsection (f), ‘1987’, and
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‘‘(III) in the case of the dollar
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amount
contained
in
paragraph
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(5)(B), ‘1997’.
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‘‘(B) ROUNDING.—If any increase under
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this clause is not a multiple of $50, such in-
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crease shall be rounded to the next lowest mul-
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tiple of $50.’’.
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(c) CONFORMING AMENDMENT.—Section 63(c) of
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such Code is amended by striking paragraph (7).
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(d) EFFECTIVE DATE.—The amendments made by
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this section shall apply to taxable years beginning after
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the date of the enactment of this Act.
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Æ
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