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Bill· HRH.R. 7979 (118th)open

End China’s De Minimis Abuse Act

United States · United States Congress · 15 April 2024

End China’s De Minimis Abuse Act This bill prohibits certain U.S. imports from receiving  de minimis treatment and establishes related civil penalties. (Current law allows for imports under a  de minimis threshold to enter the United States free of tariffs and taxes with minimal inspection. In 2016, Congress raised this threshold from $200 to $800.) The bill prohibits imports from receiving de minimis treatment if those imports are subject to specified trade remedies, including antidumping and countervailing duty tariffs (Subtitle A or B of Title VII of the Tariff Act of 1930), safeguard measures (Section 201 of the Trade Act of 1974), actions in response to unfair trade practices (Section 301 of the Trade Act of 1974), or  actions for national security purposes (Section 232 of the Trade Expansion Act of 1962). The bill requires imports from countries that are subject to trade restrictions under Section 301 of the Trade Act of 1974, in order to receive de minimis treatment, to have a 10-digit classification of the import under the Harmonized Tariff Schedule of the United States (HTS) that is provided to U.S. Customs and Border Protection. (HTS sets out the tariff rates and statistical categories for all U.S. imports.) The bill also establishes civil penalties for any person who enters, introduces, or attempts to introduce an import in violation of this bill.

Bill· HRH.R. 7983 (118th)open

Stop Executive Overreach on Trade Agreements

United States · United States Congress · 15 April 2024

Stop Executive Overreach on Trade Agreements This bill defines free trade agreement for purposes of the clean vehicle tax credit. A free trade agreement is an international agreement approved by Congress that eliminates duties and other restrictive regulations of commerce on substantially all the trade between the United States and one or more other countries.   

Bill· HRH.R. 7991 (118th)referred

Safeguarding American Workers’ Benefits Act

United States · United States Congress · 15 April 2024

Safeguarding American Workers' Benefits Act   This bill modifies identification requirements for taxpayers claiming the child tax credit and the earned income tax credit. Such taxpayers must provide Social Security account numbers for themselves and for dependent children who have not attained age 17. 

Bill· HRH.R. 7980 (118th)referred

End Chinese Dominance of Electric Vehicles in America Act of 2024

United States · United States Congress · 15 April 2024

End Chinese Dominance of Electric Vehicles in America Act of 2024 This bill excludes from the new clean vehicle tax credit vehicles that contain components or material processed by a prohibited foreign entity (i.e., a terrorist organization) or an entity with ties to China, Iran, Russia, or North Korea. 

Bill· HRH.R. 7995 (118th)referred

Protecting the American Taxpayer from IRS Mishandling Act of 2024

United States · United States Congress · 15 April 2024

Protecting the American Taxpayer from IRS Mishandling Act of 2024 This bill suspends the running of the statute of limitations for filing for tax refunds to include any period in which the taxpayer is unable to file necessary documents or otherwise meet a tax deadline due to the negligence or malfeasance of the Internal Revenue Service. 

Bill· HRH.R. 8013 (118th)referred

Gig Is Up Act

United States · United States Congress · 15 April 2024

Gig Is Up Act  This bill requires businesses that have at least $100 million in gross receipts in a calendar year and with whom at least $10,000 individuals contract to provide services as independent contractors to pay both the employer and employee payroll tax contributions to Social Security and Medicare. 

Bill· HRH.R. 8004 (118th)referred

Expanding Child Care Access Act of 2024

United States · United States Congress · 15 April 2024

Expanding Child Care Access Act of 2024 This bill allows qualified family child care providers a refundable tax credit for up to $5,000 of their qualified child care startup expenses. The bill defines qualified family child care provider as a family child care provider that (1) provides child care services for compensation and is licensed or registered under state law and satisfies state and local requirements for providing child care; (2) primarily provides child care at its primary residence; and (3) has provided child care services to not less than two children for a significant portion of a taxable year.  The bill defines qualified child care startup expenses as amounts paid to establish and operate a qualified family child care provider. This includes child care licensing fees, liability insurance, and outdoor playground equipment, among other expenditures.

Bill· HRH.R. 7993 (118th)referred

Estate Tax Rate Reduction Act

United States · United States Congress · 15 April 2024

Estate Tax Rate Reduction Act This bill reduces the rate for the tax on estates, gifts, and generation-skipping transfers to 20%. (Under current law, the highest rate is 40%.) The bill also exempts the budgetary effects of the tax reduction from the Pay-As-You-Go (PAYGO) rules established by the Statutory Pay-As-You-Go Act of 2010 and the FY2018 congressional budget resolution. 

