Taxation

To provide for the extension of taxes funding the Airport and Airway Trust Fund and to require the designation of certain airports as ports of entry.

United States · United States Congress · 5 June 2023

This bill extends certain excise taxes related to air travel. It also requires the designation of certain airports as ports of entry. First, the bill extends through September 30, 2028, the authority for the Federal Aviation and Administration to collect various taxes and fees to fund the Airport and Airway Trust Fund, including taxes on aviation fuel and airline tickets. Second, the bill requires the President to designate certain primary airports near the border as ports of entry and terminate the user fee requirement for customs services at these airports.

DEPARTMENT OF DEFENSE APPROPRIATIONS FOR FISCAL YEAR 2024

United States · United States Senate · 1 June 2023

CLEAR Act of 2023

United States · United States Congress · 1 June 2023

Comprehensive Legislation Ensuring Accountability and Responsiveness Act of 2023 or the CLEAR Act of 2023 This bill requires the Department of the Treasury to submit any proposed or temporary regulation, prior to its publication, to the National Taxpayer Advocate for comment on the impact of such regulation on taxpayer rights or taxpayer burden. Treasury must consider the comments of the National Taxpayer Advocate before prescribing any final regulation that supersedes a proposed or temporary regulation.

Modernizing Agricultural and Manufacturing Bonds Act

United States · United States Congress · 1 June 2023

Modernizing Agricultural and Manufacturing Bonds Act This bill modifies provisions relating to qualified small issue bonds for manufacturing purposes by expanding the definition of manufacturing facility to include a facility that (1) is used in the creation or production of intangible property; or (2) is functionally related, subordinate to, and located on the same site as a facility used in the manufacturing or production of tangible or intangible personal property. The bill also increases from $10 million to $30 million the maximum bond size limitation. The bill modifies requirements for private activity bond financing for first-time farmers. The modified provisions (1) increase from $450,000 to $1 million (adjusted annually for inflation) the amount of bond proceeds that may be used by a first-time farmer to acquire land for farming purposes, (2) repeal the separate dollar limitation on the use of bond proceeds for used farm equipment, and (3) revise the definition of substantial farmland to determine farm size by reference to the average (instead of median) size of a farm in the county in which the farm is located.

Grid Resiliency Tax Credit

United States · United States Congress · 1 June 2023

A bill to amend the Internal Revenue Code of 1986 to provide special rules for purposes of determining if financial guaranty insurance companies are qualifying insurance corporations under the passive foreign investment company rules.

United States · United States Congress · 1 June 2023

This bill sets forth special tax rules for determining whether financial guaranty insurance companies are qualifying insurance corporations under the passive foreign investment company rules.

FISCAL YEAR 2024 BUDGET REQUEST FOR THE MIDDLE EAST AND NORTH AFRICA

United States · United States Senate · 31 May 2023

Electric Motorcycle Parity Act of 2023

United States · United States Congress · 31 May 2023

Electric Motorcycle Parity Act of 2023 This bill expands the new clean vehicle tax credit established by the Inflation Reduction Act to include clean vehicles with fewer than four wheels (e.g., motorcycles). To qualify for the credit, such vehicles must meet certain existing requirements for clean vehicles, such as those relating to manufacturing specifications. Additionally, the vehicles must meet battery capacity requirements; be manufactured primarily for use on public streets, roads, and highways; and be capable of achieving a speed of 45 miles per hour or greater.    

Agrivoltaics Research and Demonstration Act of 2023

United States · United States Congress · 31 May 2023

Agrivoltaics Research and Demonstration Act of 2023 This bill authorizes the Department of Agriculture (USDA) to study and establish research and demonstration sites on agrivoltaic systems. The bill defines agrivoltaic system as a system under which solar energy production and agricultural production, including crop or animal production, occur in an integrated manner on the same piece of land through the duration of a project. Specifically, the bill directs USDA to study agrivoltaic systems, which includes conducting a review of current research and identifying research gaps. USDA must also develop a five-year plan for using USDA's research, extension, outreach, conservation, and renewable energy activities to better support agrivoltaic systems that do not displace agricultural production. USDA must also develop a definition for agrivoltaic system for the purposes of incorporating these systems into federal agriculture and energy programs, and investment tax credits. In addition, the Agricultural Research Service must establish and maintain a network of agrivoltaic systems research and demonstration sites in multiple U.S. regions to investigate increasing agricultural productivity and profitability, enhancing agricultural resilience, protecting biodiversity, and increasing economic opportunities in rural communities.

