Search Results for keywords:"internal revenue code"

Search Results: keywords:"internal revenue code"

H. R. 7306 — To amend the Internal Revenue Code of 1986 to include publication of written news articles as a tax-exempt purpose for organizations, and for other purposes.
February 09, 2024
Status:Introduced in House
Congress:118
Words:429
H.R. 7306, titled the “Saving Local News Act,” proposes amendments to the Internal Revenue Code of 1986 to recognize organizations that publish written news articles, including digital publications, as having a tax-exempt purpose under section 501(c)(3). This change means that advertising...
Simple Explanation
H.R. 7306 is a new idea to let groups that write news stories, including online ones, not have to pay certain taxes, just like charities. This could help these groups save money, especially from ads, but it also needs careful rules to stop people from misusing it.
H. R. 8175 — To amend the Internal Revenue Code of 1986 to prohibit 501(c)(4) entities from using more than 10 percent of total expenditures on certain political expenditures, and for other purposes.
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April 30, 2024
Status:Introduced in House
Congress:118
Words:2,275
H.R. 8175, titled the “Crack Down on Dark Money Act,” aims to change the Internal Revenue Code to limit how much 501(c)(4) social welfare organizations can spend on political activities. Specifically, it would prevent these organizations from using more than 10% of their total expenditures on...
Simple Explanation
H.R. 8175 is a plan to make sure certain organizations that are supposed to focus on helping others don't spend too much money on politics. It also wants these organizations to let us know who their big-money helpers are if they're using the money for political stuff.
S. 4874 — To amend the Internal Revenue Code of 1986 to expand the employer-provided child care credit and the dependent care assistance exclusion.
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July 31, 2024
Status:Introduced in Senate
Congress:118
Words:2,980
The bill, titled the "Child Care Availability and Affordability Act," proposes amendments to the Internal Revenue Code to make child care more affordable for working parents. It increases the employer-provided child care credit from 25% to 50% and raises the maximum credit amount from...
Simple Explanation
The Child Care Availability and Affordability Act is a plan to help parents have more money for child care by giving bigger tax breaks to businesses that help with child care and making it less expensive for families to pay for someone to take care of their kids while they work.
H. R. 7694 — To amend the Internal Revenue Code of 1986 to limit the use of artificial intelligence at the Internal Revenue Service and to require tax investigations and examinations of taxpayers to be initiated by staff investigators.
March 15, 2024
Status:Introduced in House
Congress:118
Words:573
H.R. 7694, also known as the "No AI Audits Act," aims to restrict the use of artificial intelligence (AI) in the Internal Revenue Service (IRS) for audits and investigations. The bill proposes that any AI-based methods used by the IRS must be transparent and explainable,...
Simple Explanation
The "No AI Audits Act" is a bill that says people at the IRS must start tax check-ups, not computers, and any computer help has to be clear about how it works.
H. R. 9461 — To amend the Internal Revenue Code of 1986 to allow a credit against tax for charitable donations to nonprofit organizations providing workforce training.
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September 06, 2024
Status:Introduced in House
Congress:118
Words:1,447
H.R. 9461 proposes changes to the Internal Revenue Code of 1986 to offer a tax credit for individuals who donate to nonprofit organizations that provide workforce development and apprenticeship training programs. The bill outlines the conditions for receiving this tax credit, including limits...
Simple Explanation
H.R. 9461 is a plan to let people get a special tax break if they give money to certain groups that help people learn job skills. It’s like saying, “Thank you for helping others learn to work,” and in return, the government asks them to pay a little less in taxes.
H. R. 9133 — To amend the Employee Retirement Income Security Act of 1974, title XXVII of the Public Health Service Act, and the Internal Revenue Code of 1986 to require group health plans and health insurance issuers offering group or individual health insurance coverage to provide for 3 primary care visits and 3 behavioral health care visits without application of any cost-sharing requirement.
July 25, 2024
Status:Introduced in House
Congress:118
Words:2,480
H.R. 9133 aims to amend several significant acts, including the Employee Retirement Income Security Act, the Public Health Service Act, and the Internal Revenue Code, to ensure better healthcare access for individuals. The bill mandates that group health plans and health...
Simple Explanation
Imagine a rule that says everyone with a special kind of health insurance can visit the doctor or a counselor three times a year without paying any money when they go. This bill tries to make that a real rule for everyone, so it's easier for people to get help when they’re sick or need to talk to someone.
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.
February 05, 2024
Status:Introduced in House
Congress:118
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.
S. 4255 — To modernize Federal firearms laws to account for advancements in technology and less-than-lethal weapons, and for other purposes.
May 02, 2024
Status:Introduced in Senate
Congress:118
Words:554
S. 4255 proposes updating federal firearms laws to include newer technology and less-than-lethal weapons, such as devices that do not project at high speeds and are not meant to cause serious injuries. The bill exempts these less-than-lethal projectile devices from certain...
Simple Explanation
S. 4255 is a bill that wants to change some rules about guns to include new inventions like less-dangerous gadgets, so they aren't treated the same way as regular guns. This means these new gadgets wouldn't have extra taxes and rules that real guns do.
H. R. 8820 — To amend the Internal Revenue Code of 1986 to provide an above-the-line deduction for long-term care insurance premiums and to reduce certain tax credits.
June 25, 2024
Status:Introduced in House
Congress:118
Words:869
H.R. 8820, titled the “Improving Access to Long-Term Care Insurance Act,” proposes changes to the Internal Revenue Code of 1986. It aims to allow taxpayers to deduct long-term care insurance premiums without needing to itemize their deductions and without these expenses...
Simple Explanation
H.R. 8820 is a plan to let people save money on their taxes by taking away the need to spend a lot before getting help to pay for long-term care insurance, like what helps the elderly or sick when they need extra care. But to make up for this, other ways people save on taxes, called credits, might be reduced.
H. R. 7693 — To amend the Internal Revenue Code of 1986 to treat distributions from health savings accounts for funeral expenses of the account beneficiary as qualified distributions.
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March 15, 2024
Status:Introduced in House
Congress:118
Words:534
H. R. 7693 proposes changes to the Internal Revenue Code of 1986 to allow health savings account (HSA) funds to be used for funeral expenses without tax penalties. The bill outlines what counts as funeral expenses, such as burial, cremation, or other related costs, with a...
Simple Explanation
H. R. 7693 is about letting people use money saved in their special health accounts to help pay for funerals when someone passes away, without having to pay extra taxes. There's a limit though: They can only use up to $5,000 for this, and they have to be careful to use it properly within a short time after the person has died.
S. 3620 — To amend the Internal Revenue Code of 1986 to impose a corporate tax rate increase on companies whose ratio of compensation of the CEO or other highest paid employee to median worker compensation is more than 50 to 1, and for other purposes.
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January 18, 2024
Status:Introduced in Senate
Congress:118
Words:986
The bill S. 3620, titled the "Tax Excessive CEO Pay Act of 2024," aims to amend the Internal Revenue Code to increase corporate taxes for companies where the pay ratio between the CEO (or the highest-paid employee) and the median worker exceeds 50 to 1. The tax penalty...
Simple Explanation
S. 3620 wants companies to pay more taxes if their boss's pay is really high compared to the pay of regular workers. If the boss’s pay is over 50 times more than the average worker, the company gets extra taxes as a punishment to make things fairer.
H. R. 8293 — To amend the Internal Revenue Code of 1986 to provide for the public reporting of data on certain contributions received by tax-exempt organizations from foreign sources, and for other purposes.
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December 17, 2024
Status:Reported in House
Congress:118
Words:1,541
H. R. 8293 aims to change the Internal Revenue Code to make data on contributions from foreign sources to U.S. tax-exempt organizations publicly available. The bill requires such organizations to report the total amount of foreign contributions they receive, breaking it down...
Simple Explanation
H. R. 8293 is a bill that wants to show how much money U.S. non-profit groups get from other countries while keeping the names of the people who give money private, but with some tricky rules about who can know this information.
S. 4924 — To amend the Internal Revenue Code of 1986 to modify the depreciation of nonresidential real property and residential rental property.
August 01, 2024
Status:Introduced in Senate
Congress:118
Words:995
The bill titled "Renewing Investment in American Workers and Supply Chains Act" proposes changes to how depreciation is handled for specific types of properties under the Internal Revenue Code. It seeks to set a 20-year recovery period for both nonresidential real property and residential...
