Budget & Taxes

in committee · United States · Senate Jun 11, 2025

S 2021: Close the Round-Tripping Loophole Act

This bill amends U.S. tax law to close a loophole allowing companies to artificially shift profits between U.S. and foreign subsidiaries to reduce taxes. It directly affects U.S. corporations with foreign subsidiaries that engage in "round-tripping" - moving profits through transactions involving U.S.-sold property or services without proper documentation of foreign use. The key mechanism creates a "round-tripping ratio" that reduces tax benefits for profits tied to these practices by calculating the percentage of income derived from such transactions relative to total foreign income. Small businesses with average annual gross receipts under $100 million are exempt from this calculation. The changes apply to tax years beginning after the bill's enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesCloses corporate tax loophole, increasing government revenue and promoting fiscal responsibility through stricter tax enforcement.95% confidence

Sub-Topics Business Taxes

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in committee · United States · Senate Jan 29, 2025

S 317: Charitable Act

This bill, S 317 (Charitable Act), creates a new federal income tax deduction for charitable contributions for individuals who do not itemize deductions (the majority of taxpayers). It allows these taxpayers to deduct up to one-third of their standard deduction amount for charitable gifts in 2026 and 2027. The bill also eliminates penalties related to charitable deduction errors under tax code sections 6662 and 6664. The changes apply to tax returns filed for 2026 and 2027 tax years.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax deduction for non-itemizing taxpayers (mostly middle/lower income), offering relief without increasing government spending.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · United States · Senate Dec 2, 2025

S 3299: DSH in Tennessee Act

S 3299, the "DSH in Tennessee Act," permanently restores federal funding for hospitals in Tennessee that serve many low-income patients, directly affecting those hospitals. For fiscal year 2026, it sets Tennessee's funding level equal to its 2015 amount, adjusted annually for inflation using the consumer price index. Starting in 2027, Tennessee will be treated as a "low DSH state," receiving annual funding increases based on the same inflation adjustment used for similar states. This bill specifically changes how Tennessee's Medicaid Disproportionate Share Hospital (DSH) funding is calculated and allocated.

Topics ✓ Budget & TaxesSupports Budget & TaxesRestores federal hospital funding for low-income patients, sets permanent inflation-adjusted budget levels for healthcare services, directly advancing public health funding within state fiscal management.90% confidence ✓ HealthcareSupports HealthcareRestores federal DSH funding for hospitals serving low-income patients, ensuring continued healthcare access for vulnerable populations.95% confidence

Sub-Topics Hospitals Medicaid

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in committee · United States · Senate Nov 20, 2025

S 3265: Improve and Enhance the Work Opportunity Tax Credit Act

This bill extends and expands the Work Opportunity Tax Credit (WOTC), which helps employers hire from targeted groups like veterans, long-term welfare recipients, and individuals in high-unemployment areas. It extends the program through 2030 (from 2025), increases the credit rate to 50% for certain new hires (up from 40%), adds automatic annual inflation adjustments to key dollar amounts, and expands eligibility to include military spouses and people receiving SNAP benefits without an age limit. Employers hiring from these groups will see higher tax credits for qualifying wages, with new rules specifically for agricultural workers, summer youth employees, and veterans. The changes apply to workers hired after December 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands Work Opportunity Tax Credit with higher rates and broader eligibility, providing tax relief to employers hiring targeted groups, directly strengthening tax incentive programs.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentExtends WOTC through 2030, increases credit rate to 50%, expands eligibility to military spouses/SNAP recipients - directly enhances employment opportunities for targeted groups95% confidence ✓ VeteransSupports VeteransBill explicitly includes veterans as a targeted group for WOTC, supporting veteran employment through tax incentives.90% confidence

Sub-Topics Tax Credits Unemployment Veteran Employment

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in committee · United States · Senate Sep 9, 2025

S 2749: A bill to exempt Medicare from any sequestration under Statutory PAYGO that is caused by the One Big Beautiful Bill Act.

S 2749 exempts Medicare programs from automatic budget cuts (sequestration) caused by the budgetary effects of the "One Big Beautiful Bill Act" (a separate bill). This means Medicare funding under the Social Security Act would not face reductions triggered by that specific legislation's spending impacts. The bill directly affects Medicare beneficiaries and programs by ensuring their funding remains protected from these automatic cuts. It achieves this through a specific exemption clause in the Statutory PAYGO Act's sequestration rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts Medicare from automatic budget cuts (sequestration), directly protecting essential program funding under fiscal management.95% confidence ✓ HealthcareSupports HealthcareExempts Medicare from sequestration, protecting existing funding from automatic cuts caused by another bill, directly safeguarding beneficiary access and program stability.95% confidence

Sub-Topics Medicare

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in committee · United States · Senate Apr 14, 2026

