Taxation

Dental Loan Repayment Assistance Act

United States · United States Congress · 24 February 2021

Dental Loan Repayment Assistance Act This bill modifies the requirements for calculating taxable income to exclude from gross income payments received under the federally funded student loan repayment program for full-time faculty members of dental schools with programs in general, pediatric, or public health dentistry. The bill also requires the Government Accountability Office to report to Congress on the participation of dental providers and faculty in areas and schools receiving funding under the program.

American Innovation and R&D Competitiveness Act of 2021

United States · United States Congress · 24 February 2021

American Innovation and R&D Competitiveness Act of 2021 This bill eliminates the five-year amortization requirement for research and experimental expenditures scheduled to begin in 2022, thus allowing continued expensing of such expenditures in the taxable years in which they are incurred.

MOM­MA’s Act

United States · United States Congress · 24 February 2021

Mothers and Offspring Mortality and Morbidity Awareness Act or the MOMMA's Act This bill establishes various programs and requirements to reduce maternal mortality. It also increases federal tobacco taxes and equalizes the tax treatment of different tobacco products. Specifically, the Centers for Disease Control and Prevention (CDC) must provide technical assistance and best practices for collecting data, standardizing reporting, and preventing maternal mortality. The CDC must consult with the Health Resources and Services Administration (HRSA) on this assistance. The bill also provides statutory authority for CDC grants for state-based collaboratives to improve care immediately before and after birth and to improve maternal and infant health outcomes, and a HRSA program to improve the quality and safety of maternity care. Furthermore, the Department of Health and Human Services (HHS) must establish regional centers through health professional schools and training programs to educate health care providers about implicit bias and culturally competent care. In addition, the bill expands eligibility for Medicaid, the Children's Health Insurance Program (CHIP), and other benefits for pregnant and postpartum individuals. Specifically, it extends postpartum eligibility for Medicaid and CHIP for one year; provides coverage for oral health services for pregnant and postpartum individuals under Medicaid and CHIP; and extends postpartum eligibility for the Special Supplemental Nutrition Program for Women, Infants, and Children for two years. HHS must also take steps to publicize the benefits available to pregnant and postpartum individuals under Medicaid and CHIP, and the Centers for Medicare & Medicaid Services must provide guidance on Medicaid coverage for doula services.

Empower Act of 2021

United States · United States Congress · 24 February 2021

Empower Act of 2021 This bill modifies the system for the public financing of presidential primary and general elections. The bill (1) increases the amount of matching funds for participating candidates by matching the first $200 of contributions by individuals to a candidate at a 6:1 ratio; (2) eliminates spending limits on participating candidates; (3) allows the national committee of a political party to make expenditures of up to $100 million in coordination with participating candidates; (4) requires all payments made to candidates, beginning with the 2028 presidential election, to be made from the Freedom From Influence Fund established by this bill; and (5) prohibits joint fundraising committees for any authorized committee of a candidate.

Medicare-X Choice Act of 2021

United States · United States Congress · 23 February 2021

Medicare-X Choice Act of 20 21 This bill establishes and funds the Medicare Exchange health plan, which allows individuals who are not otherwise eligible for Medicare to enroll in a government-administered health insurance plan. The Centers for Medicare & Medicaid Services (CMS) must offer such plan in certain individual health insurance exchanges beginning plan year 2022 and offer it in all individual health insurance exchanges beginning plan year 2025. CMS must offer the plan in the small group market in all geographic areas for plan year 2025. The plan must cover primary care services without cost sharing and meet the same requirements, including essential health benefits, as existing health insurance exchange plans. Unless they opt out, health care providers enrolled under Medicare or under a state Medicaid plan must participate in the plan and are reimbursed at Medicare rates. The bill establishes a grants program for community organizations, educational institutions, and health agencies to create service partnerships and establish interactive data systems for health care providers. Additionally, the bill expands the premium tax credit available for plans purchased through an exchange and eliminates the restriction on the Department of Health and Human Services negotiating prescription drug prices for Medicare. 

