Search Results: keywords:"excise tax repeal"

  • H. R. 2424 — To amend the Internal Revenue Code of 1986 to repeal the excise tax on heavy trucks and trailers, and for other purposes.
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    Status:Introduced in House
    Words:1,416

    H.R. 2424 aims to change the Internal Revenue Code by removing the excise tax on heavy trucks and trailers. This tax, which is 12% of the cost, makes new trucks and trailers more expensive and discourages replacing older models with more environmentally friendly and safer...

    Simple Explanation

    H.R. 2424 is a proposal to stop charging an extra cost on new big trucks and trailers, making them cheaper, so people are more likely to buy newer and safer ones. However, this might mean there’s less money to fix roads unless they find a new way to pay for it.

  • H. R. 684 — To amend the Internal Revenue Code of 1986 to repeal the excise tax on repurchase of corporate stock.
    Status:Introduced in House
    Words:206

    In H. R. 684, the bill proposes to change the Internal Revenue Code of 1986 by removing the excise tax on the purchase of corporate stock by the corporation itself. This tax removal is intended to come into effect for taxable years starting after December 31, 2024. The bill...

    Simple Explanation

    In H. R. 684, the bill wants to stop taxing companies when they buy back their own stocks, starting in 2025, and it's being talked about by lawmakers to see if this is a good idea.

  • H. R. 7276 — To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services.
    Status:Introduced in House
    Words:510

    H.R. 7276 proposes to eliminate the excise tax on telephone and other communication services by amending the Internal Revenue Code of 1986. The bill is introduced by Mr. Connolly and Mr. Thompson of Pennsylvania and has been referred to the Committee on Ways and Means. The...

    Simple Explanation

    H.R. 7276 is a plan to get rid of an extra tax people pay when they use phones or other ways to talk to each other, making it cheaper to use these services.