Simple Explanation
The bill wants to change how businesses and landlords count the cost of their buildings for taxes, letting them say the buildings lose value over 20 years instead of a longer time. It also suggests a new way to figure out how costs change with the economy, to make the tax amount fairer without changing what the building is worth for taxes.
H. R. 9021 — To amend the Internal Revenue Code of 1986 to deny the deduction for advertising and promotional expenses for prescription drugs.
July 11, 2024
Status:Introduced in House
Congress:118
Words:519
H. R. 9021 proposes an amendment to the Internal Revenue Code of 1986 that would prevent companies from deducting expenses related to direct-to-consumer advertising of prescription drugs from their taxes. This means that businesses will no longer receive a tax break for money...
Simple Explanation
H. R. 9021 is a proposed rule that would stop drug companies from getting a tax discount for showing ads on TV or the internet to sell their medicines. This means they might spend less money on commercials, and people might see fewer ads about medicines.
H. R. 9281 — To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 with respect to minimum participation standards for pension plans and qualified trusts.
August 02, 2024
Status:Introduced in House
Congress:118
Words:1,041
H.R. 9281, known as the “Helping Young Americans Save for Retirement Act,” seeks to amend existing laws to allow younger workers to participate in pension plans earlier. It reduces the minimum age for participation from 21 to 18, provided certain conditions related to the length of service...
Simple Explanation
H.R. 9281 wants to let younger workers start saving for retirement sooner by lowering the age to join a pension plan from 21 to 18, as long as they meet certain job requirements. This change will help young people save more money for their future, starting in 2026.
H. R. 9081 — To provide for emergency tax relief for taxpayers affected by the severe storms, flooding, straight-line winds, and tornadoes in certain Iowa counties.
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July 22, 2024
Status:Introduced in House
Congress:118
Words:3,244
H. R. 9081 is a bill proposed in the 118th Congress to offer emergency tax relief to individuals impacted by severe storms, flooding, winds, and tornadoes in certain Iowa counties. It allows affected residents to make tax-favored withdrawals from their retirement plans,...
Simple Explanation
H. R. 9081 is a proposed bill that helps people in certain parts of Iowa affected by bad weather, like storms and tornadoes, by letting them use money from their piggy bank (retirement funds) without the usual extra costs and by making it easier for them to give money to help others.
H. R. 8941 — To amend the Internal Revenue Code of 1986 to eliminate the application of the income tax on cash tips through a deduction allowed to all individual taxpayers.
July 08, 2024
Status:Introduced in House
Congress:118
Words:663
H.R. 8941, known as the "No Tax on Tips Act," aims to change the Internal Revenue Code of 1986 to allow a tax deduction for cash tips. Under this bill, individuals would be able to deduct the full amount of cash tips they report to their employers from their taxable income....
Simple Explanation
H.R. 8941 wants to let people who get cash tips, like waiters or delivery people, not pay extra taxes on those tips, so they can keep more of their money. This change would start after the year 2024, and everyone can use this rule, whether they use special tax forms or not.
H. R. 8289 — An Act To extend authorizations for the airport improvement program, to extend the funding and expenditure authority of the Airport and Airway Trust Fund, and for other purposes.
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May 08, 2024
Status:Received in Senate
Congress:118
Words:1,209
H.R. 8289 is a bill that aims to extend the authorizations for the airport improvement program and adjust the funding and expenditure authority of the Airport and Airway Trust Fund. It modifies various sections of the United States Code to extend deadlines for funding, obligations, and tax...
Simple Explanation
H.R. 8289 is a plan to give airports more money to fix and improve themselves and to keep planes safe in the sky for a little bit longer than before. The plan has some changes that raise questions about why it's giving more money now, and some parts are tricky to understand because of the fancy words used.
H. R. 9361 — To amend the Internal Revenue Code of 1986 to repeal the upper age limit on eligibility for the earned income tax credit.
August 16, 2024
Status:Introduced in House
Congress:118
Words:222
H.R. 9361 is a proposed law aimed at changing the existing laws around the earned income tax credit (EITC) in the United States. Specifically, it seeks to remove the age cap, currently set at 65, which limits who can qualify for the EITC based on age. This means that...
Simple Explanation
H.R. 9361 is a plan to let people older than 65 qualify for a special money help called the earned income tax credit (EITC), starting from 2025. This means more older people could get extra money if they work and earn less.
H. R. 9831 — To amend the Internal Revenue Code of 1986 to exclude certain dependent income when calculating modified adjusted gross income for the purposes of eligibility for premium tax credits.
September 25, 2024
Status:Introduced in House
Congress:118
Words:860
The bill H.R. 9831, known as the “Dependent Income Exclusion Act of 2024,” aims to amend the Internal Revenue Code to adjust how dependent income is considered when calculating eligibility for premium tax credits. Specifically, it proposes excluding certain wages or...
Simple Explanation
The bill wants to change the rules so some money that kids and young people earn doesn't count when their family is checking if they can get a special kind of help to pay for health insurance. This means if young people earn money, it might not stop their family from getting help to pay for health insurance.
S. 5442 — To amend the Internal Revenue Code of 1986 to remove the differentiation between mead and low alcohol by volume wine for purposes of the tax imposed on wines.
December 05, 2024
Status:Introduced in Senate
Congress:118
Words:348
S. 5442, titled the “Bubble Tax Modernization Act of 2024,” aims to change how certain wines are taxed in the United States by altering the Internal Revenue Code of 1986. It removes the distinction between mead and low-alcohol-by-volume wines for taxation purposes. The bill...
Simple Explanation
S. 5442 is a plan to change the rules about how some drinks like mead and certain wines are taxed. It wants to treat those drinks the same way, starting from 2025.
S. 4809 — To amend the Internal Revenue Code of 1986 to allow a credit against income tax for equity investments by angel investors.
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July 25, 2024
Status:Introduced in Senate
Congress:118
Words:2,109
S. 4809 proposes changes to the Internal Revenue Code of 1986 to introduce a tax credit for angel investors who invest in small, high-tech businesses in the U.S. This bill allows qualified investors to receive a credit of 25% of their investment, capped at $250,000 per year....
Simple Explanation
The bill is about giving a special money-saving coupon, called a tax credit, to people who help new and small tech companies by giving them money, but there are rules about how much they can get, who can get it, and which companies can use it.
H. R. 9624 — To amend the Fair Labor Standards Act of 1938 to eliminate the separate minimum wage for tipped employees, and for other purposes.
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September 17, 2024
Status:Introduced in House
Congress:118
Words:1,122
H.R. 9624, titled the “Tipped Income Protection and Support Act” or “TIPS Act,” proposes changes to the Fair Labor Standards Act of 1938. It aims to eliminate the separate, lower minimum wage for tipped employees, ensuring they receive at least the standard federal minimum...
Simple Explanation
The TIPS Act says that people who get tips at work should be paid the same as everyone else, not less. It also helps them save some money on taxes for the cash tips they get, as long as their income isn't too high.
H. R. 10055 — To amend the Internal Revenue Code of 1986 to exclude from gross income any damages, other than punitive damages, received on account of any sexual acts or sexual contact.
October 25, 2024
Status:Introduced in House
Congress:118
Words:687
H.R. 10055, also known as the “Survivor Justice Tax Prevention Act,” proposes an amendment to the Internal Revenue Code of 1986. The bill aims to exclude from gross income any damages awarded, except for punitive damages, related to sexual acts or sexual contact. It specifies...
Simple Explanation
H.R. 10055 is like a new rule that says if someone gets money because something bad happened to them, like touching that wasn't okay, they don't have to pay extra money to the government, except when it's to punish someone. It also says people shouldn’t have to show a doctor’s note to prove it happened when figuring out taxes.
H. R. 7470 — To amend the Internal Revenue Code of 1986 to treat spaceports like airports for purposes of exempt facility bond rules.
February 28, 2024
Status:Introduced in House
Congress:118
Words:926
H.R. 7470 is a bill that aims to amend the Internal Revenue Code to treat spaceports similarly to airports concerning rules for exempt facility bonds. The bill defines a spaceport as a facility near a launch or reentry site that is used for various space-related activities,...
Simple Explanation
H.R. 7470 is a bill that wants to treat spaceports, where spaceships take off and land, just like airports when it comes to special money rules. This means that these spaceports can get some financial help without having to be open for everyone to use.