Restoring Vehicle Market Freedom Act of 2023

United States · United States Congress · 30 May 2023

Retail Revitalization Act of 2023

United States · United States Congress · 30 May 2023

Retail Revitalization Act of 2023 This bill amends tax rules for real estate investment trusts (REITs). It increases (1) the share of equity investments a distressed retail tenant may receive from a REIT from 10% to 50%, and (2) the equity share for regular tenants from 10% to 30%. The bill also allows taxable REIT subsidiaries to accept equity in a retail tenant's businesses as a form of rent, subject to certain restrictions.

Red Tape Reduction Act of 2023

United States · United States Congress · 30 May 2023

Red Tape Reduction Act of 2023 This bill modifies the reporting requirements for payments made in settlement of payment card and third party network transactions. Under current law, settlement organizations are not required to report information for transactions that do not exceed $600. This bill increases the reporting threshold so that settlement organizations are exempt from reporting requirements if the applicable transactions do not exceed $10,000, or there are no more that 50 such transactions.

Workforce Development Through Post-Graduation Scholarships Act of 2023

United States · United States Congress · 30 May 2023

Workforce Development Through Post-Graduation Scholarships Act of 2023 This bill excludes from gross income, for income tax purposes, post-graduation scholarship grants. The bill defines a post-graduation scholarship grant as any grant program that is established by a tax-exempt organization that, among other things, repays a portion of a student's education loan.  To be eligible for these grants, a grant recipient must live and work in a community that has a bachelor's degree attainment rate below the state or national average.  

Fiscal Responsibility Act of 2023

United States · United States Congress · 29 May 2023

Fiscal Responsibility Act of 2023 This bill increases the federal debt limit, establishes new discretionary spending limits, rescinds unobligated funds, and expands work requirements for federal programs. Specifically, the bill suspends the federal debt limit through January 1, 2025, and increases the limit on January 2, 2025, to accommodate the obligations issued during the suspension period. In addition, the bill establishes new discretionary spending limits for FY2024 and FY2025 that are enforced with sequestration (i.e., automatic spending cuts). It also changes the limits to 1% below the FY2023 base funding levels if a continuing resolution is in effect on or after January 1, 2024, or on or after January 1, 2025, because all 12 regular appropriations bills were not enacted by the end of the prior year. The bill also includes provisions that rescind certain unobligated funds that were provided to address COVID-19 and to the Internal Revenue Service; provide funding for the Department of Veterans Affairs Cost of War Toxic Exposure Fund; provide funding for the Department of Commerce Nonrecurring Expenses Fund; provide statutory authority through 2024 for the requirement for agencies that propose certain administrative actions that will increase direct spending to also propose at least one administrative action that will decrease direct spending by at least the same amount (commonly known as administrative pay-as-you-go rules); terminate the suspension of federal student loan payments; expand the work requirements for the Supplemental Nutrition Assistance Program (SNAP) and the Temporary Assistance for Needy Families (TANF) program; and expedite the permitting process for certain energy projects.

OVERSIGHT HEARING ON EXAMINING THE PRESIDENT'S FISCAL YEAR 2024 BUDGET REQUEST FOR THE BUREAU OF INDIAN AFFAIRS AND OFFICE OF INSULAR AFFAIRS

United States · United States House of Representatives · 25 May 2023

Save Affordable Housing Act of 2023

United States · United States Congress · 25 May 2023

Save Affordable Housing Act of 2023 This bill revises the low-income housing tax credit to repeal the qualified contract option for a building that received its allocation of housing credit dollar amount before January 1, 2023, or received before that date, a determination from the bond issuer or housing credit agency of its eligibility to receive an allocation of a housing credit dollar amount. Under current law, properties eligible for the low-income housing tax credit are subject to a 30-year affordability period, during which the value of properties is set at a below market rate. The qualified contract option allows property owners, in some cases, to convert to market rate after 15 years.

