Tax Relief for American Families and Workers Act of 2024
Latest action. Motion by Senator Schumer to reconsider the vote by which clotureThe Senate's only procedure for ending debate over objection. Most legislation needs 60 votes; nominations need a simple majority.Read the full definition (opens a new tab) on the motion to proceed to the measure was not invoked (Record Vote No. 230) made in Senate.
Tax Relief for American Families and Workers Act of 2024
TITLE I--TAX RELIEF FOR WORKING FAMILIES
This title modifies the calculation of the refundable portion of the child tax credit to require the multiplication of the credit amount in calendar years 2023-2025 by the number of qualifying children. The maximum refundable amount per child of such credit is increased to $1,800 in 2023, $1,900 in 2024, and $2,000 in 2025, with an inflation adjustment beginning after 2023.
The title allows taxpayers to elect in 2024 and 2025 to use prior year earned income in calculating their earned income tax credit
TITLE II--AMERICAN INNOVATION AND GROWTH
This title allows taxpayers to delay the date on which they must begin deducting their domestic research or experimental research costs over a five-year period until 2026. Taxpayers may therefore expense such costs incurred between 2022-2026.
The title extends the allowance for depreciation, amortization, or depletion in determining the limitation of the business interest deduction. It also extends 100% bonus depreciation and increases the limitations on expensing of depreciable business assets.
TITLE III--INCREASING GLOBAL COMPETITIVENESS
Subtitle A--United States-Taiwan Expedited Double-Tax Relief Act
United States-Taiwan Expedited Double-Tax Relief Act
This subtitle sets forth special rules for the taxation of certain residents of Taiwan, including rules for the reduction of withholding taxes, the application of permanent establishment rules, the treatment of income from employment, and the determination of Taiwanese residency, including rules for dual residents.
Subtitle B--United States-Taiwan Tax Agreement Authorization Act
United States-Taiwan Tax Agreement Authorization Act
This subtitle grants the President authority to negotiate and enter into a U.S.-Taiwan tax agreement after the tax provisions of this title are enacted and effective.
TITLE IV--ASSISTANCE FOR DISASTER-IMPACTED COMMUNITIES
Federal Disaster Tax Relief Act of 2024
This title excludes from gross income, for income tax purposes, compensation for losses or damages due to certain wildfires. It applies only to payments received by a taxpayer after 2019 and before 2026.
The summary continues for 6 more paragraphs. Read it in full on Congress.gov
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Passed House" stage on January 31, 2024. It describes the bill, it is not the legal text.
Motion by Senator Schumer to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 230) made in Senate.
Civibrief does not map this action to a stage in the process. See the official record.
Where is it in the process, and what happens next?
The latest action on file does not map to a stage Civibrief recognizes, so the page will not name one. The record's own words are the reliable fact here.
The record's latest action, on August 1, 2024: Motion by Senator Schumer to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 230) made in Senate.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 118th Congress (2023-24), 274 of the 16,565 bills and joint resolutions introduced became law, about 1.7 percent. That count covers every measure at every stage, including the many that never left committee.
This one has no outstanding steps listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Jason Smith (R-MO) introduced it on January 17, 2024. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on January 17, 2024, 967 days ago. The most recent recorded action was 770 days ago, on August 1, 2024.
Measures do not carry over. Anything the 118th Congress has not finished by January 3, 2025 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseMotion by Senator Schumer to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 230) made in Senate.
- SenateNot stated in the latest action
- PresidentNot stated in the latest action