I 
118TH CONGRESS 
1ST SESSION H. R. 3936 
To amend the Internal Revenue Code of 1986 to rename the standard deduc-
tion the guaranteed deduction, and to add a bonus amount to the 
guaranteed deduction for taxable years 2024 and 2025. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 9, 2023 
Mr. SMITH of Missouri introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to rename 
the standard deduction the guaranteed deduction, and 
to add a bonus amount to the guaranteed deduction 
for taxable years 2024 and 2025. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Tax Cuts for Working 
Families Act’’. 
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SEC. 2. STANDARD DEDUCTION RENAMED GUARANTEED 
DEDUCTION. 
(a) IN GENERAL.—Section 63 of the Internal Rev-
enue Code of 1986 is amended— 
(1) by striking ‘‘standard deduction’’ each place 
it appears and inserting ‘‘guaranteed deduction’’, 
and 
(2) in subsection (c)— 
(A) in the heading, by striking ‘‘STAND-
ARD DEDUCTION’’ and inserting ‘‘GUARANTEED 
DEDUCTION’’, 
(B) in the heading of paragraph (2), by 
striking ‘‘STANDARD DEDUCTION’’ and inserting 
‘‘GUARANTEED DEDUCTION’’, 
(C) in the heading of paragraph (3), by 
striking ‘‘STANDARD DEDUCTION’’ and inserting 
‘‘GUARANTEED DEDUCTION’’, 
(D) in the heading of paragraph (5), by 
striking ‘‘STANDARD DEDUCTION’’ and inserting 
‘‘GUARANTEED DEDUCTION’’, 
(E) in the heading of paragraph (6), by 
striking ‘‘STANDARD DEDUCTION’’ and inserting 
‘‘GUARANTEED DEDUCTION’’, and 
(F) in the heading of paragraph (7)(A), by 
striking ‘‘STANDARD DEDUCTION’’ and inserting 
‘‘GUARANTEED DEDUCTION’’. 
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(b) CONFORMING AMENDMENTS.— 
(1) Section 1(g)(4)(A) of such Code is amended 
by striking ‘‘standard deduction’’ and inserting 
‘‘guaranteed deduction’’. 
(2) Section 56(b)(1)(D) of such Code is amend-
ed— 
(A) in the heading, by striking ‘‘STAND-
ARD DEDUCTION’’ and inserting ‘‘GUARANTEED 
DEDUCTION’’, and 
(B) by striking ‘‘standard deduction’’ and 
inserting ‘‘guaranteed deduction’’. 
(3) Section 861(b) of such Code is amended by 
striking ‘‘standard deduction’’ and inserting ‘‘guar-
anteed deduction’’. 
(4) Section 862(b) of such Code is amended by 
striking ‘‘standard deduction’’ and inserting ‘‘guar-
anteed deduction’’. 
(5) Section 1398(c) of such Code is amended— 
(A) in the heading, by striking ‘‘STAND-
ARD DEDUCTION’’ and inserting ‘‘GUARANTEED 
DEDUCTION’’, 
(B) in the heading of paragraph (3), by 
striking ‘‘STANDARD DEDUCTION’’ and inserting 
‘‘GUARANTEED DEDUCTION’’, and 
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gins, determined by substituting ‘2023’ for 
‘2016’ in subparagraph (A)(ii) thereof. 
If any increase under this subparagraph is not 
a multiple of $50, such increase shall be round-
ed to the next lowest multiple of $50. 
‘‘(D) LIMITATION ON BONUS GUARANTEED 
DEDUCTION
BASED
ON
MODIFIED
ADJUSTED 
GROSS INCOME.— 
‘‘(i) IN GENERAL.—The bonus guar-
anteed deduction determined under sub-
paragraph (B) shall be reduced (but not 
below zero) by 5 percent of so much of the 
taxpayer’s modified adjusted gross income 
as exceeds the threshold amount. For pur-
poses of the preceding sentence, the term 
‘modified adjusted gross income’ means 
adjusted gross income increased by any 
amount excluded from gross income under 
section 911, 931, or 933. 
‘‘(ii) THRESHOLD AMOUNT.—For pur-
poses of clause (i), the threshold amount 
is— 
‘‘(I) $400,000 in the case of a 
joint return or a surviving spouse (as 
defined in section 2(a)), 
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‘‘(II) $300,000 in the case of a 
head of household, and 
‘‘(III) $200,000 in any other 
case.’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this subsection shall apply to taxable years beginning after 
December 31, 2023. 
Æ 
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