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January 1, 2026effective dateTax PolicyEconomyTax PolicyEconomy

TCJA tax cuts made permanent

Individual income tax rates, standard deduction ($15,750 single / $31,500 married), and related TCJA provisions made permanent. SALT deduction cap raised to $40,000 (phases out over $500,000 income). Estate tax exemption expanded to $15 million ($30 million for couples).