Budget & Taxes (Tax Credits)

in committee · United States · House Sep 16, 2026

HR 10431: U.S. Innovation and Global Competitiveness Act of 2026

The U.S. Innovation and Global Competitiveness Act of 2026 amends federal tax laws to adjust how multinational corporations are taxed on foreign earnings, primarily by increasing the deduction rate for foreign-derived intangible income from 33.34 percent to 40 percent. The bill modifies the base erosion minimum tax by exempting certain payments made to foreign entities that face a high effective tax rate or operate in jurisdictions with discriminatory taxes, such as digital services taxes. It also eliminates specific inclusions of foreign base company sales and services income while allowing corporations to carry forward net tested losses from controlled foreign corporations for up to five years. Additionally, the legislation expands the research tax credit to all taxpayers rather than just small businesses and provides special rules for transferring intangible property from foreign subsidiaries to U.S. shareholders.

Topics ✗ Budget & TaxesOpposes Budget & TaxesThe bill increases the deduction rate for foreign-derived intangible income, which could reduce corporate tax revenue, and exempts certain payments from base erosion minimum tax, potentially weakening tax collection from multinational corporations.80% confidence

Sub-Topics Business Taxes Tax Credits

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in committee · United States · Senate Aug 6, 2026

S 5322: Federal Tax Credit Scholarship Improvement Act

The Federal Tax Credit Scholarship Improvement Act amends the Internal Revenue Code to increase the maximum tax credit available for contributions to scholarship programs from $1,000 to $1,700 per taxpayer. This change directly affects individuals and married couples filing jointly who donate to qualified scholarship organizations, allowing them to claim a larger deduction against their federal taxes. The bill also establishes an automatic annual adjustment mechanism that increases the credit limit based on inflation starting in 2026, with any adjustments rounded to the nearest $50 increment. These provisions are set to take effect for tax years beginning after December 31, 2025.

Topics ✗ Budget & TaxesOpposes Budget & TaxesIncreases tax credit limits for private scholarship donations, reducing federal tax revenue without direct public service funding.75% confidence ✓ EducationSupports EducationIncreases tax credits for scholarship donations, expanding educational access and funding opportunities for students.75% confidence

Sub-Topics Tax Credits School Choice Student Financial Aid

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in committee · United States · Senate Aug 6, 2026

S 5330: Critical Mineral and Extraction Tax Parity Act

The Critical Mineral and Extraction Tax Parity Act expands the existing advanced manufacturing production tax credit to include nine additional critical minerals - boron, copper, lead, potash, rhenium, silicon, silver, uranium, and phosphate - effective for products sold after December 31, 2025. The bill allows companies that extract ore in the United States (or specific foreign locations where the mineral is not commercially available domestically) to claim tax credits for extraction costs if the ore is subsequently refined into one of these covered minerals. Additionally, the legislation removes a previous restriction that limited the tax credit amount for metallurgical coal, ensuring it receives the same full credit rate as other eligible materials.

Topics ✗ Budget & TaxesOpposes Budget & TaxesThe bill expands tax credits for corporate extraction costs, creating a tax break that reduces government revenue without clear public benefit indicators.75% confidence

Sub-Topics Tax Credits

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in committee · United States · Senate Aug 7, 2026

S 5366: Affordable Housing Credit Carryback Act

The Affordable Housing Credit Carryback Act amends the Internal Revenue Code to allow taxpayers to claim a five-year carryback for unused low-income housing tax credits. This provision enables developers and investors who have not fully utilized their allocated credits in the current year to apply them against taxes owed in previous years. By extending this refund mechanism, the bill provides financial flexibility to entities involved in affordable housing projects, potentially accelerating the development of such units.

Topics ✗ Budget & TaxesOpposes Budget & TaxesThe bill creates a tax refund mechanism (carryback) for developers and investors, effectively reducing government tax revenue to subsidize private entities.75% confidence ✓ HousingSupports HousingThe bill facilitates affordable housing development by allowing carryback of unused low-income housing tax credits, providing financial flexibility to developers.95% confidence

Sub-Topics Tax Credits Affordable Housing Historic Preservation Housing Finance

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in committee · United States · Senate Aug 6, 2026

S 5346: EGG SAVE Act of 2026

The EGG SAVE Act of 2026 creates a new tax credit for commercial egg hatcheries that purchase and install equipment capable of identifying the sex of avian embryos before they hatch. To qualify for the credit, the technology must achieve at least 95 percent accuracy in sex determination and be used at a facility located in the United States. The credit amount is set at 50 percent of qualified expenditures for equipment placed in service in 2027, decreasing to 40 percent in 2028 and 30 percent in 2029. This incentive program terminates for any property placed in service after December 31, 2029.

