Taxation

End Hedge Fund Control of American Homes Act

United States · United States Congress · 5 December 2023

End Hedge Fund Control of American Homes Act This bill imposes an excise tax on hedge fund taxpayers that own a certain number of single-family residences in excess of a specified amount. The bill establishes the Housing Downpayment Trust Fund into which tax revenues from this bill shall be deposited to provide grants for down payment assistance to taxpayers purchasing a single-family residence.

Putting American Autoworkers First Act of 2023

United States · United States Congress · 5 December 2023

BOOST Act

United States · United States Congress · 1 December 2023

Broadening Online Opportunities through Simple Technologies Act or the BOOST Act This bill allows an individual taxpayer to elect a tax credit for 75% of qualified signal booster expenditures up to $400 in a single taxable year through 2027. The bill defines qualified signal booster expenditures as amounts paid for the purchase of any communications signal booster and other equipment for use by the taxpayer in a principal residence located in an unserved area. The booster is designed to increase the strength or range of a broadband communications signal.

Renewable Chemicals Act of 2023

United States · United States Congress · 30 November 2023

KOMBUCHA

United States · United States Congress · 30 November 2023

Keeping Our Manufacturers from Being Unfairly taxed while Championing Health Act or KOMBUCHA This bill exempts low alcohol by volume kombucha from the excise tax on wine and beer and related regulations. Kombucha is a fermented tea with a low alcohol content.

Promoting Domestic Energy Production Act

United States · United States Congress · 30 November 2023

Billionaires Income Tax Act

United States · United States Congress · 30 November 2023

EXAMINING THE NEED FOR A FISCAL COMMISSION REVIEWING H.R. 710, H.R. 5779, AND S. 3262

United States · United States House of Representatives · 29 November 2023

Snap Back Inaccurate SNAP Payments Act

United States · United States Congress · 29 November 2023

Snap Back Inaccurate SNAP Payments Act This bill requires states to recoup any overpayments of benefits made to Supplemental Nutrition Assistance Program (SNAP) recipients and adjusts the formula for determining a state's liability rate for overpayments. As background, the SNAP quality control system measures how accurately SNAP state agencies determine a household’s eligibility and benefit amount and determines overpayments of benefits and underpayments. States that have comparatively high payment error rates for two consecutive years are assessed a penalty (i.e., liability amount). The Food and Nutrition Service (FNS) must use a statutory formula to determine the liability amount. Under current law, FNS must set a tolerance level for excluding small payment errors (e.g., $54 or less in FY2023). This bill reduces the tolerance level for excluding small errors to $0 for FY2024 and each succeeding fiscal year. The bill also requires state agencies to recoup any overpayments of benefits made to SNAP beneficiaries. The bill adjusts the liability rate formula to reduce the state payment error rate based on the percentage of overpayments recouped by the state. Further, the bill increases the multiplier used in the formula to 25% (from 10%). 

Airport and Airway Extension Act of 2023, Part II

United States · United States Congress · 29 November 2023

Airport and Airway Extension Act of 2023, Part II This bill temporarily extends specific Federal Aviation Administration (FAA) programs and activities through March 8, 2024. For example, the bill extends the FAA Unmanned Aircraft Systems (UAS) pilot programs (e.g., the UAS Test Site Program and the UAS remote detection and identification pilot program); weather reporting programs; Remote Tower Pilot Program; and Essential Air Service Program. The bill also extends authorization for the Airport Improvement Program (AIP). (This program provides grants for planning, development, and noise compatibility projects at or associated with certain public-use airports.) Further, the bill extends through March 8, 2024, the FAA's authority for expenditures from the Airport and Airway Trust Fund (AATF) and to collect various taxes and fees to fund the AATF, including taxes on aviation fuel and airline tickets. (The AATF is the primary funding source for all major FAA accounts that fund federal aviation programs, with the remainder coming from general fund appropriations.)

KOMBUCHA

United States · United States Congress · 29 November 2023

Keeping Our Manufacturers from Being Unfairly taxed while Championing Health Act or KOMBUCHA This bill exempts low alcohol by volume kombucha from the excise tax on wine and beer and related regulations. Kombucha is a fermented tea with a low alcohol content.

