On the House Ways and Means Committee website, I'm looking for details about the proposed changes to federal income tax rates under the '2025 Reconciliation' plan. Specifically, I want to know when the current federal income tax rates expire and how the 'Extension of modification of rates' provision proposes to change them.
Navigate to the '2025 Reconciliation' section. Locate and click on the 'Fact Sheets' link. Find and click on the 'Section By Section' fact sheet. Within the 'Section By Section' document, locate the 'Sec. 110001. Extension of modification of rates' details. Extract the expiration date of the current federal income tax rates from the 'Current Law' description. Extract the proposed changes to the federal income tax rates from 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).