H.R. 7903 aims to modify the Internal Revenue Code of 1986 to allow certain credits to be paid to residents and entities in Puerto Rico. Specifically, it changes the tax code so that public entities, non-profit organizations, and electric cooperatives in Puerto Rico can receive elective...

H.R. 9462, titled the “Educational Choice for Children Act of 2024,” aims to amend the Internal Revenue Code of 1986 to provide tax credits for taxpayers who donate to nonprofit organizations that offer scholarships to eligible students for elementary and secondary education....

H.R. 3797, known as the "Paperwork Burden Reduction Act," proposes changes to how certain health insurance coverage statements are given to individuals. The bill allows for an alternative method where individuals can request their health insurance statements instead of automatically receiving...

H.R. 7425 is a bill that aims to amend the Internal Revenue Code of 1986 to allow a tax deduction for certain expenses related to newborns. Taxpayers can deduct up to $5,000 for costs such as infant formula, baby bottles, diapers, an infant car seat, a baby stroller, and a crib, but not more...

S. 159, titled the "Human Trafficking Survivor Tax Relief Act," aims to modify the Internal Revenue Code of 1986. It seeks to provide a tax exemption for certain monetary awards received by survivors of human trafficking. Specifically, the bill excludes civil damages and...

H.R. 9059 seeks to amend the Internal Revenue Code of 1986 by introducing an excise tax credit specifically for certain heavy trucks that operate in power take-off mode, such as mobile mounted concrete boom pump vehicles. The bill outlines that if these vehicles do not meet specific...

H.R. 8938, known as the “Keep Every Extra Penny Act of 2024,” proposes an amendment to the Internal Revenue Code of 1986. The bill aims to exclude overtime pay from being considered as part of an individual's gross income for income tax purposes. This means that when...

H.R. 7983, titled the "Stop Executive Overreach on Trade Agreements Act," aims to modify the Internal Revenue Code of 1986. The bill seeks to clarify what qualifies as a "free trade agreement" when it comes to providing clean vehicle credits. It defines a free trade agreement...

The bill H.R. 8578 aims to amend the Internal Revenue Code of 1986 to create a tax credit for truck fleets using retreaded tires. Specifically, it proposes a credit for a percentage of the cost of retreaded tires that are both retreaded and purchased in the United States for...

The bill S. 5196 seeks to amend the Internal Revenue Code of 1986 to create a "New Homes Tax Credit." This proposed tax credit aims to encourage investments in housing development entities that fund the construction or renovation of homes for low- and moderate-income...

H. R. 9065 proposes an amendment to the Internal Revenue Code of 1986 to classify room air conditioners that meet the Energy Star Most Efficient criteria as qualified energy property. This inclusion would make them eligible for the energy efficient home improvement credit....

H. R. 10195 proposes changes to the Internal Revenue Code of 1986 to disallow the low-income housing tax credit for any entity that has diversity, equity, and inclusion initiatives. The bill specifies that even partnerships and S corporations with such initiatives will be...

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

H.R. 7252 seeks to amend the Internal Revenue Code of 1986 to enhance the Child and Dependent Care Tax Credit. The bill proposes to increase the applicable percentage for the credit to 50 percent, change the credit's income-related phaseout, and raise the creditable dollar...

S. 4344 aims to amend the Internal Revenue Code of 1986 by eliminating the firearm transfer tax. This bill, known as the "Repealing Illegal Freedom and Liberty Excises Act" or the "RIFLE Act," also includes conforming amendments to ensure the repeal is reflected in other...

H. R. 10468 proposes amendments to the Internal Revenue Code of 1986 to allow nonresident U.S. citizens to choose a new type of income tax based on their residency. This elective system would apply residency-based tax rules to these individuals and offer certificates of...

H. R. 7995 proposes changes to the Internal Revenue Code of 1986 to allow for more leeway in the time taxpayers have to file for refunds or credits when they have overpaid their taxes. Specifically, the bill introduces "equitable tolling" in situations where taxpayer action...

H.R. 8635, also known as the “Affordable Child Care Act”, proposes changes to the Internal Revenue Code of 1986 to increase the value of certain tax benefits for families with children and dependents. The bill seeks to double the child and dependent care credit, allowing...

