H.R. 1 · 115th Congress · enacted

An act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.

Became Public Law No: 115-97.

Latest official action 2017-12-22 · Enacted

The bill, briefly

(This measure has not been amended since it was reported to the House on November 13, 2017. The summary of that version is repeated here.) Tax Cuts and Jobs Act This bill amends the Internal Revenue Code (IRC) to reduce tax rates and modify policies, credits, and deductions for individuals and businesses. TITLE I--TAX REFORM FOR INDIVIDUALS Subtitle A--Simplification and Reform of Rates, Standard Deduction, and Exemptions (Sec. 1001) This section replaces the seven existing tax brackets (10%, 15%, 25%, 28%, 33%, 35%, and 39.6%) with four brackets (12%, 25%, 35%, and 39.6%) and specifies the income levels that apply for each bracket. Under the bill, most of the income that is currently included in the 10% and 15% brackets is taxed at 12%, and most of the income currently included in the 25% and 28% brackets is taxed at 25%. The bill also raises the threshold for income that is taxed at the 39.6% rate. The bill imposes an additional tax on taxpayers with adjusted gross income that exceeds $1 million ($1.2 million for married taxpayers filing jointly) by phasing out the benefit of the 12% tax bracket, as measured against the 39.6% bracket. The bill also: (1) modifies the taxation of the unearned income of children, and (2) requires the chained Consumer Price Index to be used to index the brackets for inflation. (Sec. 1002) This section increases the standard deduction to $24,400 f…

Official bill, text and votes Full source record and risk review

Congressional Research Service · 2017-11-16

Who reported lobbying on this bill?

Amount spent specifically on this bill: not disclosed

The reports below name this bill and disclose an organization’s overall lobbying expenses or a firm’s client income for the period. They can cover many bills and issues. These amounts are not payments to the bill or its politicians.

No matching lobbying report is imported yet. This is not evidence that no lobbying occurred.

2,409 latest lobbying reports imported. Some source imports are still in progress.

Politicians behind the bill

Sponsors and cosponsors from the official source, limited to members currently in office. Campaign amounts are cycle-wide and are not payments for this bill.

Cosponsor

Vern Buchanan

House · FL District 16 · Republican

$537,704PAC receipts · 2025–2026

Cosponsor

Adrian Smith

House · NE District 3 · Republican

$1,398,745PAC receipts · 2025–2026

Cosponsor

Mike Kelly

House · PA District 16 · Republican

$951,468PAC receipts · 2025–2026

Cosponsor

Jason Smith

House · MO District 8 · Republican

$2,957,774PAC receipts · 2025–2026

Cosponsor

David Schweikert

House · AZ District 1 · Republican

$523,250PAC receipts · 2025–2026

24 of 24 source cosponsor records retrieved; only current officials and unwithdrawn sponsorships appear.

PAC donors to the listed sponsors

These are all-cycle contributions to the listed sponsors’ and cosponsors’ campaigns. FEC does not attribute them to this bill. A donation plus sponsorship does not establish why a politician acted.

AMERICAN BANKERS ASSOCIATION PAC (BANKPAC)$40,000

Vern Buchanan · Cosponsor · $5,000

Adrian Smith · Cosponsor · $10,000

Mike Kelly · Cosponsor · $10,000

Jason Smith · Cosponsor · $10,000

David Schweikert · Cosponsor · $5,000

The bill, briefly

Who reported lobbying on this bill?

Politicians behind the bill

Vern Buchanan

Adrian Smith

Mike Kelly

Jason Smith

David Schweikert

PAC donors to the listed sponsors

What happened after enactment?