Essential Workers for Economic Advancement Act

United States · United States Congress · 25 May 2023

Essential Workers for Economic Advancement Act This bill establishes a new nonimmigrant visa for temporary nonagricultural workers (H-2C visa) to fill jobs that have remained open for a certain amount of time and are located in an area where the unemployment rate is 7.9% or less. This visa shall only be available for certain occupations, and those requiring a bachelor's degree or higher level of education shall not be eligible. The bill imposes various requirements related to H-2C positions, such as requiring that the employer make certain efforts to recruit a U.S. worker beforehand. The employer must register the opening before filling it with an H-2C worker, and the Department of Homeland Security (DHS) shall maintain a publicly available registry of registered positions. For the first fiscal year after the bill's enactment, no more than 65,000 positions may be registered. For subsequent fiscal years, the number shall be increased or decreased depending on how many positions were registered the previous year and how quickly the allotment was filled. A certain number of allocations shall be reserved for small businesses. An employer seeking to hire H-2C workers shall register with DHS and provide documentation establishing that the employer meets various qualifications. An employer may become ineligible for registration for certain actions, such as having been penalized for a pattern of willful violation of wage and hour laws. H-2C workers shall not be entitled to certain federal public benefits. The Bureau of the Census shall report to Congress on the impact of the H-2C program.

Tax Deadline Simplification Act

United States · United States Congress · 25 May 2023

Tax Deadline Simplification Act This bill requires individual estimated income tax installments to be paid on a quarterly basis.

Pay Less at the Pump Act

United States · United States Congress · 25 May 2023

Pay Less at the Pump Act This bill eliminates the excise tax on domestic crude oil and imported petroleum products (known as the petroleum Superfund tax rate) beginning on January 1, 2023. The bill also eliminates the authority for advances to the Hazardous Substance Superfund from the General Fund of the Treasury. Under current law, the petroleum Superfund tax rate imposed is 16.4 cents per barrel (indexed annually for inflation). Amounts collected from this tax are deposited into the Hazardous Substance Superfund, which finances the remediation of certain environmentally contaminated sites. Further, under current law, the authority for advances to be appropriated to the Hazardous Substance Superfund extends through 2032. 

To amend the Internal Revenue Code of 1986 to provide a tax credit for expenses for household and elder care services necessary for gainful employment.

United States · United States Congress · 25 May 2023

This bill allows a new tax credit for a taxpayer's employment-related expenses necessary to care for a dependent who has attained age 50. Employment-related expenses include (1) expenses for household services; and (2) expenses for the care of the dependent, including respite care and hospice care. The expenses must be incurred to enable the taxpayer to be gainfully employed for any period for which there are one or more dependents that qualify for the credit. The bill limits the amount of such credit to $3,000 for the care of one dependent and $6,000 for the care of two or more dependents of the taxpayer in a taxable year.

Adoption Tax Credit Refundability Act of 2023

United States · United States Congress · 25 May 2023

Adoption Tax Credit Refundability Act of 2023 This bill makes the tax credit for adoption expenses refundable.

Expressing the sense of the House of Representatives on the value of a tax agreement with Taiwan.

United States · United States Congress · 25 May 2023

This resolution encourages the President and the Senate to work with the House of Representatives to avoid or mitigate double taxation between the United States and Taiwan. The resolution also encourages the President to seek additional ways to increase U.S. trade, technology, and investment ties with Taiwan.

Defending American Jobs and Investment Act

United States · United States Congress · 25 May 2023

Defending American Jobs and Investment Act This bill provides for the enforcement of remedies against foreign countries that have extraterritorial or discriminatory taxes. Specifically, the bill requires the Department of the Treasury to periodically submit a report to Congress that lists each foreign country that has one or more extraterritorial or discriminatory taxes. Treasury must commence enhanced bilateral engagement with each foreign country included in the report. This engagement must (1) express the concern of the United States with respect to the adverse trade and economic effects of tax policies that violate bilateral tax treaties and international tax norms, (2) urge the repeal of extraterritorial and discriminatory taxes that target U.S. persons, and (3) advise the foreign country of remedial actions (as outlined by this bill). The bill increases income tax and withholding tax rates on certain foreign citizens, corporations, and partnerships of any foreign country listed in Treasury's report. The bill provides the executive branch with additional tools to enforce against extraterritorial and discriminatory taxes. These tools include authorizing the President to prohibit government contracting or procurement of goods or services from a foreign country listed in Treasury's report, directing Treasury to consider these taxes in assessing whether to enter into or update a bilateral tax treaty with the foreign country, and requiring the U.S. Trade Representative and the Department of Commerce to consider these taxes in assessing whether to enter into any free trade agreement or executive agreement with the foreign country.

