Budget & Taxes (Business Taxes)

in committee · United States · Senate Jun 9, 2025

S 1998: Small Business Tax Fairness and Compliance Simplification Act

This bill extends a tax credit for employer social security taxes related to tips earned by employees in beauty service businesses (including barbering, nail care, esthetics, and spa treatments). It requires that tips from these services exceed 15% of the business's gross receipts to qualify for the credit. The bill also creates a "tip reporting safe harbor" for beauty service employers who implement training programs, monthly tip reporting by employees, and maintain records for four years, shielding them from IRS tip examinations unless an employee complaint arises. Additionally, it mandates that landlords renting space to two or more beauty service businesses (with $600+ in annual rent) must report rental income details to the IRS. These provisions apply to taxable years beginning after 2024 or 2025, depending on the section.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends tax credit for beauty service businesses, reducing tax burden and simplifying compliance through tip reporting requirements.90% confidence

Sub-Topics Business Taxes Tax Credits Tags Small Business

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in committee · United States · House Aug 8, 2025

HR 4933: Research and Development Tax Credit Expansion Act of 2025

HR 4933, the Research and Development Tax Credit Expansion Act of 2025, expands tax benefits for small businesses conducting research. It increases the refundable R&D credit rate to 20% (from 14%) for qualified small businesses, adjusts credit amounts for inflation annually, and allows the credit to be refunded against unemployment taxes instead of just income taxes. The bill broadens eligibility by raising the gross receipts threshold from $5 million to $10 million for "qualified small businesses" and modifies rules for calculating credits in early years of research activity. These changes apply to taxable years beginning after December 31, 2025, directly affecting qualifying small businesses with under $25 million in annual revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands refundable R&D tax credit for small businesses, increasing rate to 20% and broadening eligibility, directly providing tax relief and incentivizing business investment.95% confidence ✓ TechnologySupports TechnologyExpands R&D tax credits for small businesses, directly funding technology innovation and development through increased refundable credits and broader eligibility.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Tags Small Business

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in committee · United States · Senate Sep 16, 2025

S 2818: Tax Excessive CEO Pay Act of 2025

S 2818, the Tax Excessive CEO Pay Act of 2025, imposes a corporate tax penalty on large U.S. corporations with a CEO-to-worker pay ratio exceeding 50:1. The penalty increases the standard 21% corporate tax rate by 0.5% to 5% based on how high the ratio climbs (e.g., 0.5% for 50-100:1, up to 5% for ratios over 500:1). It directly affects corporations with average annual gross receipts over $100 million, requiring them to calculate a 5-year average pay ratio using SEC-mandated methodology. Smaller companies with under $100 million in average revenue are exempt from reporting requirements. The law takes effect for taxable years beginning after December 31, 2025, with regulations to prevent avoidance tactics like shifting to contractor labor.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes corporate tax penalties (0.5%-5%) on firms with CEO-worker pay ratios >50:1, closing a tax loophole for excessive executive compensation.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentTargets excessive CEO pay relative to workers (ratios >50:1) with tax penalties, aiming to reduce income inequality and protect workers' pay relative to executives, thus supporting labor and employment rights.95% confidence

Sub-Topics Business Taxes Labor Standards

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in committee · United States · House Jan 15, 2025

HR 463: Lower Your Taxes Act

The Lower Your Taxes Act expands tax credits for low and middle-income households, primarily affecting workers and families with children. It significantly increases the Earned Income Tax Credit, raising the maximum credit percentage from 34% to 68% and increasing the earned income threshold from $6,330 to $19,000. The bill also establishes a new refundable child tax credit with monthly advance payments of $300 for children under 6 and $350 for children 6-17, with income limits. For high-income earners, it changes capital gains tax rates, and for corporations, it increases tax rates from 21% to 28%.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax credits for low/middle-income households, increasing EITC and adding child tax credits - direct tax relief supporting fiscal relief for families.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncreases EITC max credit (34%→68%) and establishes child tax credits, directly expanding financial benefits for low/middle-income workers and families.95% confidence

Sub-Topics Business Taxes Income Tax Tax Credits

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in committee · United States · House Feb 12, 2026

HR 7561: Local Infrastructure Tax Cuts Act

HR 7561 modifies the federal tax code to change how state and local tax (SALT) deductions work. It eliminates the $10,000 SALT deduction limit for most taxpayers above specific income thresholds ($215,000 for joint filers, $161,250 for heads of household, and $107,500 for others), reducing the deduction to $0 for those exceeding these amounts. The bill also creates a new deduction for "qualified special assessment taxes" paid on a taxpayer's principal residence to fund specific local infrastructure projects like roads, schools, or utility systems within designated districts. These changes apply to tax years beginning after December 31, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill eliminates SALT deduction for high earners, closing tax benefit for wealthy, aligning with 'closes tax loopholes' indicator.90% confidence ✓ TransportationSupports TransportationBill creates new tax deduction for 'qualified special assessment taxes' funding local infrastructure, directly supporting transportation infrastructure projects through tax incentives.85% confidence