Skills Renewal Act

United States · United States Congress · 23 February 2021

Skills Renewal Act This bill allows a refundable tax credit for qualified training services received by certain individuals who are unemployed in 2020 due to the coronavius (i.e., the virus that causes COVID-19) pandemic.The bill defines qualified training service as a course or program of study identified by the Workforce Innovation and Opportunity Act for a state, or as a course or program of study relating to computer science, technology, or another high need area, such as a coding boot camp, that has been precertified by the Department of Labor.

Skills Investment Act of 2021

United States · United States Congress · 23 February 2021

Skills Investment Act of 2021 This bill expands tax-favored Coverdell education savings accounts to allow the accounts to be used for educational or skill development expenses such as training services, career and technical education activities, career services, youth workforce investment activities, and adult education and literacy activities. The bill also renames the accounts Coverdell lifelong learning accounts , increases contribution limits, modifies the age-based contribution restrictions, allows a tax credit for a portion of an employer's contributions to an employee's account, and allows beneficiaries to deduct contributions made by or on behalf of the beneficiary.

ABLE Age Adjustment Act

United States · United States Congress · 23 February 2021

ABLE Age Adjustment Act This bill increases from 26 to 46 the age threshold for tax-favored ABLE (Achieving a Better Life Experience) accounts. (ABLE accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses. To establish an account, an individual must have a qualifying impairment that began before the individual attained the age threshold.)

Electric CARS Act of 2021

United States · United States Congress · 23 February 2021

Electric Credit Access Ready at Sale Act of 2021 or the Electric CARS Act of 2021 This bill modifies and extends tax credits for electric cars and alternative motor vehicles. The bill extends the tax credit for new qualified plug-in electric drive motor vehicles through 2031. In addition, the bill modifies the credit to remove the limitation on the number of vehicles per manufacturer that are eligible for the credit, allow a taxpayer to assign the credit to a financing entity, and allow an unused credit to be carried forward for five years. The bill also extends through 2031 the tax credits for (1) alternative fuel vehicle refueling property, and (2) alternative motor vehicles.

Medicare-X Choice Act of 2021

United States · United States Congress · 23 February 2021

Medicare-X Choice Act of 20 21 This bill establishes and funds the Medicare Exchange health plan, which allows individuals who are not otherwise eligible for Medicare to enroll in a government-administered health insurance plan. The Centers for Medicare & Medicaid Services (CMS) must offer such plan in certain individual health insurance exchanges beginning plan year 2022 and offer it in all individual health insurance exchanges beginning plan year 2025. CMS must offer the plan in the small group market in all geographic areas for plan year 2025. The plan must cover primary care services without cost sharing and meet the same requirements, including essential health benefits, as existing health insurance exchange plans. Unless they opt out, health care providers enrolled under Medicare or under a state Medicaid plan must participate in the plan and are reimbursed at Medicare rates. The bill establishes a grants program for community organizations, educational institutions, and health agencies to create service partnerships and establish interactive data systems for health care providers. Additionally, the bill expands the premium tax credit available for plans purchased through an exchange and eliminates the restriction on the Department of Health and Human Services negotiating prescription drug prices for Medicare. 

Electric CARS Act of 2021

United States · United States Congress · 23 February 2021

Electric Credit Access Ready at Sale Act of 2021 or the Electric CARS Act of 2021 This bill modifies and extends tax credits for electric cars and alternative motor vehicles. The bill extends the tax credit for new qualified plug-in electric drive motor vehicles through 2031. In addition, the bill modifies the credit to remove the limitation on the number of vehicles per manufacturer that are eligible for the credit, allow a taxpayer to assign the credit to a financing entity, and allow an unused credit to be carried forward for five years. The bill also extends through 2031 the tax credits for (1) alternative fuel vehicle refueling property, and (2) alternative motor vehicles.

