Income tax, state; increases standard deduction.

Income tax; standard deduction. Increasesthe standard deduction, starting with taxable year 2022, from $4,500to $9,000 for single filers and from $9,000 to $18,000 for married filers (one-half of such amount in the case of a married individualfiling a separate return). The increase would remain in effect fortaxable years 2026 and after, when, under current law, the standard deduction is scheduled to be reduced to $3,000 for single filersand to $6,000 for married filers.