Strengthening Supply Chains Through Truck Driver Incentives Act of 2023

Hozzl · 2023-12-15T15:56:41Z

Explore the details of House Bill 2450 Strengthening Supply Chains Through Truck Driver Incentives Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/15/2023, 3:56 PM

Summary of Bill HR 2450

Bill 118 hr 2450, also known as the Strengthening Supply Chains Through Truck Driver Incentives Act of 2023, aims to address the ongoing challenges faced by the trucking industry in the United States. The bill focuses on incentivizing truck drivers to stay in the industry and improve the efficiency of supply chains.

One of the key provisions of the bill is the establishment of a grant program to provide financial incentives to truck drivers who commit to staying in the industry for a certain period of time. These incentives may include signing bonuses, retention bonuses, or other forms of financial support to help drivers cover expenses related to their job.

Additionally, the bill includes measures to improve working conditions for truck drivers, such as requiring companies to provide adequate rest breaks, access to clean and safe facilities, and fair compensation for their work. The bill also aims to address the shortage of truck drivers by providing funding for training programs and initiatives to attract new drivers to the industry. Overall, the Strengthening Supply Chains Through Truck Driver Incentives Act of 2023 seeks to support the trucking industry and improve the efficiency of supply chains in the United States by incentivizing truck drivers to stay in the industry and addressing key challenges faced by drivers.

Congressional Summary of HR 2450

Strengthening Supply Chains Through Truck Driver Incentives Act of 2023

This bill allows certain licensed commercial truck drivers a $7,500 tax credit in a taxable year. The adjusted gross income of such drivers may not exceed $90,000 ($135,000 in the case of a joint tax return and $112,500 for heads of household). Such drivers must have driven a truck in a trade or business for a specified number of hours in a taxable year.

The credit expires after December 31, 2024.

Current Status of Bill HR 2450

Bill HR 2450 is currently in the status of Bill Introduced since March 30, 2023. Bill HR 2450 was introduced during Congress 118 and was introduced to the House on March 30, 2023. Bill HR 2450's most recent activity was Referred to the House Committee on Ways and Means. as of March 30, 2023