Provision
Details
Impact
Permanent Increase of Estate and Lifetime Gift Tax Exemption
$15 million (single), $30 million (joint), beginning in 2026
Prevents a sharp reduction in the exemption, permanently extends historically high exemption levels
Expansion of Deduction for Charitable Contributions for Non-Itemizers
$1,000 (single), $2,000 (joint) for cash gifts
Boost charitable giving among non-itemizers by expanding deduction eligibility
Permanent Increase in Standard Deduction
$15,750 (single), $23,500 (heads of household), $31,500 (joint)
Fewer itemizers, more use of universal deduction
New Floor on Deduction for Charitable Contributions by Itemizers
Only gifts greater than 0.5% of contribution base
Reduces benefit for small gifts
New Floor on Deduction for Charitable Contributions by Corporations
Only gifts greater than 1% of taxable income deductible, creates deductibility window
Narrows deduction window
Cap on Deduction Value for High-Income Taxpayers
35% effective rate cap on itemized deductions
Less incentive for large donors
Permanent AGI Limit for Cash Gifts
60% of AGI
Expansion of private and alternative educational options