The bill H. R. 9956 aims to change how personal service income earned through pass-thru entities is taxed. It focuses on investments and partnerships, seeking to treat certain gains and income that partners earn in these situations as ordinary income rather than capital...

H.R. 7993, also known as the “Estate Tax Rate Reduction Act,” seeks to amend the Internal Revenue Code of 1986 to lower the tax rate on estates, gifts, and generation-skipping transfers to 20%. The bill proposes changes to several sections of the Code to ensure consistency...

H. R. 8438 proposes changes to the Internal Revenue Code of 1986 to allow money from section 529 plans to be used for transportation and parking costs. These costs must be reasonable and related to attending an eligible educational institution, and must not exceed the...

H.R. 9843, known as the "Patriotic Investment Act," aims to amend the Internal Revenue Code of 1986 to encourage the sale of certain securities linked to the People’s Republic of China. The bill proposes treating gains from these securities as ordinary income and subjecting them to the...

H. R. 9856, also known as the "Accelerated Supply of Affordable Production Housing Act" or the "ASAP Housing Act," proposes changes to the Internal Revenue Code of 1986. It aims to create an exception to the existing volume cap for certain bonds, specifically those financing...

The H.R. 7744, titled the "Infant Formula Made in America Act of 2024," aims to amend the Internal Revenue Code of 1986 to provide financial incentives for domestic infant formula manufacturing projects. It proposes a 30% investment credit for eligible manufacturers who...

H.R. 6885, known as the “Presidential Ballot Integrity Act,” aims to amend the Electoral Count Act of 1887. The bill stipulates that the votes of electoral college members from a state will not be counted in a presidential election if the state does not have a major political party’s...

H.R. 8095 is a bill that seeks to amend the Internal Revenue Code of 1986 to extend the energy credit for electrochromic glass. Electrochromic glass is a type of glass that can change its light transmission properties using electricity, helping to heat or cool a building....

H. R. 7041 is a bill proposed to amend the Internal Revenue Code of 1986 by increasing the corporate tax rate for companies where the CEO or highest-paid employee earns over 50 times more than the median worker. The bill includes a system where the tax rate increase is based...

S. 5412 proposes to amend the Internal Revenue Code of 1986 by increasing the amount of money that can be excluded from taxable income for dependent care assistance programs. The bill seeks to raise the current exclusion limit from $5,000 ($2,500 for married individuals...

H. R. 6857 aims to update the Internal Revenue Code of 1986 to improve health savings accounts (HSAs). The bill proposes increasing contribution limits, allowing more types of insurance plans to be eligible for HSAs, and permitting rollovers from other accounts like FSAs and...

The bill, titled the "America's Clean Future Fund Act," aims to amend the Internal Revenue Code of 1986 to establish a carbon fee that will help reduce greenhouse gas emissions. It proposes creating an independent agency called the Climate Change Finance Corporation to finance clean energy...

S. 5457, titled the “Disaster Relief and Resilience Act,” proposes changes to the Internal Revenue Code of 1986. It allows certain taxpayers affected by federally declared disasters to transfer a portion of their general business credit carryforwards. This applies to credits...

H. R. 9256 proposes changes to the Internal Revenue Code of 1986, aiming to increase the tax deduction allowed for teachers who purchase classroom supplies out of their own pocket. The bill intends to raise the above-the-line deduction amount from $250 to $1000 and includes...

The bill S. 4740, titled the “Secure Family Futures Act of 2024,” proposes changes to the Internal Revenue Code of 1986. It aims to exclude certain debts held by insurance companies from being considered capital assets. This change affects how these companies report financial...

H. R. 190 is a proposed bill that aims to change the rules set by the American Rescue Plan Act regarding the reporting of payments by third-party settlement organizations, such as PayPal or Venmo. It reinstates previous exceptions for small, or "de minimis," payments. Under...

H.R. 9838, also known as the “End Polluter Welfare for Enhanced Oil Recovery Act of 2024,” seeks to amend the Internal Revenue Code of 1986. The bill proposes to eliminate the use of carbon oxide as a tertiary injectant for any project started after its enactment. Additionally, it aims to...

