The Geothermal Tax Parity Act (HR 6873) updates U.S. tax code to treat geothermal energy projects the same as oil and gas projects for tax purposes. It allows geothermal developers to deduct exploration and development costs (amortization) and removes restrictions on passive loss deductions that previously limited geothermal investments. This directly affects geothermal energy companies, investors, and developers by providing tax parity with the oil and gas industry. The changes apply to taxable years beginning after the bill’s enactment date. The bill makes no new funding commitments but adjusts existing tax rules to support geothermal development.
S 515 would repeal the Impoundment Control Act of 1974, a federal law that restricted the president's ability to withhold funds Congress had appropriated. This bill directly affects the executive branch (the president) and Congress by removing requirements for the president to seek congressional approval before deferring or reducing spending on specific programs. The key mechanism is the complete removal of the legal framework established by the 1974 Act, which previously mandated that the president notify Congress and obtain its consent to withhold funds. This change would allow the president greater unilateral authority over budget execution without congressional approval for deferrals.
This bill repeals the federal tax credit for purchasing new electric vehicles by removing Section 30D from the Internal Revenue Code. It directly affects individuals who would have claimed this credit when buying a new EV, eliminating the $7,500 tax benefit for qualifying vehicles placed in service after the law's enactment. Key provisions include deleting references to the credit throughout tax code sections and making conforming amendments to other provisions. The change takes effect for vehicles purchased after the bill becomes law, ending the federal subsidy for new EV buyers.
Topics
✗ Budget & TaxesOpposes Budget & TaxesRepeals federal EV tax credit, eliminating $7,500 tax benefit for buyers, directly reducing tax relief for individuals.95% confidence
✗ EnergyOpposes EnergyBill repeals $7,500 federal EV tax credit, directly weakening consumer incentives for electric vehicles and hindering renewable energy adoption in transportation.95% confidence
✗ EnvironmentOpposes EnvironmentRemoves $7,500 federal tax credit for EVs, reducing incentives that promote clean transportation and lower emissions, directly weakening environmental progress.95% confidence
✗ TransportationOpposes TransportationEliminates $7,500 EV tax credit, defunding sustainable transportation incentive and restricting EV adoption support.90% confidence
This bill prohibits the Federal Emergency Management Agency (FEMA) from funding sheltering or facility improvements for U.S. Customs and Border Protection (CBP) short-term holding facilities. It also cancels unobligated funds previously allocated to FEMA for these purposes under two 2023-2024 appropriations acts. The bill directly affects FEMA's budget authority and CBP's operational funding for facilities holding individuals in immigration custody. It does not create new restrictions but terminates existing funding for specific CBP-related sheltering activities. The measure focuses solely on rescinding existing appropriations, not on altering immigration law or eligibility.
This bill prohibits federal funds from covering gender transition procedures in any federal health program, including Medicaid, military health care, and federal employee benefits. It broadly defines "gender transition procedures" to include hormone treatments, surgeries (like hysterectomies or breast implants), and cosmetic procedures, while excluding treatment for disorders of sex development, medical emergencies, or precocious puberty. The bill also modifies the Affordable Care Act to block federal premium tax credits and cost-sharing subsidies for health plans covering these procedures, though it allows states or individuals to pay for separate coverage using non-federal funds. It directly affects federal health programs, Medicaid, and ACA marketplace plans by restricting federal funding for gender transition care.
This bill amends the Internal Revenue Code to treat income from precious metals the same as income from foreign currencies for regulated investment companies (RICs), such as mutual funds. Specifically, it adds "precious metals" to the list of assets exempt from certain tax rules under Section 851(b)(2)(A). This change directly affects RICs that hold precious metals (like gold or silver) as part of their investment portfolios, aligning their tax treatment with that of foreign currency holdings. The policy shift removes a prior distinction in how RICs are taxed on income generated from these assets. The amendment applies to taxable years beginning after the bill's enactment date.
S 707, the "No Bailout for Sanctuary Cities Act," defines "sanctuary jurisdictions" as states or localities that restrict sharing immigration status information with federal authorities or refuse to comply with federal detainer requests (except for crime victims/witnesses). The bill prohibits such jurisdictions from receiving federal funds intended to provide services like food, shelter, healthcare, legal aid, or transportation to undocumented immigrants, starting 60 days after enactment or the next fiscal year. It requires the Secretary of Homeland Security to annually report to Congress on jurisdictions failing to comply with federal immigration requests. This bill directly affects state and local governments with specific immigration policies, withholding targeted federal funding as a consequence.
The ELITE Vehicles Act repeals three key tax credits for electric vehicles under the Internal Revenue Code: the clean vehicle credit (Section 30D), the credit for previously-owned clean vehicles (Section 25E), and the credit for qualified commercial clean vehicles (Section 45W). It also excludes electric vehicle recharging property from the alternative fuel vehicle refueling credit. These changes directly affect individuals and businesses purchasing new or used electric vehicles, as well as those installing EV charging infrastructure, by eliminating the associated tax benefits. The repeal applies to vehicles purchased or under binding contract after 30 days following the bill's enactment.
S 518, the Defund Government-Sponsored Propaganda Act, would end all federal funding for the Public Broadcasting Service (PBS) and National Public Radio (NPR) after enactment. The bill prohibits direct or indirect use of federal funds to support these organizations, including through public broadcast stations using federal money. It also requires the Corporation for Public Broadcasting to transfer funds that would have gone to PBS/NPR to a public debt reduction account for fiscal years 2025-2027. This bill directly affects PBS, NPR, and any successor organizations they may become. The policy change is a complete severing of federal financial support for these public broadcasting entities.
This bill prohibits federal funds from being used for abortions or health plans covering abortion. It amends the Affordable Care Act to block premium tax credits and cost-sharing reductions for health plans that include abortion coverage (except for rape/incest cases or life-threatening conditions), and requires clear disclosure of abortion coverage and related surcharges in plan materials. The law explicitly exempts abortions performed due to rape, incest, or to preserve a mother's life, and allows separate abortion coverage using non-federal funds. It applies to all federal health programs and ACA marketplace plans, effective for plan years beginning after 2025.
