Search Results for keywords:"treasury department"

Search Results: keywords:"treasury department"

S. 4911 — To amend the Internal Revenue Code to allow employers to contribute to ABLE accounts in lieu of retirement plan contributions.
July 31, 2024
Status:Introduced in Senate
Congress:118
Words:1,174
S. 4911, known as the “ABLE Employment Flexibility Act,” proposes changes to the Internal Revenue Code to allow employers to contribute directly to ABLE accounts for eligible individuals as an alternative to retirement plan contributions. It ensures that these contributions...
Simple Explanation
S. 4911 wants to let companies put money into special savings accounts called ABLE accounts to help people with disabilities, instead of just putting money into retirement plans. This bill makes sure that doing this is okay with tax rules and tries to keep it fair for everyone working at the company.
H. R. 7162 — To create children’s lifetime savings accounts, and for other purposes.
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January 31, 2024
Status:Introduced in House
Congress:118
Words:7,793
H.R. 7162, also known as the "401Kids Savings Account Act of 2024," proposes the creation of children's lifetime savings accounts in the United States. The bill outlines how these savings accounts, called 401Kids Accounts, would be established for every eligible child at...
Simple Explanation
The 401Kids Savings Account Act of 2024 is like giving every kid in the U.S. a special piggy bank that the government helps fill up each year, which they can use for things like school or buying a home when they grow up. The bill makes sure kids, especially those who need extra help, get money added to these piggy banks, so they have money saved for when they really need it later in life.
S. 3814 — To prohibit actions that would authorize conduct of official United States Government business in the Gaza Strip or the West Bank.
February 27, 2024
Status:Introduced in Senate
Congress:118
Words:486
S. 3814, known as the "Terminating Unlawful Negligence and Nullifying Exemptions and Licenses to Sanctions Act of 2024" or the "TUNNELS Act of 2024," aims to restrict the President from taking actions that would allow U.S. government business to occur in the Gaza Strip or...
Simple Explanation
The "TUNNELS Act of 2024" is a proposal that wants to make sure the President can't let the U.S. do business in certain areas unless it follows rules against supporting bad guys, and it would take back old decisions that made it easier to avoid these rules.
S. 3625 — To amend title 31, United States Code, to provide small businesses with additional time to file beneficial ownership information, and for other purposes.
January 18, 2024
Status:Introduced in Senate
Congress:118
Words:376
S. 3625, titled the “Protect Small Business and Prevent Illicit Financial Activity Act,” seeks to extend the timeframe for small businesses to submit beneficial ownership information. It amends Section 5336(b)(1) of title 31, United States Code, by providing small businesses...
Simple Explanation
In simple terms, this bill wants to give small businesses more time—90 days—to share important information about who owns them, but it also makes it harder for these businesses to ask for more time if they run into problems.
H. R. 7780 — To amend the Internal Revenue Code of 1986 to prohibit certain retirement plans from making investment decisions on the basis of factors other than financial risk and return factors.
March 21, 2024
Status:Introduced in House
Congress:118
Words:530
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...
Simple Explanation
H.R. 7780 is a plan to make sure that when people save money for retirement, the money is only invested based on if it can make more money, not based on other things like helping the environment.
H. R. 7781 — To require a report on the economic and national security risks posed by the use of artificial intelligence in the commission of financial crimes, including fraud and the dissemination of misinformation, and for other purposes.
March 21, 2024
Status:Introduced in House
Congress:118
Words:727
H.R. 7781, also known as the "Artificial Intelligence Practices, Logistics, Actions, and Necessities Act" or the "AI PLAN Act," requires a report to be submitted to Congress on the risks associated with using artificial intelligence in financial crimes such as fraud and misinformation. The...
Simple Explanation
The AI PLAN Act wants important people in the U.S. government to write a report about how bad guys might use smart computers, like robots, to do bad things with money or spread lies. They need to figure out ways to stop this and tell everyone what they need to keep these smart computers from being used for bad stuff.
H. R. 7358 — To provide for a limitation on funds to implement, administer, or enforce certain general licenses issued by the Office of Foreign Assets Control of the Department of the Treasury.
February 14, 2024
Status:Introduced in House
Congress:118
Words:337
H. R. 7358, titled the "No Carveouts for Terrorists Act," aims to stop the use of federal funds to enforce specific licenses granted by the Office of Foreign Assets Control (OFAC) of the Department of the Treasury. These licenses were issued on January 17, 2024. The bill...
Simple Explanation
The "No Carveouts for Terrorists Act" is a rule that wants to stop the U.S. government from spending money to allow certain permissions about sending or trading things with a group called Ansarallah, which is on a list of bad guys. If new permissions are needed, Congress has to say okay before they can be used.
H. R. 4768 — An Act To require the Secretary of the Treasury to instruct the United States Executive Directors at the international financial institutions to advocate for investment in projects that decrease reliance on Russia for agricultural commodities.
January 16, 2024
Status:Referred in Senate
Congress:118
Words:433
H.R. 4768, known as the "No Russian Agriculture Act," instructs the U.S. Secretary of the Treasury to direct the United States Executive Directors at international financial institutions to advocate for projects that reduce reliance on Russia for agricultural commodities like fertilizer and...
Simple Explanation
The "No Russian Agriculture Act" is a rule that tries to help the world not depend on food and farm supplies from Russia, like grain and fertilizer. It asks important people from the U.S. to support projects that do this, but it also has a special rule allowing changes if needed.
H. R. 8320 — To allow taxpayers to indicate whether the Federal income taxes they pay should be used for domestic or international purposes, to rescind certain balances made available to the Internal Revenue Service, and for other purposes.
May 08, 2024
Status:Introduced in House
Congress:118
Words:503
H. R. 8320 is proposed legislation allowing U.S. taxpayers to choose whether their federal income taxes should be spent on domestic or international matters. Each tax form will have a section for taxpayers to make this choice, and the government will publicly report the...
Simple Explanation
H.R. 8320 is a plan that lets people decide if their tax money should help with things at home or in other countries, and it also takes back some money that was going to the tax office.
H. R. 7861 — To require the Secretary of the Treasury to mint commemorative coins in recognition of Paul Laurence Dunbar.
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April 02, 2024
Status:Introduced in House
Congress:118
Words:1,649
H.R. 7861 proposes that the Secretary of the Treasury mint special coins to honor Paul Laurence Dunbar, a notable African-American poet. The bill mandates the creation of gold, silver, and half-dollar coins, each with specific denominations and design requirements. The coins will be available...
Simple Explanation
H.R. 7861 is a plan for the U.S. government to make special coins to honor Paul Laurence Dunbar, a famous poet. The coins will be sold to people, and the extra money from these sales will help a school and community projects, but the bill makes sure that making the coins doesn't cost the government any extra money.
H. R. 9557 — To provide additional benefits to American workers whose employment has been impacted as a result of the transition to a clean energy economy.
September 12, 2024
Status:Introduced in House
Congress:118
Words:3,732
H.R. 9557, known as the "American Energy Worker Opportunity Act of 2024," aims to support American workers affected by the shift to a clean energy economy. It proposes the establishment of an Office of American Energy Workers within the Treasury Department to manage benefits...
Simple Explanation
The American Energy Worker Opportunity Act of 2024 is a plan to help people who lose their jobs because the world is using more green energy. It wants to give them money and help them find new jobs, teach them new skills, and make sure they keep their health insurance.

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