S. 925 (Credit for Caring Act of 2025) creates a 30% tax credit for eligible family caregivers incurring qualified expenses to care for a certified relative with long-term care needs. It directly affects caregivers who earn over $7,500 annually and pay expenses exceeding $2,000 per year for care recipients certified by a healthcare professional as needing at least 180 days of care during the tax year. The credit covers costs like human assistance, home modifications, transportation, and respite care, with a maximum annual credit of $5,000 (adjusted for inflation). The credit phases out for taxpayers with modified adjusted gross income above $75,000 ($150,000 for joint filers). The bill applies to taxable years beginning after December 31, 2024.
HR 6784 creates a federal tax credit allowing homeowners to claim 50% of costs for removing lead hazards in homes built before 1978, directly affecting owners of older properties. The credit covers certified lead abatement (up to $3,000 per home) or interim safety measures (up to $1,000), with a lifetime cap of $4,000 per residence. Homeowners must use certified professionals, provide documentation of completed work meeting federal standards, and cannot double-dip with state/local credits. The credit expires after December 31, 2028, and applies to costs incurred after December 31, 2024.
This bill directs the U.S. Postal Service to assign a unique ZIP code specifically for Fairlawn, Virginia - a community located in Pulaski County but not part of any city. It aims to resolve a tax misallocation issue where online sales taxes collected in Fairlawn are incorrectly sent to the nearby independent city of Radford due to shared ZIP codes. The change would ensure Fairlawn’s tax revenue stays local for community services, directly affecting residents and local government funding in Fairlawn. The USPS must complete this designation within 180 days of the bill’s enactment.
HR 7118, the Genomic Answers for Children’s Health Act of 2026, requires Medicaid to cover whole genome and whole exome sequencing for Medicaid-eligible children with specific medical needs, including genetic disorders, rare diseases, congenital anomalies, developmental delays, or intellectual disabilities. It mandates that this testing be ordered as a first-tier test by a physician and paid separately, not bundled with other services. The bill also requires the Department of Health and Human Services to convene stakeholders, conduct outreach to raise awareness, and publish a report within two years detailing state payment rates and usage data. Additionally, it directs a Comptroller General report assessing implementation barriers, workforce challenges, and payment alignment with market costs. The changes take effect January 1, 2027.
HR 7636 creates a new tax credit for individuals affected by unlawfully imposed tariffs. It allows eligible individuals (excluding non-residents, those with dependents claimed by others, and estates/trusts) to receive a refundable credit equal to their household's share of total tariff revenues repaid by the government after a court orders repayment of unlawfully collected tariffs (imposed after January 20, 2025). The credit amount is calculated by dividing total repaid tariff revenues by the number of eligible households, with household size including the individual plus dependents. The credit applies to taxable years ending before the court order date, with refunds processed rapidly and without interest. A separate provision also imposes a 100% excise tax on corporate tariff refunds not passed to consumers.
HR 7576, the AI Workforce Training Act, creates a 30% tax credit for businesses covering qualified AI training costs for their employees. It directly affects businesses that pay for employees to attend accredited AI training programs (such as courses on machine learning or AI ethics), cover wages during training, or develop in-house AI training. The credit is capped at $2,500 per employee per year, adjusted for inflation after 2026. The bill also requires federal agencies to launch a public outreach campaign promoting the credit and submit annual reports to Congress on its implementation.
The Stop Corporate Inversions Act of 2026 modifies U.S. tax rules to prevent corporations from avoiding U.S. taxes by restructuring as foreign entities. It targets foreign corporations that acquired U.S. businesses after May 8, 2014, by treating them as domestic corporations if they meet specific thresholds: either over 50% of their stock is held by former U.S. shareholders or management/control is primarily based in the U.S. with significant U.S. business activities (at least 25% of employees, compensation, assets, or income located in the U.S.). This applies to taxable years ending after May 8, 2014, and aims to ensure such corporations pay U.S. taxes on their U.S. operations.
The TRIA Program Reauthorization Act of 2026 extends the Terrorism Risk Insurance Act (TRIA) through 2034, replacing its previous 2027 expiration date. It raises the financial threshold requiring federal assistance for terrorism-related insurance losses from $5 million to $25 million per incident. The bill also mandates that the Treasury Secretary publish a Federal Register notice within 30 days of starting a terrorism certification review and requires certification to be completed within 90 days of that notice. Additionally, it updates the program's official name from "Terrorism Insurance Program" to "Terrorism Risk Insurance Program" and adjusts related expiration dates in the law.
HR 7034 would remove the current $250,000 (single filers) and $500,000 (married couples) tax exclusion limit for capital gains when selling a primary residence. This change would allow all homeowners to exclude their full profit from federal income tax upon selling their main home, regardless of the sale price. The bill amends Section 121 of the Internal Revenue Code to eliminate the dollar caps and adjusts related provisions to reflect this change. It directly affects homeowners who sell their primary residence, making the tax exclusion fully unlimited for qualifying sales after the bill's enactment.
HR 7409, the Defend Rural Health Act of 2026, prevents rural hospitals from being reclassified as urban Medicare facilities after October 1, 2029, unless they met specific criteria before October 1, 2026. The bill amends Medicare rules to block hospitals from retaining rural status beyond 2029, even if they applied for reclassification earlier. It also prohibits the Medicare Geographic Classification Review Board from approving new reclassification requests for hospitals already treated as rural under current rules for fiscal years starting after October 1, 2026. This directly affects rural hospitals that rely on higher Medicare payments tied to their geographic classification. The law aims to maintain stable funding for rural hospitals by restricting future reclassifications.
