Search Results: keywords:"tax credit modification"

  • S. 692 — To amend the Internal Revenue Code of 1986 to modify the clean fuel production credit to provide a special rate for sustainable vessel fuel.
    Status:Introduced in Senate
    Words:590

    S. 692 is proposed legislation that seeks to amend the Internal Revenue Code of 1986 to modify the clean fuel production credit. It introduces a special rate for sustainable vessel fuel, allowing it to qualify as transportation fuel under specified conditions, such as being...

    Simple Explanation

    The bill suggests giving special treatment to clean fuel made for boats, making it cheaper and helping the environment, but only if it meets certain rules. This special deal for boat fuel would last until 2035, starting from 2026.

  • H. R. 2507 — To amend the Internal Revenue Code of 1986 to modify the work opportunity credit for certain youth employees.
    Status:Introduced in House
    Words:844

    H. R. 2507, also known as the “Helping to Encourage Real Opportunities (HERO) for Youth Act of 2025,” aims to change the rules around the work opportunity tax credit for youth employees in the U.S. The bill extends the credit to cover year-round employment instead of just...

    Simple Explanation

    H. R. 2507 is a plan to help young people get jobs by giving businesses tax breaks when they hire them for more than just summer work. It also aims to help kids who aren't in school or working by giving extra tax breaks to businesses that hire them.

  • S. 5008 — To amend the Internal Revenue Code of 1986 to modify the railroad track maintenance credit.
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    Status:Introduced in Senate
    Words:385

    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...

    Simple Explanation

    S. 5008 is a plan to let companies fix train tracks and get more money back from taxes—from $3,500 to $6,100—starting in 2025, with extra adjustments so it can keep up with the cost of living.