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Search Results: keywords:"tax repeal"

  • S. 1224, also known as the "Repealing Illegal Freedom and Liberty Excises Act" or the "RIFLE Act," aims to amend the Internal Revenue Code of 1986 by eliminating the firearm transfer tax stated in Section 5811. The bill ensures that all related sections of the Code are...

    Simple Explanation

    S. 1224 is a plan to stop charging a special tax whenever someone buys a gun. This change won't let a different group, like the one that makes sure toys are safe, watch over guns.

  • S. 796 is a bill aimed at changing tax laws in the United States. It proposes to remove the corporate alternative minimum tax (CAMT), a requirement that corporations pay at least a minimum level of tax, regardless of deductions or credits. This bill would amend various...

    Simple Explanation

    In the bill S. 796, they want to change the rules so big companies don't have to pay a certain extra kind of tax anymore. This means companies might pay less money, but the government could get less money to use for things like building stuff or helping people.

  • 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...

    Simple Explanation

    This bill wants to stop charging a special tax that people have to pay when they buy or transfer a gun. It also makes sure that this change won't mean that another group, who checks if products are safe, will start checking guns too.

  • H.R. 1440 proposes an amendment to the Internal Revenue Code of 1986 that seeks to eliminate excise taxes on wagering activities. The bill, named the "Discriminatory Gaming Tax Repeal Act of 2025," intends to remove Chapter 35, which imposes taxes on wagering. This change...

    Simple Explanation

    H.R. 1440 is a plan to stop the special tax that people have to pay when they make bets or gamble over the internet. If this happens, there might be less money for the government to use for things like schools or parks.

  • 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.