This bill amends the tax code to expand the advanced manufacturing production credit for critical minerals. It designates copper as an "applicable critical mineral," making its production eligible for this tax credit. Additionally, the bill allows companies to include the costs of extracting ore that is subsequently refined into an applicable critical mineral when calculating the credit. These extraction costs are eligible only if the ore is from the United States, or, if foreign, is a type not commercially extracted in the U.S. and not from a "foreign country of concern." These changes primarily affect mining and manufacturing companies involved in critical mineral supply chains, applying to minerals produced or costs incurred after December 31, 2025.
The Working Parents Tax Relief Act of 2026 proposes to increase the Earned Income Tax Credit (EITC) for eligible parents of young children. It raises the EITC credit percentage for families with one child under age four and provides similar increases for families with two or more children under age four, specifically for the youngest three children. The bill also increases the rate at which the credit phases out for these families, applying to the youngest three children under age four. Additionally, it creates a mechanism for taxpayers to elect to receive their EITC refunds in equal monthly payments. These provisions would take effect for taxable years beginning after December 31, 2025.
This bill, titled the "Keep Public Funds in Public Schools Act," repeals two sections of the Internal Revenue Code. It eliminates Section 25F, which provides a tax credit for contributions made to scholarship granting organizations. Additionally, the bill repeals Section 139K, which allows certain educational assistance to be excluded from an individual's gross income. These changes primarily affect taxpayers who currently claim these credits or exclusions, and organizations involved in scholarship grants or providing educational assistance. The amendments generally take effect for taxable years ending after December 31, 2026.
This bill, the End Polluter Welfare for Enhanced Oil Recovery Act of 2026, removes tax incentives for enhanced oil recovery projects that use carbon dioxide as an injectant. It directly affects oil and gas companies and energy producers who build qualified facilities after the law is enacted. The legislation eliminates the tax credit for carbon capture and storage when the captured carbon dioxide is used to extract more oil from existing wells. Additionally, the bill repeals the federal enhanced oil recovery tax credit that previously allowed companies to deduct certain costs related to extracting additional oil from mature wells. These changes apply to taxable years beginning after the bill is enacted.
This bill, the Tribal Tax and Investment Reform Act of 2026, treats federally recognized Indian tribes and Alaska Native entities as states for specific tax purposes, allowing them to issue tax-exempt bonds and maintain employee pension plans under the same rules as state governments. It creates a new $175 million annual tax credit allocation for investments in tribal areas, expands existing employment tax credits, and clarifies how tribal general welfare benefits and trust funds are treated for federal assistance programs. The legislation also establishes uniform fiduciary standards for tribal pension plans, provides technical assistance for tribal area investments, and ensures tribal areas qualify for certain affordable housing tax incentives.
This bill creates two new tax incentives to encourage the production and investment in renewable materials derived from biomass. The first provision offers a production credit of 10 cents per pound for qualified renewable materials sold or used in business, while the second provides an investment credit equal to 30 percent of qualified property costs used in renewable material facilities. Both credits are limited to facilities located in the United States or its possessions and exclude products intended for fuel, heat, electricity, food, or feed. The bill also allows these tax credits to be transferred to other taxpayers and requires the Treasury Department to issue implementing regulations within 180 days of enactment.
This bill extends the Health Coverage Tax Credit program through January 1, 2030, allowing eligible individuals and small businesses to receive tax credits for purchasing health insurance. The program directly affects people who buy health insurance outside of government marketplaces and small businesses that provide coverage to their employees. Under this legislation, qualified taxpayers can claim a tax credit to help pay for their monthly health insurance premiums, with the credit amount based on their income and the cost of coverage. The change is administrative, simply updating the expiration date in the tax code rather than altering how the credit is calculated or who qualifies for it.
This bill extends two federal clean energy tax credits for electricity production and investment by allowing them to be renewed when electricity prices or demand rise significantly. It directly affects homeowners, businesses, and energy companies that install or produce clean electricity systems by providing tax incentives during periods of high energy costs. The key mechanism involves the Energy Information Administration tracking national electricity prices and sales, with the Treasury Secretary determining if a year qualifies as a price or demand increase year based on a 2% price rise or increased sales volume. When such a year is identified, the credits remain available for six years instead of expiring, and certain restrictions on using the credits are temporarily lifted for two years following the determination.
This resolution expresses support for the Working Families Tax Cuts, a law already enacted in July 2025 that provides various tax benefits to American taxpayers. The bill directly affects individuals and families by recognizing specific provisions that reduce tax liability, including expanded child tax credits, increased standard deductions, and tax relief for tipped workers and overtime pay. Key provisions include making a four-person household earning under $73,000 generally face zero federal income tax, increasing the child tax credit to $2,200 per child, and allowing 529 accounts to cover K-12 and trade school expenses. The resolution also acknowledges tax relief for seniors, auto loan interest deductions for American-made vehicles, and expanded health savings account access. This is a procedural measure that formally acknowledges existing tax policies rather than creating new legislation.
This bill creates a temporary tax credit for middle-income households earning between $80,000 and $160,000 to help offset rising costs for commuting, groceries, and utilities during a designated emergency period related to the U.S.-Israel-Iran conflict. The credit is refundable and will automatically phase out once the conflict ends or energy prices return to normal levels for at least 180 consecutive days. It also establishes federal price gouging prohibitions on fuel, heating, and essential consumer staples, allowing the FTC and Department of Justice to enforce penalties against businesses that charge grossly excessive prices without justified cost increases. The bill includes a requirement for the FTC to study state and local price gouging laws during the emergency and report recommendations to Congress within 18 months. All provisions expire when the designated emergency period ends, though enforcement actions can continue after that date.