Access Technology Affordability Act of 2023

United States · United States Congress · 25 May 2023

Access Technology Affordability Act of 202 3 This bill allows a refundable tax credit equal to the amounts paid for qualified access technology for use by a blind individual who is the taxpayer, the taxpayer's spouse, or a dependent of the taxpayer. Qualified access technology is hardware, software, or other information technology with the primary function of converting or adapting information that is visually represented into forms or formats usable by blind individuals. The credit is limited to (1) costs that are not compensated by insurance or otherwise, and (2) an aggregate amount of $2,000 per blind individual in any period of three consecutive taxable years. The credit must be adjusted for inflation after 2024 and terminates after 2028.

Financing Our Energy Future Act

United States · United States Congress · 25 May 2023

Financing Our Energy Future Act This bill expands the types of partnerships that qualify for treatment as publicly traded partnerships instead of as corporations for tax purposes. Under current law, partnerships that meet certain gross income requirements (i.e., at least 90% of the partnership's gross income in a taxable year consists of qualifying income) are excepted from being treated as a corporation for tax purposes. This bill expands the sources of income that are considered qualifying income and make a partnership eligible for such an exception. Specifically, the bill provides that income derived from the generation of specified alternative energy, alternative fuel projects, or the associated property, storage, or transportation for such projects (e.g., the conversion of renewable biomass into renewable fuel or the storage or transportation of such fuel) is considered qualifying income.

Small Business Growth Act

United States · United States Congress · 25 May 2023

Small Business Growth Act This bill increases from $1 million to $2 million to the limitation on expensing of depreciable business assets. It also increases the asset threshold amount used to reduce the expensing limitation.

RTCP Revitalization Act

United States · United States Congress · 24 May 2023

RTCP Revitalization Act This bill amends the Department of Agriculture (USDA) Reimbursement Transportation Cost Payment Program (RTCP) to provide specified funds for the RTCP through FY2029 and each fiscal year thereafter. The RTCP provides reimbursement payments for geographically disadvantaged farmers and ranchers (e.g., those in Hawaii and Alaska) for a portion of the cost to transport agricultural commodities or inputs used to produce an agricultural commodity. The bill also removes a $15 million payment cap for any given fiscal year. Further, USDA may not impose a limitation on the amount of producer payments for any fiscal year that the program funds are equal to or exceed demand.

Put Zombie Donors to Rest Act

United States · United States Congress · 24 May 2023

Put Zombie Donors to Rest Act This bill requires a contributor to political organizations who uses a credit card to make online contributions to such organizations to disclose the billing address, and the credit verification value, of such credit card at the time a contribution is made. A credit verification value is a series of numbers on a credit card (usually on the back of the card) that provides additional security for a transaction by credit card.

Travel Trailer and Camper Tax Parity Act

United States · United States Congress · 24 May 2023

Travel Trailer and Camper Tax Parity Act This bill modifies the tax deduction for floor plan financing interest to include in the term motor vehicles eligible for such financing any trailer or camper that is designed to provide temporary living quarters for recreational, camping, or seasonal use and is designed to be towed by, or affixed to, a motor vehicle.

Protecting Federal Funds from Human Trafficking and Smuggling Act of 2023

United States · United States Congress · 24 May 2023

Protecting Federal Funds from Human Trafficking and Smuggling Act of 2023 This bill prohibits a nonprofit entity from receiving federal funds (and denies a tax exemption) unless the entity certifies compliance with certain federal laws (e.g., laws with respect to human trafficking and smuggling). The bill also establishes reporting requirements, including that the Government Accountability Office must annually report to Congress on those nonprofit entities that do not certify their compliance with these laws. Finally, the bill removes the provision of federal law that exempts nonprofit charitable organizations that provide federal public benefits from having to verify the eligibility of program participants.

