Section 1. Short title
This Act may be cited as the Middle Class Savings Act.
(a) In general
Section 1(j)(5)(B) of the Internal Revenue Code of 1986 is amended—
(1) by striking $77,200 in clause (i)(I) and inserting $103,350,
(2) by striking $51,700 in clause (i)(II) and inserting $69,200,
(3) by striking $479,000 in clause (ii)(I) and inserting $626,350,
(4) by striking $452,400 in clause (ii)(II) and inserting $591,600, and
(5) by striking $425,800 in clause (ii)(III) and inserting $591,600.
(b) Effective date
The amendments made by this Act shall apply with respect to taxable years beginning after December 31, 2024.