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Tax Credit for Rent Payments
Recent Bills/Tax Credit for Rent Payments

Tax Credit for Rent Payments

IntroducedN/A
Introduced1 year ago
Intro
Senate
House
Pres
Read twice and referred to the Committee on Finance.
More:Recently Introduced BillsHousingSenate Bills
Why This Matters

This bill allows renters to receive a tax credit if they pay a large portion of their income on rent. It aims to ease the financial burden on those struggling to afford housing.

If you earn under $100,000 and pay more than 30% of your income on rent, you may qualify for a tax credit starting in 2025.
Who this affects
low- to moderate-income renters
What changes is this bill making?
  1. 1This bill provides a tax credit for renters who pay more than 30% of their income on rent.
  2. 2The credit amount decreases as income rises, with lower-income individuals receiving more support.
  3. 3Renters in high-cost areas can receive additional benefits based on local rent prices.
  4. 4The bill allows for advance monthly payments of the credit to help renters manage cash flow.
Read the detailed summary

Time of Service Act This bill adjusts the time limitation on the use of a veteran's educational assistance entitlement under the Post-9/11 GI Bill. Specifically, veterans' entitlements shall not expire for those who were discharged or released from active duty on or after January 1, 2001.

Bill Progress1 of 4
Bills must pass the House, Senate, and be signed by the President to become law.
Intro
Senate
House
Pres
IntroducedCurrentFeb 4, 2025

Read twice and referred to the Committee on Finance.

Sponsors
See all 2 sponsors
Senate
House
President

The President

Donald Trump
President
Awaiting Vote
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