Taxation

Protect Student Borrowers Act of 2017

United States · United States Congress · 26 October 2017

Protect Student Borrowers Act of 2017 This bill amends the Higher Education Act of 1965 to require institutions of higher education (IHEs) participating in the William D. Ford Federal Direct Loan program to assume some of the risk of default for student loans under the program. For any fiscal year in which at least 33% of the IHE's student body is participating in the Direct Loan program, the IHE must remit a risk-sharing payment that is based on the amount of its defaulted Direct Loans.

Foster Care Tax Credit Act

United States · United States Congress · 26 October 2017

Foster Care Tax Credit Act This bill amends the Internal Revenue Code to allow a partially refundable tax credit for each qualifying foster child who resides in the home of an eligible taxpayer for at least one calendar month during the taxable year. A "qualifying foster child" is a child in foster care who: (1) has not attained age 17; (2) is a citizen, national, or resident of the United States; and (3) with respect to whom the child tax credit is not allowable. In order to claim the credit, the name and taxpayer identification number of a foster child must be included on the taxpayer's tax return. No credit is allowed if the identification number of either the taxpayer or the qualifying child was issued after the due date for filing the return for the taxable year. The bill denies the tax credit to certain taxpayers who have made prior fraudulent or reckless claims for the credit within specified disallowance periods. The Department of Health and Human Services must identify provisions in the Internal Revenue Code that can benefit foster families and increase outreach efforts to inform state and Indian tribal foster care agencies and foster families about such provisions.

American Family Act of 2017

United States · United States Congress · 26 October 2017

American Family Act of 2017 This bill amends the Internal Revenue Code, with respect to 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 after 2017, and (4) require the Department of the Treasury to establish a program for making advance payments of the credit on a monthly basis.

Transparent Drug Pricing Act of 2017

United States · United States Congress · 25 October 2017

Transparent Drug Pricing Act of 2017 This bill requires drug manufacturers to report specified financial and sales information, including drug pricing, tax credit, and patent information; violations are subject to civil penalties.

Renewable Electricity Tax Credit Equalization Act

United States · United States Congress · 25 October 2017

Renewable Electricity Tax Credit Equalization Act This bill amends the Internal Revenue Code, with respect to the tax credits for investments in energy property and for electricity produced from certain renewable resources, to extend both credits for the following facilities placed in service after 2008 with construction that begins before January 1, 2022: closed-loop biomass, open-loop biomass, geothermal, landfill gas, trash facilities, qualified hydropower facilities, and marine and hydrokinetic renewable energy facilities. The bill also includes a phase-out schedule that reduces the amounts of the credits by specified amounts that increase for facilities that are constructed or placed in service later.

Upward Mobility Enhancement Act

United States · United States Congress · 25 October 2017

Upward Mobility Enhancement Act This bill amends the Internal Revenue Code, with respect to the exclusion for educational assistance programs, to increase the maximum amount of employer-provided educational assistance that may be excluded from the gross income of an employee. The bill: (1) specifies that the exclusion applies only to the first $11,500 of educational assistance furnished to an individual during a calendar year, in the case of assistance for education below the graduate level; and (2) requires the dollar amount to be adjusted for inflation after 2017. (Under current law, the exclusion applies only to the first $5,250 of educational assistance furnished to an individual during a calendar year and is not adjusted for inflation.)

No Abortion Bonds Act

United States · United States Congress · 25 October 2017

No Abortion Bonds Act This bill amends the Internal Revenue Code to impose taxes on state, local, and tax credit bonds that are used to provide a facility owned or used (for any purpose) by an abortion provider for more than 30 days during a year in which interest is paid on the bond. An entity is not considered an abortion provider solely as a result of performing abortions if: (1) the pregnancy is the result of an act of rape or incest; or (2) a woman suffers from a physical disorder, physical injury, or physical illness that would, as certified by a physician, place the woman in danger of death unless an abortion is performed, including a life-endangering physical condition caused by or arising from the pregnancy itself. The Department of the Treasury may exempt certain hospitals from being considered an abortion provider by making the name of the hospital available on Treasury's public website.

Mobile Mammography Promotion Act of 2017

United States · United States Congress · 25 October 2017

Mobile Mammography Promotion Act of 201 7 This bill amends the Internal Revenue Code to exempt from the motor fuel excise tax fuel used in any highway vehicle designed exclusively to provide mobile mammography services.

