SALT Marriage Penalty Elimination Act This bill increases from $10,000 to $20,000 the amount that a married couple filing a joint tax return may deduct as state and local taxes (thus eliminating the tax effect known as the marriage penalty with respect to the deduction).
Earned Income Tax Credit Equity for Puerto Rico Act of 2021 This bill makes residents of Puerto Rico eligible for the federal earned income tax credit.
To exclude the Arizona Families Tax Rebate from Federal income tax.
Assuring Medicare’s Promise Act of 2023 This bill increases net investment income tax revenues by applying such tax to the trade or business income of certain high income taxpayers and includes the increased tax revenues in the Federal Hospital Insurance Trust Fund.
A bill to amend the Internal Revenue Code of 1986 to allow a portion of general business credit carryforwards to be transferred by certain taxpayers affected by federally declared disasters.
This bill allows a deduction from gross income (above the line deduction) for attorney fees and court costs awarded with respect to a qualifying wildfire disaster (i.e., any forest or range fire that is a federally declared disaster, occurs in a disaster area, and occurs in 2015 or later). The bill excludes from the gross income of a taxpayer, for income tax purposes, amounts paid to compensate victims for losses or damages in connection with a qualifying wildfire disaster.
FAIR Act Federal Adjustment of Income Rates Act
FAIR Act Federal Adjustment of Income Rates Act
Federal Employee Combat Zone Tax Parity Act This bill excludes from gross income, for income tax purposes, the compensation of a federal employee who served in a combat zone or was hospitalized as a result of wounds, disease, or injury incurred while serving in a combat zone. The bill terminates the exclusion two years after the end of combatant activities in such zone.
Permanently Repeal the Estate Tax Act of 2023 This bill repeals the federal estate tax, effective for estates of decedents dying after December 31, 2022.