US Congress Subject | Income tax credits

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USHB5376PassTITLE I--COMMITTEE ON FINANCE Subtitle A--Deficit Reduction Part 1--Corporate Tax Reform (Sec. 10101) This act imposes an alternative minimum tax of 15% of the average annual adjusted financial statement income of domestic corporations (excluding Sub...
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2022-08-16
Became Public Law No: 117-169.
USHB3039Intro
25%
Imposes a tax on the greenhouse gas emissions of fossil fuels, certain industrial processes, and certain product uses. The bill transfers tax revenue to a Rebuilding Infrastructure and Solutions for the Environment Trust Fund (RISE Trust Fund) establ...
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2022-07-05
To House Subcommittee on Energy and Mineral Resources
USHB7910Engross
50%
Makes various changes to federal firearms laws, including to establish new criminal offenses and to expand the types of weapons and devices that are subject to regulation. Among the changes, the bill generally prohibits the sale or transfer of certai...
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2022-06-09
Received in the Senate.
USHB7902Intro
25%
Provides a new tax credit through 2024 for 10% of freight railcar fleet modernization expenses (i.e., railcar replacement and modernization expenses for meeting fuel efficiency and performance standards). The bill provides that no more than 2,000 fre...
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2022-05-27
To House Ways And Means Committee
USHB7901Intro
25%
Denies the foreign tax credit and the tax deduction for income, war profits, and excess profits taxes paid to Russia and Belarus. The bill also denies certain other tax benefits in connection with the invasion of Ukraine, including any tax treaty ben...
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2022-05-27
To House Ways And Means Committee
USHB604Intro
25%
Provides support for long-term improvements to public elementary and secondary school facilities. First, the bill sets forth allocations to states and establishes a need-based grant program for local educational agencies (LEAs) to improve school faci...
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2022-05-18
Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 19.
USSB3140Intro
25%
Make the tax credit for residential energy efficient property refundable after 2022. It also requires that residential energy efficient property placed in service after 2022 must be installed by a qualified installer. A qualified installer must provi...
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2022-05-18
Committee on Banking, Housing, and Urban Affairs. Hearings held.
USSB4218Intro
25%
Denies the foreign tax credit and the tax deduction for income, war profits, and excess profits taxes paid to Russia and Belarus. The bill also denies certain other tax benefits in connection with the invasion of Ukraine, including any tax treaty ben...
[Detail][Text][Discuss]
2022-05-12
To Senate Finance Committee
USSB4204Intro
25%
Establishes a national health insurance program that is administered by the Department of Health and Human Services (HHS). Among other requirements, the program must (1) cover all U.S. residents; (2) provide for automatic enrollment of individuals up...
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2022-05-12
To Senate Finance Committee
USSB4181Intro
25%
Permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by Dec...
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2022-05-11
To Senate Finance Committee
USHB7485Intro
25%
Limits Internal Revenue Service (IRS) enforcement authority and modifies certain IRS reporting requirements. It also eliminates certain restrictions on the use of coronavirus recovery funds. Among other provisions, the bill increases the gross receip...
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2022-04-07
To House Ways And Means Committee
USSB4046Intro
25%
Limits Internal Revenue Service (IRS) enforcement authority and modifies certain IRS reporting requirements. It also eliminates certain restrictions on the use of coronavirus recovery funds. Among other provisions, the bill increases the gross receip...
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2022-04-07
To Senate Finance Committee
USHB7410Intro
25%
Allows employers tax credits for domestic medical and drug manufacturing expenses and for advanced medical manufacturing equipment. It also provides a tax credit for a percentage of the basis of qualifying medical manufacturing EPA compliance propert...
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2022-04-05
To House Ways And Means Committee
USHB7155Intro
25%
Prohibits the importation of petroleum and petroleum products from Russia until Russia recognizes the sovereignty and territorial integrity of Ukraine. The bill allows a new tax credit for the sale or blending of ethanol fuels. It also extends throug...
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2022-04-04
To House Commodity Exchanges, Energy, and Credit Committee
USSB1422Intro
25%
Allows a business-related tax credit for employers who increase worker training expenditures. The credit is equal to 20% of the excess of (1) the qualified training expenditures for the year, over (2) the average of the adjusted qualified training ex...
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2022-03-22
Committee on Banking, Housing, and Urban Affairs. Hearings held.
USHB7143Intro
25%
Expresses the sense of Congress that energy rebates to individual taxpayers are required due to the global disruptions caused by COVID-19 and the Russian invasion of Ukraine. The bill allows an income-based tax credit beginning in 2022 for the sum of...
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2022-03-17
To House Ways And Means Committee
USHB7103Intro
25%
Imposes a 50% excise tax through 2023 on the adjusted taxable income of certain major integrated oil companies during calendar quarters when the national average price of unleaded gasoline is equal to or greater than the national average price of unl...