Health Savings Act of 2021

United States · United States Congress · 23 February 2021

Health Savings Act of 2021 This bill modifies the requirements for health savings accounts (HSAs) to rename high deductible health plans as HSA-qualified health plans; allow spouses who have both attained age 55 to make catch-up contributions to the same HSA; make Medicare Part A (hospital insurance benefits) beneficiaries eligible to participate in an HSA; allow individuals eligible for hospital care or medical services under a program of the Indian Health Service or a tribal organization to participate in an HSA; allow members of a health care sharing ministry to participate in an HSA; allow individuals who receive primary care services in exchange for a fixed periodic fee or payment, or who receive health care benefits from an on-site medical clinic of an employer, to participate in an HSA; include amounts paid for prescription and over-the-counter medicines or drugs as qualified medical expenses for which distributions from an HSA or other tax-preferred savings accounts may be used; increase the limits on HSA contributions to match the sum of the annual deductible and out-of-pocket expenses permitted under a high deductible health plan; and allow HSA distributions to be used to purchase health insurance coverage. The bill also (1) exempts HSAs from creditor claims in bankruptcy, and (2) reauthorizes Medicaid health opportunity accounts. The bill allows a medical care tax deduction for (1) exercise equipment, physical fitness programs, and membership at a fitness facility; (2) nutritional and dietary supplements; and (3) periodic fees paid to a primary care physician and amounts paid for pre-paid primary care services.

Tribal Transportation Equity and Transparency Improvement Act of 2021

United States · United States Congress · 23 February 2021

Tribal Transportation Equity and Transparency Improvement Act of 2021 This bill revises certain programs related to tribal transportation. First, the bill revises the Tribal Transportation Program (TTP) by directing the Department of the Interior to (1) request proposals from Indian tribes to include additional transportation facilities in the National Tribal Transportation Facility Inventory, and (2) ensure that all nonconfidential information from the inventory is made available on its website. Next, the bill specifies that funding allocations (i.e., tribal shares) under the TTP must be determined using the facility inventory for the most recent fiscal year for which data is available instead of using FY2012 data. It also requires each Indian tribe that intends to include a proposed road in the inventory to complete and submit certain documentation for the road. It also requires independent audits by the inspectors general of Interior and the Department of Transportation, as well as the Government Accountability Office, to review the administration of the TTP. Additionally, the bill permits Indian tribes to use funds for carrying out highway safety programs in cooperation with states, counties, and other local subdivisions. It also increases the federal share for Indian tribes under the Nationally Significant Federal Lands and Tribal Projects Program and allows Indian tribes to use planning and design funds for grant applications under the program. Finally, the bill establishes the Tribal Transportation Advisory Committee, which must provide advice to Interior and study issues related to tribal transportation.

Stop CHEATERS Act

United States · United States Congress · 22 February 2021

Stop Corporations and High Earners from Avoiding Taxes and Enforce the Rules Strictly Act or the Stop CHEATERS Act This bill provides additional appropriations through FY2031 for the enforcement activities of the Internal Revenue Service and to increase audits yearly until 2025 to reach specified targets. It also provides additional appropriations for taxpayer services and operations support. The bill establishes new reporting requirements for certain banks or other financial institutions and increases enforcement penalties for accuracy-related underpayments of tax up to a maximum of 40% of the underpayment for taxpayers with a taxable income greater than $5 million.

Health Care Improvement Act of 2021

United States · United States Congress · 22 February 2021

Health Care Improvement Act of 2021 This bill makes various changes to the health care marketplace, such as expanding premium assistance, encouraging states to expand Medicaid, and establishing a public health insurance option. First, the bill expands the premium tax credit that provides assistance, based on household income, for the cost of insurance plans purchased through an exchange. The bill also provides funding for state reinsurance payments to health insurance issuers and funding for insurance-related costs for individuals enrolled in plans through individual marketplaces. It also rescinds certain rules and guidance related to short-term, limited duration plans and the state innovation waiver program. Additionally, the bill begins the seven-year period of federal assistance for states expanding coverage under Medicaid when a state expands coverage and the bill reduces assistance to states that do not expand coverage. Further, the bill establishes a public health insurance option that is available through individual marketplaces. Providers participating in Medicare or Medicaid also must participate in the public option. The bill also makes changes with respect to payments for rural health providers and permits small group market plans to be offered across state lines. The bill authorizes the Department of Health and Human Services to negotiate with manufacturers for the prices of prescription drugs offered through Medicare. Finally, the bill establishes guidelines for employers to provide information about available health coverage and requires the Government Accountability Office to evaluate the employer notification process for the advance payment of premium tax credits.