Master Limited Partnerships Parity Act

United States · United States Congress · 25 October 2017

Master Limited Partnerships Parity Act This bill amends the Internal Revenue Code, with respect to the tax treatment of publicly traded partnerships as corporations, to expand the definition of "qualifying income" for such partnerships (known as master limited partnerships) to include income and gains from renewable and alternative energy generation projects (in addition to fossil fuel-based energy generation projects) and related infrastructure for transportation or storage, including energy derived from thermal resources, waste, renewable fuels and chemicals, energy efficient buildings, gasification, and carbon capture in secure geological storage.

Expressing the sense of the House of Representatives that the deduction for State and local taxes is beneficial and should remain intact.

United States · United States Congress · 25 October 2017

Expresses the sense of the House of Representatives that the federal income tax deduction for state and local taxes is beneficial to American taxpayers and should remain intact.

Tribal Economic Assistance Act of 2017

United States · United States Congress · 25 October 2017

Tribal Economic Assistance Act of 2017 This bill amends the Internal Revenue Code to extend and modify several tax provisions relating to Indian reservations. The bill: repeals a provision that limits an Indian tribal government's eligibility for certain excise tax exemptions to transactions involving the exercise of an essential government function; makes permanent the special depreciation rules for property used predominantly within an Indian reservation; makes permanent the Indian employment tax credit; requires the Department of the Treasury to give priority to qualified low-income community investments on Indian reservations when allocating new markets tax credits; and allows qualified school construction bonds allocated for schools funded by the Bureau of Indian Affairs to be used for reasonable and necessary predevelopment costs directly associated with the construction, rehabilitation, or repair of a school. The bill also amends the Indian Self-Determination and Education Assistance Act to establish a federal escrow account to carry out a qualified Indian school construction bond program for schools funded by the Bureau of Indian Affairs.

Upward Mobility Enhancement Act

United States · United States Congress · 25 October 2017

Upward Mobility Enhancement Act This bill amends the Internal Revenue Code, with respect to the exclusion for educational assistance programs, to increase the maximum amount of employer-provided educational assistance that may be excluded from the gross income of an employee. The bill: (1) specifies that the exclusion applies only to the first $11,500 of educational assistance furnished to an individual during a calendar year, and (2) requires the $11,500 amount to be adjusted for inflation after 2017. (Under current law, the exclusion applies only to the first $5,250 of educational assistance furnished to an individual during a calendar year and is not adjusted for inflation.)

Master Limited Partnerships Parity Act

United States · United States Congress · 25 October 2017

Master Limited Partnerships Parity Act This bill amends the Internal Revenue Code, with respect to the tax treatment of publicly traded partnerships as corporations, to expand the definition of "qualifying income" for such partnerships (known as master limited partnerships) to include income and gains from renewable and alternative energy generation projects (in addition to fossil fuel-based energy generation projects) and related infrastructure for transportation or storage, including energy derived from thermal resources, waste, renewable fuels and chemicals, energy efficient buildings, gasification, and carbon capture in secure geological storage.

HOARD Act

United States · United States Congress · 24 October 2017

Having Open Access to Relevant Data Act or the HOARD Act This bill requires the Department of the Interior to submit to Congress a report on the number and age of unused approved oil and gas drilling permits and the average cost to the Bureau of Land Management of approving such permits. Applicants who have received more than 100 approved drilling permits and have not begun drilling are not eligible for five fiscal years to participate in the competitive and noncompetitive bidding processes for oil and gas exploration and production.

Providing for consideration of the Senate amendment to the concurrent resolution (H. Con. Res. 71) establishing the congressional budget for the United States Government for fiscal year 2018 and setting forth the appropriate budgetary levels for fiscal years 2019 through 2027.

United States · United States Congress · 24 October 2017

Sets forth the rule for consideration of the Senate amendment to the concurrent resolution (H. Con. Res. 71) establishing the congressional budget for the United States Government for fiscal year 2018 and setting forth the appropriate budgetary levels for fiscal years 2019 through 2027.

Equal Dignity for Married Taxpayers Act of 2017

United States · United States Congress · 24 October 2017

Equal Dignity for Married Taxpayers Act of 201 7 This bill amends the Internal Revenue Code to change provisions that refer to married couples to make such provisions equally applicable to legally married same-sex couples.