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2022-03-16
To House Ways And Means Committee
USHB7078Intro
25%
Permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by Dec...
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2022-03-15
To House Oversight and Reform Committee
USHB7061Intro
25%
Imposes an excise tax on the windfall profits of crude oil on taxpayers who extracted and imported more than 300,000 barrels (a barrel equals 42 U.S. gallons) of taxable crude oil (i.e., crude oil, crude oil condensates, and natural gasoline) in 2019...
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2022-03-11
To House Ways And Means Committee
USSB3802Intro
25%
Imposes an excise tax on the windfall profits of crude oil on taxpayers who extracted and imported more than 300,000 barrels (a barrel equals 42 U.S. gallons) of taxable crude oil (i.e., crude oil, crude oil condensates, and natural gasoline) in 2019...
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2022-03-10
To Senate Finance Committee
USSB3787Intro
25%
Prohibits the importation of petroleum and petroleum products from Russia until Russia recognizes the sovereignty and territorial integrity of Ukraine. The bill allows a new tax credit for the sale or blending of ethanol fuels. It also extends throug...
[Detail][Text][Discuss]
2022-03-08
To Senate Finance Committee
USHB6144Intro
25%
To delay and offset the sequester to occur in January 2022 under the Statutory Pay-As-You-Go Act of 2010, and for other purposes.
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2022-01-04
To House Subcommittee on Nutrition, Oversight, and Department Operations
USHB6309Intro
25%
Directs the U.S. Trade Representative (USTR) to take certain actions to strengthen supply chains for critical goods. It also incentivizes the manufacturing of critical goods. Specifically, the bill requires the USTR to develop and implement a strateg...
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2021-12-16
To House Ways And Means Committee
USSB3393Intro
25%
Permanently extends the tax credit for the health insurance costs of individual taxpayers and their family members.
[Detail][Text][Discuss]
2021-12-14
To Senate Finance Committee
USSB3259Intro
25%
Allows Indian tribal governments to determine whether a child has special needs for the purposes of the adoption tax credit.
[Detail][Text][Discuss]
2021-11-18
To Senate Finance Committee
USSB3091Intro
25%
Allows a new tax credit for the production and sale of certain solar equipment produced and sold in a taxpayer's trade or business.
[Detail][Text][Discuss]
2021-10-27
To Senate Finance Committee
USSB3009Intro
25%
Removes a prohibition on states and territories using COVID-19 relief funding under the American Rescue Plan Act of 2021 to offset a reduction in revenue resulting from a reduction in taxes or a delay in the imposition of a tax or tax increase.
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2021-10-20
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 150.
USHB2336Intro
25%
Establishes two Health, Opportunity, and Personal Empowerment (HOPE) pilot projects to improve economic security for individuals who meet income or other requirements. The Department of Health and Human Services (HHS), the Department of Agriculture, ...
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2021-10-19
To House Subcommittee on Crime, Terrorism, and Homeland Security
USHB4309Intro
25%
Sets forth provisions to reduce greenhouse gas emissions, including by establishing (1) a Clean Energy Deployment Administration within the Department of Energy; (2) a zero-emission electricity standard; and (3) incentives, such as tax credits and gr...
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2021-10-01
Executive Comment Requested from Def Nuc Agcy.
USHB5423Intro
25%
Allows a new tax credit for the production and sale of certain solar equipment produced and sold in a taxpayer's trade or business.
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2021-09-29
To House Ways And Means Committee
USHB5369Intro
25%
Revises the definition of qualifying advanced energy project for purposes of the tax credit for such project. Specifically, the bill expands the definition to include property designed to produce energy from water, property designed to produce energy...
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2021-09-24
To House Ways And Means Committee
USHB5354Intro
25%
Allows a new business-related tax credit for the start-up expenses of a veteran-owned small business in an underserved community. The allowable amount of such credit is 15% of start-up expenditures that do not exceed $50,000. To be eligible for the c...
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2021-09-23
To House Ways And Means Committee
USSB2812Intro
25%
Allows a new business-related tax credit for the start-up expenses of a veteran-owned small business in an underserved community. The allowable amount of such credit is 15% of start-up expenditures that do not exceed $50,000. To be eligible for the c...
[Detail][Text][Discuss]
2021-09-23
To Senate Finance Committee
USSB2820Intro
25%
Provides grants, loans, tax credits, and other assistance to promote the building, maintenance, and affordability of housing.Specifically, the bill requires the Department of Housing and Urban Development to (1) provide housing vouchers to individual...
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2021-09-23
To Senate Finance Committee
USHB5234Intro
25%
Allows Indian tribal governments to elect to receive payments, in lieu of tax credits, for energy property and electricity produced from certain renewable resources.