The bill, H.R. 9465, aims to amend the Internal Revenue Code of 1986 to create a new tax deduction for seniors. Seniors aged 65 or older can claim a deduction of up to $25,000, which decreases if their adjusted gross income exceeds $100,000. For joint returns or surviving spouses, the limits...

The H.R. 8915, known as the “Education and Workforce Freedom Act,” aims to modify the Internal Revenue Code of 1986. It allows 529 education savings accounts to cover a broader range of expenses as qualified higher education expenses. These include costs related to elementary...

S. 4771 proposes changes to the Internal Revenue Code of 1986 to make more people eligible for Health Savings Accounts (HSAs). Currently, only those with high deductible health plans can have HSAs, but the bill changes that to include anyone with any health insurance....

The bill H.R. 7360, titled the “Promoting Affordable Childcare for Everyone Act” or the “PACE Act”, aims to amend the Internal Revenue Code of 1986 to increase and make fully refundable the Child and Dependent Care Tax Credit. It also proposes to raise the maximum amount that...

H.R. 9060, also known as the “Biodiesel Tax Credit Extension Act of 2024,” aims to amend the Internal Revenue Code of 1986 to extend tax credits for both biodiesel fuels and biodiesel mixtures used as renewable diesel. Specifically, the bill proposes extending these credits...

H.R. 8826, known as the “Chip EQUIP Act,” aims to prevent companies that receive financial assistance for semiconductor projects from buying certain semiconductor manufacturing equipment from foreign entities considered concerning. The bill defines which equipment is ineligible and includes...

The H.R. 8619 bill aims to reform how S corporations are taxed and operates under the Internal Revenue Code of 1986. It includes provisions for handling gains when a shareholder dies, allows nonresident aliens and IRAs to be shareholders, and increases the amount of passive...

The bill, titled the "Affordable Housing Construction Act," seeks to amend the Internal Revenue Code of 1986 to enhance tax credits for low-income housing projects. Key changes include increasing the state housing credit ceiling and providing additional credit amounts for buildings that pay...

H.R. 9010 proposes an amendment to the Internal Revenue Code of 1986 to create universal savings accounts (USAs) for individuals in the United States. These accounts would be exempt from most taxes and could only be funded with cash contributions up to a limit of $10,000 per year, with...

S. 5148 proposes changes to the Internal Revenue Code of 1986, allowing certain family caregivers to contribute to a Roth IRA. A "qualified family caregiver" is defined as someone who cares for a child or an adult with special needs without pay for 500 or more hours a year...

The bill S. 4123 aims to amend the Internal Revenue Code of 1986 to establish rules for the tax treatment of personal service income earned through pass-thru entities. Specifically, it addresses the taxation of partnership interests transferred in connection with providing...

S. 4778 aims to modify the Internal Revenue Code of 1986 to make a specific tax exclusion permanent. This exclusion covers certain employer payments towards student loans provided through educational assistance programs. The change removes the previous expiration date for...

H.R. 10373, also known as the “Providing Real-World Education and Clinical Experience by Precepting Tomorrow’s Nurses Act” or the “PRECEPT Nurses Act,” proposes an amendment to the Internal Revenue Code of 1986 to create a $2,000 tax credit for eligible nurse preceptors. This credit is...

The bill H. R. 10314, known as the "National Resilience and Recovery Fund Act," aims to amend the Internal Revenue Code of 1986 to create a fund focused on national resilience and recovery. This fund will help finance various federal programs related to disaster mitigation...

H. R. 8291 aims to amend the Internal Revenue Code of 1986 to disallow certain tax-exempt organizations from funding election-related work. Specifically, it prevents these groups from either directly or indirectly providing financial support to states or local governments for...

S. 3657 aims to amend the Internal Revenue Code to improve the Child and Dependent Care Tax Credit. It proposes to increase the credit amount and make it refundable for certain taxpayers, meaning eligible families could receive money back even if they owe no taxes. The bill...

H.R. 7814 seeks to amend the Internal Revenue Code of 1986 to ensure that certain federally subsidized loan repayments for dental school faculty are not included in their gross income, potentially reducing their taxable income. The bill renames certain sections of existing...

