Us Congress 2025-2026 Regular Session

House Ways and Means Committee Bills & Legislation (Page 31)

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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB523

Introduced
1/16/25  
Permanent Tax Cuts for American Families Act of 2025 This bill makes permanent the increased standard tax deduction amounts enacted in 2017 as part of the Tax Cuts and Jobs Act. Under current law, the standard tax deduction consists of a statutory base amount that is adjusted annually for inflation. For tax years 2018-2025, the Tax Cuts and Jobs Act increased the standard tax deduction statutory base amounts to $24,000 (from $6,000) for joint filers, $18,000 (from $4,400) for head-of-household filers, and $12,000 (from $3,000) for single filers, which almost doubled the inflation-adjusted standard tax deduction amount for most taxpayers.Under the bill, the increased standard tax deduction statutory base amounts of $24,000 for joint filers, $18,000 for head-of-household filers, and $12,000 for single filers are made permanent. The bill also makes permanent the annual adjustments to such amounts for inflation.
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB559

Introduced
1/20/25  
Seniors in the Workforce Tax Relief ActThis bill establishes a new above-the-line federal tax deduction through 2029 for individuals who attain the age of 65 before the end of the tax year. (Above-the-line deductions are subtracted from gross income to calculate adjusted gross income.)Under the bill, the amount of the tax deduction is $25,000 for individuals (or $50,000 for joint filers and surviving spouses) and begins to phase out for individuals with an adjusted gross income over $100,000 (or $200,000 for joint filers and surviving spouses). 
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB562

Introduced
1/20/25  
BLUE Pacific Act Boosting Long-term U.S. Engagement in the Pacific Act
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB560

Introduced
1/20/25  
Second Job Tax Relief Act of 2025
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB558

Introduced
1/20/25  
Tip Tax Termination Act This bill excludes from gross income for federal tax purposes up to $20,000 of eligible tips received during the tax year. The bill also requires the Internal Revenue Service to modify the tables and procedures used to withhold federal income tax from wages to take into account eligible tips excluded from gross income. The bill defines eligible tips as amounts received while performing services in a position that generally relies on tips as part of wages, including cosmetology, hospitality, and food service.Further, under the bill, the amount of eligible tips excluded from gross income must not be included in determining federal tax deductions or credits, except for purposes of calculating the child tax credit and earned income tax credit.Finally, the exclusion from gross income only applies to eligible tips received before 2030.
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB561

Introduced
1/20/25  
Overtime Pay Tax Relief Act of 2025This bill allows a tax deduction for overtime compensation received by an individual, subject to income limitations, through 2029. The amount of the deduction may not exceed 20% of the individual’s regular wages from the same employer. Further, the deduction is not allowed for an individual with adjusted gross income exceeding $100,000 (or $150,000 for a head of the household and $200,000 for a married couple filing a joint return).  
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB557

Introduced
1/20/25  
Working Class Bonus Tax Relief Act of 2025This bill allows a tax deduction for bonuses received by an individual, subject to income limitations, through 2029. The amount of the deduction may not exceed 15% of the individual’s regular wages from the same employer. Further, the deduction is not allowed for individuals with annual adjusted gross income exceeding $100,000 (or $150,000 for heads of the household and $200,000 for married couples filing a joint return).  
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB579

Introduced
1/21/25  
Refer
1/21/25  
Recruiting Families Using Data Act of 2025This bill requires state plans for child welfare services to provide for the development and implementation of a family partnership plan to improve foster care placement stability, increase rates of kinship placements, and align the composition of foster and adoptive families with the needs of children in or entering foster care.The Children's Bureau of the Administration for Children and Families also must include in its annual report information from states about the number, demographics, and characteristics of foster and adoptive families as well as a summary of the challenges related to recruiting and being foster or adoptive parents.
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB571

Introduced
1/21/25  
____ Act
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB591

Introduced
1/21/25  
Defending American Jobs and Investment Act
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB570

Introduced
1/21/25  
This bill expands the definition of a qualifying child to include a stillborn child for purposes of the child tax credit. (Under current law, taxpayers may claim a tax credit of up $2,000 for each qualifying child.)Under the bill, a stillborn child is an unborn child (1) carried in the womb for a gestational period of 20 weeks or more, and (2) delivered after the spontaneous intrauterine fetal demise of the child.
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HJR25

Introduced
1/21/25  
Refer
1/21/25  
Report Pass
2/26/25  
Engrossed
3/12/25  
Enrolled
4/1/25  
Passed
4/10/25  
Chaptered
4/10/25  
This joint resolution nullifies the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the Internal Revenue Service (IRS) on December 30, 2024. The rule generally requires persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the IRS.
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB593

Introduced
1/21/25  
Strengthening Pathways to Health Professions Act
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB616

Introduced
1/22/25  
This bill increases the limit on the energy efficient home improvement tax credit to $4,000 (from $2,000) for the cost of an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler.Under current law, a taxpayer may claim a nonrefundable tax credit of 30% of the cost, up to $2,000, for an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler for a principal residence. (Under current law, taxpayers may also claim a nonrefundable tax credit of 30% of the costs, up to $1,200, for certain other eligible energy-efficient property such that some taxpayers may qualify for a maximum tax credit of $3,200.)
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Us Congress 2025-2026 Regular Session

Us Congress House Bill HB615

Introduced
1/22/25  
To amend the Internal Revenue Code of 1986 to establish a refundable tax credit for individuals for amounts paid for gas and electricity for primary residences.