Billionaire Minimum Income Tax Act

United States · United States Congress · 29 November 2023

Billionaire Minimum Income Tax Act This bill imposes a minimum tax on individual taxpayers whose net worth for the taxable year exceeds $100 million. The tax is equal to 25% of the sum of a taxpayer's taxable income, plus net unrealized gains for the taxable year. The tax may not exceed 40% of the amount by which the taxpayer's net worth exceeds $100 million.

To amend the Internal Revenue Code of 1986 to extend certain tax benefits related to empowerment zones to the District of Columbia.

United States · United States Congress · 28 November 2023

This bill designates an empowerment zone in the District of Columbia. (Empowerment zones are federally designated geographic areas where certain federal tax incentives and grants are allowed to increase investment and employment.)

Travel Trailer and Camper Tax Parity Act

United States · United States Congress · 27 November 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.

Health Disparity Zones Act of 2023

United States · United States Congress · 21 November 2023

Health Disparity Zones Act of 2023 This bill provides for the designation of Health Disparity Zones in certain geographic areas with documented and measurable health disparities. This designation, which expires 10 fiscal years after the bill's enactment, confers eligibility for certain grants, student loan repayment programs, and tax credits for those working to reduce health disparities and improve health outcomes in these zones. Specifically, community-based nonprofits or local government agencies, in coalition with health care providers, social service organizations, and others, may apply to the Department of Health and Human Services (HHS) for the designation. The application must include a plan to reduce health disparities and achieve other outcomes. In implementing the program, HHS must consult with, among others, the Department of Housing and Urban Development. When approving applications, HHS shall consider factors including geographic diversity and the commitment of supporting funds from the private sector. HHS (1) may award grants to organizations or agencies that applied for the designation to support activities aligned with their plans, and (2) must carry out a student loan repayment program for health care providers who agree to provide services in a Health Disparity Zone. In addition, the bill establishes tax credits for employers that hire, and individuals who work as, Health Disparity Zone workers.

Chemical Tax Repeal Act

United States · United States Congress · 17 November 2023

Chemical Tax Repeal Act This bill repeals the excise taxes on certain taxable chemicals and imported substances.

Russian War Crimes in Ukraine Tax Act

United States · United States Congress · 15 November 2023

Russian War Crimes in Ukraine Tax Act This bill imposes a 100% excise tax on certain assets of Russia and Belarus that have been frozen in connection with the invasion of Ukraine. The bill establishes the Ukraine Reconstruction Trust Fund to hold tax revenues generated by this bill. Such revenues shall be used for the benefit of Ukraine, including reconstruction and rebuilding efforts, humanitarian assistance, and the fostering of long-term economic growth. The Department of State must direct the U.S. Permanent Representative to the United Nations to use U.S. influence to encourage the transfer of capital gains on Russian sovereign assets to Ukraine.

Ending the Carried Interest Loophole Act

United States · United States Congress · 15 November 2023

Ending the Carried Interest Loophole Act This bill revises the tax treatment of partnership interests received in connection with the performance of services. It eliminates the concept of carried interest, a form of compensation received by certain partners in private equity, real estate, or hedge funds for investment management services. Under current law, such compensation can be deferred from taxation until income is realized by the partnership. The bill requires partners to recognize deemed compensation received from a partnership annually, taxed at ordinary income tax rates and subject to self-employment taxation. The bill eliminates a partner's ability to defer tax on such compensation.

Helping Young Americans Save for Retirement Act

United States · United States Congress · 15 November 2023

Helping Young Americans Save for Retirement Act This bill lowers the age for participation in tax-exempt pension plans from 21 to 18.

To amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans.

United States · United States Congress · 15 November 2023

This bill excludes certain purchases of employee-owned stock from being considered as outstanding voting stock for the purpose of the excise tax on excess business holdings of a private foundation in a business enterprise. The bill applies to any voting stock that is (1) not readily tradable on an established securities market; (2) purchased by the business enterprise on or after January 1, 2005, from an employee stock ownership plan in which employees of the business enterprise participate, in connection with a distribution from the plan; and (3) held by the business enterprise as treasury stock, cancelled, or retired.

