HR 1946, the 45Q Repeal Act of 2025, eliminates the federal tax credit for carbon capture and sequestration projects. It directly affects energy companies and industrial facilities that previously used this credit to offset costs of capturing carbon dioxide emissions. The bill removes Section 45Q from the tax code and amends related provisions to delete all references to the credit, effective for taxable years starting after December 31, 2025. This ends a financial incentive that encouraged investment in carbon capture technology.
The ELITE Vehicles Act repeals federal tax credits for purchasing new electric vehicles, used clean vehicles, and commercial clean vehicles. It also eliminates the tax credit for installing electric vehicle charging infrastructure. These changes apply to vehicles purchased or with a binding contract entered into 30 days after the bill's enactment. The bill directly affects consumers and businesses that previously used these credits to offset the cost of electric vehicles and charging stations.
HR 1857, the Capital Gains Inflation Relief Act of 2025, would reduce taxable capital gains for individuals selling certain assets held over three years by adjusting the asset's original purchase price for inflation. It directly affects individual investors who sell qualifying assets like stocks (including foreign stocks traded on major exchanges), digital assets, or tangible property after holding them for more than three years. The bill replaces the standard adjusted basis with an "indexed basis" calculated using the GDP deflator to account for inflation between purchase and sale dates. This adjustment lowers the taxable gain amount without changing tax rates, though it includes specific rules for investment funds like REITs and mutual funds, and excludes assets held for less than three years or sold between related parties. The changes would apply to assets acquired after December 31, 2025.
This bill requires the U.S. State Department to report to Congress within 90 days on all U.S. funding provided to UNRWA (the UN agency aiding Palestinian refugees) from fiscal years 2020-2024, including monthly breakdowns and how funds were spent. It then prohibits the use of federal funds - directly or indirectly - to support UNRWA starting on the bill’s enactment date. The bill directly affects UNRWA by halting U.S. financial support pending the report, without making any findings about UNRWA’s activities. The key mechanisms are the mandatory funding report and the immediate funding ban.
HR 1485, the Alien Removal Not Resort Stays Act, terminates all federal funding for FEMA's Shelter and Services Program starting upon its enactment. It redirects all unobligated funds previously allocated to this program into U.S. Immigration and Customs Enforcement (ICE) for enforcement, detention, and removal operations. The bill directly affects FEMA's disaster shelter program and shifts its budget authority to immigration enforcement activities. This represents a concrete policy change in federal funding priorities, moving resources from disaster relief to immigration enforcement.
HR 1216, the Defund Government-Sponsored Propaganda Act, prohibits federal funding for the Public Broadcasting Service (PBS) and National Public Radio (NPR) starting upon enactment, including direct support or indirect use of federal funds by public broadcast stations. The bill directly affects PBS and NPR, as well as any successor organizations, by ending their federal financial support. Key provisions require the Corporation for Public Broadcasting to transfer allocated funds to reduce the public debt for fiscal years 2025-2027, instead of funding PBS or NPR. This bill implements a concrete policy change by eliminating federal appropriations for these public media organizations.
HR 2202 prohibits federal funds from being used for gender transition procedures or health plans covering them in federal programs like Medicaid and the Affordable Care Act. It does not ban these procedures but restricts federal subsidies, requiring individuals to pay for such coverage using non-federal funds (e.g., out-of-pocket or private insurance not tied to federal programs). The bill defines gender transition procedures broadly to include hormonal treatments and surgeries (e.g., mastectomy, hysterectomy), with exceptions for medically necessary treatments related to disorders of sex development or complications from such procedures. It also clarifies that ACA premium tax credits and cost-sharing reductions cannot apply to plans covering these procedures, though separate non-federal-funded coverage remains an option.
The Race Horse Cost Recovery Act of 2025 would amend the tax code to allow owners of race horses to deduct the full cost of their horses over a three-year period for tax purposes, instead of the standard longer depreciation schedule. This change would directly affect race horse owners, breeders, and trainers in the horse racing industry by accelerating their tax deductions for horse purchases. The bill specifically adds "race horse" to the list of property eligible for this accelerated depreciation under the Internal Revenue Code. The provision applies to race horses placed in service after December 31, 2022.
The PAR Act removes restrictions that previously prevented private golf courses and country clubs from using certain tax-advantaged funds for recreational purposes. It amends a specific tax code section by deleting the phrases "private or commercial golf course, country club" wherever they appear. This change directly allows those facilities to access funds they were previously barred from using under existing tax rules. The law applies to new tax obligations after enactment, with limited transitional rules for existing programs.
This bill changes a tax rule for Real Estate Investment Trusts (REITs) that use taxable subsidiaries. It increases the percentage limit for assets held in these subsidiaries from 20% to 25% of a REIT's total assets, directly affecting REIT companies that operate through such subsidiaries. The key provision amends the Internal Revenue Code to restore this higher asset threshold, which had been reduced earlier. The change applies to taxable years starting after December 31, 2025.