ABLE Age Adjustment Act

United States · United States Congress · 22 February 2021

ABLE Age Adjustment Act This bill increases from 26 to 46 the age threshold for tax-favored ABLE (Achieving a Better Life Experience) accounts. (ABLE accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses. To establish an account, an individual must have a qualifying impairment that began before the individual attained the age threshold.)

Shareholder Political Transparency Act of 2021

United States · United States Congress · 18 February 2021

Shareholder Political Transparency Act of 2021 This bill requires an issuer of securities to disclose information related to expenditures for political activities. Specifically, issuers must disclose quarterly any such expenditure, including by identifying any candidate the expenditure was made in relation to and any trade association or other tax-exempt organization that received dues or other payments that may be used for political activities. Annually, issuers must report on expenditures for political activities made in the previous year over $10,000 and information related to anticipated expenditures for the next year. The Government Accountability Office must report on the effectiveness of the Securities and Exchange Commission's oversight of these reporting and disclosure requirements.

Proposing an amendment to the Constitution of the United States requiring that the Federal budget be balanced.

United States · United States Congress · 18 February 2021

This joint resolution proposes a constitutional amendment prohibiting total outlays for a fiscal year from exceeding total receipts for that fiscal year or 18% of the U.S. gross domestic product unless Congress authorizes the excess by a two-thirds vote of each chamber. The prohibition excludes outlays for repayment of debt principal and receipts derived from borrowing. The amendment requires a two-thirds vote of each chamber of Congress to levy a new tax, increase the rate of any tax, or increase the debt limit. The amendment provides any Member of Congress with standing and a cause of action to seek judicial enforcement of this amendment if authorized by a petition signed by one-third of the Members of either chamber of Congress. Courts are prohibited from ordering any increase in revenue to enforce this amendment.

Gun Owner Privacy Act

United States · United States Congress · 18 February 2021

Gun Owner Privacy Act This bill restricts the use of federal funds in connection with the implementation and operation of a firearms-related background check system. Specifically, it prohibits the use of federal funds for a firearms-related background check system that does not immediately destroy all information about a person who is eligible to own firearms, or the implementation or collection of a tax or fee in connection with a firearms-related background check.

LOAN Act

United States · United States Congress · 18 February 2021

Lenders Offer Assistance Now Act or the LOAN Act This bill requires the discharge of a private education loan in the event of the student borrower's disability. Such a discharge is not considered income for tax or other purposes. Additionally, the bill prohibits the automatic default of a private education loan due to the disability of a loan cosigner. Furthermore, the bill generally permits the discharge of student loans in bankruptcy. Under current law, student loans are not dischargeable in bankruptcy unless repayment would be an undue hardship to the debtor and the debtor's dependents.

Green Buses for Every Community Act

United States · United States Congress · 18 February 2021

Green Buses for Every Community Act This bill requires at least 10% of funding made available in a fiscal year for the low or no emissions competitive grant program for buses and bus facilities to be distributed to projects serving predominantly low-income communities. The bill defines a low-income community as any population census tract if (1) the poverty rate for such tract is at least 20%; or (2) the tract is not located within a metropolitan area and the median family income for such tract does not exceed 80% of statewide median family income, or the tract is located within a metropolitan area and the median family income does not exceed the 80% or the metropolitan area median family income.

Fairness in Social Security Act of 2021

United States · United States Congress · 18 February 2021

Fairness in Social Security Act of  2021 This bill excludes from modified adjusted gross income, for income tax purposes, any lump-sum social security benefit payment (i.e., a payment of more than one month of social security benefits) that is attributable to months ending before the beginning of the taxable year. It also waives any statute of limitation for credits or refunds resulting from this bill.

To allow expensing of amounts paid to move business property from China to the United States, and for other purposes.

United States · United States Congress · 18 February 2021

This bill directs the Department of the Treasury to establish a program to treat amounts paid by U.S citizens or business entities to move their inventory, equipment, and supplies from China to the United States as items of expense, deductible in the year in which they are incurred. The cost of this expensing allowance shall be paid for with tariffs collected by the United States on goods manufactured in China.

