Budget & Taxes

in committee · United States · House Sep 3, 2026

HR 10256: Taxpayer Relief from Big Oil Act

The Taxpayer Relief from Big Oil Act would eliminate existing royalty relief programs for oil and gas companies operating in the Gulf of Mexico and Alaska, requiring these firms to pay full royalties on their production. The bill also mandates that the Department of Interior establish standardized transportation cost deductions for calculating royalties on federal lands and offshore waters, capping these deductions at either 30 percent of the total value of production or actual reasonable costs, whichever is lower. Additionally, the legislation requires the Bureau of Land Management and the Bureau of Ocean Energy Management to submit annual reports to Congress detailing the number of royalty relief applications processed, approved wells, and estimated impacts on government revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill eliminates royalty relief for oil companies, requiring full payments to the government, which directly increases state/federal tax revenue and fiscal resources.95% confidence

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in committee · United States · Senate Jul 30, 2026

S 5204: SMART Savings Act of 2026

The SMART Savings Act of 2026 modifies federal tax rules to allow individuals to use certain retirement accounts for specific transactions without triggering penalties. It achieves this by updating the definition of a "plan" and removing specific prohibited transaction categories that previously restricted how these funds could be used. Additionally, the bill clarifies rules regarding self-dealing and defines "relationship benefits" to include reduced costs or improved services tied to account value. These changes apply to transactions occurring after the law is enacted, aiming to simplify how people manage their retirement savings while maintaining core protections against abuse.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill modifies tax rules to allow penalty-free retirement withdrawals for specific transactions, providing tax relief and flexibility to individuals.75% confidence

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in committee · United States · Senate Jul 23, 2026

S 5111: Strengthening EFIN Confirmation for User Reliability and Electronic (SECURE) Tax Filing Act

The SECURE Tax Filing Act requires the Treasury Department to validate electronic filing identification numbers before they are used to submit tax returns. This validation system will confirm that an ID is active and that the person using it is authorized to file on behalf of taxpayers. The law mandates that tax preparation software must check this status in real-time before allowing any electronic filing to occur. Additionally, the Treasury must create an implementation plan within 180 days and submit regular reports on the system's performance and security. These changes directly affect tax professionals, software developers, and taxpayers who rely on electronic filing services.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill strengthens tax filing security and promotes fiscal responsibility by preventing unauthorized filings.85% confidence ✓ TechnologySupports TechnologyBill enhances cybersecurity and protects taxpayer data by mandating real-time validation of electronic filing IDs.85% confidence

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in committee · United States · House Jul 23, 2026

HR 9938: SCREEN Act

The SCREEN Act creates a new tax credit to help owners of movie theaters in the United States pay for renovations and upgrades to their facilities. This credit covers 30% of the costs spent on eligible equipment and property used to show films, provided the theater has been in operation for at least five years. The amount of the credit is limited based on the number of screens a theater has, ranging from $250,000 for small theaters with fewer than four screens up to $500,000 for larger venues with ten or more screens. Businesses can use this credit to lower their overall tax bill, and the provision is available for expenses incurred after the law is passed until the end of 2030.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a tax credit for movie theater renovations, providing fiscal relief and funding support to the entertainment industry.85% confidence

Sub-Topics Tax Credits

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in committee · United States · Senate Jul 23, 2026

S 5098: Enhancing K–12 Cybersecurity Act

The Enhancing K-12 Cybersecurity Act creates a new public website and database to help schools and school districts find cybersecurity tools, training, and federal funding opportunities. It also establishes a voluntary registry where schools can report cyber incidents to help identify trends and improve national monitoring. Additionally, the bill authorizes a program to deploy specific cybersecurity strategies and services to protect school systems from threats like ransomware. The Director of the Cybersecurity and Infrastructure Security Agency is tasked with running these initiatives in partnership with various government agencies and school leaders. Congress has authorized $10 million for each of fiscal years 2027 and 2028 to fund these efforts.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes a program to deploy cybersecurity strategies and services, implying the allocation of federal funding to protect school systems.75% confidence ✓ EducationSupports EducationBill strengthens K-12 infrastructure by providing cybersecurity tools, training, and funding to protect schools from threats.90% confidence ✓ TechnologySupports TechnologyBill creates resources, funding, and strategies to enhance cybersecurity for K-12 schools, directly protecting technology infrastructure.95% confidence

Sub-Topics School Safety Cybersecurity

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in committee · United States · Senate Jul 15, 2026

