Nov. 1, 2024
Congress is teeing up consideration of tax policy next year as most provisions of Tax Cuts and Jobs Act (TCJA) are set to expire at the end of 2025. Federal legislators will debate policy such as child tax credit, business-related tax provisions, standard deduction rates and affordable housing, among other topics as they look to extend certain provisions of TCJA as well as looking at new tax policy to include in any comprehensive tax legislation. To help state legislators understand provisions under consideration, we will provide a broad “101” overview of potential tax policy and highlight basic impacts on states and NCSL advocacy activity.