H.R. 364, titled the “Territorial Tax Equity and Economic Growth Act of 2025”, aims to change certain rules in the U.S. tax code to support economic recovery in U.S. territories. It modifies the criteria for determining if someone is a bona fide resident of territories like...
Simple Explanation
H.R. 364 wants to change some tax rules to help places like Puerto Rico and Guam have more money for their communities. It focuses on where people live and how they make money to make sure these areas can grow and get better.