Budget & Taxes (Tax Incentives)

in committee · United States · House Jan 28, 2025

HR 823: Heroes’ Tax Exemption Act of 2025

HR 823, the Heroes’ Tax Exemption Act of 2025, would exempt active duty members of the U.S. Armed Forces from federal income tax on their military earnings. The bill adds a new section (139J) to the Internal Revenue Code, removing active duty pay from taxable income for service members. This change directly affects current active duty personnel, not veterans or reservists, and applies to income earned after the second October following the bill's enactment. The provision modifies the tax code without altering other tax rules or creating new administrative requirements. The bill focuses solely on removing income tax liability for active duty military compensation.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts active duty military from federal income tax, providing direct tax relief for service members. Modifies tax code to remove this tax burden, aligning with tax relief indicators for lower/middle income groups.95% confidence

Sub-Topics Income Tax Tax Incentives

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in committee · United States · Senate Dec 3, 2025

S 3325: Expanding Access to Affordable Drugs and Medical Devices Act

This bill creates a new tax-exempt status ("public interest drug or medical device health care organization") for nonprofit organizations that manufacture or distribute affordable drugs and medical devices. To qualify, organizations must primarily focus on making eligible drugs/devices affordable (addressing shortages, unmet health needs, or public health emergencies), avoid conflicts with for-profit manufacturers, and meet strict board composition rules. Key provisions require organizations to agree to prioritize supplying designated drugs/devices to the federal strategic stockpile at cost during emergencies. The bill directly affects qualifying nonprofits seeking tax exemption, not patients or healthcare providers.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax-exempt status for nonprofits promoting affordable drugs, providing targeted tax relief per Budget & Taxes topic indicators.90% confidence ✓ HealthcareSupports HealthcareCreates tax-exempt status for nonprofits manufacturing affordable drugs/devices, addressing shortages/public health emergencies to improve patient access.95% confidence

Sub-Topics Tax Incentives Public Health

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in committee · United States · Senate Feb 6, 2025

S 479: New Markets Tax Credit Extension Act of 2025

This bill permanently extends the New Markets Tax Credit (NMTC) program, which incentivizes private investment in low-income communities. It modifies the tax code to keep the credit available beyond 2025 (replacing "2020 through 2025" with "2020 and each calendar year thereafter") and adds automatic annual inflation adjustments to the credit amount starting in 2026. The bill also provides tax relief by allowing NMTC credits to offset the alternative minimum tax, specifically for investments made after December 2024. This directly affects community development financial institutions (CDFIs) and investors who fund projects in designated low-income areas.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends NMTC tax credit for low-income community investments, provides tax relief via AMT offset, aligning with tax incentive policies for community development.95% confidence ✓ HousingSupports HousingExtends NMTC program to incentivize private investment in low-income communities, directly supporting affordable housing development through tax credits.95% confidence

Sub-Topics Tax Credits Tax Incentives Community Development Housing Finance Property Development

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in committee · United States · Senate Aug 1, 2025

S 2664: Skilled Workforce Act

S 2664, the Skilled Workforce Act, creates a 30% federal tax credit for businesses investing in training facilities that address workforce shortages in high-demand industries like high-tech manufacturing, clean energy, construction, and advanced transportation. The credit applies to eligible institutions (such as community colleges, career schools, and public secondary schools) partnering with businesses to build or upgrade facilities for skills-based training programs. Projects must be certified by Treasury and Commerce, with a total funding cap of $500 million, prioritizing rural schools and those serving underserved communities. The credit cannot be combined with other tax benefits for the same investment and applies to property placed in service after the bill's enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 30% federal tax credit for businesses, directly reducing tax burden through fiscal policy to address workforce shortages.90% confidence ✓ EducationSupports EducationBill provides 30% tax credit for businesses partnering with community colleges/public schools to fund training facilities, directly advancing educational infrastructure and skills-based programs.90% confidence ✓ EnergySupports EnergyBill explicitly targets 'clean energy' as a high-demand industry for workforce training, creating tax incentives to build skilled labor capacity in this sector.92% confidence ✓ EnvironmentSupports EnvironmentBill includes clean energy as a high-demand industry for workforce training, indirectly supporting environmental goals through clean energy sector development75% confidence ✓ Labor & EmploymentSupports Labor & EmploymentFunds training partnerships to address workforce shortages in key industries, advancing employment standards through skills development.85% confidence ✓ TechnologySupports TechnologyBill explicitly funds training for high-tech manufacturing workforce development via tax credits, directly advancing technology sector workforce needs.95% confidence ✓ TransportationSupports TransportationBill provides tax credit for training in 'advanced transportation' sector, supporting workforce development for transportation industries as explicitly listed in summary.85% confidence

Sub-Topics Tax Credits Tax Incentives Career & Technical Education Renewable Energy Apprenticeships Workforce Development

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in committee · United States · House Jan 9, 2025

