119-hr1130

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1130 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 1130

 To amend the Internal Revenue Code of 1986 to increase the additional 
 standard deduction for seniors.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 February 7, 2025

 Ms. Malliotakis (for herself, Mr. Panetta, and Mr. Carey) introduced 
 the following bill; which was referred to the Committee on Ways and 
 Means

_______________________________________________________________________

 A BILL

 To amend the Internal Revenue Code of 1986 to increase the additional 
 standard deduction for seniors.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Bonus Tax Relief for America's 
Seniors Act''.

SEC. 2. INCREASE IN ADDITIONAL STANDARD DEDUCTION FOR SENIORS.

    (a) In General.--

Section 63

    (f)

    (1) of the Internal Revenue Code of 
1986 is amended by striking ``$600'' and inserting ``$5,000''.

    (b) Inflation Adjustment.--

Section 63

    (f) of such Code is amended by 
adding at the end the following new paragraph:
 ``

    (5) Inflation adjustment.--
 ``
        (A) In general.--In the case of any taxable year 
 beginning after December 31, 2026, the $5,000 amount in 
 paragraph

    (1) shall be increased by an amount equal 
 to--
 ``
            (i) such dollar amount, multiplied by
 ``
            (ii) the cost-of-living adjustment 
 determined under 

section 1

    (f)

    (3) for the 
 calendar year in which the taxable year begins 
 by substituting `calendar year 2025' for 
 `calendar year 2016' in subparagraph
        (A)
            (ii) thereof.
 ``
        (B) Rounding.--If any increase determined under 
 subparagraph
        (A) is not a multiple of $50, such 
 increase shall be rounded to the next lowest multiple 
 of $50.
 ``
            (C) Cross reference.--For inflation adjustment of 
 additional amounts for blind, see subsection
            (c) (4) .''.
            (c) Conforming Amendments.--

    (1) Section 63
            (c) (4) of such Code is amended--
        (A) by striking ``or subsection

    (f) '' in the matter 
 preceding subparagraph
        (A) and inserting ``, or 
 paragraph

    (2) or

    (3) of subsection

    (f) ,'' and,
        (B) by striking ``or subsection

    (f) '' in 
 subparagraph
        (B)
            (i) and inserting ``, or paragraph

    (2) or

    (3) of subsection

    (f) ''.

    (2) Section 63

    (f)

    (3) of such Code is amended--
        (A) by striking ``paragraphs

    (1) and

    (2) '' and 
 inserting ``paragraph

    (2) '', and
        (B) by inserting ``blind'' after ``unmarried'' in 
 the heading thereof.
            (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2025.
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