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Read twice and referred to the Committee on Finance.
Introduced January 9, 2025 by Jeanne Shaheen · Last progress 1 year ago
Changes the tax code’s formula for an “applicable percentage” used to compute a tax credit so that the percentage rises on a linear (sliding) scale across income tiers, and makes conforming edits to related affordability/coverage rules. The change applies to taxable years beginning after December 31, 2025.
The amendment will change how much of the credit eligible taxpayers receive (and how much they are treated as expected to contribute) across income levels, and will require IRS guidance and tax-system updates to implement.
