Income Tax Credits
US Congress 115th Congress
Agriculture Environmental Stewardship Act of 2017 [S.988]
[Agriculture ]
[Environmental ]
[Energy ]
[Taxes ]
[Climate Change ]
[Science ]
[Food ]
Agriculture Environmental Stewardship Act of 2017 This bill amends the Internal Revenue Code to allow energy tax credits through 2021 for investments in: (1) qualified biogas property, or (2) qualified manure resource recovery property. The bill also permits new clean renewable energy bonds to be used for such properties. "Qualified biogas property" comprises a system that: (1) uses anaerobic digesters or other specified processes to convert biomass into a gas which is at least 52% methane, and (2) captures the gas for use as a fuel. The term includes
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Sponsored by: Sen. Sherrod Brown
Read Twice And Referred To The Committee On Finance. on 04/27/2017
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Refundable Child Tax Credit Eligibility Verification Reform Act of 2017 [HB-2149]
[Taxes ]
[Children and Youth ]
Refundable Child Tax Credit Eligibility Verification Reform Act of 2017 This bill amends the Internal Revenue Code to require taxpayers who are claiming the refundable portion of the child tax credit to include their Social Security number on their tax return.
Sponsored by: Rep. Robert Wittman
Introduced In House on 04/26/2017
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Taxpayer Protection Act of 2017 [HB-2171]
[Taxes ]
[Budget and Spending ]
[Funding ]
[Consumer Protection ]
Taxpayer Protection Act of 2017 This bill amends the Internal Revenue Code to establish additional requirements and procedures for collecting taxes, regulating tax preparers, responding to identity theft, and assisting low-income taxpayers. The bill repeals the authority of the Internal Revenue Service (IRS) to contract with private companies to collect federal tax debts. It also excludes from the gross income of an individual up to $10,000 of income from the discharge of a debt over the individual's lifetime. The bill requires the statute of limitations
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Sponsored by: Rep. Earl Blumenauer
Introduced In House on 04/26/2017
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Right Start Child Care and Education Act of 2017 [HB-2140]
[Taxes ]
[Labor, Jobs, Employment ]
[Children and Youth ]
[Education ]
[Small Business ]
[Budget and Spending ]
[Healthcare ]
[Family-Related Legislation ]
Right Start Child Care and Education Act of 2017 This bill amends the Internal Revenue Code to: (1) increase the rates and maximum allowable amount of the tax credit for employer-provided child care facilities; (2) increase the eligibility threshold amount and rate of the household and dependent care tax credit and make such credit refundable; (3) allow a new $2,000 tax credit for child care providers who hold a bachelor's degree in early childhood education, child care, or a related degree and who provide at least 1,200 hours of child care services
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Sponsored by: Rep. C.A. Ruppersberger
Introduced In House on 04/25/2017
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Adoption Tax Credit Refundability Act of 2017 [S.937]
[Taxes ]
[Family-Related Legislation ]
[Children and Youth ]
Adoption Tax Credit Refundability Act of 2017 This bill amends the Internal Revenue Code to make the tax credit for adoption expenses refundable.
Sponsored by: Sen. Robert Casey
Read Twice And Referred To The Committee On Finance. on 04/25/2017
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Tax Fairness for All Families Act of 2017 [HB-2110]
[Taxes ]
[Family-Related Legislation ]
[Budget and Spending ]
Tax Fairness for All Families Act of 2017 This bill amends the Internal Revenue Code, with respect to the earned income tax credit, to provide for an increased credit percentage for taxpayers with more than three qualifying children.
Sponsored by: Rep. Jerrold Nadler
Introduced In House on 04/20/2017
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SMART Act Simplified, Manageable, And Responsible Tax Act [S.893]
[Taxes ]
[Budget and Spending ]
[Pensions ]
[Retirement ]
SMART Act Simplified, Manageable, And Responsible Tax Act This bill amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 17% on individual taxable income. The bill redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. It also: increases the basic standard deduction, includes an additional standard deduction for dependents, and includes the taxable income of each dependent child under the age of 14 in an individual's
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Sponsored by: Sen. Richard Shelby
Read Twice And Referred To The Committee On Finance. on 04/07/2017
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Tribal Adoption Parity Act [S.876]
[Taxes ]
[Family-Related Legislation ]
[Native American Affairs ]
[Children and Youth ]
Tribal Adoption Parity Act This bill amends the Internal Revenue Code to allow Indian tribal governments to determine whether a child has special needs for the purposes of the adoption tax credit.
