The 2017 Tax Cuts and Jobs Act (TCJA) made huge permanent cuts to corporate and business taxes while making temporary cuts to individual taxes to limit the bill’s expansionary effects on the deficit, which stands now at more than $36 trillion.

Now, with Republicans set to control both chambers of Congress and the White House, the party is poised to deliver the TCJA’s second act, locking in or extending what they couldn’t set in stone in 2017 due to the Senate’s budget reconciliation rules.

As former Speaker Paul Ryan (R-Wis.) noted last year, Republicans “made temporary [what] we thought we could get extended [and] we made permanent what we thought might not get extended that we wanted to stay permanent.”

Here’s a look at the big-ticket items from the more than two dozen tax laws that are expiring at the end of next year.

Individual tax rates are set to tick up

Several marginal income tax rates are set to increase in 2026 in what would be the most noticeable single aspect of the TCJA expirations.

Going up the income scale, people making between $11,000 and $45,000 per year will see their rates increase from 12 percent to 15 percent.

From there, people making up to $95,000 will have an increase from 22 percent to 25 percent; people making up to $182,000 will have an increase from 24 percent to 28 percent; people making up to $231,000 will get an increase from 32 percent to 33 percent; and people making more than $580,000 will get a bump from 37 percent to 39.6 percent.

The vast majority of Americans fall into the three lowest tax brackets or an even lower one of 0 percent, according to a 2015 analysis by the Tax Foundation, which looked at pre-TCJA tax rates.

These cuts added $1.2 trillion to the deficit through 2027, according to........

© The Hill