How Does It Work? How Does It Work? The top tax rate is scheduled to be increased to 39.6% after 2025 when the current Tax Cuts and Jobs Act is set to expire even if Congress doesnt pass the Presidents proposal. If Congress does pass the legislation to enact the higher proposed rate, which isnt assured, it would kick in for the 2022 tax year and most likely not be retroactively applied for the 2021 tax year. A New Set of Guidelines, Cautions and CaveatsThe bottom line?
The President forgot to set the term of the tax boost.
( z0 forget :ARG0 ( z1 person :ARG0-of ( z2 have-org-role :ARG2 ( z3 president ) ) ) :ARG1 ( z4 set :ARG0 z1 :ARG1 ( z5 term :duration-of ( z6 boost :ARG1 ( z7 tax ) ) ) ) )
(z0 / forget-01
    :ARG0 (z1 / person
              :ARG0-of (z2 / have-org-role-91
                           :ARG2 (z3 / president)))
    :ARG1 (z4 / set-02
              :ARG0 z1
              :ARG1 (z5 / term
                        :duration-of (z6 / boost-01
                                         :ARG1 (z7 / tax-01)))))
The President forgot to set the term of the tax boost .
z1 :ARG0-of z2
z2 :ARG2 z3
z0 :ARG0 z1
z0 :ARG1 z4
z4 :ARG0 z1
z4 :ARG1 z5
z6 :ARG1 z7
z5 :duration-of z6