On the House Ways and Means Committee website, I want to understand the proposed changes to federal income tax rates under the '2025 Reconciliation' plan. Specifically, find the 'Extension of modification of rates' provision within the 'Section By Section' fact sheet. State the current federal income tax law's expiration date for these rates and describe how this provision proposes to change them.
Navigate to the '2025 Reconciliation' section. Click on the 'Fact Sheets' link. Click on the 'Section By Section' fact sheet link. Locate the 'Sec. 110001. Extension of modification of rates' details. Extract the expiration date from the 'Current Law' description. Extract the changes proposed by the 'Provision' description.
Successfully navigates to the 'Section By Section' fact sheet. States that under 'Current Law', the modified federal income tax bracket schedule and lower tax rates are set to expire after December 31, 2025. States that the 'Provision' makes permanent the modified federal income tax bracket schedule and lower tax rates created by the *Tax Cuts and Jobs Act*. Mentions that the 'Provision' also adds an additional year of inflation adjustment to all brackets except for the top bracket (37 percent).