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Volunteer Driver Tax Appreciation Act of 2022
12/29/2022, 11:03 PM
Summary of Bill HR 7432
Bill 117 HR 7432, also known as the Volunteer Driver Tax Appreciation Act of 2022, is a piece of legislation introduced in the US Congress. The purpose of this bill is to provide tax incentives for volunteer drivers who provide transportation services to individuals in need, such as the elderly, disabled, or low-income individuals.
Under this bill, volunteer drivers would be eligible for a tax credit of up to $500 for their expenses related to providing transportation services. This includes costs such as gas, maintenance, and insurance. In order to qualify for the tax credit, volunteer drivers must be affiliated with a qualified organization that provides transportation services to those in need.
The bill aims to incentivize more individuals to volunteer as drivers, thereby increasing access to transportation services for vulnerable populations. Supporters of the bill argue that volunteer drivers play a crucial role in helping individuals who may not have access to reliable transportation options. Opponents of the bill may argue that it could potentially create additional administrative burdens for the IRS in verifying and processing tax credits for volunteer drivers. They may also raise concerns about the potential for abuse or fraud in claiming the tax credit. Overall, the Volunteer Driver Tax Appreciation Act of 2022 seeks to recognize and support the important work of volunteer drivers in providing transportation services to those in need. It remains to be seen whether this bill will garner enough support to pass through Congress and become law.
Under this bill, volunteer drivers would be eligible for a tax credit of up to $500 for their expenses related to providing transportation services. This includes costs such as gas, maintenance, and insurance. In order to qualify for the tax credit, volunteer drivers must be affiliated with a qualified organization that provides transportation services to those in need.
The bill aims to incentivize more individuals to volunteer as drivers, thereby increasing access to transportation services for vulnerable populations. Supporters of the bill argue that volunteer drivers play a crucial role in helping individuals who may not have access to reliable transportation options. Opponents of the bill may argue that it could potentially create additional administrative burdens for the IRS in verifying and processing tax credits for volunteer drivers. They may also raise concerns about the potential for abuse or fraud in claiming the tax credit. Overall, the Volunteer Driver Tax Appreciation Act of 2022 seeks to recognize and support the important work of volunteer drivers in providing transportation services to those in need. It remains to be seen whether this bill will garner enough support to pass through Congress and become law.
Congressional Summary of HR 7432
Volunteer Driver Tax Appreciation Act of 2022
This bill increases the mileage rate for the charitable use of an automobile (14 cents per mile) to the standard business mileage rate (58.5 cents per mile in 2022).
Read the Full Bill
Current Status of Bill HR 7432
Bill HR 7432 is currently in the status of Bill Introduced since April 6, 2022. Bill HR 7432 was introduced during Congress 117 and was introduced to the House on April 6, 2022. Bill HR 7432's most recent activity was Referred to the House Committee on Ways and Means. as of April 6, 2022
Bipartisan Support of Bill HR 7432
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
14Democrat Cosponsors
12Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7432
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 7432
Volunteer Driver Tax Appreciation Act of 2022
Volunteer Driver Tax Appreciation Act of 2022
To amend the Internal Revenue Code of 1986 to equalize the charitable mileage rate with the business travel rate.
Comments
Sponsors and Cosponsors of HR 7432
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