- Thanks to the tax cuts passed by the Republican House and Senate and signed into law by President Trump, millions of families are seeing lower taxes because of the doubling of the standard deduction.
- The Tax Cuts and Jobs Act nearly doubled the standard deduction from $6,300 to $12,000 for an individual and $12,600 to $24,000 for a family.
- Because of tax reform, the number of people taking the standard deduction will increase from 66 percent of taxpayers to 93 percent. These will result in dramatic simplification as families choose to no longer itemize deductions.
- The doubling of the standard deduction also results in dramatic tax reduction for the 105,055,150 million taxpayers that took the standard deduction before passage of tax reform, according to IRS SOI data from 2015 (the most recent year available).
- For instance, 2,057,890 families in Missouri, 2,396,920 families in Indiana, 7,381,270 families in Florida, and 2,076,930 families in Arizona benefit from the expansion of the standard deduction. Specific statewide data can be found in the chart below:
State Number of Filers
United States 104,180,520
Alabama 1,520,920
Alaska 281,390
Arizona 2,076,930
Arkansas 954,510
California 11,639,810
Colorado 1,764,070
Connecticut 1,032,700
Delaware 308,230
Florida 7,381,270
Georgia 2,977,270
Hawaii 487,460
Idaho 518,820
Illinois 4,231,140
Indiana 2,396,920
Iowa 1,024,420
Kansas 997,220
Kentucky 1,412,530
Louisiana 1,532,990
Maine 466,830
Maryland 1,604,370
Massachusetts 2,142,350
Michigan 3,463,240
Minnesota 1,777,460
Mississippi 953,720
Missouri 2,057,890
Montana 356,280
Nebraska 650,230
Nevada 1,013,060
New Hampshire 476,010
New Jersey 2,574,770
New Mexico 710,020
New York 6,285,820
North Carolina 3,160,340
North Dakota 300,820
Ohio 4,130,020
Oklahoma 1,246,880
Oregon 1,193,960
Pennsylvania 4,418,190
Rhode Island 354,070
South Carolina 1,575,650
South Dakota 344,070
Tennessee 2,383,180
Texas 9,284,760
Utah 816,410
Vermont 236,940
Virginia 2,449,420
Washington 2,393,070
West Virginia 648,040
Wisconsin 1,956,470
Wyoming 217,580