S 4994: ONSHORE Manufacturing Act

The ONSHORE Manufacturing Act creates three new tax credits to financially encourage the domestic production of essential medical supplies and equipment. The first credit provides a percentage of a company's taxable income based on wages paid to workers manufacturing specific drugs, devices, and ingredients listed as critical for national security or defense. The second and third credits offer tax breaks for businesses that purchase and install advanced machinery or environmental compliance equipment used to produce these same medical products within the United States. These incentives are designed to support companies that manufacture specified medical goods in whole or significant part domestically, with the benefits applying to taxable years beginning after December 31, 2026. Additionally, the bill requires several federal agencies to submit annual reports to Congress starting in 2027 to track how these credits affect supply chain resiliency and adherence to domestic procurement laws.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates new tax credits to encourage domestic manufacturing of essential medical supplies.90% confidence ✓ HealthcareSupports HealthcareBill provides tax credits to encourage domestic production of essential medical supplies and equipment, strengthening healthcare infrastructure.85% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides tax credits based on wages paid to manufacturing workers, directly incentivizing higher compensation and employment.85% confidence

Sub-Topics Procurement

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introduced · United States · Senate Jul 14, 2026

S 4952: Protecting American Taxpayers Act

The Protecting American Taxpayers Act is a comprehensive bill designed to combat government fraud, recover misused funds, and strengthen oversight across various federal programs. It directly affects federal agencies, state governments administering public assistance, small businesses, veterans, and contractors by imposing new reporting requirements, extending statutes of limitations for fraud cases, and restricting financial assistance to entities linked to foreign agents or the Taliban. Key mechanisms include requiring child care payments to be based on recorded attendance rather than enrollment, mandating investigations into sudden spikes in health care spending, prohibiting small businesses with convicted fraudsters from receiving loans, and creating a new officer within the Department of Veterans Affairs dedicated to scam prevention. Additionally, the legislation rescinds unspent pandemic-era funds for deficit reduction, expands whistleblower protections for defense and non-defense contractors, and establishes stricter rules against transferring public assistance money abroad via remittance transfers.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill aims to combat fraud and recover misused funds, promoting fiscal responsibility and protecting taxpayer money.85% confidence

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in committee · United States · House Jul 22, 2026

HR 9720: D.C. Taxing Authority Review Act

This bill, known as the D.C. Taxing Authority Review Act, modifies the rules for how new taxes and fees proposed by the District of Columbia government are reviewed by Congress. It requires that any D.C. law imposing or increasing a tax or fee must receive explicit approval from a joint resolution passed by both the House of Representatives and the Senate within 60 days, or else the law will not take effect. Additionally, the bill limits the time for debating these specific approval resolutions to one hour, split evenly between supporters and opponents. These changes directly affect the District of Columbia government's ability to enact new financial measures without prior congressional consent.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill restricts D.C. taxing authority by requiring Congressional approval for new taxes, limiting local fiscal autonomy.90% confidence

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in committee · United States · House Jun 30, 2026

HR 9537: Boat Loan Interest Deduction Act of 2026

The Boat Loan Interest Deduction Act of 2026 expands the tax deduction for interest paid on consumer loans to include recreational motorboats, alongside existing vehicles like cars and trucks. This change allows taxpayers who take out loans for boats assembled in the United States to deduct the interest they pay on their federal income tax returns, provided the boat is used primarily for recreation. The law applies to debts incurred after December 31, 2025, and requires taxpayers to report the boat's hull identification number on their tax filings.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill expands tax deductions for boat loan interest, providing tax relief to taxpayers and aligning with fiscal management by allowing deductions for recreational assets.85% confidence

Sub-Topics Income Tax

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in committee · United States · House Jun 24, 2026

HR 9452: Budgeting for a Better America Act

This bill, the Budgeting for a Better America Act, fundamentally changes how the federal government plans its spending by shifting the congressional budget process from an annual cycle to a biennial one, covering two consecutive fiscal years. It establishes a new National Commission on Fiscal Responsibility and Reform composed of 18 members from both political parties to propose specific policies that would reduce the federal deficit to 3% of the gross domestic product within a decade. The legislation also mandates that any joint resolution implementing the commission's recommendations be given expedited floor consideration in both the House and Senate without the possibility of amendment. Additionally, the bill requires the President to submit supplemental budget estimates annually, mandates a hearing on the nation's fiscal state, and ensures new members of Congress receive budgetary training before taking their seats.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill promotes fiscal responsibility and deficit reduction, aligning with support for prudent budget management.85% confidence

Sub-Topics State Budget

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