This bill would increase the standard tax deduction for individual taxpayers in 2026 and 2027 as a way to offset the financial impact of tariffs on consumers. Married couples filing jointly and surviving spouses would receive an additional $4,000 deduction, heads of household would get $3,000, and all other filers would receive $2,000. The changes apply only to tax years 2026 and 2027, after which the standard deduction would return to normal levels. By raising the standard deduction, the bill would reduce the taxable income of most Americans, effectively lowering their federal income taxes during this two-year period to help them cope with higher prices from tariffs.