Resolution· HRESH.Res. 1141 (118th)referred

Francis Scott Key Bridge Disaster Taxpayer Reimbursement Resolution

United States · United States Congress · 12 April 2024

Francis Scott Key Bridge Disaster Taxpayer Reimbursement Resolution This resolution expresses the sense of the House of Representatives that the federal government should recoup monies from the responsible parties for all damages resulting from the allision of the cargo shipping vessel Dali with the Francis Scott Key Bridge on March 26, 2024.   

Bill· HRH.R. 7912 (118th)referred

Fight for Siblings Act of 2024

United States · United States Congress · 9 April 2024

Fight for Siblings Act of 2024 This bill increases from $10,000 to $20,000 the aggregate amount of adoption expenses that may be taken into account for purposes of the adoption tax credit for taxpayers who finalize the adoption of two siblings in the same taxable year.   

Bill· HRH.R. 7905 (118th)referred

STAMP Act of 2024

United States · United States Congress · 9 April 2024

Stop Taxes Against Menstrual Products Act of 2024 or the STAMP Act of 2024 This bill makes it unlawful for a state or local government to impose a tax on the retail sale of a menstrual product.     

Bill· HRH.R. 7870 (118th)referred

Tip Tax Termination Act

United States · United States Congress · 5 April 2024

Tip Tax Termination Act  This bill excludes from gross income, for income tax purposes, eligible tips not exceeding $20,000 in a taxable year. The bill defines eligible tips as amounts received by a taxpayer while performing services in a position that generally relies on tips as part of wages, including cosmetology, hospitality, and food service. This tax exclusion terminates with respect to tips received after 2028.   

Bill· HRH.R. 7849 (118th)referred

Disaster Resiliency and Coverage Act of 2024

United States · United States Congress · 29 March 2024

Disaster Resiliency and Coverage Act of 2024 This bill establishes a grant program for certain hazard mitigation measures for homes in disaster risk areas and provides a tax credit for up to 30% of expenditures on such mitigation measures. It also excludes from taxable income certain payments for residential hazard mitigation and federal emergency agricultural assistance.  The bill requires the Federal Emergency Management Agency (FEMA) to award grants to states and Indian tribal governments for specified hazard mitigation activities on residential properties at a high risk of experiencing a major disaster. FEMA must establish disaster risk areas in which homes are eligible for the grant funding. Individual residential households, subject to certain income limitations, may receive up to $10,000 (adjusted for inflation) for eligible hazard mitigation activities, such as reinforcing a roof, installing a flood control system, or reducing flammable vegetation near the home. The bill also provides an income tax credit to individuals and businesses for up to 30% of expenditures on the specified residential mitigation activities eligible under the grant program. Additionally, under current law, payments for disaster relief and payments under federal hazard mitigation programs are excluded from taxable income. The bill specifically excludes from taxable income payments to an individual for hazard mitigation improvements to their residence under any program established or administered by a state or local government. The bill also excludes certain federal emergency and disaster agricultural assistance from taxable income as a type of disaster relief payment.

Bill· HRH.R. 7852 (118th)referred

LEAP Act

United States · United States Congress · 29 March 2024

Leveraging and Energizing America's Apprenticeship Programs Act or the LEAP Act This bill allows employers a business-related tax credit of $1,500 for hiring an apprenticeship employee who has not attained age 25 at the close of the taxable year or $1,000 for hiring an apprenticeship employee who has attained age 25. The credit is available for no more than two taxable years with respect to any apprenticeship employee. An apprenticeship employee is any employee who is (1) a party to an apprenticeship agreement registered with the Office of Apprenticeship of the Employment and Training Administration of the Department of Labor or a recognized state apprenticeship agency; and (2) employed by the employer in the occupation identified in the apprenticeship agreement, whether or not the employer is a party to such agreement.

Bill· HRH.R. 7828 (118th)referred

Pink Tax Repeal Act

United States · United States Congress · 26 March 2024

Pink Tax Repeal Act This bill prohibits any person from selling (or offering to sell) substantially similar consumer products or services at different prices based on the gender of the intended purchaser. If, for example, the only difference between two products is the color, they are substantially similar. The bill provides authority for the Federal Trade Commission and state attorneys general to enforce these requirements. 

Bill· HRH.R. 7821 (118th)referred

SAFE Retail Act of 2024

United States · United States Congress · 26 March 2024

Safer American Family Enterprise Retail Act of 2024 or the SAFE Retail Act of 2024 This bill allows small business retailers a tax credit through 2029 for certain retail theft prevention expenditures. The amount of the credit is 50% of such expenditures as exceeds $250 but does not exceed $5,000. Such expenditures include the cost of conducting employee security training and background checks, limiting and preventing access to the personal property to be sold at retail by the business operator, installing security lighting, cameras, recording equipment, and intrusion detection sensors, and implementing a site security plan.     

