Enhanced deduction for certain self-employed individuals

(a) In general Section 164(f) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (3) Enhanced deduction for lower-income individuals In the case of an individual with an adjusted gross income of less than $400,000 for the taxable year, paragraph (1) shall be applied by substituting three quarters of the taxes imposed for one-half of the taxes imposed.. (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2024.