Energy Burden Tax Credit Act
Congress Proposes Tax Credit to Offset High Home Heating and Cooling Costs for Many Households
Legislative Progress
Key Points
- Creates a new federal tax credit to help people who spend a big share of their income on home heating or cooling.
- Credit equals 75% of eligible heating/cooling fuel or electricity costs that are above 3% of your income (after excluding costs covered by government help).
- Limits the credit to $1,500 per person, or $3,000 for married couples filing jointly.
- Only available if your income is $75,000 or less ($150,000 or less for joint filers).
- Would apply for tax years starting after Dec. 31, 2024, and would end after the 2027 tax year.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Referred to the House Committee on Ways and Means.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articles
Reps. Pappas, Lawler Propose Bipartisan New Energy Tax Credit for Working Families
Covers the Energy Burden Tax Credit proposal: refundable credit tied to energy spending above 3% of income, with $1,500/$3,000 caps and $75k/$150k income limits.
Pappas proposes bipartisan new energy tax credit for working families
Syndicated story on the Energy Burden Tax Credit Act describing eligibility thresholds, credit caps, and how it would offset heating/cooling costs for households.
Source Information
Document Type
Congressional Bill
Official Title
Energy Burden Tax Credit Act
Data Sources
Sponsor
Cosponsors
(4)Analysis generated by AI. Always verify with official sources.