Topics ✗ Budget & TaxesOpposes Budget & TaxesThe bill creates a specific tax credit for commercial egg hatcheries, representing a targeted tax break that reduces government revenue without broad public benefit.75% confidence

Sub-Topics Tax Credits

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in committee · United States · House Jul 16, 2026

HR 9764: HONOR Act

The HONOR Act prohibits U.S. taxpayers from claiming foreign tax credits for taxes paid to the Russian Federation for a specific period following the law's enactment. This restriction remains in effect until the United States resumes normal trade relations with Russia, at which point standard tariff rates will be restored. The provision explicitly overrides any conflicting international tax treaties to ensure the penalty applies regardless of existing agreements.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill restricts taxpayer ability to claim foreign tax credits, limiting tax relief and increasing effective tax burden for affected individuals.90% confidence

Sub-Topics Tax Credits

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in committee · United States · House Jun 11, 2026

HR 9289: Keep Public Funds in Public Schools Act of 2026

The Keep Public Funds in Public Schools Act of 2026 eliminates a federal tax credit that allowed parents to deduct contributions to scholarship granting organizations from their income. By removing these specific tax breaks, the bill prevents the use of public tax dollars to support private school vouchers and scholarship programs. This change directly affects families who currently rely on these tax incentives to fund education outside the public school system. The provisions take effect for taxable years beginning after December 31, 2026.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill eliminates a tax credit, restricting government spending on private school vouchers and reducing public funds allocated to education.95% confidence ✗ EducationOpposes EducationBill eliminates tax credits funding private school vouchers, restricting public funds for private education.95% confidence

Sub-Topics Tax Credits School Choice School Funding Student Financial Aid

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in committee · United States · House May 21, 2026

HR 8995: REMITTANCE Act

The REMITTANCE Act increases the excise tax on remittance transfers from 1 percent to 25 percent, with the goal of reducing the federal deficit by directing the collected funds to the Treasury's general fund. While this higher tax applies broadly, the bill creates a specific refundable tax credit for U.S. citizens who send money for business or travel purposes, allowing them to claim back the tax paid on those specific transactions. The legislation defines remittance transfers using existing standards from the Electronic Fund Transfer Act and applies these new tax rules retroactively to the date of a previous law. Ultimately, the bill aims to discourage personal money transfers while providing financial relief to individuals sending funds for work or travel.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill increases excise tax on remittance transfers, directly raising taxes on individuals sending money, which aligns with opposing indicators.95% confidence

Sub-Topics Sales Tax State Budget Tax Credits

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in committee · United States · House Mar 26, 2026

HR 8108: End Polluter Welfare for Enhanced Oil Recovery Act of 2026

This bill, titled the "End Polluter Welfare for Enhanced Oil Recovery Act of 2026," eliminates federal tax credits related to enhanced oil recovery (EOR). It directly affects oil and gas companies that utilize or plan to utilize EOR methods. Specifically, the bill strikes Section 43 of the Internal Revenue Code, thereby ending the existing Enhanced Oil Recovery Credit. Furthermore, for new facilities constructed after the bill's enactment, it removes eligibility for the carbon capture tax credit (Section 45Q) when captured carbon oxide is used for enhanced oil recovery. These changes discontinue tax incentives that support specific oil extraction techniques.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill eliminates federal tax credits for enhanced oil recovery and carbon capture, reducing government revenue incentives and limiting fiscal support for energy projects.85% confidence ✗ EnergyOpposes EnergyBill eliminates tax credits for enhanced oil recovery and carbon capture, directly restricting fossil fuel production and clean energy infrastructure development.95% confidence ✗ EnvironmentOpposes EnvironmentBill removes tax credits for enhanced oil recovery and carbon capture, weakening environmental protections and reducing incentives for clean energy technologies.92% confidence

Sub-Topics Tax Credits Oil & Gas

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in committee · United States · Senate Mar 20, 2026

S 4158: A bill to temporarily suspend the clean electricity production credit to support the Strategic Petroleum Reserve.

This bill proposes to pause the clean electricity production tax credit for two years, from October 1, 2025, through September 30, 2027. The change would affect electricity generators who currently receive tax benefits for producing clean energy during this period. Money that would have gone to the Treasury from these suspended credits would instead be transferred to the Strategic Petroleum Reserve's funding account. The legislation aims to redirect federal tax revenue to support petroleum stockpiles while temporarily reducing incentives for clean electricity production.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill suspends clean electricity tax credits, reducing funding for renewable energy programs and redirecting funds to petroleum reserves, which limits clean energy development.90% confidence ✗ EnergyOpposes EnergyBill suspends clean electricity production tax credit, directly weakening renewable energy development and limiting clean energy investment.95% confidence ✗ EnvironmentOpposes EnvironmentBill suspends clean electricity production tax credit, reducing funding for renewable energy and weakening environmental protection efforts.90% confidence ✗ TechnologyOpposes TechnologyBill suspends clean electricity production tax credits, which reduces funding for renewable energy technologies and weakens support for clean energy infrastructure.75% confidence

Sub-Topics Revenue Tax Credits Oil & Gas Renewable Energy

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