H. R. 8710 — To amend the Internal Revenue Code of 1986 to allow a deduction for amounts contributed to a 529 plan.
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June 12, 2024
Status:Introduced in House
Congress:118
Words:289
H.R. 8710 proposes a change to the Internal Revenue Code that would allow people to deduct up to $10,000 per year from their taxable income for contributions made to a 529 plan. A 529 plan is an investment account used to save for education expenses. The bill specifies that...
Simple Explanation
In this bill, Congress wants to let people pay less money in taxes if they save up to $10,000 a year for school by using a special savings account called a 529 plan, but only if they make $200,000 or less in a year.
H. R. 7293 — To amend the Internal Revenue Code of 1986 to provide rules for automatic contribution retirement plans and arrangements.
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February 07, 2024
Status:Introduced in House
Congress:118
Words:6,402
H.R. 7293, titled the "Automatic IRA Act of 2024," aims to amend the Internal Revenue Code to establish rules for automatic contribution retirement plans and arrangements. This bill mandates employers to offer automatic IRA arrangements that meet specific notice, eligibility, contribution,...
Simple Explanation
H.R. 7293 is about making it easier for people to save money for when they are older by having their jobs automatically put money into special savings accounts. It also wants to give small businesses some reward money to help with this, but they might face some money penalties if they don't follow the rules.
H. R. 8682 — To amend the Internal Revenue Code of 1986 to expand the exclusion for certain conservation subsidies to include subsidies for water conservation or efficiency measures, storm water management measures, and wastewater management measures.
June 11, 2024
Status:Introduced in House
Congress:118
Words:1,082
H.R. 8682, known as the "Water Conservation Rebate Tax Parity Act," proposes changes to the Internal Revenue Code of 1986 to expand tax exclusion benefits for certain conservation subsidies. The bill seeks to include subsidies given by public utilities or government entities...
Simple Explanation
The new bill is like giving a special treat to people who save water at home. It says that if the government or water companies give them money to help save water, they won't have to pay extra taxes on that money, just like they don't on money they get for saving energy!
S. 5144 — To amend the Internal Revenue Code of 1986 to provide a tax credit for investors in start-up businesses, to provide a credit for wages paid by start-up businesses to their first employees, and for other purposes.
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September 24, 2024
Status:Introduced in Senate
Congress:118
Words:6,477
The bill S. 5144, titled the “Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act,” seeks to amend the Internal Revenue Code of 1986. It introduces a tax credit for investors in small start-up businesses and provides a credit...
Simple Explanation
The PROGRESS Act is like a helping hand for new businesses and the people who invest in them. It gives money back to both businesses paying their first workers and people investing in new businesses to make it easier and cheaper for them to get started.
S. 4389 — To amend the Internal Revenue Code of 1986 to promote the increased use of renewable natural gas, to reduce greenhouse gas emissions and other harmful transportation-related emissions that contribute to poor air quality, and to increase job creation and economic opportunity throughout the United States.
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May 22, 2024
Status:Introduced in Senate
Congress:118
Words:1,633
The Renewable Natural Gas Incentive Act of 2024 aims to amend the Internal Revenue Code to encourage the use of renewable natural gas in the United States. It introduces a renewable natural gas fuel credit, providing financial incentives for producing and using renewable...
Simple Explanation
The Renewable Natural Gas Incentive Act of 2024 is a plan to encourage people in the U.S. to use more clean energy from natural gas that's better for the air and creates new jobs, by giving them a special money-back deal when they use this kind of gas in vehicles, boats, and planes.
S. 3673 — To amend the Internal Revenue Code of 1986 to impose a tax on the purchase of single-family homes by certain large investors, and for other purposes.
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January 25, 2024
Status:Introduced in Senate
Congress:118
Words:1,445
S. 3673 is called the "Affordable Housing and Homeownership Protection Act of 2024." It amends the Internal Revenue Code to impose a tax on large investors when they purchase single-family homes, with different tax rates based on the number of homes owned. This tax does not...
Simple Explanation
S. 3673 is a bill that wants big companies who buy a lot of houses to pay extra money, and this extra money will be used to help people find affordable places to live. It makes sure small states get more money to help build homes for people who need them.
H. R. 10222 — To amend the Internal Revenue Code of 1986 with respect to the application of the excise tax on tobacco to pipe and waterpipe tobacco.
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November 21, 2024
Status:Introduced in House
Congress:118
Words:422
H. R. 10222, known as the “Hookah Clarification Act of 2024,” proposes changes to the Internal Revenue Code of 1986 to address taxes on pipe and waterpipe tobacco. It aims to impose a tax of $2.8311 per pound on both pipe and waterpipe tobacco, which includes products...
Simple Explanation
The bill wants to change the way taxes are collected on special kinds of tobacco used in pipes and waterpipes, like hookahs, by setting a specific tax amount for each pound of this tobacco. It is like saying, "For every big bag of this special tobacco, you will pay a certain amount of money in tax."
H. R. 3801 — An Act To amend the Internal Revenue Code of 1986 to streamline and improve the employer reporting process relating to health insurance coverage and to protect dependent privacy.
December 13, 2024
Status:Enrolled Bill
Congress:118
Words:770
H. R. 3801, titled the “Employer Reporting Improvement Act,” proposes changes to the Internal Revenue Code to enhance how employers report health insurance coverage details. The bill allows for flexibility in providing taxpayer identification numbers by permitting the use of...
Simple Explanation
H. R. 3801 is like a set of new rules to make it easier for bosses to tell the government about the health insurance they give their workers, and it also helps keep people’s personal information safe. It says bosses can use names and birthdays instead of special ID numbers, and they can send insurance details by email if the worker agrees.
H. R. 9152 — To amend the Internal Revenue Code of 1986 to clarify that determinations regarding whether an individual who is a contractor providing services to an educational organization is a full time employee for purposes of requirements relating to an employer’s responsibility to provide health coverage are subject to rules that apply to employees of educational organizations.
July 25, 2024
Status:Introduced in House
Congress:118
Words:356
H.R. 9152, known as the "Securing Continued Healthcare for Our Operations and Logistics Professionals Act of 2024" or the "SCHOOL Professionals Act of 2024," aims to modify the Internal Revenue Code of 1986. The bill seeks to clarify that individuals who work as contractors for educational...
Simple Explanation
H.R. 9152 says that people who work for schools as freelancers or contractors should be treated the same as regular school employees when it comes to providing health insurance, so they can also get health coverage.
H. R. 9958 — To amend the Internal Revenue Code of 1986 to permit certain transactions between individually directed accounts and account holders and their families relating to residential property and to increase the amount of loans excepted from certain rules pertaining to loans from qualified employer plans to the plan beneficiary.
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October 11, 2024
Status:Introduced in House
Congress:118
Words:495
The H.R. 9958, also called the "Home Ownership, Mortgage, and Equity Savings Act of 2024," seeks to amend the Internal Revenue Code. It allows individually directed accounts to conduct certain transactions involving a plan's assets and residential property for use by the...
Simple Explanation
The bill wants to let people use some of their savings meant for retirement to help buy a home for themselves or their family, and it also allows them to borrow more money—up to $50,000—than they could before to buy a house.
S. 4331 — To amend the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to require that group health plans and health insurance issuers offering group or individual health insurance that provide coverage for mental health services and substance use disorder services provide such services without the imposition of cost-sharing from the diagnosis of pregnancy through the 1-year period following such pregnancy, and for other purposes.
May 14, 2024
Status:Introduced in Senate
Congress:118
Words:2,220
S. 4331 proposes changes to several existing laws to ensure that group health plans and health insurance providers cover mental health and substance use disorder services without any cost-sharing expenses for individuals from the time a pregnancy is diagnosed until one year...
Simple Explanation
S. 4331 wants to make sure that people who are having a baby can get help for mental health and substance use without worrying about extra costs from the time they know they are pregnant until one year after the baby is born. This means insurance would cover these services fully during that time.
S. 5369 — To amend the Internal Revenue Code of 1986 to establish a technology-neutral tax credit for increased investment in next-generation carbon dioxide removal technologies.
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November 21, 2024
Status:Introduced in Senate
Congress:118
Words:4,404
The bill, titled the "Carbon Dioxide Removal Investment Act," aims to amend the Internal Revenue Code of 1986 to create a tax credit for projects that remove carbon dioxide from the atmosphere. This tax credit is technology-neutral and applies to various approaches, such as direct air...
