Search Results: keywords:"income threshold"

  • H. R. 8094 — To amend title XIX of the Social Security Act to modify certain asset recovery rules.
    Status:Introduced in House
    Words:189

    H. R. 8094 aims to change the rules about asset recovery under title XIX of the Social Security Act. The bill proposes that after a person's death, their home could be transferred to another person who is eligible for medical assistance or earns less than 138% of the Federal poverty level, at...

    Simple Explanation

    H. R. 8094 talks about changing a rule so that when someone who gets help from the government for health care (like Medicaid) dies, their house might not have to be sold to pay the government back. Instead, if the state wants, the house could go to a person who also needs medical help or doesn't earn a lot of money.

  • S. 3523 — To end unemployment payments to jobless millionaires.
    💰
    Status:Introduced in Senate
    Words:288

    S. 3523 seeks to end unemployment payments to individuals with an adjusted gross income of $1,000,000 or more. Introduced by Senator Ernst and co-sponsored by Senators Tester and Braun, the bill prohibits the use of federal funds for unemployment compensation to wealthy...

    Simple Explanation

    S. 3523 wants to stop giving money to really rich people who lose their jobs, so they can save that money for people who need it more. This means if someone makes $1,000,000 or more a year, they won't get this help when they're not working.

  • H. R. 7084 — To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of social security benefits, and for other purposes.
    💰
    Status:Introduced in House
    Words:3,821

    H.R. 7084, also known as the "You Earned It, You Keep It Act," aims to change how Social Security benefits are taxed and calculated. The bill proposes repealing the tax on Social Security benefits and adjusting how wages and self-employment income above certain limits are considered for...

    Simple Explanation

    H.R. 7084 is a law proposal that wants to stop taxes on money from Social Security and change some rules, so people get to keep more of their money when they earn a lot. It also tries to make sure people on special programs like Medicaid and SSI don't get hurt by these changes.

  • H. R. 6779 — To end unemployment payments to jobless millionaires.
    💰
    Status:Introduced in House
    Words:273

    H. R. 6779 aims to stop unemployment payments from being given to individuals who have a yearly income of $1,000,000 or more. Under this bill, any application for unemployment must include a certification process where applicants confirm they do not have an income over this...

    Simple Explanation

    H. R. 6779 wants to stop giving unemployment money to people who make a million dollars a year or more, and it will check to make sure they're telling the truth about how much money they have.

  • H. R. 10277 — To amend the Internal Revenue Code of 1986 to establish a deduction for certain amounts paid for rent for a primary residence.
    💰
    Status:Introduced in House
    Words:785

    H.R. 10277, also known as the “Tax Relief for Renters Act of 2024,” proposes changes to the Internal Revenue Code of 1986 to allow taxpayers to deduct certain rent expenses for their primary residence from their taxable income. The bill specifies that individuals can deduct...

    Simple Explanation

    The Tax Relief for Renters Act of 2024 is like a new rule that says people can pay a little less in taxes if they spend money on renting their home, but only if they don't make too much money. This new rule would let people save some money when they pay their taxes by using money they spent on rent, starting after the end of 2024.

  • S. 5163 — To amend the Internal Revenue Code of 1986 to provide an income tax credit for eldercare expenses.
    💰
    Status:Introduced in Senate
    Words:1,555

    S. 5163 proposes amendments to the Internal Revenue Code to offer an income tax credit for expenses related to eldercare. The bill introduces a credit that covers 20% of eligible eldercare expenses, up to a maximum of $6,000 annually, with reductions based on income levels....

    Simple Explanation

    S. 5163 is a proposal to help people get some money back on their taxes when they pay for taking care of elders, like grandparents, who need help with daily tasks. It suggests giving back 20% of what they spend, but not more than $1,200 a year, and has some rules about who can get this help based on their income and the elder's living situation.

  • H. R. 7165 — To amend the Internal Revenue Code of 1986 to provide a tax credit for working family caregivers.
    💰
    Status:Introduced in House
    Words:2,039

    The H.R. 7165, also known as the "Credit for Caring Act of 2024," proposes to amend the Internal Revenue Code to offer a tax credit to working family caregivers. It allows caregivers to claim a tax credit equal to 30% of qualified caregiving expenses that exceed $2,000, with...

    Simple Explanation

    The "Credit for Caring Act of 2024" is a plan to help families who take care of loved ones at home by giving them some money back on their taxes. It lets them get back part of the money they spend on caring, but they need to keep good records and might find it tricky to figure out the exact amount.