S 1043 extends the federal tax credit for qualified fuel cell property by changing the expiration date in the tax code from January 1, 2025, to January 1, 2033. This extension directly affects businesses and individuals investing in eligible fuel cell technology by allowing them to claim the credit for projects starting after December 31, 2024. The bill modifies Section 48(c)(1)(E) of the Internal Revenue Code to maintain this incentive for a longer period. It does not create new requirements but prolongs an existing tax benefit for clean energy investments.
S 1109, the Social Security Check Tax Cut Act, temporarily reduces how much of Social Security benefits counts toward taxable income for retirees and survivors. It applies to taxable years 2026 and 2027, cutting the taxable portion by 10% in 2026 and 20% in 2027 for benefits under old-age/survivors programs (Section 202 of the Social Security Act). The bill also requires funding equal to the revenue loss to be transferred to Social Security trust funds to protect their solvency. This change directly affects Social Security beneficiaries receiving retirement or survivor benefits during those years.
This bill modifies Social Security taxation and benefit calculations for high earners. It gradually reduces the percentage of wages above the Social Security tax cap that are subject to Social Security tax, from 80% in 2026 down to 0% by 2030. It increases the percentage used for the lowest earnings in benefit calculations from 90% to 95% and introduces "surplus earnings" into benefit determinations. The bill also changes cost-of-living adjustments to use a new Consumer Price Index specifically for elderly consumers. These changes would primarily affect high-earning workers and Social Security beneficiaries, particularly those becoming eligible for benefits after 2026.
Anyone But China Safe Drug Act or the ABC Safe Drug Act This bill restricts federal health care programs from purchasing drugs with active ingredients manufactured in China and provides tax incentives for the purchase of certain pharmaceutical and device manufacturing property for use in the United States. The bill phases in restrictions on federal health care programs’ purchase of drugs. By January 1, 2030, federal health care programs may not purchase any drug that contains active ingredients from China or countries that do not meet the health and safety standards of the Food and Drug Administration. The Department of Health and Human Services may issue a waiver for an agency or program that is unable to meet this requirement; this waiver authority expires in 2031. The bill also requires all drugs to be labeled with the country of origin of each active ingredient in the drug. Drugs that are not labeled with this information are deemed misbranded. Finally, the bill allows 100% tax expensing for qualified pharmaceutical and medical device manufacturing property placed in service between 2025 and 2030. Qualified pharmaceutical and medical device manufacturing property is any tangible property placed in service in the United States as part of the construction or expansion of property for the manufacture of drugs or devices.
The Neighborhood Homes Investment Act creates a new tax credit to increase affordable homeownership in distressed communities by closing financing gaps. It allows developers to claim a credit equal to the difference between development costs and affordable sale prices, capped at 40% of development costs or 32% of the national median home price. To qualify, homes must be sold to individuals with incomes at or below 140% of area median income in designated distressed census tracts, with specific requirements for rehabilitation and affordability. The credit is designed to address housing shortages in low-income areas while requiring repayment if homes are resold within five years.
This bill extends and increases federal funding for programs supporting seniors, specifically targeting low-income older adults. It allocates $15 million annually (fiscal years 2026-2030) for State Health Insurance Assistance Programs and Area Agencies on Aging, $5 million for Aging and Disability Resource Centers, and $15 million for coordinating benefits outreach. These funds directly support existing services that help seniors navigate health insurance, access benefits, and receive assistance with program enrollment. The bill makes no changes to eligibility or program structure, solely adding specified funding levels to current federal programs.
This bill adds a tax credit for homeowners who install U.S.-grown hardwood flooring, paneling, cabinetry, or window frames in their principal residence. It defines "natural carbon sink expenditures" to include these specific U.S. hardwood products, which absorb carbon dioxide. The credit applies to purchases made after the bill's enactment, extending the existing energy-efficient home improvement credit through 2035. It directly affects homeowners purchasing qualifying U.S. hardwood materials for home renovations.
S 1649, the Sporting Goods Excise Tax Modernization Act, requires certain online marketplace platforms (like Amazon or eBay) to collect and pay the federal excise tax on sporting goods sold through their platforms, rather than individual sellers. It specifically targets platforms that host third-party listings, handle payments, and facilitate the import of goods from outside the U.S. (e.g., a platform selling a foreign-made golf club). The bill treats these platforms as the "importer and seller" for tax purposes, shifting responsibility to them for collecting the tax under Section 4161 of the tax code. This change applies to sales occurring 60 days after the bill's enactment, with exceptions if tax would otherwise apply to another party. The law aims to modernize tax collection for goods sold via digital marketplaces.
This bill creates a refundable 35% tax credit for homeowners making specific accessibility modifications to their primary residence. It directly affects individuals who are blind, disabled (meeting Social Security or VA benefit criteria), or aged 60+, including their spouses or dependents living in the same home. Qualifying improvements include installing ramps, grab bars, widened doorways, accessible bathrooms, non-slip flooring, and adaptive technologies like remote health monitors. The credit is limited to $10,000 annually ($30,000 lifetime) and phases out for higher-income taxpayers (e.g., $400,000 joint filer threshold).
The Shutdown Fairness Act ensures that certain federal employees who must work during government shutdowns - such as those in national security or emergency roles, plus their supporting contractors - receive wages during funding gaps. It directs agencies to use unspent Treasury funds to pay these "excepted employees" for work performed when no appropriations are in effect, covering periods until new funding is enacted. Payments end automatically when either full-year appropriations are passed or a continuing resolution without such funding is enacted. All costs are later charged to the agency’s next regular budget, avoiding new appropriations. This directly affects federal workers designated as essential during shutdowns, not the general public.
