Budget & Taxes

in committee · United States · Senate Feb 24, 2025

S 695: Small Business Investment Act of 2025

The Small Business Investment Act of 2025 modifies tax rules to make gains from selling qualified small business stock (QSBS) more favorable for investors. It shortens the required holding period from five years to three years, with a phased exclusion: 50% of gains excluded after three years, 75% after four, and 100% after five years or more. The bill also allows investors to count the time they held convertible debt instruments toward the holding period for the stock they convert into, and removes the prior requirement that businesses must be C corporations, expanding the exclusion to include S corporations. These changes directly affect small business investors by altering the tax benefits available when selling qualifying stock.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides tax exclusions for investors, creating a tax break primarily for wealthy individuals by shortening holding periods for QSBS gains.85% confidence

Tags Small Business

Track

in committee · United States · Senate Jan 16, 2025

S 143: Natural Gas Tax Repeal Act

This bill repeals Section 136 of the Clean Air Act, which established an incentive program for reducing methane emissions and waste in natural gas and petroleum systems. It directly affects natural gas and petroleum companies that previously participated in this program by eliminating their eligibility for related incentives. The bill also rescinds any unobligated funds allocated under that program before its repeal. This is a direct policy change removing a specific federal incentive mechanism, not a tax change.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals tax incentive program for methane emissions, rescinding allocated funds, directly defunding the program.95% confidence ✗ EnergyOpposes EnergyRepeals methane emission incentive program under Clean Air Act, removing financial support for reducing emissions in natural gas systems, directly weakening clean energy standards.95% confidence ✗ EnvironmentOpposes EnvironmentRepeals methane emission incentive program, removing financial motivation for companies to reduce pollution under Clean Air Act.95% confidence

Sub-Topics Oil & Gas Pipeline Infrastructure Air Quality

Track

passed · United States · Senate Mar 16, 2026

S 327: HONOR Act

This bill, the HONOR Act (S 327), denies U.S. taxpayers a foreign tax credit for taxes paid to the Russian Federation during a specific period. It amends the tax code to block the credit for Russian taxes paid from 30 days after the bill's enactment until normal U.S. trade relations with Russia resume. The key provision directly affects U.S. individuals and businesses that pay taxes to Russia, preventing them from reducing their U.S. tax liability with those Russian payments. The rule takes effect 30 days after enactment, with a 90-day delay for the deduction limitation. The bill explicitly states it applies without regard to U.S. trade treaties with Russia.

Topics ✗ Budget & TaxesOpposes Budget & TaxesDenies foreign tax credit for Russian taxes, increasing U.S. tax liability for affected taxpayers by restricting tax benefits, directly opposing tax relief.95% confidence

Sub-Topics Tax Credits

Track

in committee · United States · Senate Mar 4, 2025

S 838: ACRE Act of 2025

The ACRE Act of 2025 excludes interest income from certain rural and agricultural loans from taxable income for specific lenders. It directly affects qualified lenders (like banks, farm credit institutions, and insurance companies) and borrowers securing loans for rural property, including single-family homes in rural areas or agricultural land. Key provisions allow lenders to not count interest on qualifying loans as taxable income, provided the loans are secured by eligible rural/agricultural property, don’t exceed $750,000 for single-family homes, and avoid "foreign adversary entities" (like China, Russia, or Iran). The bill also requires a Treasury report on the policy’s impact after five years.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExcludes interest income from taxable income for lenders, creating a tax break that reduces government revenue, aligning with 'creates tax breaks' indicator.90% confidence

Tags Agriculture Rural Communities

Track

in committee · United States · House Jan 15, 2026

HR 7087: Grave Injustice Parity Act

HR 7087, the "Grave Injustice Parity Act," expands tax deductions for estates and gifts transferred to qualifying non-profit cemetery entities. It allows deductions for transfers to cemetery companies owned exclusively for members or non-profit burial corporations that operate solely for burial purposes, have no private profit motive, and direct all earnings toward cemetery operations (not private shareholders). This applies to both estate tax (Section 2055) and gift tax (Sections 2522) deductions, as well as private foundation distributions (Sections 4942/4945). The bill directly affects donors and estates/gifts made to such cemetery organizations, with changes effective after enactment.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExpands tax deductions for estates/gifts to non-profits, reducing government revenue and creating a tax break for wealthy estates.95% confidence

