Budget & Taxes (Income Tax)

in committee · United States · House Jul 16, 2026

HR 9768: Tariff Refund Act of 2026

The Tariff Refund Act of 2026 directs the IRS to issue refunds or credits to eligible U.S. citizens who meet specific income and residency criteria. To qualify, an individual must have an adjusted gross income below $200,000, $300,000 for heads of household, or $400,000 for joint filers, and cannot be incarcerated or claimed as a dependent on another's tax return. The bill treats these eligible taxpayers as having already paid a fixed amount of tax toward their 2025 liability, effectively refunding that sum if they have not yet paid it. Payments will be processed electronically to existing bank accounts or Treasury-sponsored accounts, with no interest applied to the refunds. The legislation also includes provisions to prevent duplicate payments and allows dependents of incarcerated individuals to receive funds if the primary earner is ineligible.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax relief and refunds to eligible middle and lower-income taxpayers, directly advancing tax relief goals.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · United States · Senate Jul 21, 2026

S 5040: A bill to amend the Internal Revenue Code of 1986 to impose limitations on high-income taxpayers with large retirement account balances.

This bill proposes new restrictions on retirement savings for high-income individuals who already have large account balances. It would limit annual contributions to traditional retirement plans for taxpayers with modified adjusted gross income exceeding $225,000 to $450,000, depending on filing status, if their total retirement savings surpass a $10 million threshold. Additionally, the legislation would increase the minimum required distributions for these same individuals, forcing them to withdraw more money annually from their accounts starting in 2034. To facilitate these withdrawals, the bill requires retirement plans to allow employees to request specific lump-sum distributions and mandates higher tax withholding on these payments.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill imposes restrictions on high-income retirement contributions, promoting fiscal responsibility and limiting excessive tax-advantaged accumulation for the wealthy.95% confidence

Sub-Topics Income Tax

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in committee · United States · House Jul 16, 2026

HR 9750: Public Service Retirement Tax Relief Act of 2026

The Public Service Retirement Tax Relief Act of 2026 limits the federal income tax that individuals receiving state or local government pensions must pay. Starting in 2026, the total tax on these pensions cannot exceed $10,000 for single filers or $20,000 for married couples filing jointly. This cap is calculated by first determining the tax owed on all income except the pension, then adding the maximum allowable pension tax amount to that figure. The bill directly affects public servants who rely on pensions from state or local governments for their retirement income.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax relief by capping federal income tax on public service pensions, directly supporting the Budget & Taxes topic.90% confidence

Sub-Topics Income Tax Pensions

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in committee · United States · House Jul 9, 2026

HR 9626: To amend the Internal Revenue Code of 1986 to eliminate the State and local tax deduction marriage penalty.

This bill aims to remove a tax disadvantage known as the "marriage penalty" for couples filing jointly under the State and local tax deduction. It achieves this by adjusting the dollar limits and income thresholds so that married couples filing jointly receive twice the deduction amount available to single filers, while married individuals filing separately receive half. These changes are designed to ensure that married couples do not pay more in taxes solely because they are married. The provisions would take effect for tax years beginning after December 31, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill eliminates a tax disadvantage for married couples, providing tax relief and promoting fiscal fairness.95% confidence

Sub-Topics Income Tax

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in committee · United States · House Jun 30, 2026

HR 9537: Boat Loan Interest Deduction Act of 2026

The Boat Loan Interest Deduction Act of 2026 expands the tax deduction for interest paid on consumer loans to include recreational motorboats, alongside existing vehicles like cars and trucks. This change allows taxpayers who take out loans for boats assembled in the United States to deduct the interest they pay on their federal income tax returns, provided the boat is used primarily for recreation. The law applies to debts incurred after December 31, 2025, and requires taxpayers to report the boat's hull identification number on their tax filings.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill expands tax deductions for boat loan interest, providing tax relief to taxpayers and aligning with fiscal management by allowing deductions for recreational assets.85% confidence

Sub-Topics Income Tax

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in committee · United States · House Jul 14, 2026

