Congresswoman Claudia Tenney Votes in Favor of Tax 2.0 Package, Making Individual Tax Rates Permanent

Press Release

Congresswoman Claudia Tenney (NY-22) voted in favor of H.R. 6756 - American Innovation Act, H.R. 6757 - Family Savings Act and H.R. 6760 - Protecting Family and Small Business Tax Cuts Act. These three bills make up the Tax Reform 2.0 package that locks in the historic reforms of the Tax Cuts & Jobs Act to protect middle-class and small business tax cuts, promote family savings, and continue to unleash our economy. This legislation has been supported by National Federation of Independent Business, Tax Foundation, Americans for Tax Reform, Associated Builders and Contractors, National Taxpayers Union and the Tax Foundation.
"Tax 2.0 is our commitment to all American's to ensure the benefits they received from the tax cuts become permanent and our tax code remains the most competitive in the world. As I meet with business owners, families and small farmers across the 22nd District, it is clear that tax reform is working and providing the critical relief they need to grow. The typical family of four in the 22nd District is saving more than $2,400 per year. Our national economy is on the rise and our local economy is continuing on a positive, upward trajectory. Making the tax cuts permanent will ensure our small businesses and economy continue on the path to prosperity and our families continue to have increased opportunities to plan for the future," said Rep. Tenney.
As of now, the Tax Cuts and Job's Act for individuals are set to expire in 2025, but the Tax 2.0 package would make permanent many key temporary provisions of the law including:
Permanently lower individual income tax rates and thresholds.
The Tax Cuts improves Medicare solvency and pushes the insolvency date back from 2025 to 2026.
Lock in the new standard deduction, which increased to $12,000 per individual and $24,000 for a married couple
Permanently doubled child tax credit to $2,000 per child and higher phase-out threshold.
Permanent $10,000 cap on the state and local deduction (SALT) and $750,000 cap on the mortgage interest deduction for new mortgages. Permanent repeal of the phase-out of itemized deductions and other smaller miscellaneous individual itemized deductions.
The package also contains measures dealing with retirement savings and aimed at helping startups.

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