What Trump said and what congress

By: Old Hickory Trojan

is doing when it comes to deductions....House on left Trump on right....



Standard deduction/personal exemptions

  • Increased standard deduction of $12,000 for singles, $18,000 for singles with children, & $24,000 for couples filing jointly (indexed to inflation)

  • Eliminates personal exemptions

  • Increased standard deduction of $25,000/$50,000

  • Retains existing personal exemptions, but steepens curve on Pers

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