HR 308: Low Income Housing for Defense Communities Act

This bill modifies tax incentives to increase affordable housing near military installations. It excludes military housing allowances (payments under 37 U.S.C. § 403) from income calculations when determining eligibility for low-income housing tax credits, directly helping service members and their families qualify for affordable housing. It also designates buildings within 15 miles of large military installations (valued over $2.833 billion) as "difficult development areas" for tax credit purposes, encouraging developers to build in these areas. The bill does not require such housing to be occupied solely by military members. These changes apply to tax credit determinations made after the bill's enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes military housing allowances from income calculations, expanding tax credit eligibility for service members, thus providing tax relief to low-income households through modified tax incentives.95% confidence ✓ HousingSupports HousingExcludes military housing allowances from income calculations for low-income housing tax credits, directly increasing eligibility. Designates military areas as 'difficult development areas' to boost housing access near installations.95% confidence

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

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in committee · United States · House Mar 27, 2025

HR 2410: Revitalizing Downtowns and Main Streets Act

HR 2410 creates a 20% federal tax credit for developers converting older non-residential buildings (at least 20 years old) into affordable housing. The credit applies to qualified conversion costs, requiring that 20% of units be rent-restricted for residents earning 80% or less of the area median income for 30 years. It establishes a $12 billion national credit limit, with $3 billion reserved for conversions in economically distressed areas, and mandates state-level allocation plans prioritizing projects near transit and employment. The bill directly affects developers seeking tax incentives for downtown revitalization, not tenants or local governments.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 20% federal tax credit for affordable housing conversions, directing $12B toward housing development with rent restrictions, advancing affordable housing funding through tax policy.95% confidence ✓ HousingSupports HousingCreates 20% tax credit for converting buildings to affordable housing with 20% rent-restricted units for 30 years targeting 80% AMI earners, directly funding affordable housing expansion.95% confidence

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

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in committee · United States · Senate Jul 30, 2025

S 2538: Working Waterfront Disaster Mitigation Tax Credit Act

This bill creates a 30% tax credit for businesses investing in disaster mitigation projects on "working waterfront" properties, such as those used for commercial fishing, boating, or aquaculture. The credit covers up to $300,000 annually per business for eligible costs like floodproofing, shoreline stabilization, or warning systems designed to prevent damage from natural hazards. To qualify, a business must meet a gross receipts limit of $47 million annually and use the property for water-dependent activities with access to navigable waters. The credit applies to projects completed after 2025 and is limited to one claim per business every 10 years.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 30% tax credit for businesses on disaster mitigation, reducing tax liability for qualifying waterfront operations. Directly modifies tax policy to incentivize investments.95% confidence ✓ EnvironmentSupports EnvironmentFunds disaster mitigation projects (floodproofing, shoreline stabilization) on waterfront properties to protect against natural hazards, advancing environmental resilience and resource protection.85% confidence

Sub-Topics Tax Credits Tax Incentives Coastal & Flood Protection

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in committee · United States · House Mar 27, 2025

HR 2434: No Tax Subsidies for Stadiums Act of 2025

HR 2434, the No Tax Subsidies for Stadiums Act of 2025, prohibits the use of tax-exempt bonds to finance professional sports stadiums. The bill defines a "professional stadium bond" as any bond financing a facility used for professional sports events on at least five days annually. This directly affects professional sports teams and local governments seeking tax-exempt financing for stadium construction or renovation projects. The law would take effect for bonds issued after its enactment, ending a common practice of using tax-free bonds to fund public-subsidized sports venues.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProhibits tax-exempt bonds for stadiums, restricting government spending via tax subsidies on private sports facilities.95% confidence

Sub-Topics Debt & Bonds Tax Incentives

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in committee · United States · House Aug 1, 2025

HR 4861: Working Waterfront Disaster Mitigation Tax Credit Act

The Working Waterfront Disaster Mitigation Tax Credit Act creates a 30% tax credit for businesses that invest in qualifying disaster mitigation projects on "working waterfront" property, such as commercial fishing facilities or boatyards. The credit covers up to $300,000 per year (adjusted for inflation after 2026) for projects designed to prevent flood, erosion, or storm damage using methods like structural elevation, floodproofing, or shoreline stabilization. To qualify, property must be used for water-dependent activities (e.g., commercial fishing or boating) with average annual gross receipts under $47 million and meet specific building code requirements for disaster resilience. The credit is limited to 10 years per business and applies to projects placed in service after 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 30% tax credit for disaster mitigation investments, promoting fiscal responsibility by preventing future government costs from disasters.90% confidence ✓ EnvironmentSupports EnvironmentProvides tax credits for shoreline stabilization and floodproofing projects to protect coastal properties from erosion and storms, advancing environmental conservation.95% confidence ✓ TransportationSupports TransportationBill protects transportation infrastructure (working waterfront properties for commercial use) via disaster mitigation tax credits, aligning with preserving transportation-related facilities.80% confidence

Sub-Topics Tax Credits Tax Incentives Coastal & Flood Protection Natural Disasters

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in committee · United States · House Feb 25, 2026

HR 7687: No Tax on Takings Act

This bill prevents property owners from paying income tax on the profit they make when the government takes their land or buildings through eminent domain (such as for public projects) or when they sell due to immediate threat of taking. It creates a new tax exclusion in the Internal Revenue Code, meaning the government's payment for the property isn't counted as taxable income. Property owners can choose to waive this exclusion and pay tax on the gain if they prefer. The bill directly affects homeowners and businesses facing government acquisitions using eminent domain powers.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax exclusion for property takings, reducing taxable income for owners - direct tax relief aligning with 'support' indicators.95% confidence

Sub-Topics Income Tax Tax Incentives

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