S. 4931 is proposed legislation aiming to amend the Internal Revenue Code of 1986 to support the production of renewable chemicals in the United States. The bill introduces tax credits for companies that produce renewable chemicals and for investments in facilities specifically designed to...

H.R. 7400, also known as the "Inflation Relief Act," seeks to amend the Internal Revenue Code of 1986 by providing individuals with a refundable credit for a portion of their Federal income tax liability for the year 2024. The bill proposes that individuals can receive a...

The bill, titled the "Working Waterfront Disaster Mitigation Tax Credit Act," aims to amend the Internal Revenue Code of 1986. It proposes a 30% tax credit for investments in hazard mitigation projects related to working waterfront properties, with a maximum limit of $300,000 per taxpayer....

H. R. 9659 aims to amend the Internal Revenue Code of 1986 to offer tax benefits for rental housing projects aimed at members of the Armed Forces. The bill proposes that military basic housing allowances be excluded from income calculations for determining eligibility for...

H.R. 9354 aims to amend the Internal Revenue Code of 1986 by making certain temporary provisions of the child tax credit permanent and ensuring the credit is fully refundable. It proposes to increase the child tax credit amount from $1,000 to $2,000 and remove specific...

S. 4621 aims to modify the Internal Revenue Code of 1986 to eliminate income tax on cash tips received by individual taxpayers. It introduces a new deduction for cash tips included in reports to employers, allowing even those who do not itemize their deductions to benefit....

The bill S. 4275 aims to modify the Internal Revenue Code of 1986 to address the issue of "inverted corporations." An inverted corporation is a company that shifts its headquarters overseas to avoid paying U.S. taxes while still maintaining significant business operations in...

H. R. 7870, known as the “Tip Tax Termination Act,” proposes changes to the Internal Revenue Code of 1986. This bill aims to exempt certain tips, up to $20,000 annually, from being subject to income and employment taxes for five years starting after December 31, 2023. It...

H.R. 9914, known as the “Fresh Food Act,” seeks to amend the Internal Revenue Code of 1986 to provide tax incentives for opening grocery stores in underserved areas. The bill introduces tax credits for businesses that employ individuals and sell fresh produce, meat, and dairy in these areas....

H.R. 8895 proposes an amendment to the Internal Revenue Code of 1986, which would change how certain payments to foreign related parties are treated. Specifically, the bill states that if the payments to these foreign parties are subject to a foreign income tax rate of at least 15%, they will...

H.R. 7780, known as the "Safeguarding Investment Options for Retirement Act," aims to amend the Internal Revenue Code of 1986. It prohibits certain retirement plans from making investment decisions based on factors other than financial risk and return. The bill mandates that the assets in...

H. R. 10033 aims to amend the Internal Revenue Code of 1986 to extend the clean fuel production credit. This bill proposes changing the expiration date of the current clean fuel production credit from December 31, 2027, to December 31, 2037. The amendment will apply to fuel...

The bill H.R. 10521 is titled the "Complete America’s Great Trails Act" and aims to amend the Internal Revenue Code of 1986. It proposes to allow a tax credit for contributions that help conserve National Scenic Trails. This credit is determined by the fair market value of...

H.R. 8184, titled the “Growing and Preserving Innovation in America Act of 2024,” aims to amend the Internal Revenue Code of 1986. The bill proposes to repeal the planned reduction in the deduction for foreign-derived intangible income. This means that instead of decreasing the percentage of...

H.R. 9359 proposes changes to the Internal Revenue Code of 1986 to remove the requirement for Social Security benefits to be considered as part of a person's gross income, meaning that these benefits would no longer be taxable. The bill includes a provision to ensure that the...

H.R. 8506, also known as the "Bring Jobs Home Act," aims to amend the Internal Revenue Code of 1986 to promote domestic job creation by providing a 20% tax credit for businesses that relocate jobs from abroad to the United States. It specifies eligible insourcing expenses, requiring an...

H.R. 7983 is a bill introduced in the House of Representatives to amend the Internal Revenue Code of 1986. It defines a "free trade agreement" in the context of clean vehicle credits as an international agreement approved by Congress, which eliminates duties and restrictive...

