Home/All Topics/Impact Legislative and Policy Analysis Section 70104: Extension and enhancement of increased child tax credit Executive Summary Section 70104 permanently extends and modifies the expanded federal child tax credit rules under Internal Revenue Code section 24. It raises the maximum child tax credit from $2,000 to $2,200 per qualifying child for taxable years beginning…

Home/All Topics/Impact Legislative and Policy Analysis Section 70103: Termination of deduction for personal exemptions other than temporary senior deduction Executive Summary Section 70103 permanently ends the revived personal-exemption deduction that would otherwise have returned after the Tax Cuts and Jobs Act suspension period. It does this by making the Internal Revenue Code’s personal exemption amount…

Home/All Topics/Impact Legislative and Policy Analysis Section 70102: Extension and enhancement of increased standard deduction Executive Summary Section 70102 permanently extends the larger standard deduction structure first enacted by the 2017 Tax Cuts and Jobs Act and increases the statutory base amounts beginning with taxable years after December 31, 2024.[1] In practical terms, it raises…

Home/All Topics/Impact Legislative and Policy Analysis Section 70101: Extension and enhancement of reduced rates Executive Summary Section 70101 makes permanent the reduced individual income tax rate structure enacted by the Tax Cuts and Jobs Act and otherwise scheduled to expire after 2025. It preserves the 10 percent, 12 percent, 22 percent, 24 percent, 32 percent,…

Home/All Topics/Impact Legislative and Policy Analysis Section 70001: References to the Internal Revenue Code of 1986, etc Executive Summary Section 70001 is a technical rule for Title VII of Public Law 119-21. It does two things. First, it says that when Title VII amends or repeals a “section or other provision,” that reference is treated…

Home/All Topics/Impact Legislative and Policy Analysis Section 60026: Project sponsor opt-in fees for environmental reviews Executive Summary Section 60026 amends the National Environmental Policy Act of 1969 by adding a new section 112 titled “Project Sponsor Opt-In Fees for Environmental Reviews.” It creates a voluntary, sponsor-paid fast-track process for environmental assessments and environmental impact statements.[1]…

Home/All Topics/Impact Legislative and Policy Analysis Section 60025: John F. Kennedy Center for the Performing Arts Executive Summary Section 60025 provides a large direct federal appropriation for the John F. Kennedy Center for the Performing Arts in Washington, D.C. It appropriates $256.657 million for fiscal year 2025, available through September 30, 2029, for “necessary expenses”…

Home/All Topics/Impact Legislative and Policy Analysis Section 60024: Rescission of low-carbon transportation materials grants Executive Summary Section 60024 rescinds the unobligated balances of funding for the Low-Carbon Transportation Materials Grants program under 23 U.S.C. 179.[1] That program was created by the Inflation Reduction Act with $2 billion in fiscal year 2022 General Fund budget authority,…

Home/All Topics/Impact Legislative and Policy Analysis Section 60023: Rescission of environmental review implementation funds Executive Summary Section 60023 rescinds unobligated balances from the Inflation Reduction Act environmental review implementation funding program codified at 23 U.S.C. § 178.[1] That program originally provided $100 million to the Federal Highway Administrator, available through September 30, 2026, to support…

Home/All Topics/Impact Legislative and Policy Analysis Section 60022: Rescission of funding for GSA emerging and sustainable technologies Executive Summary Section 60022 rescinds the unobligated balances of Inflation Reduction Act funding that had been made available for General Services Administration emerging and sustainable technologies.[1] The underlying Inflation Reduction Act provision, section 60504 of Public Law 117-169,…

Home/All Topics/Impact Legislative and Policy Analysis Section 60021: Rescission of funding for low-carbon materials for Federal buildings Executive Summary Section 60021 rescinds the unobligated balances of Inflation Reduction Act funding that had been made available to the General Services Administration for low-carbon materials in federal buildings.[1] The underlying Inflation Reduction Act provision, section 60503, provided…

Home/All Topics/Impact Legislative and Policy Analysis Section 60020: Rescission of funding for Federal building assistance Executive Summary Section 60020 rescinds the unobligated balances of Inflation Reduction Act funding that had been made available to carry out section 60502 of Public Law 117-169, the federal building assistance provision for converting General Services Administration facilities into high-performance…