Tax Cuts and Jobs Act of 2017

E88596

United States federal statute tax reform law

The Tax Cuts and Jobs Act of 2017 is a major U.S. federal law that overhauled the tax code by cutting corporate tax rates, altering individual income tax brackets and deductions, and reshaping business taxation.

Aliases (2)

TCJA ×1
Trump tax cuts ×1

Statements (50)

Predicate	Object
instanceOf	United States federal statute → tax reform law →
amends	Internal Revenue Code of 1986 →
appliesToJurisdiction	United States federal government →
chamberInvolved	United States House of Representatives NERFINISHED → United States Senate →
changesAlternativeMinimumTax	yes →
changesChildTaxCredit	yes →
changesCorporateTaxSystem	yes →
changesEstateTaxExemption	yes →
changesIndividualIncomeTaxBrackets	yes →
changesItemizedDeductions	yes →
changesStandardDeduction	yes →
congressNumber	115th United States Congress →
corporateRateCutPermanent	yes →
corporateTaxRateAfter	21 percent →
corporateTaxRateBefore	35 percent →
country	United States →
dateSigned	2017-12-22 →
effectiveDate	2018-01-01 →
eliminatesPersonalExemptions	yes →
houseBillNumber	H.R.1 (115th Congress) →
includesDeemedRepatriationTax	yes →
individualMandatePenaltyEffectiveYearOfRepeal	2019 →
individualProvisionsExpireAfter	2025 →
introducesPassThroughDeduction	yes →
legislativeBody	United States Congress →
limitsStateAndLocalTaxDeduction	yes →
modifiesMortgageInterestDeduction	yes →
movesTowardTerritorialSystemForCorporations	yes →
nickName	Trump tax cuts →
oppositionPartyInCongress	Democratic Party →
partyOfPresidentDuringEnactment	Republican Party →
passThroughDeductionSection	Section 199A →
policyArea	economic policy → fiscal policy →
presidentDuringEnactment	Donald Trump →
primarySubject	business taxation → corporate tax → income tax → individual income tax → taxation →
publicLawNumber	Public Law 115-97 →
repealsIndividualMandatePenalty	yes →
shortName	TCJA →
signedBy	Donald Trump →
sponsorPartyInCongress	Republican Party →
stateAndLocalTaxDeductionCap	10000 USD →
temporaryIndividualTaxProvisions	yes →
yearEnacted	2017 →

Referenced by (4)

Subject (surface form when different)	Predicate
Tax Cuts and Jobs Act of 2017 ("Trump tax cuts") →	nickName
115th United States Congress →	notableLegislation
California v. Texas →	relatedLegislation
Tax Cuts and Jobs Act of 2017 ("TCJA") →	shortName