H.R. 320: Make Marriage Great Again Act of 2025
This bill, titled the "Make Marriage Great Again Act of 2025," proposes changes to the Internal Revenue Code concerning the taxation of married couples. The key provisions of the bill can be summarized as follows:
Elimination of the Marriage Penalty
The primary aim of the bill is to remove the so-called "marriage penalty" in income tax rate brackets. The marriage penalty occurs when married couples end up paying more in taxes compared to two single individuals earning the same combined income. This bill seeks to adjust the income brackets so that married couples are taxed more favorably.
Key Changes Proposed:
- The bill modifies the income tax rate brackets for married individuals by doubling the dollar amounts used in the existing brackets.
- The adjustments mean that married couples will be able to earn twice as much income before hitting the higher tax rates compared to single individuals.
- The changes apply to tax years beginning after December 31, 2024.
- Specifically, provisions of the tax code that currently limit the benefits for married couples will no longer apply.
Effective Date
The amendments suggested by this bill will take effect for tax years starting after December 31, 2024. This means couples will not see the benefits until they file their taxes for the year 2025 and beyond.
Impact on Taxpayers
The removal of the marriage penalty is expected to affect the tax liabilities of married couples significantly. Couples who previously faced higher tax burdens due to the marriage penalty could see reductions in their tax bills due to the newly defined brackets.
Relevant Companies
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Sponsors
1 sponsor
Actions
2 actions
| Date | Action |
|---|---|
| Jan. 09, 2025 | Introduced in House |
| Jan. 09, 2025 | Referred to the House Committee on Ways and Means. |
Corporate Lobbying
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