Budget & Taxes (Tax Incentives)

in committee · United States · Senate Mar 25, 2026

S 4196: Strengthen Social Security by Taxing Dynastic Wealth Act

This bill proposes to increase estate and gift taxes for individuals with significant wealth while directing the additional revenue to the Social Security Trust Fund. It raises the estate tax exemption to $3.5 million and adjusts tax rates for estates valued over $1 million, with changes taking effect after December 31, 2026. The legislation also consolidates the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund into a single Social Security Trust Fund, which would receive 100% of certain payroll and income taxes. These structural changes aim to strengthen Social Security funding through higher taxes on dynastic wealth and administrative consolidation of existing trust funds.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill increases estate and gift taxes to fund Social Security Trust Fund, directly supporting budget and tax policy for essential programs.90% confidence

Sub-Topics Tax Incentives

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in committee · United States · House Mar 27, 2026

HR 8137: To amend the Internal Revenue Code of 1986 to establish tax credits for the production of, and investment in, certain renewable materials.

This bill creates two new tax incentives to encourage the production and investment in renewable materials derived from biomass. The first provision offers a production credit of 10 cents per pound for qualified renewable materials sold or used in business, while the second provides an investment credit equal to 30 percent of qualified property costs used in renewable material facilities. Both credits are limited to facilities located in the United States or its possessions and exclude products intended for fuel, heat, electricity, food, or feed. The bill also allows these tax credits to be transferred to other taxpayers and requires the Treasury Department to issue implementing regulations within 180 days of enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes tax credits for renewable materials production and investment, promoting fiscal incentives for green energy development.90% confidence ✓ EnergySupports EnergyBill establishes tax credits for renewable materials production and investment, directly promoting renewable energy development and clean energy infrastructure.95% confidence ✓ EnvironmentSupports EnvironmentBill establishes tax credits for renewable materials production and investment, promoting clean energy and reducing reliance on fossil fuels.90% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · United States · House Mar 19, 2026

HR 7998: BRIDGE Act

The BRIDGE Act extends the work opportunity tax credit through 2030 and expands eligibility to include individuals with felony convictions or incarceration histories, as well as out-of-school youth. Employers who hire these qualified individuals after the bill's enactment can receive tax credits, with the credit amount determined under existing Internal Revenue Code provisions. The bill also requires the Treasury Secretary to issue regulations for implementation and directs the Comptroller General to study how to improve the efficiency of the credit claiming process.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill extends and expands work opportunity tax credit, providing tax relief to employers hiring individuals with felony convictions or out-of-school youth, promoting workforce development and fiscal incentives.85% confidence ✓ Criminal JusticeSupports Criminal JusticeBill extends tax credit to individuals with felony convictions, promoting reintegration and reducing recidivism through employment incentives.85% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill expands work opportunity tax credit to help employers hire individuals with felony convictions and out-of-school youth, strengthening employment opportunities and supporting workforce development.90% confidence

Sub-Topics Audits & Accountability Tax Credits Tax Incentives Corrections Workforce Development

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in committee · United States · House Jan 3, 2025

HR 173: High Rise Fire Sprinkler Incentive Act of 2025

This bill creates a tax incentive for upgrading fire sprinkler systems in existing high-rise residential buildings. It amends the tax code to treat qualifying sprinkler retrofits as 15-year property, allowing building owners to deduct costs faster through accelerated depreciation. The incentive applies only to retrofits meeting NFPA 13 standards in buildings with occupiable floors over 75 feet above fire department access, installed in residential properties placed in service before the retrofit. This directly affects owners of qualifying older high-rise buildings seeking to modernize fire safety systems.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax incentive via accelerated depreciation for sprinkler retrofits, providing tax relief to building owners95% confidence

Sub-Topics Tax Incentives

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in committee · United States · House Jan 28, 2025

HR 815: Brownfields Redevelopment Tax Incentive Reauthorization Act of 2025

HR 815 extends a tax incentive allowing businesses to deduct costs for cleaning up contaminated "brownfield" properties (like old factories or gas stations) from their taxes. It directly affects developers and property owners who remediate these sites, reducing their tax burden for cleanup work. The bill updates the tax code to let these deductions apply to costs paid or incurred between 2012-2024 and again after 2028, with the new period starting January 1, 2025. This provides continued financial support for redeveloping underutilized, polluted land.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill extends tax incentive for brownfield cleanup, directly modifying tax code to allow deductions, a fiscal policy affecting taxation.90% confidence ✓ EnvironmentSupports EnvironmentExtends tax incentives for cleaning contaminated brownfield sites, directly reducing pollution and promoting environmental remediation of hazardous properties.95% confidence

Sub-Topics Tax Incentives Hazardous Materials Tags Economic Development

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in committee · United States · House Jan 13, 2025

