UPLIFT Act

The UPLIFT Act creates a new federal tax credit for households with high residential energy costs. It allows individuals to claim up to $1,200 (or $2,400 for joint returns) annually for electricity, natural gas, or propane used in their primary U.S. home, but only when average energy prices exceed 102% of the prior year's level. The credit phases out for taxpayers earning over $75,000 (single) or $150,000 (joint), and refunds won't count as income for means-tested programs like SNAP. This directly affects renters and homeowners with qualifying energy expenses in their primary residence.