To amend the Internal Revenue Code of 1986 to provide individuals a refundable credit for a portion of Federal income tax liability for 2024.
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.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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