IRS Enhancement and Tax Gap Reduction Act of 2021

United States · United States Congress · 18 February 2021

IRS Enhancement and Tax Gap Reduction Act of 2021 This bill appropriates additional amounts to the Internal Revenue Service (IRS) in FY2022-FY2031 for tax enforcement, improving IRS technology infrastructure, and taxpayer services.

Earmark Elimination Act of 2021

United States · United States Congress · 18 February 2021

Earmark Elimination Act of 2021 This bill establishes a point of order in the House of Representatives against considering legislation that contains a congressional earmark, limited tax benefit, or limited tariff benefit. If the point of order is raised and sustained, the congressional earmark, limited tax benefit, or limited tariff benefit shall be deemed to be stricken from the legislation.

Flat Tax Act

United States · United States Congress · 15 February 2021

Flat Tax Act This bill authorizes an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing income tax provisions) of 19% for the first two years after an election is made, and 17% thereafter. The bill calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each dependent from the total of wages, retirement distributions, and unemployment compensation. "Business taxable income" is gross active income reduced by certain deductions for the cost of business inputs, wages, and retirement contributions. The bill imposes an employer tax on the value of excludable compensation provided to employees not engaged in business activity of 19% for the first two years after an election is made under this bill and 17% thereafter. The bill also repeals the estate, gift, and generation-skipping transfer taxes. A two-thirds vote of the House of Representatives and the Senate is required to increase the flat tax rate proposed by this bill or to reduce the amount of the standard deduction or business-related deductions allowed by this bill.

ACCESS 45Q Act

United States · United States Congress · 15 February 2021

Accelerating Carbon Capture and Extending Secure Storage through 45Q Act or the ACCESS 45Q Act This bill extends the tax credit for carbon oxide sequestration through 2035 and allows taxpayers an election to receive payments in lieu of the credit. The bill also permits an allowance of the carbon oxide tax credit against the base erosion minimum tax. The base erosion minimum tax is a tax on large corporation that is calculated after adding back to taxable income certain deductible payments made to related foreign persons.

Teacher Victims’ Family Assistance Act of 2021

United States · United States Congress · 15 February 2021

Teacher Victims' Family Assistance Act of 2021 This bill establishes the Teacher Victims' Family Trust Fund, from which the Department of Education (ED) must provide financial assistance to certain family members of elementary and secondary school teachers and staff members who are killed by an act of violence while performing their school duties. The bill also increases from 11% to 13% the excise tax on shells and cartridges and provides the trust fund with funding equivalent to the revenues received from the tax increase. Specifically, ED must provide victims' families with (1) funeral assistance; (2) a death benefit payment for the surviving spouse, dependent child, or other next of kin; (3) a monthly living allowance for the surviving spouse until death or remarriage or, if there is no surviving spouse, for each dependent child until age 18; and (4) undergraduate education assistance for each dependent child for five years. Additionally, the bill excludes from a victim's income, for tax purposes, the amount of wages earned in the year of death. It also excludes victims' family assistance received under the bill from gross income for any taxable year.

Carried Interest Fairness Act of 2021

United States · United States Congress · 15 February 2021

Carried Interest Fairness Act of 2021 This bill modifies the tax treatment of carried interest, which is compensation that is typically received by a partner of a private equity or hedge fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) This bill includes provisions that set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's qualified capital interest, exempt income from investment services partnership interests from treatment as qualifying income of a publicly traded partnership, exempt certain family partnerships from the application of this bill, increase the penalty for underpayments of tax resulting from failure to treat income from an investment services partnership interest as ordinary income, and include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment and applicable self-employment taxes. The bill defines investment services partnership interest as any interest in a partnership held by a person who provides services to a partnership by (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.

Charitable Giving Tax Deduction Act

United States · United States Congress · 15 February 2021

Charitable Giving Tax Deduction Act This bill modifies the requirements for calculating taxable income to allow a deduction from gross income (above-the-line deduction) for charitable contributions that are allowed as an itemized deduction under current law.

