tax cuts and jobs act

The American Families and Jobs Act, a package of three new tax bills proposed by House Republicans, would, among other things, limit many recently enacted green energy tax credits, create a bonus standard deduction for individuals through 2025, and temporarily extend a number of business provisions from the Tax Cuts and Jobs Act (TCJA). These provisions include 100 percent expensing for equipment and research and development (R&D) investments through the end of 2025.