Simple Explanation
The "Carbon Dioxide Removal Investment Act" is a plan to give money back to people who build cool machines that suck up bad air from the sky, using any clever idea they can think of. It's like getting a reward for cleaning up the mess we make to keep the Earth healthy and happy!
H. R. 5687 — To amend the Internal Revenue Code of 1986 to modernize health savings accounts.
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February 13, 2024
Status:Reported in House
Congress:118
Words:1,889
H.R. 5687 aims to update health savings accounts (HSAs) under the Internal Revenue Code. The bill proposes several changes, including allowing certain veterans and individuals eligible for Medicare due to age to contribute to HSAs, and it clarifies the treatment of specific medical expenses...
Simple Explanation
H.R. 5687 is a plan to change how people can save money for health needs, making it easier for veterans and older adults to save, and allowing more types of health plans to join in. It also tries to let married people save together and sets new rules for how much money can go into these savings, but some parts might be a bit confusing without more details.
S. 4911 — To amend the Internal Revenue Code to allow employers to contribute to ABLE accounts in lieu of retirement plan contributions.
July 31, 2024
Status:Introduced in Senate
Congress:118
Words:1,174
S. 4911, known as the “ABLE Employment Flexibility Act,” proposes changes to the Internal Revenue Code to allow employers to contribute directly to ABLE accounts for eligible individuals as an alternative to retirement plan contributions. It ensures that these contributions...
Simple Explanation
S. 4911 wants to let companies put money into special savings accounts called ABLE accounts to help people with disabilities, instead of just putting money into retirement plans. This bill makes sure that doing this is okay with tax rules and tries to keep it fair for everyone working at the company.
H. R. 8314 — To amend the Internal Revenue Code of 1986 to impose penalties with respect to contributions to political committees from certain tax exempt organizations that receive contributions from foreign nationals.
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September 06, 2024
Status:Reported in House
Congress:118
Words:1,010
The bill H.R. 8314, titled the “No Foreign Election Interference Act,” proposes changes to the Internal Revenue Code to discourage foreign influence in U.S. elections. It aims to impose penalties on certain tax-exempt organizations that receive contributions from foreign...
Simple Explanation
The bill wants to stop foreign money from affecting U.S. elections by punishing certain organizations if they get money from people in other countries and then give it to political groups in the U.S., even saying that after three times, they might lose their special tax status.
H. R. 7465 — To amend the Internal Revenue Code of 1986 to index dependant care assistance programs to inflation.
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February 28, 2024
Status:Introduced in House
Congress:118
Words:407
H.R. 7465 aims to amend the Internal Revenue Code to account for inflation in dependant care assistance programs. The bill proposes to increase the maximum contribution limits to these programs, raising them from $5,000 to $10,000, and introduces a cost-of-living adjustment...
Simple Explanation
H.R. 7465 is a bill that wants to help families pay for taking care of their kids by letting them put more money aside that grows over time. It also wants to make sure this money goes up as things get more expensive, like when you get more allowance when candy costs more.
S. 3798 — To amend the Internal Revenue Code of 1986 to require taxpayers claiming the child and earned income tax credits, and their qualifying children, to have a valid social security number for employment purposes.
February 12, 2024
Status:Introduced in Senate
Congress:118
Words:736
S. 3798 aims to change the rules in the Internal Revenue Code of 1986 so that individuals claiming the child tax credit or earned income tax credit must have a valid social security number for themselves and their children. This change would ensure that only taxpayers...
Simple Explanation
The bill wants to make sure that people claiming the child tax credit or earned income tax credit have a real social security number to show they are allowed to work in the U.S., starting from 2024. This means only those with the right paperwork can get these special tax benefits.
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.
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January 25, 2024
Status:Introduced in House
Congress:118
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.
S. 3486 — To amend the Internal Revenue Code of 1986 to disallow companies associated with foreign adversaries from receiving the advanced manufacturing production credit.
December 13, 2023
Status:Introduced in Senate
Congress:118
Words:1,099
S. 3486 aims to amend the Internal Revenue Code of 1986 to prevent companies linked to foreign adversaries from benefiting from the advanced manufacturing production credit. The bill outlines that companies controlled or influenced by foreign adversaries, or possessing...
Simple Explanation
S. 3486 says that companies connected to countries seen as "foreign enemies" can't get special tax breaks meant to help make things in a more advanced way. This rule helps make sure that only companies from friendly places can get extra help from these tax benefits.
H. R. 10104 — To amend the Internal Revenue Code of 1986 to prevent a double benefit with respect to second generation biofuels under the clean fuel production credit and the alcohol fuels credit and to extend the application of alcohol fuels credit with respect to such biofuels.
November 08, 2024
Status:Introduced in House
Congress:118
Words:366
H. R. 10104 is a bill introduced in the House of Representatives aimed at amending the Internal Revenue Code of 1986. The purpose of the bill is to prevent double benefits for second generation biofuels by ensuring that these fuels cannot receive both the clean fuel...
Simple Explanation
The bill wants to make sure that special cars running on certain plant-based fuels don't get two treats when they should only get one. It also gives these special fuels a longer time to enjoy their treats.
S. 4068 — To amend the Internal Revenue Code of 1986 to establish a business tax credit for the purchase of zero-emission electric lawn, garden, and landscape equipment, and for other purposes.
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March 22, 2024
Status:Introduced in Senate
Congress:118
Words:1,279
The bill, titled the "Promoting Reduction of Emissions through Landscaping Equipment Act," aims to modify the Internal Revenue Code to create a business tax credit for purchasing zero-emission electric equipment used in landscaping, such as lawn mowers and garden tools. This credit would...
Simple Explanation
The "Promoting Reduction of Emissions through Landscaping Equipment Act" is like giving businesses a coupon to buy special lawn and garden tools that don't make as much pollution. It lets them save up to 40% on buying these tools, but only up to $25,000 each year and $100,000 in total over ten years.
H. R. 9331 — To amend the Internal Revenue Code of 1986 to modify the excise tax on investment income of private colleges and universities.
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August 09, 2024
Status:Introduced in House
Congress:118
Words:511
H.R. 9331, known as the “Higher Education Accountability Tax Act,” aims to amend the Internal Revenue Code of 1986 to change the excise tax on investment income for private colleges and universities. The bill proposes increasing the tax rate from 1.4% to 10% and sets an even...
Simple Explanation
The bill wants private colleges and universities to pay more money from the income they earn by investing, with higher taxes if they raise their student costs too much. It also means more schools would have to pay this tax if they have a certain amount of money saved for each student.
H. R. 8390 — To amend the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to require that group health plans and health insurance issuers offering group or individual health insurance that provide coverage for mental health services and substance use disorder services provide such services without the imposition of cost-sharing from the diagnosis of pregnancy through the 1-year period following such pregnancy, and for other purposes.
May 14, 2024
Status:Introduced in House
Congress:118
Words:2,270
H.R. 8390, known as the "Mental Health and Making Access More Affordable Act of 2024," aims to change U.S. laws to ensure that health insurance plans covering mental health and substance use disorder services offer these services without additional costs for pregnant and postpartum...
Simple Explanation
H.R. 8390 is a bill that wants to make sure people who are having a baby, and for a year after, can get help for mental health and addiction without having to pay extra, just like seeing a doctor.
S. 3608 — To amend the Internal Revenue Code of 1986 to prohibit treatment of certain distributions and reimbursements for certain abortions as qualified medical expenses.
January 17, 2024
Status:Introduced in Senate
Congress:118
Words:650
S. 3608, titled the "Protecting Life in Health Savings Accounts Act," seeks to amend the Internal Revenue Code of 1986 to change how certain abortion-related expenses are treated. The bill would prohibit health savings accounts (HSAs), Archer medical savings accounts (MSAs), health flexible...
Simple Explanation
The bill says that certain types of money people use for healthcare can't pay for abortions unless they are necessary because of really serious reasons, like if the baby or mom is in danger.
H. R. 9069 — To amend the Internal Revenue Code of 1986 to modify the depreciation of nonresidential real property and residential rental property.
July 18, 2024
Status:Introduced in House
Congress:118
Words:1,024
The bill, H.R. 9069, named the "Renewing Investment in American Workers and Supply Chains Act," proposes changes to the way depreciation is calculated for nonresidential real property and residential rental property in the United States. It sets a 20-year depreciation period for these types...
Simple Explanation
H.R. 9069 is a new rule that changes how some buildings, like offices and apartments, lose value over time for taxes. It says these buildings will now do this over 20 years and uses a special math rule to adjust how much they lose based on how the economy is doing.
