“Americans earning an annual amount higher than these marks will get a simpler tax code with four brackets – 0%, 10%, 20% and 25% – instead of the current seven. This new tax code eliminates the marriage penalty and the Alternative Minimum Tax (AMT) while providing the lowest tax rate since before World War II.”
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The Tax Cuts and Jobs Act (December 2017) retained seven individual brackets rather than the promised four, with rates of 10 to 37 percent instead of 0 to 25 percent, and it kept the individual Alternative Minimum Tax while raising its exemption to $70,300 ($109,400 joint) rather than eliminating it. The law did lower most rates and set married-joint bracket thresholds at double the single amounts in all but the top bracket, largely removing the bracket-level marriage penalty. As of tax year 2026, after the 2025 One Big Beautiful Bill Act made the structure permanent, seven brackets with a 37 percent top rate and the AMT remain in force.
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