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The larger standard deduction is not permanent. It is set to expire at the end of 2024. It isn't a coincidence that it expires after the current presidential term. Standard politics.

Actually, it expires Dec 31, 2025, not 2024. That said, it's aligned to give the President and Congress elected in 2024 almost a full year to pass an extension before the expiration. It could have been intially set for up to 10 years, I think, instead of the 7 that it actually was. So, the expiration date likely is not a coincidence.

AJ
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