HR 7400 118th Congress House Taxation

Inflation Relief Act

Introduced: February 15, 2024 Introduced by: Vasquez, Gabe Democratic · New Mexico See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 15, 2024

Referred to the House Committee on Ways and Means.

Feb 15, 2024

Introduced in House

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Plain-English summary Congressional Research Service

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.

What's happening now February 15, 2024

Referred to the House Committee on Ways and Means.

Bill text 1 version

Introduced in House Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 1

Ways and Means Committee
House of Representatives

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APA

U.S. Congress. (2026). H.R. 7400: Inflation Relief Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-7400/

MLA

"H.R. 7400: Inflation Relief Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-7400/.

Bluebook (legal)

H.R. 7400, 118th Cong. (2026), https://openamerica.io/bill/118-HR-7400/.

Markdown link

[H.R. 7400: Inflation Relief Act](https://openamerica.io/bill/118-HR-7400/)