If the United States government forces an owner to sell their property through eminent domain or condemnation for a public project, the owner would not have to report the money as taxable income on their tax return under legislation proposed Read more…
In response to a recently proposed wealth tax in California that would apply retroactively to certain former residents of the state, U.S. Rep. Kevin Kiley (R-CA) is leading legislation that would prohibit any state from imposing such a tax. “California’s Read more…
U.S. Rep. Mike Carey (R-OH) on Feb. 12 led four of his Republican colleagues in introducing legislation that would eliminate the Superfund Tax, which funds the cleanup of hazardous waste sites. The Pay Less at the Pump Act of 2026, Read more…
U.S. Rep. Kevin Kiley (R-CA) said on Feb. 10 that he is drafting legislation aimed at curbing what he calls excessive state gas taxes, including California’s — currently the highest in the nation at nearly 71 cents per gallon. “Californians Read more…
Legislation recently cosponsored by U.S. Rep. Ashley Hinson (R-IA) aims to help Americans afford the costs associated with careers in the trades, skilled labor, and apprenticeship-based professions through tax-free savings accounts modeled after 529 college savings plans. The congresswoman on Read more…
Rep. Greg Murphy (R-NC) introduced bipartisan legislation on Jan. 22 aimed at strengthening the market for American-grown cotton by creating a domestic cotton consumption tax credit. H.R. 7230, the Buying American Cotton Act of 2026, would amend the Internal Revenue Read more…
U.S. Sen. Marsha Blackburn (R-TN) on Jan. 7 sponsored legislation that would ensure interest paid by the Internal Revenue Service (IRS) to taxpayers who prevail in an audit or tax-related litigation is not treated as taxable income. The No Tax Read more…
U.S. Reps. Mike Kelly (R-PA), Vern Buchanan (R-FL), and Ron Estes (R-KS) applauded recent action by the U.S. Treasury Department to exempt U.S.-headquartered multinational companies from the OECD’s Pillar Two global minimum tax framework, which the lawmakers said will protect Read more…
U.S. Sen. Bill Cassidy (R-LA) and U.S. Rep. Maria Elvira Salazar (R-FL) on Dec. 16 proposed bipartisan, bicameral legislation that would create a first-of-its-kind disaster mitigation tax credit for families and small business owners in disaster-prone areas. “Everybody in my Read more…
The U.S. House Ways and Means Committee on Dec. 10 voted 40-0 to approve a bipartisan bill sponsored by U.S. Rep. Vince Fong (R-CA) that aims to provide America’s pastors and clergy members with more retirement security. “Faith leaders are Read more…