Middle Class Tax Cut Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7303 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7303 To amend the Internal Revenue Code of 1986 to reform the individual income tax rates. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 30, 2026 Mr. Thanedar introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to reform the individual income tax rates. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Middle Class Tax Cut Act''. SEC. 2. INCREASED STANDARD DEDUCTION. (a) In General.--Section 63(c)(2) of the Internal Revenue Code of 1986 is amended-- (1) in subparagraph (B), by striking ``$4,400'' and inserting ``$75,000'', and (2) in subparagraph (C), by striking ``$3,000'' and inserting ``$50,000''. (b) Conforming Amendments.--Section 63(c)(4) of such Code is amended-- (1) by inserting ``(2026 in the case of the dollar amounts contained in subparagraph (B) or (C) of paragraph (2))'' after ``1988'', and (2) in subparagraph (B)-- (A) in clause (i)-- (i) by striking ``paragraph (2)(B), (2)(C), or (5)(A)'' and inserting ``paragraph (5)(A)'', and (ii) by striking ``and'' at the end, (B) in clause (ii), by striking the period at the end and inserting ``, and'', and (C) by adding at the end the following new clause: ``(i) `calendar year 2025' in the case of the dollar amounts contained in subparagraph (B) or (C) of paragraph (2).''. (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2025. SEC. 3. INDIVIDUAL INCOME TAX RATE REFORM. (a) Joint Returns and Surviving Spouses.--Section 1(a) of the Internal Revenue Code of 1986 is