Latest action: Referred to the House Committee on Ways and Means.
Referred to one or more standing committees for review, hearings, and possible markup.
Specific committees not parsed from action data.
The committee may hold hearings, amend the bill, or let it die without action.
Next: Reported
Full chamber floor — Speaker / Majority Leader controls scheduling
Creates monthly tax credits for working Americans and closes tax loopholes for billionaires.
The problem
Working Americans struggle with cost of living while some wealthy individuals minimize taxes. Income inequality affects household budgets.
The proposal
Establishes monthly tax credits for workers. Eliminates certain tax deductions and strategies used by billionaires. Changes Internal Revenue Code provisions.
The impact
Working families receive regular tax relief. Billionaires face higher effective tax rates. Federal tax revenue and spending patterns may change significantly.
Regular tax credits give working families predictable extra income each month. This helps with rent, food, and bills. Cash flow improves throughout the year.
Closing billionaire tax loopholes means wealthy individuals pay more of their share. This addresses perception that rich people avoid taxes. System becomes more progressive.
Eliminating loopholes could raise federal tax revenue. More money available for government programs and deficit reduction. Depends on how much billionaires currently save.
Closing complex loopholes may reduce tax avoidance strategies. Fewer complicated deductions to track. Tax code becomes somewhat simpler.
Higher taxes on wealthy investors may reduce capital for business expansion. Investment in startups and companies could decline. Job creation might slow.
Defining which tax strategies count as loopholes is difficult. Billionaires may find new strategies. Enforcement requires IRS resources and expertise.
Monthly credits add federal spending without clear cost estimates. Budget impact unknown. May increase deficit or require spending cuts elsewhere.
Companies owned by billionaires might move operations overseas. Assets could relocate to lower-tax countries. America could lose tax base and jobs.
Generated by AI from the bill text. Not a prediction and not legal or policy advice. The percentage is the model's own rating of each item — self-reported, and not a measure of how accurate it is.
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Individual contributions, grouped by employer · FEC
Where their individual donors work · 2026 cycle
Money from people who work there, not from the company. Not tied to this bill.
Itemized individual contributions via FEC, grouped by the employer each contributor self-reported. Companies and unions cannot contribute to federal candidates from their treasuries, so these totals are money from people who work at an employer — never from the organization itself. They are campaign contributions covering a full election cycle and are not connected to this bill.
Senate LDA lobbying disclosures
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