Us Congress 2025-2026 Regular Session

Us Congress Senate Bill SB467 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	II
2	2	119THCONGRESS
3	3	1
4	4	STSESSION S. 467
5	5	To amend the Internal Revenue Code of 1986 to allow an above-the-line
6	6	deduction for attorney fees and costs in connection with consumer claim
7	7	awards.
8	8	IN THE SENATE OF THE UNITED STATES
9	9	FEBRUARY6 (legislative day, FEBRUARY5), 2025
10	10	Ms. C
11	11	ORTEZMASTO(for herself, Mrs. MURRAY, Mrs. SHAHEEN, Mr. KAINE,
12	12	Mr. B
13	13	ENNET, and Mr. BOOKER) introduced the following bill; which was
14	14	read twice and referred to the Committee on Finance
15	15	A BILL
16	16	To amend the Internal Revenue Code of 1986 to allow an
17	17	above-the-line deduction for attorney fees and costs in
18	18	connection with consumer claim awards.
19	19	Be it enacted by the Senate and House of Representa-1
20	20	tives of the United States of America in Congress assembled, 2
21	21	SECTION 1. SHORT TITLE. 3
22	22	This Act may be cited as the ‘‘End Double Taxation 4
23	23	of Successful Consumer Claims Act’’. 5
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26	26	•S 467 IS
27	27	SEC. 2. ABOVE-THE-LINE DEDUCTION FOR ATTORNEY FEES 1
28	28	AND COSTS IN CONNECTION WITH CON-2
29	29	SUMER CLAIM AWARDS. 3
30	30	(a) I
31	31	NGENERAL.—The first sentence of paragraph 4
32	32	(20) of section 62(a) of the Internal Revenue Code of 5
33	33	1986 is amended by inserting ‘‘or a claim of a consumer 6
34	34	protection violation (as defined in subsection (f))’’ after 7
35	35	‘‘section 1862(b)(3)(A) of the Social Security Act (42 8
36	36	U.S.C. 1395y(b)(3)(A))’’. 9
37	37	(b) C
38	38	ONSUMERPROTECTIONVIOLATIONDEFINED.— 10
39	39	Section 62 of the Internal Revenue Code of 1986 is 11
40	40	amended by adding at the end the following new sub-12
41	41	section: 13
42	42	‘‘(f) C
43	43	ONSUMER PROTECTION VIOLATIONDE-14
44	44	FINED.—For purposes of subsection (a)(20), the term 15
45	45	‘consumer protection violation’ means an act that is un-16
46	46	lawful under any of the following: 17
47	47	‘‘(1) Section 987 of title 10, United States 18
48	48	Code. 19
49	49	‘‘(2) Section 6, 8, or 9 of the Real Estate Set-20
50	50	tlement Procedures Act of 1974 (12 U.S.C. 2605, 21
51	51	2607, or 2608). 22
52	52	‘‘(3) The Expedited Funds Availability Act (12 23
53	53	U.S.C. 4001 et seq.). 24
54	54	‘‘(4) The Homeowners Protection Act of 1998 25
55	55	(12 U.S.C. 4901 et seq.). 26
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58	58	•S 467 IS
59	59	‘‘(5) The Truth in Lending Act (15 U.S.C. 1
60	60	1601 et seq.). 2
61	61	‘‘(6) The Credit Repair Organizations Act (15 3
62	62	U.S.C. 1679 et seq.). 4
63	63	‘‘(7) The Fair Credit Reporting Act (15 U.S.C. 5
64	64	1681 et seq.). 6
65	65	‘‘(8) The Equal Credit Opportunity Act (15 7
66	66	U.S.C. 1691 et seq.). 8
67	67	‘‘(9) The Fair Debt Collection Practices Act 9
68	68	(15 U.S.C. 1692 et seq.). 10
69	69	‘‘(10) The Electronic Fund Transfer Act (15 11
70	70	U.S.C. 1693 et seq.). 12
71	71	‘‘(11) The Interstate Land Sales Full Disclo-13
72	72	sure Act (15 U.S.C. 1701 et seq.). 14
73	73	‘‘(12) The Consumer Product Safety Act (15 15
74	74	U.S.C. 2051 et seq.). 16
75	75	‘‘(13) The Magnuson-Moss Warranty-Federal 17
76	76	Trade Commission Improvement Act (15 U.S.C. 18
77	77	2301 et seq.). 19
78	78	‘‘(14) The Servicemembers Civil Relief Act (50 20
79	79	U.S.C. 3901 et seq.). 21
80	80	‘‘(15) Any provision of Federal law prohibiting 22
81	81	unfair or deceptive trade or credit practices. 23
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84	84	•S 467 IS
85	85	‘‘(16) Any provision of Federal, State, or local 1
86	86	law, or common law claims permitted under Federal, 2
87	87	State, or local law— 3
88	88	‘‘(A) providing for the enforcement of con-4
89	89	sumer protection, or 5
90	90	‘‘(B) regulating any aspect of consumer 6
91	91	transactions, including claims for unfair, decep-7
92	92	tive, or abusive trade or credit practices, or for 8
93	93	other actions that cause harm to an individual 9
94	94	by a seller or provider of property, services, se-10
95	95	curities or other investments, money, or credit 11
96	96	for personal, family, or household use.’’. 12
97	97	(c) E
98	98	FFECTIVEDATE.—The amendments made by 13
99	99	this section shall apply to attorney fees and court costs 14
100	100	paid during taxable years ending after the date of the en-15
101	101	actment of this Act with respect to any judgment or settle-16
102	102	ment occurring during such taxable years. 17
103	103	Æ
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