H.R. 1347, also known as the American Investment in Manufacturing and Main Street Act (AIMM Act), is a bill introduced to modify the Internal Revenue Code of 1986. The bill aims to make permanent the allowance for depreciation, amortization, or depletion when...
H.R. 1347 is a plan that helps businesses by letting them keep using a special money-saving trick called depreciation forever. This means they can keep more money when they pay their taxes, starting from 2022.
The bill S. 199 aims to amend the Internal Revenue Code of 1986 to introduce special tax rules for certain residents of Taiwan who earn income from sources within the United States. It proposes changes to lower tax rates and withholding requirements on specific types of...
S. 199 is a bill that tries to make it easier for people living in Taiwan who earn money from the United States to pay less tax and avoid paying taxes twice on the same money. It also suggests plans for the U.S. and Taiwan to make an agreement to ensure fair tax treatment for both sides.
S. 445, known as the “Carried Interest Fairness Act of 2025,” aims to amend the Internal Revenue Code of 1986 to change how personal service income earned from pass-thru entities is taxed. Specifically, it addresses the taxation of income derived from partnership interests...
S. 445 wants to make sure money made from managing other people's investments is taxed like regular paycheck money instead of lower tax rates, closing some tricky loopholes to make it fair and clear.
In H. RES. 206, the House of Representatives recognizes the importance of the "stepped-up basis" as defined under section 1014 of the Internal Revenue Code. This provision allows people who inherit assets like land or buildings to adjust the value for tax purposes to the...
In H. RES. 206, the House of Representatives says it's important for children to get family farms and small businesses without having to pay a lot of taxes. They want to keep a rule that helps people who inherit these businesses by adjusting the value to today's prices so it's not too expensive.
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,...
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.
H.R. 9452, titled the “Common Sense Real Estate Consumer Rights Protection Act of 2024,” seeks to provide antitrust exemptions for state-licensed real estate brokers, their salespersons, and any trade associations they might belong to. It emphasizes that the regulation and...
This bill wants to let real estate agents and their groups have their own special rules so they don't always have to follow big national rules. It believes that each state should be able to make its own rules about selling houses and buildings.
The bill S. 5233, titled the “No Capital Gains Allowance for American Adversaries Act,” seeks to amend the Internal Revenue Code of 1986 to treat gains and dividends from certain countries of concern as ordinary income, not as capital gains. These countries include China...
The No Capital Gains Allowance for American Adversaries Act is a rule that treats money made from certain countries like China and Russia as regular earnings instead of special earnings, making taxes higher on them, starting January 2025.
H.R. 424 is a bill aimed at reimbursing U.S. states for expenses related to border security. Given that border security is primarily a federal responsibility, states like Texas have had to spend a significant amount of their budget on this issue. The bill proposes that states...
H.R. 424 is a plan to give money back to states like Texas for spending a lot on protecting the borders, which is usually the job of the whole country, but the bill has some unclear parts about what counts as spending for borders and doesn't check if the amounts are right.
The bill, known as the "Navajo-Gallup Water Supply Project Amendments Act of 2025," aims to amend the Northwestern New Mexico Rural Water Projects Act. It includes updates like redefining project terms, expanding the service area to include more communities, managing land and trust funds for...
The bill wants to make a project that brings water to more places in New Mexico even better by changing some rules. It talks about using more money to help more communities get the water they need.
The Catastrophic Risk Transfer Act of 2025 aims to amend the Internal Revenue Code to create a tax system for companies that handle catastrophic risks, like major natural disasters, to ensure they have enough capital to cover potential insurance losses. These companies must...
The Catastrophic Risk Transfer Act of 2025 wants to make sure that special companies, which protect against big disasters like hurricanes, have enough money by making new rules about how they should pay taxes and handle money. These rules help make sure that the companies and their helpers stick to their main job of handling big risks, while also being fair and clear about how they pay their share of taxes.
S. 458 is a proposed legislation introduced in the 119th Congress. The bill aims to amend the Internal Revenue Code of 1986 by repealing the rule that includes Social Security benefits as part of a person's gross income for tax purposes. This change would mean that Social...
This bill wants to stop making people pay taxes on the money they get from Social Security, like how Grandma gets her check each month. It says that the government should not raise taxes to make up for the money they won't get because of this change.
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...
This bill wants to make people pay more taxes if they own certain money-related things from China, so they will want to sell them. It hopes to make these things less interesting to own by making any profits from them cost more in taxes.
Senate Bill 1898 proposes changes to the Northwestern New Mexico Rural Water Projects Act to enhance its implementation. The bill seeks to facilitate the delivery of water to certain Navajo Nation communities and expand service areas in Arizona and New Mexico. It establishes funds for...
The bill wants to make sure more water gets to some Native American communities by changing how an old water project works, giving more money to help finish building it, and making rules about taking care of it.
H.R. 904 proposes to change the Internal Revenue Code of 1986 by stopping the requirement to include Social Security benefits as part of a person's gross income for tax purposes. This means that individuals receiving Social Security would no longer have to pay federal income...
The bill wants to stop making people pay taxes on their Social Security money, which is like a monthly allowance given to people when they get old or can't work. It will also make sure that the money needed for these allowances doesn't run out, even if the government gets less money from taxes.
Showing 1 to 14 of 14 results