AG Act

United States · United States Congress · 23 October 2017

Agricultural Guestworker Act or the AG Act This bill amends the Immigration and Nationality Act to establish a new H-2C nonimmigrant visa for aliens having a residence in a foreign country which they have no intention of abandoning and who are coming temporarily to the United States to perform agricultural labor or services. An employer seeking to employ aliens as H-2C workers must file a petition with the Department of Homeland Security and provide required information. The maximum period of authorized status for temporary or seasonal H-2C workers is 18 months. For aliens not employed as temporary or seasonal workers, the maximum initial period is 36 months with subsequent periods of 18 months. A trust fund is established to provide a monetary incentive for H-2C workers to return to their countries of origin upon expiration of their visas. The bill establishes annual fiscal year H-2C admission limits. The bill also sets forth provisions regarding: (1) penalties for failure to pay wages or required benefits, (2) working conditions and wages, (3) admissions and extensions of stay, (4) abandonment of employment and worker replacement, (5) protection of U.S. workers, and (6) arbitration and mediation of employment-related claims of H-2C workers.

Taxpayer Identity Theft Protection Act

United States · United States Congress · 19 October 2017

Taxpayer Identity Theft Protection Act This bill amends the Internal Revenue Code to require the Internal Revenue Service (IRS) to issue an identity protection personal identification number at the request of an individual taxpayer, after the taxpayer's true identity has been established and verified, to prevent the misuse of the taxpayer's Social Security account number on fraudulent federal income tax returns. The IRS must then publicize the availability of such identification numbers, including through electronic means.

Career Advancement through New Skills Act

United States · United States Congress · 19 October 2017

Career Advancement through New Skills Act This bill amends the Internal Revenue Code to allow a tax credit for employers that is equal to 25% of the qualified education and training expenses paid or incurred for employees. The expenses taken into account for the credit may not exceed $5,000 with respect to any employee for any taxable year. "Qualified education and training expenses" must be for a program specifically designed to maintain or improve skills of the employee which are necessary or useful either: (1) in the employee's current position with the employer, or (2) in another position with the employer to which the employer reasonably anticipates the employee may transfer. The credit does not apply to expenses for education or training programs that are provided by the employer or by certain family members or business partners of the employer.

Tax Policy Transparency Act

United States · United States Congress · 19 October 2017

Tax Policy Transparency Act This bill requires the Joint Committee on Taxation (JCT) to make publicly available an analysis of the effects of major tax legislation, including: (1) a distributional analysis, (2) a dynamic distributional after-tax wage income analysis, and (3) a written summary of the results of the analyses. During the 10-year period after major tax legislation is enacted into law, the JCT must submit to Congress annual updates for the estimates included in the analyses. "Major tax legislation" includes legislation for which the estimate provided by the JCT and the Congressional Budget Office under the Congressional Budget Act of 1974 incorporates the budgetary effects of changes in economic output, employment, capital stock, and other macroeconomic variables (commonly known as dynamic scoring).

Wildland Fires Act of 2017

United States · United States Congress · 19 October 2017

Wildland Fires Act of 2017 This bill requires the Departments of the Interior and Agriculture (USDA) to conduct a cost review each fiscal year of each wildfire covering an area greater than 100,000 acres. Appropriations for wildfire management operations in USDA's or Interior's Wildland Fire Management accounts that are not expended for a fiscal year may be available for wildfire risk reduction projects on federal land. Interior and USDA shall: (1) publish a map depicting at-risk communities (as re-defined by this bill), including tribal communities; and (2) furnish financial assistance to such communities adjacent to federal land for wildfire planning and preparations. Interior and USDA shall: (1) establish a pilot program to reduce the risk of wildfires to communities in the wildland-urban interface and reestablish natural fire regimes outside such interface, and (2) implement the program to treat specified federal land composed primarily of ponderosa or Jeffrey pines by September 30, 2027. The bill establishes the Pilot Monitoring Committee to monitor the impacts on wildfire risk and the ecological effects of the projects being implemented under such program. Interior and USDA: (1) may issue stewardship contracts or enter into stewardship agreements for up to 10 years to conduct prescribed fires on federal lands, and (2) shall establish a pilot program for awarding contracts or agreements of up to 20 years to carry out restoration projects or hazardous fuels reduction projects on federal lands. The National Forest Foundation shall establish a program to certify as a collaborative a group of interested persons that is interested in assisting USDA and Interior in increasing the quantity of projects or activities such departments carry out on an individual unit of National Forest System land or public land administered by the Bureau of Land Management in accordance with the applicable management plan.

