Search Results: keywords:"national deficit reduction"

  • H. R. 446 — To amend the Internal Revenue Code of 1986 to increase the rate of the excise tax on investment income of private colleges and universities.
    Status:Introduced in House
    Words:272

    H. R. 446 aims to amend the Internal Revenue Code of 1986 by increasing the excise tax on investment income of private colleges and universities from 1.4 percent to 21 percent. The additional revenue generated from this tax increase is intended to be used initially to reduce...

    Simple Explanation

    H.R. 446 is about making private colleges and universities pay a lot more money on the money they make from investments, going from 1.4% to 21%, which is like making a kid give a much bigger piece of their cookie to help out with the grown-ups' bills.

  • H. R. 463 — To amend the Internal Revenue Code of 1986 to expand the earned income and child tax credits, and for other purposes.
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    Status:Introduced in House
    Words:15,117

    The bill H. R. 463, titled "Lower Your Taxes Act," aims to amend the Internal Revenue Code of 1986 to expand the earned income and child tax credits. This includes increasing the eligibility and benefits of these credits, allowing refundable child tax credits with monthly advance payments,...

    Simple Explanation

    The bill, called the "Lower Your Taxes Act," wants to give more money back to families and people who earn less by expanding special tax credits. It also includes making some people and businesses pay more taxes, all to help our country have less debt.