S. 5135 — To amend the Internal Revenue Code of 1986 to increase penalties for unauthorized disclosure of taxpayer information.
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September 23, 2024
Status:Introduced in Senate
Congress:118
Words:335
S. 5135, introduced on September 23, 2024, is a bill aimed at amending the Internal Revenue Code of 1986 to increase the penalties for unauthorized disclosure of taxpayer information. The proposed changes significantly raise the fines from $5,000 to $250,000 and extend the...
Simple Explanation
The bill is like a big rule saying people need to be extra careful with others' tax secrets. If someone shares these secrets without permission, they could be fined a huge amount of money, and if they share secrets about lots of people, they'll be in even bigger trouble.
H. R. 9201 — To amend the Internal Revenue Code of 1986 to make the re-equipping, expansion, or establishment of certain facilities relating to the production or reprocessing of critical minerals, including uranium and spent nuclear fuel, to include uranium as an applicable critical mineral for purposes of the advanced manufacturing production credit, and for other purposes.
July 30, 2024
Status:Introduced in House
Congress:118
Words:607
H.R. 9201, titled the "Nuclear USA Act of 2024," aims to amend the Internal Revenue Code to encourage the development of facilities related to critical minerals, like uranium. The bill looks to classify uranium as a critical mineral, which would make facilities involved in uranium processing,...
Simple Explanation
The bill wants to help make more places where people can work with important minerals like uranium for making things, by giving them special financial rewards. This is like giving a high-five to places working with these materials to help them grow and make more energy.
S. 3604 — To amend title 1, United States Code, to clarify that certain tax exemptions are not treated as Federal financial assistance.
January 17, 2024
Status:Introduced in Senate
Congress:118
Words:412
S. 3604 seeks to amend title 1 of the United States Code to clarify that certain tax exemptions are not classified as Federal financial assistance. This bill, known as the "Safeguarding Charity Act," specifically addresses organizations described in sections 501(c), 501(d),...
Simple Explanation
S. 3604 is a bill that says some groups, like charities, don't get help from the government just because they don't have to pay certain taxes. This means their past not having to pay taxes isn't counted as getting help from the government.
H. R. 6702 — To amend the Internal Revenue Code of 1986 to allow a nonrefundable credit for elementary and secondary school supply expenses.
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December 11, 2023
Status:Introduced in House
Congress:118
Words:624
H.R. 6702 proposes an amendment to the Internal Revenue Code to provide a nonrefundable tax credit for school supplies purchased for elementary and secondary students. The credit allows individuals to claim up to $200 for expenses like books and equipment related to a child's enrollment in a...
Simple Explanation
This bill wants to help people pay for their kids' school supplies by giving them a break on their taxes, but they can only get a $200 break each year and it starts getting smaller if they make more than $150,000 a year.
H. R. 8900 — To amend the Internal Revenue Code of 1986 to allow taxpayers to extend the compliance period of the low-income housing credit to receive additional credits.
June 28, 2024
Status:Introduced in House
Congress:118
Words:712
H.R. 8900, known as the "Keep Housing Affordable Act of 2024," proposes changes to the Internal Revenue Code of 1986 to help support low-income housing. It allows taxpayers to extend the period during which they must comply with the requirements of the low-income housing credit, enabling them...
Simple Explanation
H.R. 8900 is a plan to help people find affordable homes by letting builders keep homes affordable for a longer time in exchange for special money benefits, like extra tax credits. It also allows some loans to help pay for these homes without breaking certain rules.
H. R. 7418 — To amend the Internal Revenue Code of 1986 to exclude from gross income certain compensation to clinical trial participants.
February 20, 2024
Status:Introduced in House
Congress:118
Words:443
H.R. 7418 proposes an amendment to the Internal Revenue Code of 1986 to ensure that money received by individuals as compensation for participating in clinical trials is not counted as part of their gross income for tax purposes. This includes payments made directly to...
Simple Explanation
H.R. 7418 is like a rule that says when people get paid for helping scientists by being part of clinical trials, they don't have to pay extra money to the government from that payment. This rule helps them save some of their money if they joined after the end of 2023.
S. 4017 — To amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes.
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March 21, 2024
Status:Introduced in Senate
Congress:118
Words:4,495
The bill, titled the "Ultra-Millionaire Tax Act of 2024," aims to amend the Internal Revenue Code to impose a wealth tax on individuals with net assets exceeding $50 million. The tax rate starts at 2% for assets over this threshold and increases to 3% or 6% if certain health legislation...
Simple Explanation
The bill wants to make super-rich people, who have more than $50 million, pay extra money to the government to help share the wealth more evenly, and it plans to give lots of money to the tax office to make sure they check if everyone is paying correctly. This is like asking those with lots of toys to share a bit more and giving helpers extra tools to count all the toys.
H. R. 8785 — To amend the Internal Revenue Code of 1986 to provide that tips shall not be subject to income or employment taxes.
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June 18, 2024
Status:Introduced in House
Congress:118
Words:1,316
H.R. 8785, titled the "Tax Free Tips Act of 2024," seeks to change the Internal Revenue Code of 1986 so that tips given to employees are not taxed as income or employment wages. This bill would treat tips as gifts, thus excluding them from federal income tax, Social Security,...
Simple Explanation
The Tax Free Tips Act of 2024 wants to make it so when people leave tips at restaurants or other places, those tips aren't taxed by the government. This means more money might stay in the pockets of waiters and other workers who get tips.
S. 4872 — To amend the Internal Revenue Code of 1986 to exempt sports betting from the tax on authorized wagers.
July 31, 2024
Status:Introduced in Senate
Congress:118
Words:304
S. 4872, also known as the "Withdrawing Arduous Gaming Excise Rates Act" or the "WAGER Act," seeks to change tax rules under the Internal Revenue Code of 1986. The bill proposes to exempt sports betting from the excise tax on authorized wagers if such betting is legally...
Simple Explanation
The WAGER Act wants to change the way taxes work for sports betting. It plans to stop charging extra taxes on bets made on sports games if the state or tribal laws say it's okay.
H. R. 8559 — To amend the Internal Revenue Code of 1986 to protect small businesses from unemployment insurance premium increases by reason of unrepaid State advances.
May 23, 2024
Status:Introduced in House
Congress:118
Words:295
This bill, H. R. 8559, aims to amend the Internal Revenue Code to help small businesses avoid increases in unemployment insurance premiums due to unpaid State advances. It proposes that small businesses with fewer than 500 employees should not have their tax credits reduced...
Simple Explanation
The bill wants to help small businesses, with less than 500 workers, by stopping their costs for job insurance from going up if a state owes money. It's like making sure a small shop doesn't have to pay extra for job insurance because the state hasn't paid back a loan.
H. R. 7707 — To amend the Internal Revenue Code of 1986 to provide for a first-time homebuyer credit, and for other purposes.
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March 15, 2024
Status:Introduced in House
Congress:118
Words:3,696
The bill, H.R. 7707, seeks to amend the Internal Revenue Code of 1986 to introduce a refundable tax credit for first-time homebuyers. It allows eligible individuals to receive a credit worth 10% of the purchase price of their home, up to a maximum of $15,000. Certain...
Simple Explanation
The bill wants to give people buying their first house a bit of money back, up to $15,000, to help them pay for it, but they have to follow some rules like not owning a home recently and earning below a certain amount of money. If someone sells the house too soon or doesn't live in it, they might have to give the money back, and there are special rules for how this money can be shared or transferred to help with loans.
H. R. 9394 — To amend the Internal Revenue Code of 1986 to reform health provisions, and for other purposes.
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August 23, 2024
Status:Introduced in House
Congress:118
Words:4,280
H.R. 9394, known as the "Health Out-of-Pocket Expense Act of 2024" or the "HOPE Act of 2024," proposes changes to the Internal Revenue Code of 1986. It introduces HOPE Accounts, which are tax-exempt trusts designed to pay for an individual's medical expenses. The bill sets rules for how these...
Simple Explanation
The "HOPE Act of 2024" lets people put money into special savings accounts called HOPE Accounts to pay for doctor's visits and medicine without paying extra taxes, but if they use the money for other things, they get charged a big penalty.