Support Our Start-Ups Act

United States · United States Congress · 19 October 2017

Support Our Start-Ups Act This bill amends the Internal Revenue Code to extend the tax deduction for new business expenditures to organizational expenditures, generally defined as expenditures incident to the creation of a corporation or a partnership. The bill also increases the maximum deduction amount for start-up and organizational expenditures from $5,000 to $20,000 and increases from $50,000 to $120,000 the threshold amount after which the maximum deduction amount for such expenditures is reduced.

Renewable Chemicals Act of 2017

United States · United States Congress · 18 October 2017

Renewable Chemicals Act of 2017 This bill amends the Internal Revenue Code to allow: (1) a business-related tax credit for the production of renewable chemicals, and (2) a tax credit for investment in renewable chemical production facilities. The bill defines "renewable chemical" as any chemical that: (1) is produced in the United States from renewable biomass; (2) is sold or used for the production of chemical products, polymers, plastics, or formulated products or as chemicals, polymers, plastics, or formulated products; (3) has a biobased content of not less than 95%; (4) is the product of, or reliant upon, biological or thermal conversion of renewable biomass; (5) is not sold or used for the production of any food, feed, or fuel; and (6) is not a chemical for which either of the tax credits established by this bill have been claimed by the taxpayer in any taxable year. The bill requires the Department of the Treasury to establish a program to allocate renewable chemical tax credit amounts to eligible taxpayers and imposes an aggregate limit on the amount of credits that may be allocated to not more than $500 million during the 5-year period after enactment of this bill. The amount of the credits that may be allocated to any taxpayer for any taxable year may not exceed $25 million.

Small Business and Family Health Tax Relief Act of 2017

United States · United States Congress · 18 October 2017

Small Business and Family Health Tax Relief Act of 2017 This bill suspends the annual fee imposed on health-insurance providers under the Patient Protection and Affordable Care Act for 2019 and makes the fee tax-deductible beginning in 2020.

Seniors Tax Hike Prevention Act of 2017

United States · United States Congress · 18 October 2017

Seniors Tax Hike Prevention Act of 2017 This bill amends the Internal Revenue Code (IRC) to extend, through 2019, the rule that permits individuals who are 65 and older to deduct certain medical expenses that exceed 7.5% of adjusted gross income. (A provision that reduced the 10% threshold for the medical expense deduction to 7.5% if a taxpayer or a taxpayer's spouse is 65 or older expired at the end of 2016.) The bill also expresses the sense of the Senate that the reduction in revenues resulting from this bill should be offset by an appropriate amendment to the IRC.

Tax Expenditures Accountability Act

United States · United States Congress · 17 October 2017

Tax Expenditures Accountability Act This bill requires the Internal Revenue Service (IRS) to disclose information regarding tax credits for inclusion on the website established under the Federal Funding Accountability and Transparency Act of 2006. With respect to tax credits allowed for taxpayers (other than individuals) after the enactment of this bill, the IRS must disclose to the administrator of the website: (1) the name of the taxpayer, (2) the type of the tax credit allowed, and (3) the amount of the credit.

Mandate Relief Act of 2017

United States · United States Congress · 17 October 2017

Mandate Relief Act of 2017 This bill amends the Internal Revenue Code (IRC) to allow additional exemptions from the requirement under the Patient Protection and Affordable Care Act (PPACA) to maintain minimum essential health coverage (commonly referred to as the individual mandate). The bill exempts individuals who: (1) have household incomes below the national median, (2) reside in a state in which the average premium for self-only or family coverage under the second lowest cost silver plan within the state has increased by more than 10% from the prior year, or (3) reside in a county with fewer than two health insurance issuers offering qualified plans on an exchange. The bill also repeals provisions added to the IRC by PPACA that: (1) restrict payments from health savings accounts (HSAs), Archer medical savings accounts (MSAs), and health flexible spending and reimbursement arrangements for medications to prescription drugs and insulin (thus allowing payments for over-the-counter medications); (2) impose a $2,500 limitation on salary reduction contributions to a health flexible spending arrangement under a cafeteria plan; and (3) impose an additional tax on HSA and Archer MSA distributions not used for qualified medical expenses.

A concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2018 and setting forth the appropriate budgetary levels for fiscal years 2019 through 2027.

