H.R. 7295 · 117th Congress
Saving Americans from Vehicle Energy Costs Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HorsfordSponsorNo cosponsors.
This bill allows individual taxpayers a new refundable tax credit for owning or leasing a vehicle treated as a motor vehicle under the Clean Air Act and registered for highway use. The monthly amount of the credit is $300 times the number of such vehicles owned or leased by the taxpayer.
What it does: CRS summary · Introduced in House · Mar 30, 2022
Saving Americans from Vehicle Energy Costs Act
This bill allows individual taxpayers a new refundable tax credit for owning or leasing a vehicle treated as a motor vehicle under the Clean Air Act and registered for highway use. The monthly amount of the credit is $300 times the number of such vehicles owned or leased by the taxpayer. Taxpayers whose adjusted gross income exceeds $200,000 ($400,000 in the case of a joint tax return) in any taxable year are not eligible for the credit.
The Department of the Treasury must establish a program for advance monthly payments of the credit.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Saving Americans from Vehicle Energy Costs Act
Latest action (Mar 30, 2022): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 30, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.