H. R. 1432 — An Act To amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces.
December 06, 2024
Status:Enrolled Bill
Congress:118
Words:285
H.R. 1432, known as the "VSO Equal Tax Treatment Act" or the "VETT Act," aims to amend the Internal Revenue Code of 1986 to allow deductions for charitable donations made to certain organizations for Armed Forces members. The bill specifically adds federally chartered corporations under...
Simple Explanation
Imagine the government is making it easier for people to give money to groups that help soldiers, by letting them pay less in taxes when they donate. But they're only doing this for certain special soldier groups, which might make other groups feel left out.
S. 3521 — To amend the Internal Revenue Code of 1986 to establish a credit for the domestic production of rare earth magnets, and for other purposes.
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December 14, 2023
Status:Introduced in Senate
Congress:118
Words:1,435
The bill, titled the "Rare Earth Magnet Manufacturing Production Tax Credit Act of 2023," aims to modify the Internal Revenue Code to offer a tax credit for producing rare earth magnets within the United States. It allows a credit of $20 per kilogram for magnets produced, increasing to $30 if...
Simple Explanation
The bill wants to give money back to companies that make special magnets in the USA, especially if they use materials from America, but this will get smaller over time. It's like giving a bonus to encourage them to make more things here instead of from far-away places we don't work with as much.
H. R. 10028 — To amend the Internal Revenue Code of 1986 to disallow the deduction of certain expenses relating to ownership of single-family homes by specified large investors, to impose an excise tax on the sale of such homes by such investors, and to prohibit Federal mortgage assistance relating to certain large investors.
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October 22, 2024
Status:Introduced in House
Congress:118
Words:1,798
The bill, titled the “Stop Wall Street Landlords Act of 2024,” seeks to amend the Internal Revenue Code of 1986 by preventing large investors from deducting certain expenses related to owning single-family homes. It introduces an excise tax on the sale or transfer of these homes by large...
Simple Explanation
The "Stop Wall Street Landlords Act of 2024" wants to stop really rich people from getting money back on taxes when they buy lots of houses, and instead, use the money to help people who need homes. It also says that big companies shouldn't get special help from the government when they buy house loans.
H. R. 7906 — To improve the effectiveness and available tools of State and tribal child support enforcement agencies, and for other purposes.
April 09, 2024
Status:Introduced in House
Congress:118
Words:1,429
The bill H.R. 7906, known as the “Strengthening State and Tribal Child Support Enforcement Act,” aims to enhance the tools and effectiveness of child support enforcement agencies at the state and tribal levels. It proposes amendments to the Social Security Act and the...
Simple Explanation
The bill wants to give more help to groups that make sure moms and dads pay for their kids, especially for Native American tribes, by letting them use some tax information like the states do. This way, they can do a better job of collecting money that parents owe for taking care of their children.
S. 4825 — To provide that silencers be treated the same as firearms accessories.
July 29, 2024
Status:Introduced in Senate
Congress:118
Words:928
The bill, known as the Silencers Help Us Save Hearing Act or SHUSH Act, proposes that silencers be treated the same as other firearms accessories. It seeks to amend the Internal Revenue Code and other federal laws to no longer classify silencers as regulated...
Simple Explanation
The bill wants to make silencers, which are devices that make guns quieter, be treated just like other parts of a gun, without special rules, and it would make sure states can't have their own strict rules about them either.
H. R. 7029 — To amend the Internal Revenue Code of 1986 to remove the differentiation between mead and low alcohol by volume wine for purposes of the tax imposed on wines.
January 18, 2024
Status:Introduced in House
Congress:118
Words:356
H.R. 7029, introduced by Mr. Blumenauer and Mr. Kelly of Pennsylvania, is known as the "Bubble Tax Modernization Act of 2024." This bill proposes an amendment to the Internal Revenue Code of 1986 to eliminate the tax distinction between mead and low alcohol by volume wines....
Simple Explanation
H.R. 7029 wants to change a rule so that mead and wines with low alcohol are treated the same when it comes to taxes. This means that both will be charged the same tax if they have no more than 16% alcohol, starting next year.
H. R. 10013 — To amend the Internal Revenue Code of 1986 to exclude individuals who have committed certain crimes from being eligible students for purposes of the American opportunity credit, the lifetime learning credit, and the deduction on interest paid on qualified education loans.
October 18, 2024
Status:Introduced in House
Congress:118
Words:436
The bill H.R. 10013, titled the “Education Not Agitation Act of 2024,” proposes changes to the Internal Revenue Code of 1986. It aims to disqualify students who have committed certain crimes, like unlawful assembly or vandalism during protests on college campuses, from being...
Simple Explanation
The bill wants to change the rules so that if a student gets in trouble for doing bad things during a protest, like breaking stuff or being in a place they shouldn't, they might not get some special money help for school or paying for school loans.
S. 5254 — To amend the Internal Revenue Code of 1986 to enhance the employer-provided child care credit.
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September 25, 2024
Status:Introduced in Senate
Congress:118
Words:923
The bill, titled the “Child Care for American Families Act,” amends the Internal Revenue Code to increase the employer-provided child care credit. It proposes changes to the credit percentage for businesses, setting it at 40% generally, but offering higher rates of 50% for small businesses...
Simple Explanation
The Child Care for American Families Act is a plan that helps businesses by giving them money back for taking care of their workers' kids, with smaller businesses and some special areas getting extra help. It's like when someone gives you more stickers for doing a special job, and this plan makes sure more people know about these stickers and how to get them.
H. R. 9993 — To amend the Internal Revenue Code of 1986 to provide tax incentives for the establishment and operation of small food retail businesses in areas with high food retail concentration and low levels of competition.
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October 15, 2024
Status:Introduced in House
Congress:118
Words:1,645
H.R. 9993, also known as the "REDUCE Food Prices Act," aims to amend the Internal Revenue Code to offer tax incentives for small food retail businesses. It provides increased tax credits and deductions for these businesses if they operate in areas with high food retail concentration but low...
Simple Explanation
H.R. 9993, the "REDUCE Food Prices Act," is like giving small grocery store owners special money bonuses to help them start and grow their stores in places where there aren't many other stores, helping more people find places to shop for food nearby.
H. R. 9994 — To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions.
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October 15, 2024
Status:Introduced in House
Congress:118
Words:368
H. R. 9994 aims to change the Internal Revenue Code of 1986 to help first-time homebuyers by increasing the amount of money they can take out of their retirement plans without facing penalties. The bill proposes raising the current limit from $10,000 to $25,000. It also...
Simple Explanation
Imagine you have a piggy bank just for retirement, and the government lets you take out more money from it, without a penalty, to help buy your first house—this bill wants to increase that amount from $10 to $25, and even more as things get more expensive over time.
S. 5249 — To amend the Internal Revenue Code of 1986 to deny certain green energy tax benefits to companies connected to certain countries of concern.
September 25, 2024
Status:Introduced in Senate
Congress:118
Words:758
The bill, titled the "No Official Giveaways Of Taxpayers’ Income to Oppressive Nations Act" or the "NO GOTION Act", aims to revise the Internal Revenue Code of 1986. It seeks to prevent certain companies from receiving green energy tax benefits if they are...
Simple Explanation
The "NO GOTION Act" is a rule that stops certain companies from getting special money help for green energy if they are linked to countries like China or Russia, because those places might not be friendly to the U.S. or have bad governments.
H. R. 6938 — To amend the Internal Revenue Code of 1986 to reinstate the deduction for personal casualty losses as in effect prior to the enactment of Public Law 115–97 (commonly referred to as the Tax Cuts and Jobs Act).
January 10, 2024
Status:Introduced in House
Congress:118
Words:468
H.R. 6938 aims to amend the Internal Revenue Code of 1986 to bring back the deduction for personal casualty losses, which was removed by the Tax Cuts and Jobs Act. The bill would allow taxpayers to claim casualty loss deductions on returns for tax years starting after...
Simple Explanation
In a bill called H.R. 6938, Congress wants to let people count certain bad things that happened to them, like a house getting damaged in a storm, on their taxes to help them pay less. This was allowed before but got taken away, and now they want to bring it back so people can fix their old taxes and maybe get some money back.
S. 4541 — To amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent.
June 17, 2024
Status:Placed on Calendar Senate
Congress:118
Words:405
S. 4541 is a bill that aims to permanently extend certain provisions concerning ABLE (Achieving a Better Life Experience) programs, which are savings plans that help individuals with disabilities meet their long-term expenses. The bill proposes changes to the Internal Revenue...