United States · United States Congress · 17 October 2017

Establishes the congressional budget for the federal government for FY2018 and sets forth budgetary levels for FY2019-FY2027. Recommends levels and amounts for FY2018-FY2027 in both houses of Congress for: federal revenues, new budget authority, budget outlays, deficits, public debt, debt held by the public, and the major functional categories of spending. Recommends levels and amounts for FY2018-FY2027 in the Senate for Social Security and Postal Service discretionary administrative expenses. Includes reconciliation instructions directing: the Senate Finance Committee to submit to the Senate Budget Committee legislation increasing the deficit by no more than $1.5 trillion over FY2018-FY2027, the Senate Energy and Natural Resources Committee to submit to the Senate Budget Committee legislation reducing the deficit by at least $1 billion over FY2018-FY2027, the House Ways and Means Committee to submit to the House Budget Committee legislation increasing the deficit by no more than $1.5 trillion over FY2018-FY2027, and the House Natural Resources Committee to submit to the House Budget Committee legislation reducing the deficit by at least $1 billion over FY2018-FY2027. (Under the Congressional Budget Act of 1974, reconciliation bills are considered by Congress using expedited legislative procedures that prevent a filibuster and restrict amendments in the Senate.) Establishes reserve funds that provide flexibility in applying budget enforcement rules to legislation addressing a wide range of specified issues across the federal budget. Sets forth budget enforcement procedures for legislation considered in the Senate.

Pathways Out of Poverty Act of 2017

United States · United States Congress · 16 October 2017

Pathways Out of Poverty Act of 2017 This bill establishes and expands various programs related to education, housing, employment, and social welfare. The Department of Education must award grants to states for the development and implementation of prekindergarten programs. The Office of Juvenile Justice and Delinquency Prevention within the Department of Justice may award grants to assist communities in addressing juvenile delinquency and gang prevention. The bill expands: the Pell Grant program, the Temporary Assistance to Needy Families (TANF) program, and the National School Lunch and School Breakfast programs. With respect to housing, the bill: phases out the federal mortgage-interest income-tax deduction, replacing it with a new mortgage-interest income-tax credit; expands the federal low-income housing income-tax credit; expands certain affordable-housing programs; and establishes a federal income-tax credit for low-income renters. With respect to employment, the bill: expands unemployment compensation benefits; establishes several new employment-related programs to be carried out by the Department of Labor; establishes a tax credit for employers that hire long-term unemployed individuals; establishes prohibitions on employment discrimination based on an individual's status as unemployed; increases the federal minimum wage, incrementally over a period of seven years, to $15.00 per hour. In addition, the bill: expands the federal earned-income tax credit, makes refundable a federal income-tax credit for dependent care expenses, and expands eligibility for certain child-care benefits. The bill also establishes: within the Congressional Budget Office, a Poverty Impact Division; and within the Department of Health and Human Services, a Federal Interagency Working Group on Reducing Poverty.

IRS Data Verification Modernization Act of 2017

United States · United States Congress · 16 October 2017

IRS Data Verification Modernization Act of 2017 This bill requires the Internal Revenue Service (IRS) to implement a program to ensure that disclosures of tax returns or return information by the IRS to a person verifying the income of a taxpayer for a legitimate business purpose are: (1) fully automated and accomplished through the Internet, and (2) accomplished in as close to real-time as is practicable. The IRS must assess and collect a fee for the disclosures described above at rates that are sufficient to recover the costs related to implementing the program not later than five years after the costs are paid or incurred.

An original concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2018 and setting forth the appropriate budgetary levels for fiscal years 2019 through 2027.

United States · United States Congress · 13 October 2017

Establishes the congressional budget for the federal government for FY2018 and sets forth budgetary levels for FY2019-FY2027. Recommends levels and amounts for FY2018-FY2027 in both houses of Congress for: federal revenues, new budget authority, budget outlays, deficits, public debt, debt held by the public, and the major functional categories of spending. Recommends levels and amounts for FY2018-FY2027 in the Senate for Social Security and Postal Service discretionary administrative expenses. Includes reconciliation instructions directing: the Senate Finance Committee to submit to the Senate Budget Committee legislation increasing the deficit by no more than $1.5 trillion over FY2018-FY2027, the Senate Energy and Natural Resources Committee to submit to the Senate Budget Committee legislation reducing the deficit by at least $1 billion over FY2018-FY2027, the House Ways and Means Committee to submit to the House Budget Committee legislation increasing the deficit by no more than $1.5 trillion over FY2018-FY2027, and the House Natural Resources Committee to submit to the House Budget Committee legislation reducing the deficit by at least $1 billion over FY2018-FY2027. (Under the Congressional Budget Act of 1974, reconciliation bills are considered by Congress using expedited legislative procedures that prevent a filibuster and restrict amendments in the Senate.) Establishes reserve funds that provide flexibility in applying budget enforcement rules to legislation addressing a wide range of specified issues across the federal budget. Sets forth budget enforcement procedures for legislation considered in the Senate.