Brownfields Redevelopment Tax Incentive Reauthorization Act of 2023

United States · United States Congress · 15 November 2023

To amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations.

United States · United States Congress · 14 November 2023

This bill suspends the tax-exempt status of a terrorist supporting organization. The bill defines terrorist supporting organization as any organization designated as having provided (during the three-year period prior to its designation) material support or resources to a terrorist organization in excess of a de minimis amount. The Department of the Treasury must provide notice to such an organization of its impending designation and an opportunity to cure. Treasury must rescind a designation that it determines was erroneous or if the organization did not receive notice of designation.

Providing for consideration of the bill (H.R. 5893) making appropriations for the Departments of Commerce and Justice, Science, and Related Agencies for the fiscal year ending September 30, 2024, and for other purposes, and providing for consideration of the bill (H.R. 5961) to freeze certain Iranian funds involved in the 2023 hostage deal between the United States and Iran, and for other purposes.

United States · United States Congress · 14 November 2023

Sets forth the rule for consideration of the bill (H.R. 5893) making appropriations for the Departments of Commerce and Justice, Science, and Related Agencies for the fiscal year ending September 30, 2024, and for other purposes, and providing for consideration of the bill (H.R. 5961) to freeze certain Iranian funds involved in the 2023 hostage deal between the United States and Iran.

Upskilling and Retraining Assistance Act

United States · United States Congress · 14 November 2023

Upskilling and Retraining Assistance Act  This bill increaes to $12,000 in 2024-2025, the exclusion from employee gross income, for income tax purposes, of employer-paid educational assistance programs.  The bill also expands the exclusion to include amounts paid for education-related tools and technology (e.g., hand tools, computers, software, licensure fees). 

Upward Mobility Enhancement Act

United States · United States Congress · 14 November 2023

Upward Mobility Enhancement Act This bill increases the amount of the tax exclusion for employer-paid educational assistance programs. It also expands the exclusion to include amounts paid for education-related tools and technology (e.g., hand tools, computers, software, licensure fees). 

Upskilling and Retraining Assistance Act

United States · United States Congress · 14 November 2023

Upskilling and Retraining Assistance Act  This bill increases to $12,000 in 2024-2025, the exclusion from employee gross income, for income tax purposes, of employer-paid educational assistance programs.  The bill also expands the exclusion to include amounts paid for education-related tools and technology (e.g., hand tools, computers, software, licensure fees). 

Providing for consideration of the bill (H.R. 5894) making appropriations for the Departments of Labor, Health and Human Services, and Education, and related agencies for the fiscal year ending September 30, 2024, and for other purposes.

United States · United States Congress · 13 November 2023

Sets forth the rule for consideration of the bill (H.R. 5894) making appropriations for the Departments of Labor, Health and Human Services, and Education, and related agencies for the fiscal year ending September 30, 2024.

Military OneSource Transparency Act

United States · United States Congress · 13 November 2023

Military OneSource Transparency Act This bill requires the Department of Defense to annually report through FY2029 on its Military OneSource program. The program provides information and various support services to servicemembers and their families (e.g., counseling or tax preparation).

Fiscal Year 2024 Veterans Affairs Major Medical Facility Authorization Act

United States · United States Congress · 9 November 2023

Fiscal Year 2024 Veterans Affairs Major Medical Facility Authorization Act This bill authorizes the Department of Veterans Affairs to carry out specified major medical facility projects during FY2024. The bill also indicates the maximum amount that can be spent on each project.

Tax Stamp Revenue Transfer for Wildlife and Recreation Act

United States · United States Congress · 9 November 2023

Tax Stamp Revenue Transfer for Wildlife and Recreation Act This bill transfers a portion of the excise tax for transferring a firearms suppressor and allocates tax revenues to support wildlife conservation and recreational activities, and expedite the processing of suppressor applications by the Bureau of Alcohol, Tobacco, Firearms and Explosives.