Simple Explanation
S. 4541 is a bill that wants to make it forever okay to put more money into special savings accounts called ABLE programs, which help people with disabilities save for future needs, and also to allow money to be moved from education savings to these accounts anytime.
H. R. 9572 — To amend title XXVII of the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to increase penalties for group health plans and health insurance issuers for practices that violate balance billing requirements, and for other purposes.
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September 12, 2024
Status:Introduced in House
Congress:118
Words:4,007
The proposed bill, known as the "Enhanced Enforcement of Health Coverage Act," aims to increase penalties for group health plans and health insurance issuers that violate balance billing requirements. It amends several laws, including the Public Health Service Act, the Employee Retirement...
Simple Explanation
The bill wants to make sure that when people visit doctors who don't work with their health insurance, they don't get surprised with big bills they didn't expect, and if insurance companies don't follow this rule, they have to pay a big fine. Plus, it says insurance companies should pay these doctors quickly and tell Congress what they are doing about it so they are fair to everyone.
S. 3925 — To amend the Internal Revenue Code of 1986 to increase the low-income housing credit for projects designated to serve households with people with disabilities.
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March 12, 2024
Status:Introduced in Senate
Congress:118
Words:544
S. 3925 aims to modify the Internal Revenue Code of 1986 to increase the low-income housing credit for certain housing projects. This bill specifies that if at least 50% of the units in a building are designed for people with disabilities and meet certain location criteria,...
Simple Explanation
S. 3925 is a plan to help build more homes for people with disabilities by giving bigger tax breaks to builders if they make at least half of their building fit for those people and follow special rules. This is meant to make it easier for builders to afford making homes that everyone can use.
H. R. 8396 — To amend the Internal Revenue Code of 1986 to provide a credit for American infrastructure bonds, and for other purposes.
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May 14, 2024
Status:Introduced in House
Congress:118
Words:2,865
H.R. 8396, also known as the "Local Infrastructure Financing Tools Act" or the "LIFT Act," aims to amend the Internal Revenue Code to provide tax credits for issuers of American infrastructure bonds, incentivizing investments in capital projects and infrastructure improvements. The bill...
Simple Explanation
H.R. 8396, called the "LIFT Act," wants to give special money bonuses to people who build things like roads and bridges in America, hoping it will help make these things better for everyone.
H. R. 9203 — To amend the Internal Revenue Code of 1986 to establish special rules for capital gains invested in brownfield and superfund sites.
July 30, 2024
Status:Introduced in House
Congress:118
Words:2,626
The bill, H.R. 9203, titled the "Economic Opportunity for Distressed Communities Act," proposes amendments to the Internal Revenue Code of 1986 to introduce special rules for capital gains invested in brownfield and superfund sites. It aims to incentivize investments in these areas by...
Simple Explanation
The bill wants to give people a tax break if they invest their money in fixing up polluted or messy places, like old dirty factories, to help make them nice again and improve the neighborhood. It sets up special rules to make sure this is done properly, but it's important to be clear to avoid confusion and ensure it really helps the communities that need it most.
H. R. 9781 — To amend the Internal Revenue Code of 1986 to provide a tax credit for investors in start-up businesses, to provide a credit for wages paid by start-up businesses to their first employees, and for other purposes.
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September 24, 2024
Status:Introduced in House
Congress:118
Words:6,490
The PROGRESS Act aims to amend the Internal Revenue Code to support startup businesses. It introduces a tax credit for investors who put money into these startups, encouraging financial backing by providing them with a potential tax saving. Additionally, it offers a credit to...
Simple Explanation
The PROGRESS Act is like a magic helper for new businesses and their friends who give them money. It gives those friends a little money back for helping out, and it also gives the new business a bonus when they start paying their first workers.
H. R. 7169 — To amend the Internal Revenue Code of 1986 to provide for the public reporting of certain contributions received by charitable organizations from foreign governments and foreign political parties.
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January 31, 2024
Status:Introduced in House
Congress:118
Words:947
H.R. 7169 seeks to change the Internal Revenue Code to require charitable organizations in the United States to publicly disclose information about contributions they receive from foreign governments and political parties. The bill aims to increase transparency by mandating...
Simple Explanation
H.R. 7169 is a bill that wants to make sure we know when big gifts, over $50,000, are given to charities in the U.S. by foreign countries or political groups, especially from China, by putting this information on the internet for everyone to see. This way, they hope to keep things fair and stop other countries from having too much say in what happens in America.
H. R. 1432 — To amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces.
January 18, 2024
Status:Reported in House
Congress:118
Words:572
H.R. 1432 proposes an amendment to the Internal Revenue Code, allowing charitable contributions made to specific organizations linked to the Armed Forces to be tax-deductible. The bill targets organizations that meet the criteria outlined under section 501(c)(19) of the...
Simple Explanation
Imagine a new rule that says if someone gives money to special groups that help people in the military, they can pay a little less on their taxes. This rule only works for certain big groups that are approved by the government.
H. R. 9787 — To amend the Internal Revenue Code of 1986 to prohibit the use of foreign feedstocks for purposes of the clean fuel production credit, and for other purposes.
September 24, 2024
Status:Introduced in House
Congress:118
Words:350
H.R. 9787 aims to change the Internal Revenue Code by stopping the use of foreign feedstocks in getting clean fuel production credits. This means the clean fuel must come from materials produced or grown in the U.S. The bill also extends the availability of these clean fuel...
Simple Explanation
H.R. 9787 is a bill that says people can get a special reward for making clean fuel, but only if they use materials from the U.S., not from other countries. It also plans to keep this reward available until the end of 2034, which is longer than was originally planned.
H. R. 8292 — An Act To amend the Internal Revenue Code of 1986 to increase penalties for unauthorized disclosure of taxpayer information.
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September 18, 2024
Status:Received in Senate
Congress:118
Words:308
H.R. 8292, titled the “Taxpayer Data Protection Act,” aims to amend the Internal Revenue Code of 1986 to increase the penalties for unauthorized disclosure of taxpayer information. The bill proposes raising the fine from $5,000 to $250,000 and increasing the maximum prison...
Simple Explanation
H.R. 8292 is a bill that wants to make the punishment much bigger for people who share private taxpayer information without permission. If someone does this, they could now pay a really big fine and spend more time in jail.
H. R. 7090 — To amend the Internal Revenue Code of 1986 to exclude from gross income certain compensation to clinical trial participants.
January 25, 2024
Status:Introduced in House
Congress:118
Words:331
H.R. 7090 aims to change the Internal Revenue Code of 1986 to ensure that certain payments received by individuals for participating in approved clinical trials are not counted as part of their taxable income. Specifically, this bill excludes payment or reimbursement for...
Simple Explanation
H.R. 7090 is a bill that says when people get money for being part of medical studies, those payments won't be taxed like normal income. This means they don't have to count that money when figuring out how much they owe in taxes.
H. R. 9780 — To amend the Internal Revenue Code of 1986 to provide tax incentives and fees for increasing motor vehicle fuel economy, and for other purposes.
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September 24, 2024
Status:Introduced in House
Congress:118
Words:4,392
The bill, titled the "Vehicle Energy Performance Act of 2024," aims to amend the Internal Revenue Code to encourage motor vehicle fuel efficiency through tax measures. It proposes a tax credit for individuals or businesses that use new vehicles with high energy performance, while imposing a...
Simple Explanation
The "Vehicle Energy Performance Act of 2024" is a plan to give people money rewards for using super-efficient cars and to charge companies extra if they make gas-guzzling cars, kind of like a game where you get points for making smart choices with your car!
S. 4873 — To amend the Internal Revenue Code of 1986 to prohibit allowance of the advanced manufacturing production credit for components produced by foreign entities of concern.
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July 31, 2024
Status:Introduced in Senate
Congress:118
Words:316
The bill S. 4873 aims to amend the Internal Revenue Code of 1986 by stopping the advanced manufacturing production credit for components made by certain foreign entities. This change would apply to any parts produced and sold after the law goes into effect. The goal is to...
Simple Explanation
The bill wants to stop giving tax help for making things like solar parts in other countries that the U.S. is worried about. This way, it encourages people to make more of these things in the U.S. instead.
H. R. 7393 — To amend the Internal Revenue Code of 1986 to provide a refundable credit for certain home accessibility improvements.
