H.R. 7400 · 118th Congress
Inflation Relief Act
- Stage
- In committee
- Sponsor
- Gabriel (Gabe) Vasquez
- Introduced
- 2024-02-15
- Latest action
- 2024-02-15 · Introduced in House
Summary
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.