Indexation of various income tax components was eliminated by the Tax Cuts and Jobs Act of 2017.

Question

Quizplus · Accepted Answer

The Tax Cuts and Jobs Act of 2017 did not eliminate the indexation of various income tax components; it continued to adjust tax brackets and other elements for inflation, but it changed the measure of inflation used for these adjustments from the Consumer Price Index for All Urban Consumers (CPI-U) to the Chained Consumer Price Index for All Urban Consumers (C-CPI-U).

Indexation of Various Income Tax Components Was Eliminated by the Tax