EXAMINING THE FISCAL YEAR 2024 STATE AND FOREIGN OPERATIONS BUDGET REQUEST FOR EUROPE

United States · United States House of Representatives · 23 May 2023

OVERSIGHT HEARING ON EXAMINING THE PRESIDENT'S FISCAL YEAR 2024 BUDGET PROPOSAL FOR THE U.S. BUREAU OF RECLAMATION, U.S. FISH AND WILDLIFE SERVICE, NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, AND THE POWER MARKETING ADMINISTRATIONS

United States · United States House of Representatives · 23 May 2023

SAFE Act

United States · United States Congress · 22 May 2023

Simplify Automatic Filing Extensions Act or the SAFE Act This bill eliminates the penalty for failure to pay income tax for individual taxpayers who timely pay 125% of their income tax liability for the immediately preceding taxable year.

Workforce Development Through Post-Graduation Scholarships Act of 2023

United States · United States Congress · 22 May 2023

Service-Disabled Veteran Opportunities in Small Business Act

United States · United States Congress · 18 May 2023

Service-Disabled Veteran Opportunities in Small Business Act This bill requires the Small Business Administration (SBA) to provide employees at any federal agency that has not met the goal of awarding at least 3% of its prime contracts and subcontracts to small businesses owned by service-disabled veterans with training to increase the number of such contracts awarded. The SBA must report for each fiscal year a list of each agency that did not meet the contracting goal and the number of trainings the SBA provided.

STOP NJ CONGESTION Act

United States · United States Congress · 18 May 2023

Stop Taxation of Overburdened People from New Jersey by Correcting Obnoxious New Gimmick and Ensuring the Stability of Transportation Infrastructure from Obstinate Neighbors Act or the STOP NJ CONGESTION Act   This bill requires the Department of Transportation (DOT) to withhold 50% of National Highway Performance Program funds and Surface Transportation Block Grant program funds from each state that implements a congestion pricing system similar to that described in the environmental assessment titled Final Environmental Assessment and Draft Finding of No Significant Impact (FONSI) for Central Business District (CBD) Tolling Program, Manhattan, New York .   The bill also prohibits the implementation of projects under a DOT value pricing pilot program unless the project sponsor receives the consent of each affected state. Value pricing (also called congestion pricing) involves charging drivers on congested roadways during peak periods.

Home Advantage for American Families Act

United States · United States Congress · 18 May 2023

Home Advantage for American Families Act This bill requires any foreign person involved in a transaction related to the sale of residential property located in any of the 15 largest metropolitan statistical areas by population to report to the Department of the Treasury information for identifying the person purchasing the property, the amount and source of the funds received by the seller, the date and nature of the transaction, and other information deemed necessary. The bill also increases (1) from 15% to 30% the rate of withholding on the sales proceeds of U.S. real property interests, and (2) the low-income housing tax credit state ceiling.

Fiscal State of the Nation Resolution

United States · United States Congress · 18 May 2023

Fiscal State of the Nation Resolution This concurrent resolution requires the congressional budget committees to conduct an annual joint hearing to receive a presentation from the Comptroller General regarding (1) the Government Accountability Office's audit of the financial statement of the executive branch, and (2) the financial position and condition of the federal government.

CERTS Tax Exemption Act

United States · United States Congress · 18 May 2023

CERTS Tax Exemption Act This bill excludes from the gross income of an eligible provider of transportation services, for income tax purposes, grant amounts received under the Coronavirus Economic Relief for Transportation Services Act.

Restore the Partnership Act

United States · United States Congress · 18 May 2023

Restore the Partnership Act This bill establishes in the executive branch the Commission on Intergovernmental Relations of the United States. The commission shall, among other things (1) provide a forum for discussing ways to improve the administration and coordination of federal grant-in-aid, regulatory, tax, and other programs requiring intergovernmental cooperation; and (2) identify the intergovernmental impacts of rulings by the U.S. Supreme Court on federal, state, tribal, and local governments.

To amend the Internal Revenue Code of 1986 to allow for payments to certain individuals who dye fuel, and for other purposes.