Bill· HRH.R. 7831 (118th)referred

Preventing Financial Exploitation in Higher Education Act

United States · United States Congress · 26 March 2024

Preventing Financial Exploitation in Higher Education Act This bill establishes financial penalties for institutions of higher education (IHEs) with endowments of $2.5 billion or more that have specified percentages of current and former students who default, are delinquent, or underpay on their federal student loans. The bill also imposes an increased excise tax on net investment income of certain IHEs that increase tuition beyond certain levels. Specifically, the bill requires such an IHE to pay penalties to the Department of Education based on the IHE's cohort default rate (the percentage of how many borrowers default on their federal student loans in a fiscal year), cohort delinquency rate (the percentage of borrowers who are between 31- and 360-days past-due on their federal student loans), and cohort underpayment rate (the percentage of borrowers who are making regular payments on their federal student loans, are neither delinquent nor in default on those loans, but for whom the outstanding balances on their loans exceed the sum of the original loan balances). For example, for FY2024, an IHE with a cohort default rate of 11% or more must pay a penalty in an amount equal to 30% of the total outstanding balance of principal and interest due on all federal student loans. The bill also imposes an increased excise tax equal to 25% of the net investment income of an IHE with an endowment of $2.5 billion or more that charges tuition exceeding the inflation adjustment base amount for the taxable year.

Bill· HRH.R. 7830 (118th)referred

PAW Act of 2024

United States · United States Congress · 26 March 2024

Protect American Widows Act of 2024 or the PAW Act of 2024 This bill redefines surviving spouse for purposes of the applicable filing status of such individuals. It expands from two to five years amount of time a spouse must survive a deceased spouse in order to qualify for joint filing status as a married taxpayer.   

Bill· SS. 4057 (118th)referred

Stop Tax Penalties on American Hostages Act of 2024

United States · United States Congress · 22 March 2024

Stop Tax Penalties on American Hostages Act of 2024 This bill postpones certain tax filing deadlines for U.S. nationals and their spouses who are unlawfully or wrongfully detained abroad or held hostage abroad. It also allows for a refund and abatement of penalties and fines paid by detained individuals. 

Bill· HRH.R. 7791 (118th)referred

Stop Tax Penalties on American Hostages Act of 2024

United States · United States Congress · 22 March 2024

Stop Tax Penalties on American Hostages Act of 2024 This bill postpones certain tax filing deadlines for U.S. nationals and their spouses who are unlawfully or wrongfully detained abroad or held hostage abroad. It also allows for a refund and abatement of penalties and fines paid by detained individuals.

Bill· HRH.R. 7813 (118th)referred

Child Tax Credit Integrity Act

United States · United States Congress · 22 March 2024

Child Tax Credit Integrity Act   This bill requires an individual taxpayer to provide social security account numbers to claim the child tax credit. The social security number must be that of the taxpayer and the taxpayer's spouse (for joint returns) and the child named on the tax return. 

Bill· SS. 4011 (118th)referred

Stop Subsidizing Giant Mergers Act

United States · United States Congress · 21 March 2024

Stop Subsidizing Giant Mergers Act  This bill eliminates the deferral of tax for shareholders who receive stock through corporate mergers, acquisitions, or transfers involving corporations with annual gross receipts exceeding $500 million over the three preceding taxable year period.

Bill· HRH.R. 7780 (118th)referred

Safeguarding Investment Options for Retirement Act

United States · United States Congress · 21 March 2024

Safeguarding Investment Options for Retirement Act This bill prohibits tax-exempt retirement plans (e.g., 401ks) from making investment decisions based on factors other than financial risk and return factors.   

Bill· SS. 3988 (118th)referred

GRATS Act

United States · United States Congress · 20 March 2024

Getting Rid of Abusive Trust Schemes Act or the GRATS Act This bill imposes new requirements on grantor retained annuity trusts (GRATs) to discourage tax avoidance schemes by wealthy taxpayers. Specifically, such trusts must have a minimum term of 15 years and a maximum term of the life expectancy of the annuitant plus 10 years. The bill also prohibits any decrease in a GRAT during its term and requires that the remainder interests in such trusts at the time of their transfer must have a minimum value for gift tax purposes.  The bill also treats a transfer of property between a GRAT and its deemed owner as a sale or exchange for income tax purposes, with specified exceptions. The bill designates any income tax paid on the income of a GRAT as a gift for purposes of the gift tax unless the owner of the trust is reimbursed during the same calendar year. The amount of the gift may not be reduced through the use of certain deductions, including the charitable or marital deduction, or gifts of tuition or medical care.      

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