U.S. House Should Pass Budget Resolution This Week
- Feb 24, 2025
- 1 min read
Updated: Sep 29, 2025
Ryan Ellis February 24, 2025
This week, the U.S. House of Representatives will be voting on a budget resolution, which itself will create budget reconciliation instructions that allow the 2017 Tax Cuts and Jobs Act (TCJA) to be made permanent. This means avoiding the biggest middle class and Main Street tax increase in American history.
If the TCJA is not made permanent by the end of 2025, the following tax increases will occur automatically:
TCJA Brackets | "Do Nothing Congress" Tax Brackets |
10% | 10% |
12% | 15% |
22% | 25% |
24% | 28% |
32% | 33% |
35% | 36% |
37% | 39.6% |
In addition to the rate hikes, the following tax increases will also hit middle class families:
Child tax credit cut in half from $2000 to $1000 per child
Guaranteed deduction cut in half from $30,000 to $15,000 for a married couple
Alternative minimum tax (AMT) returns for 5 million-plus families
Main Street job creators will also face a series of tax hikes next year:
The tax rate at which successful Main Street businesses pay income tax will rise from 37% to 39.6%
Main Street employers will lose their 20 percent "qualified business income" (QBI) deduction
The "guaranteed deduction" for the death tax will be cut in half, from $14 million to $7 million
Congress will fail to restore full business expensing, research expensing, and parity in deducting business interest
Step one in stopping these tax hikes on families and job creators is to pass the House budget resolution this week. Without it, everyone who earns income in America will face a tax increase in just ten months.
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