Tax Equity and Prosperity for Puerto Rican Families Act of 2017

United States · United States Congress · 12 October 2017

Tax Equity and Prosperity for Puerto Rican Families Act of 201 7 This bill amends the Internal Revenue Code to make citizens of Puerto Rico eligible for the federal earned income tax credit and allow them to claim the refundable portion of the child tax credit on the same basis as U.S. taxpayers. In making the earned income tax credit applicable to Puerto Rican citizens, the bill modifies credit requirements to allow taxpayers in Puerto Rico to claim the credit at age 21 (rather than age 25) and to allow a credit percentage of 40, without regard to the number of qualifying children claimed by the taxpayer.

ROOT for Mainstreet Businesses Act

United States · United States Congress · 12 October 2017

Removing Onerous Obstacles in the Tax code for Mainstreet Businesses Act or the ROOT for Mainstreet Businesses Act This bill amends the Internal Revenue Code to modify the tax treatment of personal holding companies. The bill excludes from the definition of "personal holding company" a corporation with greater than 50% stock ownership held by nonresident alien individuals with no effectively connected income under tax provisions regarding expatriation to avoid tax or the taxation of nonresident alien individuals. The bill also excludes from personal holding company income certain rents and royalties that are derived in the active conduct of a trade or business and are not received from a related person.

United States Postal Service Shipping Equity Act

United States · United States Congress · 11 October 2017

United States Postal Service Shipping Equity Act This bill authorizes the mailing of alcoholic beverages by a covered entity in accordance with the delivery requirements otherwise applicable to a privately carried shipment. "Covered entity" is defined as an entity (including a winery, brewery, or beverage distilled spirits plant, or other wholesale, distributer, or retailer of alcoholic beverages) that has registered with, obtained a permit from, or obtained approval of an application from the Department of the Treasury pursuant to the Federal Alcohol Administration Act or the Internal Revenue Code provisions regarding alcohol, tobacco, and certain other excise taxes. The bill directs the U.S. Postal Service (USPS) to prescribe regulations: (1) requiring such mailing to be through a means that ensures direct delivery to a duly authorized agent at a postal facility or to the addressee, who must be at least 21 years of age and present a valid, government-issued photo identification at the time of delivery; (2) prohibiting such alcoholic beverages from being for resale or any other commercial purpose; and (3) requiring such covered entity to certify that the mailing is not in violation of applicable laws or regulations and to provide other information as directed by the USPS, including with respect to the prepayment of state alcohol beverage taxes.

Protecting Access to the Courts for Taxpayers Act

United States · United States Congress · 10 October 2017

Protecting Access to the Courts for Taxpayers Act This bill amends the federal judicial code to authorize a U.S. district court, a U.S. court of appeals, the U.S. Court of Federal Claims, or the Court of International Trade to transfer to the U.S. Tax Court a misfiled case within the Tax Court's jurisdiction.

Student Loan Relief Act of 2017

United States · United States Congress · 10 October 2017

Student Loan Relief Act of 201 7 This bill authorizes the Department of the Treasury to establish a temporary three-year program to facilitate federal student loan refinancing into the private market, at no cost to the federal government, to ensure payment of lower interest rates on student loans. Private lenders under such refinancing program shall be eligible to receive a federal government guarantee of 95% of loans. Treasury shall, in consultation with the Department of Education, begin a national awareness campaign to alert student loan borrowers about such refinancing program with a disclosure that a private loan that results from such refinancing is not eligible for income driven repayment or loan forgivingness. The bill amends the Internal Revenue Code to allow an exclusion from gross income for the payment of an employer, either to an employee or a lender, of any indebtedness of an employee under a qualified education refinance loan or any interest relating to such a loan. The term "qualified education refinance loan" means any indebtedness used solely to refinance a qualified education loan with respect to which the lender offers the borrower protection in the event of unemployment or financial hardship.

Affirming the constitutional power of Congress over the Nation's debts.

United States · United States Congress · 10 October 2017

Affirms that: (1) the Constitution gives Congress power over the nation's debts; (2) limiting the debt is an essential exercise of this authority; and (3) removing limitations on the debt would inappropriately cede this authority, remove a critical check on future increases in deficit spending and the national debt, and potentially exacerbate the already unsustainable fiscal position of the United States and its national security.

