Tax Cuts and Jobs Act of 2017
GPTKB entity
Statements (74)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:United_States_federal_law
|
| gptkbp:affects |
gptkb:529_plans_(expanded_to_K-12_education)
gptkb:Section_179_expensing_(increased_limit) gptkb:corporate_AMT_(eliminated) gptkb:qualified_business_income_deduction_(Section_199A) gptkb:mortgage_interest_deduction gptkb:base_erosion_and_anti-abuse_tax_(BEAT) gptkb:foreign-derived_intangible_income_(FDII) gptkb:global_intangible_low-taxed_income_(GILTI) estate tax international taxation alternative minimum tax corporate alternative minimum tax expensing of capital investments pass-through businesses taxation of multinational corporations moving expense deduction (eliminated except for military) individual mandate penalty (repealed effective 2019) standard deduction (increased to $12,000 for individuals, $24,000 for married couples) alimony deduction (eliminated for divorces after 2018) bonus depreciation (increased to 100%) business interest deduction (limited) child tax credit (increased to $2,000 per child) corporate tax base broadening corporate tax rate (reduced from 35% to 21%) deduction for casualty and theft losses (limited) deduction for tax preparation fees (eliminated) estate tax exemption (doubled) miscellaneous itemized deductions (eliminated) net operating loss deduction (limited) pass-through business income (20% deduction) personal exemption (eliminated) repatriation of foreign earnings state and local tax deduction (capped at $10,000) interest deduction limitation (30% of EBITDA, later EBIT) deduction for unreimbursed employee expenses (eliminated) international tax system (moves to territorial system) deduction for moving expenses (eliminated except for military) mortgage interest deduction (limited to $750,000 of debt) |
| gptkbp:amendedBy |
gptkb:Internal_Revenue_Code
|
| gptkbp:debatedBy |
gptkb:115th_United_States_Congress
|
| gptkbp:enactedBy |
gptkb:United_States_Congress
|
| gptkbp:estimatedCost |
$1.5 trillion over 10 years
|
| gptkbp:HouseVote |
227-203
|
| gptkbp:improves |
gptkb:child_tax_credit
standard deduction |
| gptkbp:limitation |
state and local tax deduction
|
| gptkbp:opposedBy |
gptkb:Democratic_Party
|
| gptkbp:proposedBy |
gptkb:Republican_Party
|
| gptkbp:publicLawNumber |
gptkb:Public_Law_115-97
|
| gptkbp:purpose |
gptkb:tax_law
|
| gptkbp:reduces |
corporate tax rate
individual income tax rates |
| gptkbp:removes |
personal exemptions
|
| gptkbp:repealedBy |
individual mandate penalty
|
| gptkbp:SenateVote |
51-48
|
| gptkbp:shortName |
gptkb:TCJA
|
| gptkbp:signedBy |
gptkb:Donald_Trump
2017-12-22 |
| gptkbp:startDate |
2018-01-01
|
| gptkbp:bfsParent |
gptkb:115th_United_States_Congress
gptkb:Child_Tax_Credit gptkb:Foreign_Earned_Income_Exclusion gptkb:Gary_Cohn gptkb:Internal_Revenue_Code_of_1986 gptkb:Section_1031 gptkb:mortgage_interest_deduction gptkb:Arctic_National_Wildlife_Refuge gptkb:Donald_Trump_administration gptkb:Opportunity_Zones gptkb:Trump_administration gptkb:United_States_(2017-2021) |
| gptkbp:bfsLayer |
6
|
| https://www.w3.org/2000/01/rdf-schema#label |
Tax Cuts and Jobs Act of 2017
|