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February 15, 2024
Status:Introduced in House
Congress:118
Words:2,060
H. R. 7393 proposes changes to the Internal Revenue Code to offer a refundable tax credit for expenses related to making homes more accessible for people with disabilities. The bill allows individuals to claim a credit of 35% for qualified accessibility improvement expenses, up to a limit of...
Simple Explanation
H.R. 7393 is a plan to help people make their homes more accessible for those with disabilities by giving money back through a tax credit, up to a certain limit, for things like adding ramps and widening doorways.
H. R. 9909 — To amend the Internal Revenue Code of 1986 to provide a credit for hazard mitigation projects in connection with certain working waterfront property.
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October 01, 2024
Status:Introduced in House
Congress:118
Words:2,304
H.R. 9909, known as the "Working Waterfront Disaster Mitigation Tax Credit Act," aims to amend the Internal Revenue Code of 1986. It introduces a tax credit for hazard mitigation projects associated with certain working waterfront properties. The bill allows a 30% tax credit on qualified...
Simple Explanation
H.R. 9909 is a bill that wants to help protect places near the water, like where people fish or build boats, by giving them a bit of money back when they make their buildings safer. It gives them a 30% discount, like a coupon, but only up to $300,000, to fix things like flooding or the edges of the shore.
S. 3702 — To amend the Internal Revenue Code of 1986 to provide a nonrefundable credit for working family caregivers.
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January 31, 2024
Status:Introduced in Senate
Congress:118
Words:2,068
The proposed bill, titled the "Credit for Caring Act of 2024," seeks to amend the Internal Revenue Code to offer a tax credit for working family caregivers. It would allow eligible caregivers to receive a nonrefundable credit equivalent to 30% of their qualified caregiving expenses over...
Simple Explanation
The "Credit for Caring Act of 2024" is a proposed law that would help people who take care of family members by giving them some money back when they do their taxes to make it a bit easier on their wallet. It offers a tax break for certain caregiving costs, but not everyone qualifies, and the amount you get back depends on how much you earn and spend.
H. R. 6408 — An Act To amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations.
April 15, 2024
Status:Engrossed in House
Congress:118
Words:1,194
H.R. 6408 is a bill that proposes changes to the Internal Revenue Code of 1986. It aims to end the tax-exempt status of organizations identified as supporting terrorism by providing material support to terrorist groups. The bill outlines procedures for the Internal Revenue...
Simple Explanation
H.R. 6408 is a law that wants to take away special tax-free status from groups that help bad guys called terrorists. It tells the tax people how to find these groups and allows those groups to argue if they think it's a mistake.
H. R. 8864 — To amend the Internal Revenue Code of 1986 to make improvements related to tax administration.
June 27, 2024
Status:Introduced in House
Congress:118
Words:1,319
The Tax Administration Simplification Act (H. R. 8864) proposes several changes to the Internal Revenue Code. The bill aims to simplify tax administration by recognizing electronic submissions to the IRS as valid on the date they are sent, extending the deadline for S...
Simple Explanation
The Tax Administration Simplification Act wants to make doing taxes easier by allowing electronic filings to count on the day they're sent, giving more time for certain businesses to make choices about their taxes, and moving some tax payment due dates to later.
H. R. 8882 — To amend the Internal Revenue Code of 1986 to treat amounts paid for private umbilical cord blood, or umbilical cord tissue, banking services as medical care expenses.
June 28, 2024
Status:Introduced in House
Congress:118
Words:326
H.R. 8882 proposes an amendment to the Internal Revenue Code of 1986 to classify payments made for the storage of private umbilical cord blood or tissue as medical care expenses. This means that such payments could qualify for tax deductions when filed as medical expenses if...
Simple Explanation
H.R. 8882 is a plan to let people save money on their taxes if they pay for special banks to store something called umbilical cord blood and tissue, which are tiny bits from babies that can help with health in the future. To do this, the special banks must meet certain rules to be safe and good at what they do.
H. R. 10296 — To amend the Internal Revenue Code of 1986 to make expiring ABLE provisions permanent, improve accessibility and education for families, and for other purposes.
December 04, 2024
Status:Introduced in House
Congress:118
Words:2,247
H.R. 10296, also known as the “ABLE Tomorrow Act,” aims to amend the Internal Revenue Code to permanently extend and improve provisions related to ABLE accounts, which help people with disabilities save money. It removes previous expiration dates for increased contribution limits and allows...
Simple Explanation
The ABLE Tomorrow Act wants to help people with disabilities save money by making it easier for them to use special savings accounts called ABLE accounts forever, letting them save more and giving them more information about how these accounts work.
H. R. 9937 — To amend the Internal Revenue Code of 1986 to deny interest and depreciation deductions for taxpayers owning 50 or more single family properties.
October 04, 2024
Status:Introduced in House
Congress:118
Words:1,974
H.R. 9937, known as the “Stop Predatory Investing Act,” seeks to amend the Internal Revenue Code to prevent certain large property owners from benefiting from tax deductions. Specifically, it disallows interest and depreciation deductions for taxpayers who own 50 or more single family...
Simple Explanation
The Stop Predatory Investing Act wants to change the rules so that people who own lots of houses (50 or more) can't get certain money breaks, like not having to pay as much tax on interest and wear and tear. This is to make sure big landlords can't take unfair advantage and make housing tricky for others.
H. R. 8314 — To amend the Internal Revenue Code of 1986 to impose penalties with respect to contributions to political committees from certain tax exempt organizations that receive contributions from foreign nationals.
May 08, 2024
Status:Introduced in House
Congress:118
Words:715
H.R. 8314, titled the “No Foreign Election Interference Act,” aims to amend the Internal Revenue Code to impose financial penalties on certain tax-exempt organizations that contribute to political committees if these organizations receive donations from foreign nationals. The...
Simple Explanation
H.R. 8314 wants to make sure that organizations that don't pay taxes can't secretly help people in other countries give money to politicians. If they do, they might have to pay back twice the money, and if they do it more than twice, they could lose their special tax status.
H. R. 6778 — To amend the Internal Revenue Code of 1986 to expand the treatment of moving expenses to employees and new appointees in the intelligence community who move pursuant to a change in assignment that requires relocation, and for other purposes.
December 13, 2023
Status:Introduced in House
Congress:118
Words:537
H. R. 6778, known as the "Intelligence Community Workforce Agility Protection Act of 2023," aims to amend the Internal Revenue Code of 1986. It expands tax deductions and exclusions for moving expenses to include employees and new appointees in the intelligence community, who...
Simple Explanation
The bill wants to help people who work in secret jobs for the government when they have to move for their job, by letting them pay less on their taxes for the move. It also helps them with certain travel costs if their boss says it's okay.
H. R. 8279 — To amend the Internal Revenue Code of 1986 to clarify that gain or loss on the sale or exchange of certain coins or bullion is exempt from recognition.
May 07, 2024
Status:Introduced in House
Congress:118
Words:393
H.R. 8279 is a proposed bill that aims to amend the Internal Revenue Code of 1986. It seeks to make clear that when certain types of coins or bullion, specifically those made of gold, silver, platinum, or palladium, are sold or exchanged, any gain or loss from these...
Simple Explanation
H.R. 8279 is a bill that wants to change the rules so that if someone sells certain metal coins like gold or silver ones, they won't have to count any money they gain or lose as part of their taxes. This starts after December 31, 2024.
H. R. 5688 — To amend the Internal Revenue Code of 1986 to improve health savings accounts.
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February 26, 2024
Status:Reported in House
Congress:118
Words:2,499
The bill H.R. 5688 aims to improve health savings accounts (HSAs) by making several changes to the Internal Revenue Code. It provides that direct primary care service arrangements will not be classified as health plans, thus not affecting an individual's eligibility for an...
Simple Explanation
H.R. 5688 is a plan to make saving for healthcare easier by changing some rules, like making it clearer who can have special healthcare savings accounts and letting people move money from their flexible healthcare accounts to those savings accounts when they switch insurance.
S. 4234 — To amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation.
May 01, 2024
Status:Introduced in Senate
Congress:118
Words:481
S. 4234 seeks to amend the Internal Revenue Code of 1986 to classify certain retrofitted automatic fire sprinkler systems as 15-year property for depreciation purposes. This change aims to provide incentives for installing sprinkler systems by allowing owners faster...
Simple Explanation
The bill wants to make it easier and cheaper to put fire sprinklers in tall buildings by letting owners pay less tax over time. It says new sprinklers can be counted differently for tax purposes to save money.

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