United States · United States Congress · 18 May 2023

Bicycle Commuter Act of 2023

United States · United States Congress · 18 May 2023

Bicycle Commuter Act of 2023 This bill reinstates and expands the tax exclusion for employer-provided fringe benefits for bicycle commuting. It allows employees a bicycle commuting benefit equal to 30% of parking fringe benefits. The bill repeals the suspension period (2018-2025) applicable to such tax exclusion and revises definitions applicable to bicycle commuting benefits to make electric bicycles and certain scooters eligible for the tax exclusion.

Cut Red Tape For Online Sales Act

United States · United States Congress · 18 May 2023

Cut Red Tape For Online Sales Act This bill modifies requirements for third party settlement organizations to eliminate their reporting requirement with respect to the transactions of their participating payees unless they have earned $5,000 or more. A third party settlement organization is the central organization that has the contractual obligation to make payments to participating payees (generally, a merchant or business) in a third party payment network. The bill also requires entities that report income to to issue a plain-language description of the taxability of income reported on Form 1099-K.

STOP NJ CONGESTION Act

United States · United States Congress · 18 May 2023

Stop Taxation of Overburdened People from New Jersey by Correcting Obnoxious New Gimmick and Ensuring the Stability of Transportation Infrastructure from Obstinate Neighbors Act or the STOP NJ CONGESTION Act   This bill requires the Department of Transportation (DOT) to withhold 50% of National Highway Performance Program funds and Surface Transportation Block Grant program funds from each state that implements a congestion pricing system similar to that described in the environmental assessment titled Final Environmental Assessment and Draft Finding of No Significant Impact (FONSI) for Central Business District (CBD) Tolling Program, Manhattan, New York .   The bill also prohibits the implementation of projects under a DOT value pricing pilot program unless the project sponsor receives the consent of each affected state. Value pricing (also called congestion pricing) involves charging drivers on congested roadways during peak periods.

Bicycle Commuter Act of 2023

United States · United States Congress · 18 May 2023

Bicycle Commuter Act of 2023 This bill reinstates and expands the tax exclusion for employer-provided fringe benefits for bicycle commuting. It allows employees a bicycle commuting benefit equal to 30% of parking fringe benefits. The bill repeals the suspension period (2018-2025) applicable to such tax exclusion and revises definitions applicable to bicycle commuting benefits to make electric bicycles and certain scooters eligible for the tax exclusion.

Main Street Tax Certainty Act

United States · United States Congress · 18 May 2023

Main Street Tax Certainty Act This bill makes permanent the tax deduction for qualified business income. (Under current law, the deduction expires after December 31, 2025.) Qualified business income is defined as the net amount of qualified items of income, gain, deduction and loss with respect to any trade or business, excluding capital gains or losses, dividends, interest income, or income earned outside the U.S.

A bill to amend the Internal Revenue Code of 1986 to allow for payments to certain individuals who dye fuel, and for other purposes.

United States · United States Congress · 18 May 2023

Fiscal State of the Nation Resolution

United States · United States Congress · 18 May 2023

Fiscal State of the Nation Resolution This concurrent resolution requires the congressional budget committees to conduct an annual joint hearing to receive a presentation from the Comptroller General regarding (1) the Government Accountability Office's audit of the financial statement of the executive branch, and (2) the financial position and condition of the federal government.

American Infrastructure Bonds Act of 2023

United States · United States Congress · 18 May 2023

American Infrastructure Bonds Act of 2023 This bill allows the issuer of an American infrastructure bond a tax credit for 28% of the interest payable under such bond.

RTCP Revitalization Act

United States · United States Congress · 18 May 2023

RTCP Revitalization Act This bill amends the Department of Agriculture (USDA) Reimbursement Transportation Cost Payment Program (RTCP) to provide specified funds for the RTCP through FY2029 and each fiscal year thereafter. The RTCP provides reimbursement payments for geographically disadvantaged farmers and ranchers (e.g., those in Hawaii and Alaska) for a portion of the cost to transport agricultural commodities or inputs used to produce an agricultural commodity. The bill also removes a $15 million payment cap for any given fiscal year. Further, USDA may not impose a limitation on the amount of producer payments for any fiscal year that the program funds are equal to or exceed demand.