COMMERCE, JUSTICE, SCIENCE, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2018

United States · United States Senate · 7 October 2017

Community Institution Mortgage Relief Act of 2017

United States · United States Congress · 5 October 2017

Community Institution Mortgage Relief Act of 2017 This bill amends the Truth in Lending Act to create a safe harbor from requirements for an escrow or impound account for the payment of taxes and hazard insurance in the case of mortgage loans made by a creditor with consolidated assets of $25 billion or less that holds the loan on its balance sheet for three years after its origination. A creditor shall be deemed to have complied with the three-year balance sheet requirement if it transfers a loan by reason of its bankruptcy or failure, the purchase of it by another, or by a supervisory act or recommendation from a state or federal regulator. The Consumer Financial Protection Bureau is required to exempt mortgage servicers that service 30,000 or fewer mortgage loans from requirements of the Real Estate Settlement Procedures Act of 1974 pertaining to the servicing of mortgage loans and administration of escrow accounts.

Social Security Tax Fairness Act

United States · United States Congress · 5 October 2017

Social Security Tax Fairness Act This bill amends the Internal Revenue Code, with respect to the taxation of Social Security benefits, to: (1) increase the income thresholds above which Social Security benefits are subject to certain taxes, (2) require the income thresholds for joint returns to be twice the amounts in effect for other taxpayers, and (3) require the thresholds to be adjusted for inflation after 2018.

Universal Charitable Giving Act of 2017

United States · United States Congress · 5 October 2017

Universal Charitable Giving Act of 2017 This bill amends the Internal Revenue Code to allow a deduction from gross income (above-the-line deduction) for charitable contributions of individuals who do not elect to itemize deductions for the taxable year. The deduction may not exceed one-third of the standard deduction of the individual.

STRANDED Act of 2017

United States · United States Congress · 5 October 2017

Sensible, Timely Relief for America's Nuclear Districts' Economic Development Act of 2017 or the STRANDED Act of 2017 This bill requires the Department of Energy (DOE) to enter into an arrangement under which the National Academy of Sciences must conduct a study to determine whether opportunities exist for affected communities to consider alternatives to nuclear facilities, generating sites, and waste sites. DOE must also: (1) establish the Stranded Nuclear Waste Task Force to study existing public and private resources and funding for affected communities, and (2) establish a grant program to assist localities near nuclear power plants to offset the impacts of stranded nuclear waste in affected communities. The bill amends the Internal Revenue Code to provide for tax incentives for investment in nuclear affected communities.

A bill to amend the Internal Revenue Code of 1986 to allow unpopulated census tracts that are contiguous to low-income communities to be treated as low-income communities under the new markets tax credit.

United States · United States Congress · 5 October 2017

This bill amends the Internal Revenue Code to permit a census tract that has a population of zero and is contiguous to one or more low-income communities to be treated as a low-income community for the purpose of the new markets tax credit.

Stronger Way Act

United States · United States Congress · 5 October 2017

Stronger Way Act This bill requires the Department of Labor to establish a program, through grant agreements with state and local government agencies, that provides eligible unemployed or partially-employed individuals with opportunities to work in a transitional job for the purpose of enabling them to gain, through wage-paying jobs, the experience and skills needed to move into regular employment. The bill also amends the Internal Revenue Code to revise the formula for the earned income tax credit and make the child tax credit fully refundable.

Tribal Tax and Investment Reform Act of 2017

United States · United States Congress · 5 October 2017

Tribal Tax and Investment Reform Act of 201 7 This bill amends the Internal Revenue Code (IRC) to include Indian tribal governments in an annual allocation of a national tax-exempt bond volume cap. The bill repeals provisions that limit an Indian tribal government's eligibility to issue tax-exempt bonds or to be exempt from specified excise taxes to transactions involving the exercise of an essential government function customarily performed by state and local governments. The bill amends the IRC and the Employee Retirement Income Security Act of 1974 (ERISA) to treat employee benefit or pension plans maintained by Indian tribes and domestic relations orders issued pursuant to tribal law in the same manner as plans maintained by states and domestic relations orders issued pursuant to state law. The bill treats tribal charities and foundations in the same manner as charities and foundations funded and controlled by other governmental entities for purposes of the tax-exempt status of, and deduction for contributions to, such organizations. The bill amends the Social Security Act to give Indian tribes or tribal organizations access to the Federal Parent Locator Service if they are eligible for a grant to operate a child support enforcement program. It makes those tribes and tribal organizations eligible to participate in the program that collects past-due support from individual tax refunds. An Indian tribal government may determine whether a child has special needs for the purpose of the tax credit for the adoption of a child with special needs.