HR 9555: Home Mortgage Interest Credit Act of 2026

This bill creates a new tax credit for homeowners who pay interest on loans used to buy, build, or improve their primary residences. The credit allows taxpayers to directly reduce their federal income tax liability by up to $2,000 annually, or $1,000 for married individuals filing separately, provided their modified adjusted gross income does not exceed specific thresholds that vary by filing status. The amount of the credit is reduced by $20 for every $1,000 that a taxpayer's income exceeds these limits, and the provision includes an automatic inflation adjustment mechanism starting in 2028. This legislation applies to taxable years beginning after December 31, 2026, and excludes nonresident aliens from claiming the benefit.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides a tax credit for homeowners, offering direct tax relief and reducing federal income tax liability for eligible taxpayers.85% confidence ✓ HousingSupports HousingBill provides tax credits to homeowners for mortgage interest, financially supporting housing ownership and development.85% confidence

Sub-Topics Income Tax Tax Credits Mortgages

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in committee · United States · Senate Jun 15, 2026

S 4780: A bill to amend the Internal Revenue Code of 1986 to exclude micro-grants for food security from gross income.

This bill proposes to change federal tax rules so that eligible organizations do not have to pay income tax on micro-grants they receive for food security. It directly affects the specific entities defined by the Agriculture Improvement Act of 2018 that distribute these funds. The key provision adds a new section to the Internal Revenue Code to explicitly exclude these financial assistance amounts from the organizations' gross income. This change would allow the organizations to retain the full value of the grants without using part of the funding to cover potential tax liabilities. The rule would apply to any grants received after the bill is enacted into law.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill excludes micro-grants for food security from gross income, providing tax relief to eligible organizations and strengthening funding for essential food security programs.90% confidence

Sub-Topics Income Tax

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in committee · United States · House Jun 24, 2026

HR 9426: Affordable Youth Enrichment Opportunities Act

The Affordable Youth Enrichment Opportunities Act creates a new tax deduction allowing individuals to claim up to $5,000 for expenses related to youth programs for dependents under age 19. These eligible programs include tutoring, academic enrichment, athletics, and the arts, covering costs such as fees, equipment, and digital platform access. The deduction is subject to income limits, phasing out for taxpayers with modified adjusted gross income exceeding $100,000 to $200,000 depending on filing status, and cannot be claimed if the dependent is already claimed by another taxpayer. The provision applies to taxable years beginning after December 31, 2026, with the dollar amounts subject to inflation adjustments after 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a new tax deduction for youth program expenses, providing tax relief and encouraging investment in essential services.90% confidence ✓ EducationSupports EducationBill provides tax deductions for youth educational expenses like tutoring and enrichment, expanding access and funding for student programs.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · United States · House May 14, 2026

HRES 1292: To acknowledge the Black Women Best framework to empower and improve life for all through guaranteed income, expanding child and income tax credit, increasing access to equitable health care and government assistance, prohibiting policing in schools, and prioritizing restorative justice.

This resolution formally acknowledges the Black Women Best framework, a policy blueprint designed to address historical economic disparities faced by Black women in the United States. It highlights specific strategies such as implementing guaranteed income, expanding tax credits, improving healthcare access, removing police from schools, and prioritizing restorative justice. The measure serves as a non-binding statement of support rather than a law that directly changes federal programs or mandates new actions. By recognizing this framework, the House encourages policymakers to use it as a guide for creating more equitable legislation that centers the lived experiences of Black women.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill explicitly supports expanding child and income tax credits and guaranteed income, which aligns with providing tax relief and funding essential social programs.85% confidence ✓ Criminal JusticeSupports Criminal JusticeBill explicitly supports restorative justice and prohibits policing in schools, key criminal justice reform measures.90% confidence ✓ EducationSupports EducationBill removes police from schools and prioritizes restorative justice, directly improving the educational environment and student safety.85% confidence ✓ HealthcareSupports HealthcareBill explicitly aims to improve healthcare access and equity through the Black Women Best framework.90% confidence

Sub-Topics Income Tax Tax Credits Policing

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in committee · United States · House Jun 11, 2026

HR 9308: Tax Relief for First Responder Beneficiaries Act

The Tax Relief for First Responder Beneficiaries Act expands tax benefits for families of public safety officers who die in the line of duty. It allows surviving beneficiaries, not just dependents, to receive certain compensation without paying federal income tax, and it extends survivor annuity benefits to children or beneficiaries of life insurance policies. These changes apply to taxable years starting after December 31, 2022, ensuring broader financial support for the families of fallen first responders.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax relief to beneficiaries of public safety officers, aligning with the indicator of providing tax relief.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill expands tax benefits and survivor annuity protections for families of public safety officers, strengthening financial support for workers' families.85% confidence

Sub-Topics Income Tax

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