S 2378: SAFEGUARDS Act of 2025

The SAFEGUARDS Act of 2025 ensures that revenue from the 9/11 Security Fee (paid by airline passengers) is used exclusively for aviation security, ending its diversion to other government purposes by 2027. It creates two dedicated funds: the Aviation Security Capital Fund (receiving $250 million annually through 2025, then $500 million annually starting in 2026) for general security improvements, and the Aviation Security Checkpoint Technology Fund (receiving $250 million annually starting in 2026) specifically for security screening technology like baggage scanners and exit lanes. The bill requires the Transportation Security Administration (TSA) to collect sufficient fees to fund these amounts and allows retroactive grants for security technology projects implemented since 2023. This directly affects TSA operations, airports, and passenger fees, with no new taxes or fees imposed.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates dedicated funding for aviation security from 9/11 fees, preventing diversion and ensuring fiscal responsibility through specific budget allocation.92% confidence ✓ TechnologySupports TechnologyBill creates dedicated $250M annual fund specifically for 'Aviation Security Checkpoint Technology' improvements, directly funding technology applications in security systems.95% confidence

Sub-Topics State Budget

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in committee · United States · Senate Feb 19, 2025

S 631: Rural Historic Tax Credit Improvement Act

The Rural Historic Tax Credit Improvement Act increases tax credits for rehabilitating historic buildings in rural areas. It provides a 40% credit for affordable housing projects (where at least half the building meets affordability standards) and a 30% credit for other rural historic projects, with a $5 million cap on eligible costs. Taxpayers can transfer these credits to other taxpayers, requiring certification and reporting to the IRS. The bill also adds recapture rules for projects failing to meet affordable housing requirements and removes a basis adjustment for these credits, effective for projects placed in service after 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits (40% for affordable housing, 30% for other projects) reducing taxpayer liability, aligning with tax relief indicators under Budget & Taxes.95% confidence ✓ HousingSupports HousingProvides 40% tax credit for affordable housing projects (≥50% affordable units) in rural areas, directly funding and advancing affordable housing initiatives through tax incentives.95% confidence

Sub-Topics Tax Credits Affordable Housing Historic Preservation Housing Finance Tags Rural Communities

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in committee · United States · House Jun 30, 2025

HR 4267: Get Your Money Back Act

HR 4267, the "Get Your Money Back Act," requires the federal government to continue operating the IRS's free Direct File tax return system and mandates that all 50 states and the District of Columbia must participate in this system for tax years beginning after December 31, 2025. The bill directly affects taxpayers who use the free e-filing option and state tax authorities responsible for implementing the system. Key provisions include requiring the Treasury Secretary to maintain the existing free Direct File program and obligating states to join by 2026. This creates a nationwide, no-cost option for filing federal taxes through state tax agencies. The law focuses on expanding access to a specific tax filing mechanism, not on refund amounts or financial benefits.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates free federal tax filing system, reducing costs for taxpayers and promoting fiscal accessibility, aligning with tax relief and fiscal responsibility indicators.95% confidence

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in committee · United States · House Apr 17, 2025

HR 2927: All-Americans Tax Relief Act of 2025

The All-Americans Tax Relief Act of 2025 would significantly expand tax benefits for low-to-moderate income individuals and families. Key provisions include making the Child Tax Credit fully refundable (allowing payments even if taxpayers owe no income tax), expanding the Earned Income Tax Credit with higher maximum amounts, and creating new deductions for medical expenses, daycare, commuting, tutoring, and credit card interest. The bill would also establish a rent deduction for primary residences and exclude certain discharged debt from taxable income. These changes would apply to tax years beginning after December 31, 2026, and would primarily benefit working families with children and lower-income taxpayers.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax credits/deductions for low-to-moderate income families, directly providing relief and strengthening fiscal support for target demographic.95% confidence ✓ EducationSupports EducationBill expands tax benefits for tutoring and daycare, which supports educational access and affordability for families.75% confidence ✓ HealthcareSupports HealthcareCreates medical expense deductions, improving affordability and access to healthcare services by reducing out-of-pocket costs for patients.90% confidence ✓ HousingSupports HousingExplicit rent deduction for primary residence directly reduces housing costs for low-to-moderate income families, advancing affordability per bill's summary.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentExpands EITC with higher max amounts and makes Child Tax Credit refundable, directly increasing financial support for low-income workers and families.92% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives Renters

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in committee · United States · House Feb 21, 2025

HR 1447: No Deductions for Marijuana Businesses Act

This bill prohibits marijuana businesses from deducting ordinary business expenses on their federal tax returns. It amends federal tax law to deny deductions or credits for any costs related to selling marijuana (which remains illegal under federal law), directly affecting state-legal marijuana businesses operating under state law but subject to federal prohibition. The key provision requires these businesses to pay taxes on their full gross income without subtracting standard business costs like rent or supplies. The rule applies to tax years beginning after the bill's enactment date.

Topics ✓ Budget & TaxesSupports Budget & TaxesDenies tax deductions for marijuana businesses, closing a loophole and increasing federal tax revenue per federal tax law amendments.85% confidence

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