Search Results: keywords:"federal revenue"

  • H. J. RES. 14 — Proposing an amendment to the Constitution of the United States to repeal the sixteenth article of amendment.
    Status:Introduced in House
    Words:292

    H. J. RES. 14 is a proposed amendment to the U.S. Constitution that seeks to repeal the Sixteenth Amendment, which currently allows Congress to collect income taxes. If ratified by three-fourths of the state legislatures within seven years, Congress would no longer have the...

    Simple Explanation

    H. J. RES. 14 wants to change the rules so that the U.S. government can't collect taxes on money people earn, except if there's a war. This might make it hard for the government to pay for stuff it usually does.

  • H. R. 9614 — To amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent.
    Status:Introduced in House
    Words:353

    The bill, H.R. 9614, titled the “Ensuring Nationwide Access to a Better Life Experience Act” or the “ENABLE Act,” aims to make certain provisions for ABLE (Achieving a Better Life Experience) programs permanent under the Internal Revenue Code. It seeks to remove the...

    Simple Explanation

    The bill wants to let people keep putting more money in special savings accounts for people with disabilities without any end date, and it also lets them move money from certain college savings accounts into these special accounts. This means saving and planning for the future would be easier for them.

  • H. R. 6774 — To amend the Internal Revenue Code of 1986 to establish special rules relating to which professional sports leagues qualify to be exempt from taxation.
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    Status:Introduced in House
    Words:311

    H.R. 6774 proposes changes to the Internal Revenue Code of 1986, specifically targeting professional sports leagues. The bill aims to apply new rules so that professional sports organizations with annual gross receipts over $1 billion, and involved in activities like managing league business,...

    Simple Explanation

    Congress is thinking about changing the tax rules so that really big sports leagues, the ones making lots of money, might have to start paying taxes too, especially if they make more than a billion dollars a year. This is like saying super-rich sports teams have to share more of their money with the country.

  • H. R. 7222 — To amend the Internal Revenue Code of 1986 to allow expenses for parents to be taken into account as medical expenses, and for other purposes.
    Status:Introduced in House
    Words:461

    H. R. 7222, known as the “Lowering Costs for Caregivers Act of 2023,” proposes changes to the Internal Revenue Code of 1986 to classify expenses for parents as medical expenses. This would allow individuals to use Health Savings Accounts, Flexible Spending and Health...

    Simple Explanation

    H. R. 7222 is a bill that wants to make it cheaper for people to take care of their parents by letting them use special savings accounts for health expenses, without having to pay extra taxes. This change would start after 2023.