Municipal Bond Market Support Act of 2017

United States · United States Congress · 5 October 2017

Municipal Bond Market Support Act of 2017 This bill amends the Internal Revenue Code, with respect to the limitations on deductions for interest expenses of financial institutions that hold tax-exempt bonds, to: permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that may be issued to qualify for the small issuer exception to the tax-exempt interest expense allocation rules; require the limit for the small issuer exception to be adjusted for inflation after 2017; make permanent the rule that allows qualified 501(c)(3) bonds to be treated is if they were issued by the tax-exempt organization for whose benefit the bond was issued; and make permanent the special rule for the tax treatment of qualified financings used to make or finance loans to certain states, political subdivisions, or tax-exempt organizations.

STARS Act

United States · United States Congress · 4 October 2017

Simplifying Technical Aspects Regarding Seasonality Act of 2017 or the STARS Act This bill amends the Internal Revenue Code to exclude seasonal employees from the definition of "full-time employee" for purposes of the employer mandate to provide employees with minimum essential health care coverage. The bill defines a "seasonal employee" as an employee who is employed in a position for which the customary annual employment is not more than six months and which requires performing labor or services that are ordinarily performed at certain seasons or periods of the year.

Commonsense Reporting Act of 2017

United States · United States Congress · 3 October 2017

Commonsense Reporting Act of 2017 This bill amends the Patient Protection and Affordable Care Act and the Internal Revenue Code to modify the requirements for employers to report health insurance coverage information to the Internal Revenue Service (IRS) by the end of the tax year. The bill changes the information that is required and permits employers to voluntarily report the information prior to the beginning of open enrollment. The Department of the Treasury must develop a prospective reporting system to permit: employers to voluntarily report specified health insurance coverage information before the annual open enrollment period; the exchanges, the Federal Marketplace Data Services Hub, and the IRS to access the information to carry out their missions and provide the Department of Health and Human Services with information related to eligibility for advance payment of premium tax credits and cost-sharing subsidies; the exchanges to communicate with employers and employees regarding eligibility for the tax credits or cost-sharing subsidies; and employers to provide updates to the hub regarding changes in coverage for employees. At the time of enrollment, exchanges must provide employers the names of employees and dependents that enroll in a qualified health plan for a year. If a health insurance issuer or employer is unable to obtain the taxpayer identification number of a dependent, Treasury may permit the individual's full name and date of birth to be used instead. Employers participating in the reporting system established by this bill are exempt from the requirement to report health insurance coverage information to the IRS by the end of the tax year.

Providing for consideration of the concurrent resolution (H. Con. Res. 71) establishing the congressional budget for the United States Government for fiscal year 2018 and setting forth the appropriate budgetary levels for fiscal years 2019 through 2027.

United States · United States Congress · 3 October 2017

Sets forth the rule for consideration of the concurrent resolution (H. Con. Res. 71) establishing the congressional budget for the United States Government for fiscal year 2018 and setting forth the appropriate budgetary levels for fiscal years 2019 through 2027.

Patriot Employer Act of 2017

United States · United States Congress · 3 October 2017

Patriot Employer Act of 2017 This bill amends the Internal Revenue Code to allow a Patriot employer a business-related tax credit equal to 10% of up to $15,000 of wages paid to any employee in a taxable year. The bill sets forth criteria for designation as a Patriot employer, including requirements that such employer: (1) maintains its headquarters in the United States and does not expatriate to avoid payment of U.S. income taxes, (2) complies with the employer mandate to provide minimum essential health care coverage to its employees under the Patient Protection and Affordable Care Act, (3) provides employees with paid sick leave or paid family and medical leave, (4) compensates at least 90% of its employees at an hourly rate that is at least 218% of the federal poverty level for an individual for the calendar year divided by 1,750 and provides at least 90% of its employees with a basic level of retirement benefits, (5) provides for differential wage payments to its employees who are members of the Uniformed Services, (6) has a written policy in place for the recruitment of employees who have served in the Uniformed Services or who are disabled, and (7) increases the number of its employees performing substantially all of their services inside the United States to offset the number of employees who work outside the United States. The bill also sets forth a rule for the deferral of the tax deduction for foreign-related interest expense.