H. R. 9164 aims to change the Internal Revenue Code of 1986 by making permanent a rule that lets employers pay off some of their employees' student loans without those payments being taxed. This means that employers can help their employees repay student loans without the...

H.R. 8401, known as the "Restaurant Service Charge Fairness Act," proposes changes to the Internal Revenue Code of 1986. The bill aims to allow employers to receive a tax credit for part of the Social Security taxes they pay on service charges given as wages to employees....

H.R. 8962 seeks to amend the Internal Revenue Code of 1986 by establishing a methane border adjustment mechanism. This mechanism would impose a tax on imported methane-producing substances like petroleum and natural gas, based on the methane emissions from the country where they were...

S. 4747 aims to change the tax rules for performing artists in the United States. The bill proposes to raise the income limit for artists to qualify for certain tax deductions, specifically for expenses related to their work. It also introduces adjustments based on living...

H.R. 8876, known as the "Low-Income Taxpayer Clinic Modernization Act of 2024," proposes changes to the Internal Revenue Code of 1986. The bill aims to remove the cap on the total grants that can be given to low-income taxpayer clinics, and also adjust the requirement for these clinics to...

H. R. 8435 aims to modify the Internal Revenue Code of 1986 to classify certain price protection payments as eligible rollover distributions. This change affects payments made under employee stock ownership plans for plan years ending before January 1, 2025, and after...

H. R. 7547, titled the "Young Adult Tax Credit Act," proposes changes to the Internal Revenue Code of 1986 to introduce a refundable tax credit for young adults aged 18 to 24. The bill allows eligible individuals or dependents to receive this credit in the form of monthly...

H. RES. 1576 allows the House of Representatives to consider and debate two separate bills. The first bill, H.R. 1449, aims to change the Geothermal Steam Act of 1970 by increasing the frequency of lease sales and requiring replacement sales. The second bill, H.R. 9495, seeks to amend the...

H. R. 9267 aims to clarify certain tax rules related to government-sponsored enterprises, such as the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association. Specifically, it amends the Internal Revenue Code of 1986 to specify that for certain regulations,...

H.R. 7577, also known as the “Creating Hospitality Economic Enhancement for Restaurants and Servers Act” or the “CHEERS Act,” proposes changes to the Internal Revenue Code of 1986. The bill seeks to classify energy-efficient kegs as energy-efficient commercial building property, making them...

S. 5008 proposes changes to the Internal Revenue Code of 1986 to modify the railroad track maintenance credit. The bill aims to increase the credit amount from $3,500 to $6,100 and introduce an adjustment for inflation starting in 2025. It also updates the definition of...

H. R. 10541, known as the “Trust and Modernization in Tax Governance Act” or the “TMTG Act,” aims to amend the Internal Revenue Code of 1986. It proposes a limit on the deferred recognition of gains for officers of the executive branch when they sell property to meet...

The bill titled "Tax Relief for Victims of Crimes, Scams, and Disasters Act" seeks to amend the Internal Revenue Code of 1986. It aims to bring back the deduction for personal casualty losses that was eliminated by the Tax Cuts and Jobs Act of 2017. The bill also allows...

H. R. 7830, introduced by Mr. Van Drew, proposes an amendment to the Internal Revenue Code of 1986. The bill aims to expand the eligibility for the surviving spouse filing status to individuals whose spouses have passed away within the last five taxable years, rather than the...

H. R. 8292, also known as the "Taxpayer Data Protection Act," seeks to amend the Internal Revenue Code of 1986 by raising the penalties for unauthorized disclosure of taxpayer information. The bill proposes increasing the maximum fine from $5,000 to $250,000 and doubling the...

H. R. 8293, known as the “American Donor Privacy and Foreign Funding Transparency Act,” proposes changes to the Internal Revenue Code of 1986. It requires tax-exempt organizations to publicly report any contributions they receive from foreign sources, detailing the amounts...

S. 3678 aims to amend the Internal Revenue Code of 1986 by extending the time frame for recognizing a qualified disaster when applying special rules for personal casualty losses. This extension will modify provisions from the Taxpayer Certainty and Disaster Tax Relief Act of...