Budget & Taxes

in committee · United States · House Jan 3, 2025

HJRES 11: .Proposing a balanced budget amendment to the Constitution requiring that each agency and department's funding is justified.

HJRES 11 proposes a constitutional amendment requiring the federal government to maintain a balanced budget by ensuring annual spending does not exceed revenue, with specific spending limits tied to gross domestic product (GDP). It mandates that every federal agency and department must justify each line item in its budget request, including how funding supports its mission and its impact on GDP, and provide a reduced funding alternative for critical functions. The amendment includes exceptions for declared wars, military conflicts, or major natural disasters, requiring a two-thirds congressional vote for waivers. This would directly affect all federal agencies by imposing new budget justification requirements and spending caps, though it remains a proposed amendment awaiting state ratification.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires balanced budget with agency funding justification, promoting fiscal responsibility through GDP-linked spending limits and mission-based budget justification.95% confidence

Sub-Topics Appropriations Government Spending State Budget

Track

in committee · United States · House Jun 24, 2025

HR 4115: Saving Our MALLS Act

This bill modifies U.S. tax law to exclude certain debt forgiveness from taxable income for commercial and retail businesses. Specifically, it allows businesses to avoid paying taxes on debt discharged between December 31, 2023, and January 1, 2028, if the debt was secured by property used in their trade or business (like a storefront) and met specific timing requirements. The exclusion applies only to qualified commercial or retail indebtedness incurred before March 1, 2023, and discharged during the covered period. This directly benefits affected businesses by preserving tax credits and deductions they would otherwise lose when debt is forgiven. The policy change takes effect for debt discharges occurring on or after December 31, 2023.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax relief by excluding debt forgiveness from taxable income for commercial businesses, directly advancing tax policy for affected entities.90% confidence

Sub-Topics Tax Incentives

Track

in committee · United States · House Feb 6, 2025

HR 1067: LITTLE Act of 2025

The LITTLE Act of 2025 creates a tax credit for childcare providers and expands tax relief for families with childcare costs. It provides a 30% credit (capped at $10,000 lifetime) for childcare businesses to cover startup expenses like facility setup, if they serve at least two children and comply with state regulations. For families, it increases the dependent care credit to 50% of eligible childcare expenses (adjusted for income) up to $7,500 for one child or $15,000 for two or more children, and makes the credit refundable. These changes apply to taxable years beginning after enactment, directly affecting childcare businesses and families with young children or dependents requiring care.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits for childcare providers and increases dependent care credit for families, offering relief to middle/lower income households.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides childcare tax credits for families and providers, reducing financial barriers to employment and supporting workforce participation through expanded dependent care benefits.85% confidence

Sub-Topics Tax Credits

Track

in committee · United States · Senate May 15, 2025

S 1790: State Border Security Assistance Act

S 1790, the State Border Security Assistance Act, creates two federal funds to provide grants to states, local governments, and National Guard units for border security activities. The Department of Homeland Security fund ($11 billion) supports physical barriers (like walls or fencing), surveillance, and border preparation along the southern U.S. border. The Department of Justice fund ($3.5 billion) covers locating, apprehending, prosecuting, and detaining individuals unlawfully present or involved in crimes, including gang activity and human trafficking. Both funds are authorized for fiscal year 2025 through 2034, with unspent balances returning to the Treasury by January 2029.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates $14.5B in federal grants for border security, directly increasing government spending on a specific program per fiscal management focus.95% confidence ✗ ImmigrationOpposes ImmigrationFunds border enforcement (barriers, apprehension, detention) to restrict unauthorized presence, aligning with 'oppose' indicators for increased enforcement.95% confidence

Sub-Topics Border Security

Track

in committee · United States · Senate Sep 16, 2025

S 2824: A bill to amend the Internal Revenue Code of 1986 to extend the temporary enhanced premium credits.

This bill extends the temporary enhanced premium tax credits for health insurance under the Affordable Care Act through 2028, instead of ending in 2026. It directly affects individuals purchasing health insurance through state or federal marketplaces who qualify for these credits based on income (up to 400% of the federal poverty level). The key change updates specific dates in tax law to align the credit period with 2028, while maintaining the same income eligibility rules. The extension applies to tax years beginning after December 31, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends tax credits for lower/middle-income individuals purchasing health insurance, providing ongoing tax relief under ACA through 2028.95% confidence ✓ HealthcareSupports HealthcareExtends ACA premium tax credits through 2028, maintaining affordability for marketplace insurance buyers under 400% FPL, directly expanding healthcare access and coverage.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentExtends health insurance premium tax credits, directly expanding access to workplace-related benefits for low-to-moderate income workers under ACA marketplaces.85% confidence

Sub-Topics Procurement Tax Credits Insurance

Track

in committee · United States · Senate Jan 9, 2025

S 45: Balanced Budget Accountability Act

S 45, the Balanced Budget Accountability Act, requires Congress to pass annual budgets that balance by 2035 or face consequences for members' pay. If Congress fails to adopt a balanced budget for fiscal years 2026 or 2027 by April 16 of the prior year, members' salaries are placed in escrow until a balanced budget is certified or the current Congress ends. For fiscal years 2028 and beyond, failure to balance the budget would reduce members' pay to $1 annually. The bill also mandates a 3/5 vote (supermajority) in each chamber to pass any bill increasing revenue. This directly affects all House and Senate members by linking their compensation to budget balance outcomes.

