HR 7295
117th Congress
House
Taxation
Saving Americans from Vehicle Energy Costs Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 30, 2022
Referred to the House Committee on Ways and Means.
Mar 30, 2022
Introduced in House
Plain-English summary
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1