Hire Student Veterans Act

United States · United States Congress · 9 November 2023

Hire Student Veterans Act This bill expands the work opportunity tax credit to allows employers a credit for hiring veterans who are receiving educational assistance under programs provided by the Department of Defense or the Department of Veterans Affairs.

Strengthen Taxpayer Rights Act of 2023

United States · United States Congress · 9 November 2023

Strengthen Taxpayer Rights Act of 2023 This bill prohibits Internal Revenue Service (IRS) employees, except for employees of the IRS Independent Office of Appeals, from participating in a conference brought by such office to resolve a taxpayer's disputed tax liability without the taxpayer's consent.

Hire Student Veterans Act

United States · United States Congress · 9 November 2023

Hire Student Veterans Act This bill expands the work opportunity tax credit to allows employers a credit for hiring veterans who are receiving educational assistance under programs provided by the Department of Defense or the Department of Veterans Affairs.

FAIRNESS AND FISCAL RESPONSIBILITY: CRACKING DOWN ON WEALTHY TAX CHEATS

United States · United States Senate · 8 November 2023

Fiscal Stability Act of 2023

United States · United States Congress · 8 November 2023

Remote Seafood Employee Meals Tax Parity Act

United States · United States Congress · 8 November 2023

Remote Seafood Employee Meals Tax Parity Act This bill provides that the 50% limitation on the tax deduction for business meals shall not apply to meals provided on certain fishing vessels or at certain fish processing facilities.

Payer State Transparency Act of 2023

United States · United States Congress · 8 November 2023

Payer State Transparency Act of 2023 This bill requires the Bureau of Economic Analysis of the Department of Commerce to calculate the federal tax burden of each state for each calendar year. It also requires the Office of Management and Budget to calculate the total amount of federal outlays received by each state in each fiscal year.

Lowering Costs for Caregivers Act of 2023

United States · United States Congress · 8 November 2023

WEAR IT Act

United States · United States Congress · 7 November 2023

State-Based Universal Health Care Act of 2023

United States · United States Congress · 7 November 2023

State-Based Universal Health Care Act of 20 23 This bill establishes the option for states, or groups of states, to apply to waive certain federal health insurance requirements and provide residents with health insurance benefits plans through a state-administered program. Such programs must cover 95% of the residents in the state within five years and plan benefits must be at least as comprehensive and affordable as the coverage under the equivalent federal program. State programs are supported with funds from the federal programs the state programs replace, which may include Medicare, Medicaid, the Children's Health Insurance Program, the Federal Employee Health Benefits program, certain federal tax credits, and premium-assistance funds, among others. The bill requires the Department of Health and Human Services to appoint an Independent Assessment Panel for Comprehensive Care to review and recommend whether to approve state applications. Each approved state program must be independently reviewed every five years to evaluate changes in health benefits access, quality, and coverage, including whether the state has met the 95% coverage requirement. The federal government must pay all health insurance costs for American Indians and Alaska Natives who enroll in a plan through a state insurance program.

Tax Cuts for Veterans Act of 2023

United States · United States Congress · 7 November 2023

Tax Cuts for Veterans Act of 2023 This bill excludes from the gross income of members or former members of the Armed Forces, for income tax purposes, any retired or retainer pay or any amounts paid in connection with a disability or combat-related injury or disability or death of a member.

Providing for consideration of the bill (H.R. 4664) making appropriations for financial services and general government for the fiscal year ending September 30, 2024, and for other purposes.

United States · United States Congress · 6 November 2023

Sets forth the rule for consideration of the bill (H.R. 4664) making appropriations for financial services and general government for the fiscal year ending September 30, 2024.

To allow Federal State Department employees to file a confidential or open report on any fiscal waste that they come across and establishes an award program for exemplary employees who file non-confidential reports on wasteful spending.