Sub-Topics Business Taxes Transportation Funding

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in committee · United States · Senate Dec 11, 2025

S 3459: Support Small Business Growth Act of 2025

This bill creates a new payroll tax deduction for qualifying small businesses, allowing them to deduct 12% of wages paid to designated low-wage employees. It directly affects small businesses meeting specific criteria: those with no more than 15 full-time employees, meeting gross receipts limits, and certifying compliance. The deduction applies only to the lowest-wage full-time employees (excluding high earners), with the number of eligible employees decreasing annually (starting at 10 in 2026 and ending at 4 in 2033). The provision expires after 2033 and applies to taxable years beginning after December 31, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates payroll tax deduction for small businesses, reducing tax burden on qualifying entities and low-wage employees, aligning with tax relief indicators.95% confidence

Sub-Topics Business Taxes Tags Small Business

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in committee · United States · Senate Dec 17, 2025

S 3534: A bill to amend the Internal Revenue Code of 1986 to provide a credit for increasing wages paid to child care providers.

This bill creates a new tax credit for employers who pay qualified wages to child care workers. Employers at eligible child care facilities (providing care for at least 6 children, charging fees, and meeting state regulations) can claim a 5% credit on those wages, increasing to 7% for facilities in rural areas. The credit applies to wage increases and is treated as part of the general business tax credit. It directly affects child care employers by reducing their federal tax liability for raising wages at qualifying facilities.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides 5-7% tax credit to child care employers for wage increases, reducing federal tax liability and incentivizing wage growth in essential childcare sector.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides tax credit for wage increases to child care workers, directly advancing worker compensation through financial incentives for employers.95% confidence

Sub-Topics Business Taxes Tax Credits Child Labor

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in committee · United States · House Feb 27, 2025

HR 1753: Community News and Small Business Support Act

HR 1753 creates two new tax credits to support local journalism and small businesses. It offers a 80% credit (up to $5,000) for eligible small businesses (with <50 full-time employees) that advertise in qualifying local media like community newspapers or FCC-licensed radio/TV stations, reducing to 50% ($2,500 max) after the first year. A separate credit provides 50% (then 30%) of wages paid to local news journalists (at least 200 hours quarterly) for employers whose primary income comes from local newspaper publishing, capped at $12,500 per journalist per quarter. Both credits expire after 5 years and require strict definitions of "local" media to qualify, including having in-community journalists and limiting corporate ownership. The bill directly affects small local news publishers and qualifying small businesses seeking tax relief for local advertising and journalism staffing.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credits reducing taxes for small businesses (<50 employees) and local news journalists, providing direct tax relief aligned with supporting middle-income sectors and essential public services.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides wage tax credit (50%/30%) for local news journalists' compensation, directly advancing worker pay in the journalism sector.95% confidence

Sub-Topics Business Taxes Tax Credits Paid Leave Tags Small Business

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in committee · United States · House Feb 18, 2025

HR 1426: To amend the Internal Revenue Code of 1986 to increase the amount allowed as a credit under the expenses for household and dependent care services credit and the employer-provided child care credit.

HR 1426 increases two federal tax credits to help families with childcare costs. It raises the household care credit from $3,000 to $6,000 per child (and $6,000 to $12,000 for two or more children) and the employer-provided childcare credit from $150,000 to $400,000. These changes directly benefit working parents who pay for childcare and employers who offer on-site childcare programs. The increased credits apply to taxable years starting after the bill’s enactment. This is a concrete policy change that lowers tax burdens for eligible households and businesses.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credits for childcare expenses, providing direct tax relief to working families and employers, aligning with middle-income tax relief indicators.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncreases childcare tax credits, reducing financial barriers for working parents and supporting labor force participation and employment stability.90% confidence

Sub-Topics Business Taxes Tax Credits Paid Leave

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in committee · United States · House May 1, 2025

HR 3140: Stop Subsidizing Multimillion Dollar Corporate Bonuses Act

This bill amends the tax code to limit corporate tax deductions for certain executive compensation. It expands the definition of "covered individual" to include former top executives (like former CEOs or CFOs) who received high pay before 2021, as well as current executives whose compensation was reported to shareholders. The key change prevents companies from deducting excessive pay packages - such as multimillion-dollar bonuses - from taxable income for these covered individuals. The policy applies to publicly traded corporations and takes effect for tax years starting in 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesCloses corporate tax loopholes by restricting deductions for excessive executive bonuses, promoting fiscal responsibility and closing revenue gaps.95% confidence

Sub-Topics Business Taxes

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