HR 7400 · 118th Congress · Taxation

Inflation Relief Act

Introduced 2024-02-15· Sponsored by Rep. Vasquez, Gabe [D-NM-2]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2024-02-15)

Plain Language Summary

[AI summary unavailable — showing source text] 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 exceeds $150,000 ($250,000 for joint tax returns) in any taxable year.…

Summarized by Claude AI · Non-partisan · For informational purposes only