Retirement Inflation Protection Act of 2021

United States · United States Congress · 11 February 2021

Retirement Inflation Protection Act of 2021 This bill allows the adjusted basis of certain assets, including C corporation common stock and tangible property used in a trade or business, to be adjusted for inflation solely for the purpose of determining the gain or loss of individuals who (1) have held such assets for more than 3 years, and (2) have attained the age of 59 1/2 as of the date of the sale or other disposition of the assets. The bill uses the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) for purposes of making the inflation adjustment. The bill sets forth rules for applying the inflation adjustment to short sales, dispositions between related persons, and improvements to property. The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing an inflation adjustment.

Robust International Response to Pandemic Act

United States · United States Congress · 11 February 2021

Robust International Response to Pandemic Act This bill requires the Department of the Treasury and each U.S. Executive Director at an international financial institution to take certain actions in support of the global response to COVID-19 (i.e., coronavirus disease 2019). Specifically, each U.S. Executive Director at an international financial institution (e.g., the International Bank for Reconstruction and Development or the International Finance Corporation) must seek the suspension of debt service payments to the institution and the relaxation of fiscal targets for certain programs, oppose programs or loan agreements that would reduce countries' health care spending or other spending related to their responses to COVID-19, and require approval of all Special Drawing Rights (a currency support tool) allocation transfers from wealthier member countries to countries that are emerging or developing to ensure the allocations are used for the public good and in response to the global pandemic. Further, the U.S. Governor at the International Monetary Fund (IMF) must advocate for the issuance of Special Drawing Rights so that governments may access additional resources to finance their responses to COVID-19. Of these Special Drawing Rights allocated to the United States, Treasury must lend a specified amount to the Poverty Reduction and Growth Trust or other special purpose vehicle of the IMF to help eligible low-income countries respond to COVID-19. Treasury must also advocate for an extension of the current moratorium on debt service payments to official bilateral creditors by the world's poorest countries.

Law Enforcement Officers Equity Act

United States · United States Congress · 11 February 2021

Law Enforcement Officers Equity Act This bill expands the definition of law enforcement officer under provisions of the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS). Specifically, the bill expands the definition to include (1) federal employees whose duties encompass the investigation or apprehension of suspected or convicted criminals and who are authorized to carry a firearm; (2) Internal Revenue Service employees whose duties are primarily the collection of delinquent taxes and the securing of delinquent returns; (3) U.S. Postal Inspection Service employees; (4) Department of Veterans Affairs police officers; and (5) certain U.S. Customs and Border Protection employees who are seized-property specialists with duties relating to custody, management, and disposition of seized and forfeited property. The bill deems service performed by an incumbent law enforcement officer on or after the enactment date of this bill to be service performed as a law enforcement officer for retirement purposes. The past service of such incumbents shall be treated as service performed by a law enforcement officer for retirement purposes only if a written election is submitted to the Office of Personnel Management within five years after the enactment of this bill or before separation from government service, whichever is earlier. An incumbent who makes an election before the enactment of this bill may pay a deposit into the Civil Service Retirement and Disability Fund to cover prior service. A law enforcement officer shall not be subject to mandatory separation during the three-year period beginning on the enactment of this bill.

Small Business Succession Planning Act

United States · United States Congress · 11 February 2021

Small Business Succession Planning Act This bill requires the Small Business Administration (SBA) to establish a program to assist small businesses with developing and implementing business succession plans. The bill also provides a tax credit for a business that establishes a succession plan or that successfully carries out such a plan. A business succession plan identifies who will assume the ownership responsibilities of a small business upon the owner's death or retirement, and it includes an operational description of the small business to ensure the continuation of operations. To carry out the program, the SBA must develop and make publicly available a toolkit to assist small business with succession planning. Further, it must train resource partners on the toolkit, educate small businesses about the program, and ensure that each SBA district office and each resource partner employs someone to counsel small businesses on using the toolkit.

Lady Liberty Act of 2021

United States · United States Congress · 11 February 2021

Lady Liberty Act of 2021 This bill sets a floor of 125,000 for the maximum number of refugees who may be admitted into the United States each fiscal year. Under current law, the President sets the annual cap on refugee admissions at the beginning of each fiscal year. (The cap for FY2021 is 15,000, and the cap for FY2020 was 18,000.)