[Detail][Text][Discuss]
2021-09-10
To House Ways And Means Committee
USHB5233Intro
25%
Expands the tax credit for nonbusiness energy property to include a credit for home energy audits. The amount of such credit is 30% of the cost of a home energy audit, not to exceed $150. The bill defines home energy audit to mean an inspection and w...
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2021-09-10
To House Ways And Means Committee
USSCR14Engross
50%
This concurrent resolution establishes the congressional budget for the federal government for FY2022, sets forth budgetary levels for FY2023-FY2031, and provides reconciliation instructions for legislation that increases the deficit. The resolution ...
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2021-08-24
Pursuant to the provisions of H. Res. 601, S. Con. Res. 14 is considered passed House. (text: CR H4372-4384)
USHB5032Intro
25%
Establishes a new tax credit for wages and tangible investments made by U.S. domestic corporations with branches operating in U.S. territories. It requires that 80% of credible income must be derived from a territory during a 3-year period, and 75% m...
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2021-08-13
To House Ways And Means Committee
USSB2680Intro
25%
Imposes an additional 7% tax on the adjusted net book income of a corporation that exceeds $100 million. It also allows a credit for a taxpayer, other than an S corporation, for a specified percentage of the taxpayer's net regular tax liability.
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2021-08-09
To Senate Finance Committee
USHB4940Intro
25%
Imposes an additional 7% tax on the adjusted net book income of a corporation that exceeds $100 million. It also allows a credit for a taxpayer, other than an S corporation, for a specified percentage of the taxpayer's net regular tax liability.
[Detail][Text][Discuss]
2021-08-06
To House Ways And Means Committee
USHB4817Intro
25%
Allows an income-based tax credit for the purchase of a previously-owned qualified plug-in electric drive motor vehicle. The credit is limited to 30% of the sales price of such a vehicle. The bill defines previously-owned qualified plug-in electric d...
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2021-07-29
To House Ways And Means Committee
USSB2558Intro
25%
Allows an investment tax credit through 2026 for 25% of the basis of each livestock processing facility property placed in service during the taxable year. The amount of the credit may not exceed $250,000 in any taxable year and is not available to t...
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2021-07-29
To Senate Finance Committee
USSB2537Intro
25%
Allows an income-based tax credit for the purchase of a previously-owned qualified plug-in electric drive motor vehicle. The credit is limited to 30% of the sales price of such a vehicle. The bill defines previously-owned qualified plug-in electric d...
[Detail][Text][Discuss]
2021-07-29
To Senate Finance Committee
USSB2529Intro
25%
Allows certain C corporation taxpayers to elect an increased advance refund of net operating loss carryovers attributable to COVID-19 research expenditures in 2020 and 2021. The bill also allows such taxpayers an advance refund of certain other net o...
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2021-07-29
To Senate Finance Committee
USHB4854Intro
25%
Allows an investment tax credit through 2026 for 25% of the basis of each livestock processing facility property placed in service during the taxable year. The amount of the credit may not exceed $250,000 in any taxable year and is not available to t...
[Detail][Text][Discuss]
2021-07-29
To House Ways And Means Committee
USHB4758Intro
25%
Extends and modifies the production tax credit for steel industry fuel. (Under current law, steel industry fuel is a fuel that is (1) produced through a process of liquefying coal waste sludge and distributing it on coal, and (2) used as a feedstock ...
[Detail][Text][Discuss]
2021-07-28
To House Ways And Means Committee
USSB2485Intro
25%
Establishes a new tax credit for wages and tangible investments made by U.S. domestic corporations with branches operating in U.S. territories. It requires that 80% of credible income must be derived from a territory during a 3-year period, and 75% m...
[Detail][Text][Discuss]
2021-07-27
To Senate Finance Committee
USHB4687Intro
25%
Expands the tax credits that are available for the establishment of supermarkets in underserved areas. The bill includes provisions that (1) increase the rate of the rehabilitation tax credit for a supermarket building placed in service after Decembe...
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2021-07-26
To House Ways And Means Committee
USSB2434Intro
25%
Allows individual taxpayers a tax credit up to $250 in any taxable year for subscriptions to one or more local newspapers for the taxpayer's personal use. It also allows a local news journalist employer a payroll credit for wages paid to local news j...
[Detail][Text][Discuss]
2021-07-22
To Senate Finance Committee
USSB2452Intro
25%
Sets forth provisions to provide matching payments for retirement savings and Individual Retirement Account (IRA) contributions for individuals who have attained the age of 18 years, excluding taxpayer dependents. Specifically, it allows an enhanced ...
[Detail][Text][Discuss]
2021-07-22
To Senate Finance Committee
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