Track

in committee · United States · House Feb 27, 2025

HR 1754: FARM Act of 2025

HR 1754, the FARM Act of 2025, blocks tax credits for renewable energy projects on agricultural land. It amends the tax code to deny credits under Sections 48 (solar) and 45 (wind) for public utilities installing solar or wind facilities on agricultural land as defined by existing law (Food Security Act of 1985). The bill directly affects public utilities seeking tax incentives for new renewable energy installations on farmland. The provisions apply to property placed in service after the bill's enactment date. This is a tax code change, not a new program, and does not impact individual farmers or non-public utility projects.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill blocks tax credits for renewable energy on agricultural land, removing tax incentives. This restricts tax benefits, aligning with 'oppose' stance for Budget & Taxes.95% confidence ✗ EnergyOpposes EnergyBlocks tax credits for solar/wind on agricultural land under Sections 48 and 45, directly restricting renewable energy development incentives.95% confidence ✗ EnvironmentOpposes EnvironmentBlocks tax credits for solar/wind on farmland, directly hindering renewable energy expansion and environmental protection efforts per bill summary.95% confidence

Sub-Topics Renewable Energy Solar Tags Agriculture

Track

in committee · United States · House Jan 13, 2025

HR 374: DIRECT Act

HR 374, the DIRECT Act, redirects unused funds originally allocated to the IRS for enforcement under the Inflation Reduction Act toward border security. It rescinds unobligated IRS enforcement funds and appropriates the exact same amount to U.S. Customs and Border Protection (CBP) for hiring new border agents. This bill directly affects the IRS by reducing its enforcement budget and CBP by increasing its funding for border personnel. The key mechanism is a simple transfer of existing, unspent funds without creating new spending. The bill makes no changes to tax law or policy, only reallocating previously authorized resources.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRedirects IRS enforcement funds to border security, defunding tax enforcement component of budget90% confidence ✗ ImmigrationOpposes ImmigrationRedirects IRS enforcement funds to CBP border agents, increasing border enforcement funding, aligning with restrictive immigration policies.90% confidence

Sub-Topics Appropriations Border Security

Track

in committee · United States · Senate Dec 11, 2025

S 3462: Safeguarding American Families and Expanding Social Security Act of 2025

This bill modifies Social Security taxation and benefit calculations for high earners. It gradually reduces the percentage of wages above the Social Security tax cap that are subject to Social Security tax, from 80% in 2026 down to 0% by 2030. It increases the percentage used for the lowest earnings in benefit calculations from 90% to 95% and introduces "surplus earnings" into benefit determinations. The bill also changes cost-of-living adjustments to use a new Consumer Price Index specifically for elderly consumers. These changes would primarily affect high-earning workers and Social Security beneficiaries, particularly those becoming eligible for benefits after 2026.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces Social Security tax on high earners' income above cap, creating tax break for wealthy90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill increases Social Security benefits for low earners by raising benefit calculation percentage from 90% to 95%, expanding worker benefits as per topic indicators.90% confidence

Track

in committee · United States · Senate Oct 30, 2025

S 3090: No Nuclear Testing Act of 2025

S 3090, the No Nuclear Testing Act of 2025, prohibits using federal funds for any explosive nuclear weapons test that produces a yield (actual detonation). It blocks funding for fiscal year 2026 and any available pre-2026 funds, preventing agencies from conducting or preparing for such tests. The bill explicitly allows nuclear stockpile stewardship activities that comply with the existing zero-yield standard. This directly affects U.S. defense agencies and programs seeking to conduct nuclear explosive tests using federal appropriations.

Topics ✗ Budget & TaxesOpposes Budget & TaxesDefunds nuclear testing program, restricting defense spending per bill's explicit funding block for explosive tests95% confidence ✓ EnvironmentSupports EnvironmentBans nuclear testing, preventing radioactive pollution and environmental harm, directly aligns with environmental protection goals.95% confidence

Track

in committee · United States · Senate Feb 13, 2025

S 587: Death Tax Repeal Act of 2025

This bill repeals the federal estate tax and generation-skipping transfer tax for estates of people who die on or after the bill's enactment date, directly affecting heirs of large estates (typically valued over $13 million for 2025). It also modifies the gift tax by establishing a $10 million lifetime exemption (adjusted for inflation), replacing the current exemption amount. The bill sets new tax brackets for gifts exceeding this threshold and adjusts the calculation method for gift tax liability. These changes apply to gifts made or estates settled after the bill becomes law, with no impact on existing estate plans or transfers before enactment.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals estate/gift taxes on large estates ($13M+), creating tax breaks primarily for wealthy heirs. Matches 'oppose' indicator: 'creates tax breaks primarily for wealthy'.90% confidence

Track