Expiring 2025 tax provisions, standard deduction. If you are single, you get a $14,600 deduction. That goes away next year and that standard deduction goes to $8,300. Anyone see a problem? Married, you get a $29,200 deduction today. A year from now that's gone, you go to $16,600. Sure glad the President spent a bunch of time talking about how we were going to protect the middle class and make the economy continue to grow. (14:43–14:57)
CLAIM
Asserts that the standard deduction for married filers will decrease from $29,200 to $16,600 next year.
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