House Bill 7400 - Inflation Relief Act

Purpose and Summary

Chamber: House

Introduced date: 2024-02-15

Recent Activity

Referred to the House Committee on Ways and Means.

Alternative Names

Inflation Relief Act

Inflation Relief Act

To amend the Internal Revenue Code of 1986 to provide individuals a refundable credit for a portion of Federal income tax liability for 2024.

Associated Legislation

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Policy Areas

Taxation

Potential Impact

Sponsors and Supporters

Rep. Vasquez, Gabe [D-NM-2]

Cosponsors and Supporters

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Committees and Subcommittees

Ways and Means Committee

Variations and Revisions

Gabe Vasquez

Inflation Relief Act

3/6/2024, 4:45 AM

Inflation Relief Act

This bill allows a refundable income tax credit for 10% of federal tax liability for a taxable year beginning in 2024. The credit is not available to taxpayers whose modified adjusted gross income ex...

Congress
118

Number
HR - 7400

Introduced on
2024-02-15

# Amendments
0

Sponsors
+5

Variations and Revisions

2/15/2024

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Inflation Relief Act

This bill allows a refundable income tax credit for 10% of federal tax liability for a taxable year beginning in 2024. The credit is not available to taxpayers whose modified adjusted gross income ex...

Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to provide individuals a refundable credit for a portion of Federal income tax liability for 2024.

Policy Areas
Taxation

Comments

Recent Activity

Latest Summary3/5/2024

Inflation Relief Act

This bill allows a refundable income tax credit for 10% of federal tax liability for a taxable year beginning in 2024. The credit is not available to taxpayers whose modified adjusted gross income ex...


Latest Action2/15/2024
Referred to the House Committee on Ways and Means.