HR 363: Territorial Economic Recovery Act

HR 363, the Territorial Economic Recovery Act, modifies U.S. tax rules to exclude specific income from certain corporations operating in U.S. territories from "tested income" calculations under the Internal Revenue Code. It directly affects qualified corporations in Puerto Rico and the U.S. Virgin Islands that earn at least 80% of their gross income from territory sources and have 75% of that income effectively connected to territory business operations. The key provision creates a new tax exclusion for this territory-sourced income, reducing the tax burden for qualifying corporations. The changes apply to taxable years beginning after December 31, 2023. This is a targeted tax policy change for businesses in U.S. territories.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill modifies tax rules to exclude territory corporation income from tested income calculations, providing tax relief for Puerto Rico/USVI businesses.90% confidence

Sub-Topics Tax Incentives

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in committee · United States · House Feb 6, 2025

HR 1103: New Markets Tax Credit Extension Act of 2025

This bill permanently extends the New Markets Tax Credit (NMTC), a federal tax incentive that encourages private investment in low-income communities. It directly affects community development entities (CDEs) that channel capital into underserved neighborhoods for projects like housing, healthcare, and businesses. Key provisions include permanently extending the credit beyond 2025, adding annual inflation adjustments to the credit amount starting in 2026, and ensuring the credit isn't reduced by the alternative minimum tax for investments made after December 2024. The changes apply to taxable years beginning after December 2024, providing long-term stability for community development financing.

Topics ✓ Budget & TaxesSupports Budget & TaxesPermanently extends tax credit for community investment, directing capital to underserved areas via tax incentives, aligning with fiscal support for development.95% confidence ✓ HealthcareSupports HealthcareBill extends tax credit funding for projects including healthcare in underserved communities, increasing access to health services.75% confidence ✓ HousingSupports HousingBill permanently extends NMTC, a tax credit funding private investment in low-income housing projects through CDEs, directly advancing affordable housing development.92% confidence

Sub-Topics Tax Credits Tax Incentives Affordable Housing Community Development Housing Finance Tags Economic Development

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in committee · United States · House Feb 27, 2025

HR 1752: Technology for Energy Security Act

The Technology for Energy Security Act (HR 1752) extends a federal tax credit for investments in fuel cell technology. It changes the deadline for claiming this credit from January 1, 2025, to January 1, 2033, for projects starting construction after December 31, 2024. This directly affects businesses and individuals installing fuel cell systems by allowing them to claim the tax incentive for an additional eight years. The bill does not alter the credit amount but expands the timeframe for eligible projects.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends federal tax credit deadline for fuel cell investments, providing tax relief for businesses/individuals under energy sector incentives.95% confidence ✓ EnergySupports EnergyExtends tax credit for fuel cell technology, a clean energy infrastructure investment, promoting renewable energy adoption and advancing energy security goals.95% confidence ✓ EnvironmentSupports EnvironmentExtends tax credit for fuel cell technology, a clean energy source that reduces emissions. Promotes investment in low-emission infrastructure, aligning with environmental protection goals.85% confidence ✓ TechnologySupports TechnologyExtends tax credit for fuel cell technology investments, promoting adoption and development in clean energy technology.95% confidence ✓ TransportationSupports TransportationExtends tax credits for fuel cell technology, promoting sustainable vehicle energy solutions directly supporting transportation infrastructure and clean vehicle adoption.85% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · United States · House Mar 11, 2025

HR 2033: Military Spouse Hiring Act

HR 2033, the Military Spouse Hiring Act, expands the Work Opportunity Tax Credit to include spouses of active-duty military personnel. It adds "qualified military spouse" as an eligible category for the tax credit, meaning employers who hire such spouses can claim the credit. A "qualified military spouse" is defined as someone certified by a local agency as married to an active-duty service member at the time of hire. The credit applies to hires occurring after the bill's enactment date. This directly affects military spouses seeking employment and employers hiring them, providing a tax incentive to encourage their hiring.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands Work Opportunity Tax Credit to include military spouses, providing tax relief to employers through a new credit category.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentExpands Work Opportunity Tax Credit to include military spouses, incentivizing employer hiring and creating new employment opportunities for a vulnerable workforce group.95% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · United States · House Mar 18, 2025

HR 2230: Independent Programmers Tax Incentive Act

This bill creates a tax credit for cable, satellite, and internet-based video distributors (like streaming services) that carry content from independent video producers. Distributors can claim a credit equal to the lesser of their actual license fees paid for carrying independent programming or $0.10 per average monthly subscriber, with a maximum of $0.30 per subscriber. It also requires the Federal Communications Commission to submit biennial reports to Congress on how many independent programmers are being carried and for how long, to help assess the program's effectiveness. The credit applies to agreements where distributors carry independent content to at least 40% of their subscribers, targeting small, non-corporate video producers who aren't owned by major networks or distributors.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit for distributors, providing tax relief through incentives for independent programming carriers.90% confidence

Sub-Topics Tax Credits Tax Incentives

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