Sponsored by: Sen. Amy Klobuchar
Read Twice And Referred To The Committee On Finance. on 04/06/2017
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Improved Employment Outcomes for Foster Youth Act of 2017 [S.885]
[Labor, Jobs, Employment ]
[Taxes ]
[Children and Youth ]
[Human Services ]
[Social Security ]
[Small Business ]
[Budget and Spending ]
Improved Employment Outcomes for Foster Youth Act of 2017 This bill amends the Internal Revenue Code to expand the Work Opportunity Tax Credit (WOTC) to include the hiring of qualified foster care transition youth. (The WOTC permits employers who hire individuals who are members of a targeted group [e.g., qualified veterans, ex-felons, SSI recipients] to claim a tax credit equal to a portion of the wages paid to those individuals.) A "qualified foster care transition youth" is any individual who is certified by the designated local agency as: (1)
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Sponsored by: Sen. Robert Casey
Read Twice And Referred To The Committee On Finance. on 04/06/2017
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Tribal Adoption Parity Act [HB-2035]
[Taxes ]
[Native American Affairs ]
[Children and Youth ]
Tribal Adoption Parity Act This bill amends the Internal Revenue Code to allow Indian tribal governments to determine whether a child has special needs for the purposes of the adoption tax credit.
Sponsored by: Rep. Pramila Jayapal
Introduced In House on 04/06/2017
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Improved Employment Outcomes for Foster Youth Act of 2017 [HB-2060]
[Labor, Jobs, Employment ]
[Taxes ]
[Children and Youth ]
[Human Services ]
[Social Security ]
[Small Business ]
Improved Employment Outcomes for Foster Youth Act of 2017 This bill amends the Internal Revenue Code to expand the Work Opportunity Tax Credit (WOTC) to include the hiring of qualified foster care transition youth. (The WOTC permits employers who hire individuals who are members of a targeted group [e.g., qualified veterans, ex-felons, SSI recipients] to claim a tax credit equal to a portion of the wages paid to those individuals.) A "qualified foster care transition youth" is any individual who is certified by the designated local agency as: (1)
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Sponsored by: Rep. James Langevin
Introduced In House on 04/06/2017
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Offshoring Prevention Act [S.863]
[Taxes ]
[Trade ]
[Manufacturing ]
[Finance ]
[Small Business ]
[Economic Development ]
Offshoring Prevention Act This bill amends the Internal Revenue Code to include imported property income in foreign base company income, for purposes of determining the income of controlled foreign corporations. The bill defines "imported property income" as, with certain exceptions, income derived in connection with: manufacturing, producing, growing, or extracting imported property; the sale, exchange, or other disposition of imported property; or the lease, rental, or licensing of imported property. The bill also provides for a separate application
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Sponsored by: Sen. Sheldon Whitehouse
Read Twice And Referred To The Committee On Finance. on 04/06/2017
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CO2 Regulatory Certainty Act [HB-2010]
[Energy ]
[Taxes ]
[Environmental ]
[Air Quality ]
[Climate Change ]
CO2 Regulatory Certainty Act This bill amends the Internal Revenue Code to revise requirements for the secure geological storage of carbon dioxide for the purpose of the tax credit for carbon dioxide sequestration. The bill establishes a December 31, 2017, deadline and requirements for regulations that the Internal Revenue Service (IRS) is required, under current law, to establish for determining adequate security measures for the geological storage of the carbon dioxide such that carbon dioxide does not escape into the atmosphere. The IRS regulations
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Sponsored by: Rep. David McKinley
Introduced In House on 04/06/2017
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Offshoring Prevention Act [HB-2005]
[Taxes ]
[Trade ]
[Manufacturing ]
[Finance ]
[Small Business ]
[Economic Development ]
Offshoring Prevention Act This bill amends the Internal Revenue Code to include imported property income in foreign base company income, for purposes of determining the income of controlled foreign corporations. The bill defines "imported property income" as, with certain exceptions, income derived in connection with: manufacturing, producing, growing, or extracting imported property; the sale, exchange, or other disposition of imported property; or the lease, rental, or licensing of imported property. The bill also provides for a separate application