Recognizing that the United States needs a Marshall Plan for Moms in order to revitalize and restore mothers in the workforce.

United States · United States Congress · 11 February 2021

This resolution declares that (1) the United States needs a Marshall Plan for Moms to revitalize and restore mothers in the workforce; and (2) mothers, especially mothers of color have been pushed to the brink of economic, social, and emotional collapse during the COVID-19 (i.e., coronavirus disease 2019) pandemic because of the existing economic and social inequalities women have long faced. The resolution also states that any relief and long-term recovery package to address the COVID-19 crisis must recognize and rebuild moms in the workforce by including certain policies such as establishing a robust paid leave plan; rebuilding and stabilizing the child care industry; providing necessary child poverty reduction tools for families' economic security that include recurring child benefits and an expanded and improved child tax credit and earned income tax credit; establishing an expanded unemployment insurance program that benefits struggling workers, including those experiencing long-term unemployment; raising the federal minimum wage to $15 per hour or higher for all minimum wage workers; and providing access to mental health support for mothers. Finally, the resolution declares that employers and policymakers must prioritize addressing the economic cliff facing mothers and make permanent the policies set forth in this resolution so that mothers are protected against any future economic calamities.

Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act of 2021

United States · United States Congress · 11 February 2021

Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act of 2021 This bill establishes procedures and provides statutory authority to reduce the number of federal regulations. Specifically, it requires each agency to establish a regulatory reform task force chaired by a designated regulatory reform officer. Each task force must, among other duties (1) review each existing agency regulation; (2) estimate the potential cost savings of repealing or modifying each regulation; and (3) identify regulations that are appropriate for repeal, replacement, or modification based on cost, effectiveness, and impact on employment. The bill further provides statutory authority for the executive order prohibiting agencies from issuing a new regulation with an economic impact of at least $100 million without identifying two regulations for repeal that will offset the cost of the proposed new regulation. Agencies also must submit a list of all planned regulatory actions for inclusion in the semiannual Unified Agenda of Federal Regulatory and Deregulatory Actions, including (1) the estimated economic effect of each action, and (2) proposed deregulatory actions to offset the cost of each proposed new regulation. Additionally, the Office of Management and Budget must establish an annual regulatory budget for each federal agency that specifies the net allowable increase in regulatory costs for each agency during the next fiscal year.

E-BIKE Act

United States · United States Congress · 11 February 2021

Electric Bicycle Incentive Kickstart for the Environment Act or the E-BIKE Act This bill allows a refundable tax credit for 30% of the cost of a qualified electric bicycle. The credit is limited to $1,500 per taxpayer less all credits allowed for the two preceding taxable years. A qualified electric bicycle is a two-wheeled vehicle that is, among other things, equipped with an electric motor of less than 750 watts that is capable of propelling such vehicle.

Sustainable Budget Act of 2021

United States · United States Congress · 11 February 2021

Sustainable Budget Act of 2021 This bill establishes the National Commission on Fiscal Responsibility and Reform within the legislative branch to identify policies to improve the fiscal situation in the medium term and achieve fiscal sustainability over the long term. The commission must propose recommendations that (1) are designed to balance the budget, excluding interest payments on the debt, within 10 years; and (2) meaningfully improve the long-term fiscal outlook, including changes to address the growth of entitlement spending and the gap between projected federal revenues and expenditures. Congress must consider the commission's recommendations using specified expedited legislative procedures.

Reservist Pay Equity Act of 2021

United States · United States Congress · 11 February 2021

Reservist Pay Equity Act of 2021 This bill increases the rate of the differential wage payment tax credit from 20% to 50% and requires that the maximum dollar amount of such credit be adjusted for inflation after 2021. The credit is allowed to employers for their employees who are active duty members of the uniformed services.

Opportunity Zone Extension Act of 2021

United States · United States Congress · 11 February 2021

This bill extends for two years the election and capital gain deferral periods for qualified opportunity zones. An opportunity zone is an economically-distressed community where private investments, under certain conditions, may be eligible for capital gain tax incentives.

