Working Families Tax Cut Act
3/27/2025, 3:23 AMSummary of Bill HR 1833
Bill 119 HR 1833, also known as the Guaranteed Deduction Act, aims to make changes to the Internal Revenue Code of 1986. The main provision of this bill is to rename the standard deduction to the guaranteed deduction. Additionally, the bill proposes to add a bonus amount to the guaranteed deduction for taxable years 2026 and 2027.The guaranteed deduction is a key component of the tax code that allows taxpayers to reduce their taxable income by a set amount, regardless of their individual circumstances. By renaming it, the bill seeks to emphasize the reliability and certainty of this deduction for taxpayers.
The bonus amount that would be added to the guaranteed deduction for the years 2026 and 2027 is intended to provide additional tax relief for individuals during those specific years. This bonus amount would further reduce taxable income for eligible taxpayers, potentially resulting in lower tax liabilities. Overall, the Guaranteed Deduction Act aims to simplify the tax code and provide additional tax relief for individuals in the specified years. It will be important to monitor the progress of this bill as it moves through the legislative process to see if it ultimately becomes law.
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Current Status of Bill HR 1833
Bill HR 1833 is currently in the status of Bill Introduced since March 4, 2025. Bill HR 1833 was introduced during Congress 119 and was introduced to the House on March 4, 2025. Bill HR 1833's most recent activity was Referred to the House Committee on Ways and Means. as of March 4, 2025Bipartisan Support of Bill HR 1833
Total Number of Sponsors
2Democrat Sponsors
0Republican Sponsors
2Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1833
Primary Policy Focus
Alternate Title(s) of Bill HR 1833
To amend the Internal Revenue Code of 1986 to rename the standard deduction the guaranteed deduction, and to add a bonus amount to the guaranteed deduction for taxable years 2026 and 2027.To amend the Internal Revenue Code of 1986 to rename the standard deduction the guaranteed deduction, and to add a bonus amount to the guaranteed deduction for taxable years 2026 and 2027.Comments
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Sponsors and Cosponsors of HR 1833
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