United States · United States Congress · 6 November 2023

This bill requires the Department of State to establish a program for employees to self-report fiscal waste they observe on the job. The State Department shall investigate such reports and rectify all instances of determined fiscal waste. Employees must be allowed to make their reports confidential. The State Department must establish a departmental award for any exemplary employee who makes non-confidential submissions to the fiscal waste self-reporting program that result in significant cost savings or the cancellation of wasteful programs.

Paperwork Burden Reduction Act

United States · United States Congress · 6 November 2023

Paperwork Burden Reduction Act This bill modifies provisions under the Patient Protection and Affordable Care Act so that employers and health insurance providers are no longer required to send tax forms to covered individuals showing proof of minimum essential coverage (1095-B and 1095-C tax forms) unless a form is requested. Currently, employers and health insurance providers that provide minimum essential coverage must report this information for each covered individual to the Internal Revenue Service (IRS) and provide a copy of this information to the covered individual (through 1095-B and 1095-C tax forms) by January 31 of each year. The IRS allows for 1095-B tax forms, which are sent by certain health insurance providers and employers, to be made available to individuals only upon request. The bill provides statutory authority for this flexibility and extends this flexibility to 1095-C tax forms, which are sent by certain large employers. Such requests must be fulfilled by January 31 or 30 days after the date of the request, whichever is later. Employers and health insurance providers must give individuals timely notice of this option, in accordance with any requirements set by the IRS.

1099K Elimination Act of 2023

United States · United States Congress · 3 November 2023

1099K Elimination Act of 2023 This bill repeals the requirement of filing informational returns relating to payments made in settlement of payment card and third party network transactions.

Human Trafficking Survivor Tax Relief Act

United States · United States Congress · 3 November 2023

Human Trafficking Survivor Tax Relief Act This bill excludes from gross income, for income tax purposes, any civil damages, restitution, or other monetary award (including compensatory or statutory damages and restitution imposed in a criminal matter) awarded pursuant to an order of mandatory restitution or in a criminal proceeding for peonage, slavery, or human trafficking.

Living Organ Donor Tax Credit Act of 2023

United States · United States Congress · 2 November 2023

Living Organ Donor Tax Credit Act of 2023 This bill establishes a refundable tax credit of up to $5,000 for expenses related to the removal and donation of all or part of a kidney, liver, lung, pancreas, intestine, or bone marrow by a living individual for transplant into another individual.  Expenses that may be included in the calculation of this tax credit include travel, lodging, medical expenses related to donation and follow-up care, paperwork and legal costs, lost wages, and any other costs paid by the taxpayer in connection with the transplant.  Expenses related to the transplant that are reimbursed by any person or entity (public or private) may not be included in the calculation of the credit amount.

Providing for consideration of the bill (H.R. 4821) making appropriations for the Department of the Interior, environment, and related agencies for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 4820) making appropriations for the Departments of Transportation, and Housing and Urban Development, and related agencies for the fiscal year ending September 30, 2024, and for other purposes; and providing for consideration of the bill (H.R. 6126) making emergency supplemental appropriations to respond to the attacks in Israel for the fiscal year ending September 30, 2024, and for other purposes.

United States · United States Congress · 2 November 2023

Sets forth the rule for consideration of the bill (H.R. 4821) making appropriations for the Department of the Interior, environment, and related agencies for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 4820) making appropriations for the Departments of Transportation, and Housing and Urban Development, and related agencies for the fiscal year ending September 30, 2024, and for other purposes; and providing for consideration of the bill (H.R. 6126) making emergency supplemental appropriations to respond to the attacks in Israel for the fiscal year ending September 30, 2024.

Curtailing Executive Overcompensation (CEO) Act

United States · United States Congress · 2 November 2023

Curtailing Executive Overcompensation (CEO) Act This bill imposes an excise tax on employers (i.e., business entities) that have at least a 50 to 1 disparity between the wages (including bonuses, stock awards and options) of chief executive officers and the wages paid to their workers. The bill applies to employers that have not less than $100 million in annual gross receipts and $10 million in payroll over a 3 year period. The bill limits such tax to 1% of an employer's gross receipts.

NO GOTION Act

United States · United States Congress · 2 November 2023