Budget & Taxes (Tax Credits)

in committee · United States · Senate Jun 1, 2026

S 4647: AGE Act of 2026

The AGE Act of 2026 creates a new tax credit to help taxpayers cover the costs of caring for elderly relatives who are at least 65 years old and need assistance with daily living. This credit allows individuals to claim up to $6,000 per year for expenses such as medical care, adult day services, personal care, respite care, and home modifications, provided the care recipient is a parent, grandparent, or other household member. The amount of the credit decreases by one percentage point for every $4,000 that a taxpayer's income exceeds $120,000, and the benefit is reduced if the taxpayer already uses a dependent care assistance program. To qualify, taxpayers must report the names, addresses, and taxpayer identification numbers of both the care providers and the elderly individuals they are supporting on their tax returns.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a new tax credit for elderly care expenses, providing tax relief and funding support for families.95% confidence ✓ HealthcareSupports HealthcareThe bill provides a tax credit to cover costs for elderly care, including medical care and personal services, directly supporting healthcare access for seniors.90% confidence

Sub-Topics Tax Credits Tags Seniors

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in committee · United States · House May 29, 2026

HR 9051: Small Business Succession Planning Act

The Small Business Succession Planning Act directs the Small Business Administration to create a program and toolkit to help small business owners develop plans for transferring ownership upon retirement or death. To support this initiative, the bill requires the agency to train partners, educate business owners, and assign specific staff to provide counseling, while also allowing for workshops and reporting on progress. A key financial incentive is a new tax credit offering $250 for establishing a succession plan and another $250 for successfully completing the transfer of responsibilities, provided the business remains small. The legislation includes safeguards that require the repayment of these credits if the business is sold to a non-small entity within three years of receiving the award.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill includes a tax credit incentive for small businesses, aligning with fiscal support measures.75% confidence

Sub-Topics Tax Credits Tags Small Business

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in committee · United States · Senate Apr 30, 2026

S 4479: ACCESS Act

The ACCESS Act expands Medicaid coverage to include services in assisted living facilities for individuals who currently require nursing home-level care, provided they meet state income and resource limits. This change aims to lower costs by ensuring that the average expense for these residents does not exceed the cost of their care in a hospital or nursing facility. Additionally, the bill allows the Low-Income Housing Tax Credit to be used for projects that reduce long-term medical costs for the elderly by offering care in non-institutional settings. These provisions are scheduled to take effect on January 1, 2027, with a grace period for states needing to update their legislation to comply.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill aims to lower healthcare costs and expand Medicaid coverage, promoting fiscal responsibility by reducing long-term medical expenses.75% confidence ✓ HealthcareSupports HealthcareThe bill expands Medicaid coverage to assisted living facilities, directly increasing access to health services and reducing costs for individuals requiring long-term care.95% confidence

Sub-Topics Tax Credits Hospitals Long-Term Care Medicaid Tags Seniors

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in committee · United States · House May 13, 2026

HR 8806: Supporting Newborn Parents Act of 2026

The Supporting Newborn Parents Act of 2026 creates a new tax credit of $2,000 for each child born to a taxpayer during the tax year. To receive this credit, parents must have earned income, with the maximum amount limited to 20% of their earnings, and the benefit phases out as family income rises. The bill allows parents to request an advance payment of the credit shortly after a child's birth by providing their information when applying for a Social Security number. Additionally, the legislation requires the Treasury to establish an online portal to help parents understand how to make elections regarding advance payments and estimated income figures.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a new tax credit for newborn parents, providing direct financial relief and funding support to families.85% confidence

Sub-Topics Income Tax Tax Credits

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in committee · United States · House May 7, 2026

HR 8677: Make the American Dream Real Again Act

The Make the American Dream Real Again Act creates a new tax credit for homeowners who sell their primary residence to a first-time buyer. This provision allows the seller to claim a refundable credit equal to the lower of the money they spent helping the buyer purchase the home or the amount of tax they would save by excluding the sale gain from their income. The bill defines a first-time homebuyer as someone who has not owned a principal residence in the two years prior to the transaction and covers expenses such as down payments, inspections, and closing costs. These changes are scheduled to take effect for taxable years beginning after December 31, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a refundable tax credit for homeowners, providing direct tax relief and financial assistance.90% confidence ✓ HousingSupports HousingBill creates a tax credit to encourage homeowners selling to first-time buyers, directly supporting affordable housing and home ownership.85% confidence

Sub-Topics Tax Credits Affordable Housing Homeownership Property Taxes

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in committee · United States · House Apr 30, 2026

HR 8626: Workforce Housing Tax Credit Act

The Workforce Housing Tax Credit Act creates a new federal tax credit to encourage the development and rehabilitation of affordable housing for middle-income families. This credit applies to buildings where at least 60% of units are rent-restricted and occupied by individuals earning 100% or less of the area median income, with at least 20% of those units specifically targeted for middle-income households. The bill establishes a 15-year credit period based on a percentage of the building's qualified basis, which is determined by factors such as the building's cost, location, and whether it is new or existing. To qualify, developers must enter into binding agreements with housing agencies that include long-term commitments to maintain affordable rents and prevent the displacement of tenants, while also adhering to specific financial feasibility and reporting requirements.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill introduces a federal tax credit to encourage affordable housing development, aligning with fiscal management goals and providing tax relief for housing initiatives.85% confidence ✓ HousingSupports HousingBill creates a federal tax credit to encourage development and rehabilitation of affordable housing for middle-income families.95% confidence

