Search Results: keywords:"inflation indexing"

  • H. R. 1666 — To index the maximum value of Federal Pell Grants to inflation.
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    Status:Introduced in House
    Words:689

    H. R. 1666, titled the “Pell Grant Sustainability Act,” aims to adjust the maximum value of Federal Pell Grants according to inflation. The bill recognizes that the purchasing power of Pell Grants has decreased significantly since the 1970s. To address this, it proposes an...

    Simple Explanation

    H. R. 1666 wants to make sure money given to students called Pell Grants can keep buying the same amount of school stuff even when prices go up. It plans to change the amount of money each year so it's always just right, like making sure your piggy bank always has enough for your candy even if candy costs more later.

  • S. 798 — To amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss.
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    Status:Introduced in Senate
    Words:3,150

    S. 798 aims to change the Internal Revenue Code of 1986 by introducing a new method for calculating the gain or loss on certain assets. The bill proposes adjusting the basis of these assets using an indexed basis, taking inflation into account, before determining gains or...

    Simple Explanation

    The bill is like a new rulebook that tries to make sure people don't have to pay extra taxes just because prices go up over time. It changes how people figure out if they made money or lost money when selling things like stocks or digital money by adjusting for the price changes over the years.

  • H. R. 1857 — To amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss.
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    Status:Introduced in House
    Words:3,141

    The bill H. R. 1857 aims to amend the Internal Revenue Code to allow certain assets, such as stocks, digital assets, and tangible property, to be adjusted for inflation when calculating gains or losses. This adjustment applies only to assets held for more than three years and...

    Simple Explanation

    The bill wants to change the rules about how people pay taxes when they sell things like stocks or digital assets, by letting them adjust the price they paid for them to account for inflation, but only if they've owned them for more than three years. This means if something has become worth more just because of inflation, they might not have to pay as much in taxes when they sell it.