The main purpose of this legislation, known as the Middle Class Tax Cut Act, is to reform individual income tax rates in the United States. The goal is to provide tax relief primarily to middle-class families and individuals by increasing the standard deduction and adjusting the income tax brackets. One of the key provisions of the Act is the significant increase in the standard deduction. For individuals, the standard deduction will rise from $4,400 to $75,000, and for married couples filing jointly, it will increase from $3,000 to $50,000.