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Sponsored by: Rep. Raul Grijalva
Introduced In House on 04/06/2017
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Stop Tax Haven Abuse Act [HB-1932]
[Finance ]
[Taxes ]
[Trade ]
[Small Business ]
[Cybersecurity ]
[Economic Development ]
[Law Enforcement ]
[National Security ]
[Crime ]
Stop Tax Haven Abuse Act This bill authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. The bill amends the Internal Revenue Code to: expand reporting requirements for certain foreign investments and accounts held by U.S. persons, establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance
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Sponsored by: Rep. Raul Grijalva
Introduced In House on 04/05/2017
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Stop Tax Haven Abuse Act [S.851]
[Finance ]
[Taxes ]
[Trade ]
[International ]
[Small Business ]
[Investments ]
[Law Enforcement ]
[National Security ]
[Economic Development ]
[Crime ]
Stop Tax Haven Abuse Act This bill authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. The bill amends the Internal Revenue Code to: expand reporting requirements for certain foreign investments and accounts held by U.S. persons, establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance
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Sponsored by: Sen. Sheldon Whitehouse
Read Twice And Referred To The Committee On Finance. on 04/05/2017
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Health Care Options Act of 2017 [HB-1933]
[Healthcare ]
[Taxes ]
[Insurance ]
[Medicare and Medicaid ]
[Public Health ]
Health Care Options Act of 2017 This bill amends the Internal Revenue Code to temporarily permit certain individuals to use the premium assistance tax credit to purchase health insurance outside of an exchange established under the Patient Protection and Affordable Care (PPACA). The bill applies to individuals who reside in a rating area or county that the Department of Health and Human Services has certified has no qualified health plans offered through an exchange established under PPACA. Individuals residing in the areas or counties may use the
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Sponsored by: Rep. David Roe
Referred To The Subcommittee On Health. on 04/07/2017
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ABLE to Work Act of 2017 [S.818]
[Taxes ]
[Disabilities ]
[Retirement ]
ABLE to Work Act of 2017 This bill amends the Internal Revenue Code, with respect to ABLE accounts (tax-exempt savings accounts for persons with a disability), to allow: (1) an ABLE account beneficiary to make additional contributions to an ABLE account equal to the lesser of such beneficiary's compensation or an amount equal to the federal poverty line for a one-person household, and (2) a retirement savings tax credit for contributions to an ABLE account.
Sponsored by: Sen. Robert Casey
Read Twice And Referred To The Committee On Finance. on 04/04/2017
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ABLE to Work Act of 2017 [HB-1896]
[Taxes ]
[Disabilities ]
[Retirement ]
ABLE to Work Act of 2017 This bill amends the Internal Revenue Code, with respect to ABLE accounts (tax-exempt savings accounts for persons with a disability), to allow: (1) an ABLE account beneficiary to make additional contributions to an ABLE account equal to the lesser of such beneficiary's compensation or an amount equal to the federal poverty line for a one-person household, and (2) a retirement savings tax credit for contributions to an ABLE account.
Sponsored by: Rep. Sean Maloney
Introduced In House on 04/04/2017
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Inclusive Prosperity Act of 2017 [S.805]
[Taxes ]
[Finance ]
[Investments ]
Inclusive Prosperity Act of 2017 This bill amends the Internal Revenue Code to: (1) impose an excise tax on the transfer of ownership in certain securities (covered transaction), including any share of stock in a corporation, any partnership or beneficial interest in a partnership or trust, any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds), or derivative financial instruments; (2) impose a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement;
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Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 04/03/2017