Sub-Topics Tax Credits Tax Incentives Affordable Housing Historic Preservation Housing Finance

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in committee · United States · House May 21, 2026

HR 8988: Frank Adelmann Manufactured Housing Community Sustainability Act of 2026

This bill creates a new federal tax credit to encourage owners of manufactured home communities to sell their land to residents or nonprofit organizations that agree to keep the community affordable. The credit allows sellers to claim 75% of their profit from the sale, provided the buyer agrees to a binding 50-year covenant that the land will remain used for manufactured housing. To qualify, the new owner must be a resident-owned cooperative or a nonprofit corporation with democratic governance where residents elect the board of directors. The legislation aims to prevent community closures and protect low-income homeowners from rising rents by promoting long-term resident ownership. This change takes effect for taxable years beginning after December 31, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a federal tax credit to encourage affordable housing, aligning with fiscal support for essential community programs.85% confidence ✓ HousingSupports HousingBill creates tax credits to encourage affordable housing preservation via resident-owned cooperatives and nonprofits.95% confidence

Sub-Topics Tax Credits Affordable Housing Historic Preservation Homeownership

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in committee · United States · House May 13, 2026

HR 8786: INVEST Act

The INVEST Act amends the federal tax code to expand the Work Opportunity Tax Credit for employers who hire veterans with specific renewable energy skills. To qualify for this credit, a veteran must be certified by a local agency as having military training in renewable energy fields, a recent vocational degree in the sector, or a LEED certification from the U.S. Green Building Council. The legislation defines renewable energy broadly to include sources like solar, wind, and geothermal power. Additionally, the bill addresses tax implications for U.S. territories by providing compensation for any lost tax revenue and ensuring coordination between federal and local tax credits. These provisions will take effect for employees who start working for an employer after December 31, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill expands the Work Opportunity Tax Credit to incentivize hiring veterans in renewable energy, promoting fiscal responsibility and green job creation.85% confidence ✓ EnergySupports EnergyThe bill expands tax credits for hiring veterans with renewable energy skills, directly promoting renewable energy workforce development and infrastructure.90% confidence ✓ EnvironmentSupports EnvironmentBill incentivizes hiring veterans with renewable energy skills, promoting clean energy workforce and environmental protection.75% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill expands tax credits to encourage hiring of veterans with renewable energy skills, directly supporting employment opportunities.85% confidence ✓ VeteransSupports VeteransThe bill provides tax credits to employers hiring veterans, directly supporting veteran employment and economic reintegration.90% confidence

Sub-Topics Revenue Tax Credits Renewable Energy Solar Professional Licensing Veteran Education Veteran Employment Veteran Healthcare

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in committee · United States · House Apr 30, 2026

HR 8632: PFAS Cleanup Act

This bill, known as the PFAS Cleanup Act, aims to address the health and economic costs of per- and polyfluoroalkyl substances by introducing two main financial mechanisms. First, it imposes a 45% excise tax on the sale of PFAS chemicals by manufacturers, producers, and importers starting in 2027. Second, it creates a tax credit for public water systems that spend money removing PFAS from drinking water when contamination levels exceed EPA safety limits. The revenue from the tax is intended to help fund cleanup efforts, while the credit encourages water providers to remediate hazardous pollution.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill imposes an excise tax on PFAS chemicals to fund cleanup efforts, directly addressing fiscal management and generating revenue for public health services.90% confidence ✓ EnvironmentSupports EnvironmentBill imposes taxes on PFAS chemicals and funds water system cleanup, directly addressing pollution control and environmental protection.95% confidence ✓ HealthcareSupports HealthcareBill funds PFAS water cleanup to reduce health risks from chemical contamination, protecting public health and preventing disease.85% confidence

Sub-Topics Sales Tax Tax Credits Drinking Water Hazardous Materials Water Quality

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in committee · United States · Senate May 20, 2026

S 4613: Manufactured Housing Community Sustainability Act of 2026

The Manufactured Housing Community Sustainability Act of 2026 creates a new federal tax credit to encourage the sale of manufactured home communities to residents or nonprofit organizations. This bill directly affects current owners of manufactured home parks who wish to sell their land and the buyers who want to preserve these communities as affordable housing. Under the law, a seller can claim a tax credit equal to 75 percent of their profit if they sell the property to a qualified resident-owned cooperative or nonprofit that agrees to keep the community affordable for at least 50 years. To prevent abuse, the bill includes a penalty requiring the buyer to pay 20 percent of the sale proceeds if the community is later sold for profit or fails to maintain its affordable status. The provisions take effect for sales occurring after December 31, 2026, aiming to stabilize housing costs for low-income families living in these communities.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a federal tax credit to encourage affordable housing preservation, aligning with fiscal incentives for public benefit.85% confidence ✓ HousingSupports HousingBill creates a federal tax credit to encourage the sale of manufactured home communities to residents or nonprofits, directly advancing affordable housing preservation.90% confidence

Sub-Topics Tax Credits Affordable Housing

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