Topics ✓ Budget & TaxesSupports Budget & TaxesPromotes fiscal responsibility by mandating balanced budgets with penalties for non-compliance, directly advancing budget accountability and fiscal management.95% confidence

Sub-Topics State Budget

Track

in committee · United States · Senate Mar 5, 2025

S 857: Water Conservation Rebate Tax Parity Act

This bill expands tax exclusions for homeowners by adding water conservation, storm water management, and wastewater management rebates to the existing tax-free treatment for energy efficiency subsidies. It directly affects residents receiving rebates from public utilities, local governments, or storm water providers for qualifying installations like low-flow fixtures, rain barrels, or septic system upgrades (with wastewater rebates limited to principal residences). Key provisions redefine "water conservation measure" and "storm water management measure" to clarify eligible upgrades and explicitly include water utilities and storm water providers under tax-exclusion rules. The changes apply to rebates received after December 31, 2021, without altering tax treatment for prior rebates.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax exclusions for water conservation rebates, providing tax relief to homeowners under Budget & Taxes policy.95% confidence ✓ EnvironmentSupports EnvironmentExpands tax incentives for water conservation installations (low-flow fixtures, rain barrels), directly promoting resource conservation and pollution prevention in residential water use.95% confidence

Sub-Topics Drinking Water Recycling Water Quality

Track

in committee · United States · Senate Jan 30, 2025

S 336: Disaster Mitigation and Tax Parity Act of 2025

This bill excludes certain state-funded payments for disaster-resistant property improvements from taxable income. Homeowners who receive payments from state programs to make upgrades (like reinforcing roofs against windstorms or elevating homes to reduce flood damage) will not have those amounts counted as taxable income. The law specifically covers payments for "qualified catastrophe mitigation payments" made to reduce damage from windstorms, earthquakes, floods, or wildfires. It applies to payments received under state-established programs, including those managed by state insurance agencies or entities ensuring property insurance markets.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes disaster mitigation payments from taxable income, providing direct tax relief for homeowners on property improvements, aligning with tax relief indicators.90% confidence ✓ EnvironmentSupports EnvironmentBill promotes disaster-resistant property improvements that reduce damage from natural disasters, indirectly supporting environmental resilience and climate adaptation efforts.75% confidence

Sub-Topics Income Tax Coastal & Flood Protection Forestry Natural Disasters

Track

in committee · United States · Senate Jan 14, 2026

S 3643: Special Inspector General for Program Fraud Act

S 3643 establishes an independent Office of the Special Inspector General (SIG) specifically to audit and investigate fraud, waste, and abuse in U.S. federal child assistance programs (such as child care and nutrition funding). The SIG, appointed by the President, has authority to conduct audits and investigations without interference from agencies like Health and Human Services or Agriculture, and must report quarterly to Congress with detailed spending data on these programs. Key provisions require the SIG to publish reports publicly, mandate transparency in major contracts involving child assistance funds, and ensure agencies provide necessary cooperation. The office is funded at $10 million annually for fiscal years 2026-2027 and terminates on September 30, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes independent oversight to audit fraud/waste in federal child assistance programs, promoting fiscal responsibility and preventing misuse of government spending funds.90% confidence

Sub-Topics Audits & Accountability

Track

in committee · United States · Senate Jun 12, 2025

S 2045: Protecting Endowments from Our Adversaries Act

This bill imposes a 50% excise tax on the fair market value of "listed investments" acquired by large private colleges and universities during a taxable year, and a 100% tax on net income from such investments. It defines "listed investments" as any stock, debt, or derivatives held in entities on government security lists (like the Commerce Department's Entity List or FCC Covered List). The tax applies to private institutions with endowments exceeding $1 billion that aren't state universities, targeting investments in entities deemed national security threats. The law requires the Treasury to establish a consolidated list of these entities within 60 days of enactment, with taxes taking effect for acquisitions and income after the first calendar year following enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes 50% excise tax on listed investments of large private colleges, generating government revenue for fiscal management under Budget & Taxes.90% confidence ✗ EducationOpposes EducationImposes 50-100% taxes on endowments of large private universities, reducing funds available for educational programs and operations.85% confidence

Sub-Topics Sales Tax Higher Education

Track