MARKUP OF: "PROVIDING FOR RECONCILIATION PURSUANT TO S. CON. RES. 5, THE CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2021"

United States · United States House of Representatives · 10 February 2021

Build a Better VA Act

United States · United States Congress · 8 February 2021

Build a Better VA Act This bill prohibits funds from being appropriated for any fiscal year for a Department of Veterans Affairs major medical facility lease unless the House and Senate Committees on Veterans' Affairs adopt resolutions approving the lease.

Home Defense and Competitive Shooting Act of 2021

United States · United States Congress · 8 February 2021

Home Defense and Competitive Shooting Act of 2021 This bill removes short-barreled rifles (barrels of less than 16 inches in length) from the definition of firearms for purposes of the National Firearms Act. It also eliminates the prohibition on the transportation of such rifles in interstate commerce and treats persons who acquire or possess a short-barreled rifle as meeting the registration or licensing requirements for such rifle where such requirements are determined by reference to the National Firearms Act. The bill preempts state or local laws that impose a tax or recordkeeping requirements on short-barreled rifles. The Department of Justice must destroy records relating to the registration of  certain rifles within one year after the enactment of this bill.

To amend the Internal Revenue Code of 1986 to provide for the application of the premium tax credit in the case of certain individuals who are unemployed during 2021.

United States · United States Congress · 8 February 2021

This bill makes individual taxpayers who receive unemployment compensation during 2021 eligible for the refundable tax credit for coverage under a qualified health plan.

RAFT Act of 2021

United States · United States Congress · 8 February 2021

Reforming America's Fiscal Toolkit Act of 2021 or the RAFT Act of 2021 This bill modifies the federal budget process to provide for the establishment of a target for the ratio of the public debt to the estimated gross domestic product (GDP). Specifically, the bill requires congressional budget resolutions to include a recommended ratio of public debt to GDP. In addition, congressional budget resolutions for even-numbered fiscal years must either (1) instruct one or more congressional committees to recommend changes in existing laws necessary to achieve the target ratio, or (2) request the establishment of a Joint Select Committee on Fiscal Responsibility to make the recommendations. The bill also sets forth requirements for (1) establishing the Joint Select Committee on Fiscal Responsibility if it is requested, and (2) considering the recommendations of the joint committee or other congressional committees using expedited legislative procedures in the Senate.

SALT Act

United States · United States Congress · 8 February 2021

Stop the Attack on Local Taxpayers Act of 2021 or the SALT Act This bill repeals the limitation on the deductibility of state and local taxes during 2018-2025. It also increases from $250 to $1,000 the tax deduction for certain expenses of elementary and secondary school teachers and allows a deduction from gross income (above-the-line) for certain training and uniform expenses of first responders (i.e., individuals who are law enforcement officers, firefighters, paramedics, or emergency medical technicians for at least 1,000 hours during a taxable year). The bill expands individual income tax brackets and increases the top income tax rate for individual taxpayers to 39.6%.

To amend the Internal Revenue Code of 1986 to suspend for 2020 the recapture of overpayment of advanced premium tax credit.

United States · United States Congress · 8 February 2021

This bill suspends for 2020 the recapture of any overpayment of the tax credit for coverage under a qualified health care plan.

Child and Dependent Care Tax Credit Enhancement Act of 2021

United States · United States Congress · 8 February 2021

Child and Dependent Care Tax Credit Enhancement Act of 2021 This bill modifies the tax credit for employment-related expenses incurred for the care of a taxpayer's dependent to (1) increase to $400,000, the adjusted gross income threshold level above which the credit is incrementally reduced; (2) increase the dollar limits on the allowable amount of the credit; (3) specify rules for married couples filing separate returns; (4) allow an inflation adjustment to the adjusted gross income threshold and the maximum credit amounts, beginning after 2022; and (5) make the credit refundable.

American Family Act of 2021

United States · United States Congress · 8 February 2021

American Family Act of 2021 This bill modifies the child tax credit to (1) make the credit fully refundable, (2) increase the amount of the credit and allow an additional credit for children who are under six years of age, (3) require the amount of the credit to be adjusted annually for inflation, and (4) require the Department of the Treasury to establish a program for making advance payments of the credit on a monthly basis.