Energy Burden Tax Credit Act

This bill would create a federal income tax credit for individuals who spend more than 3 percent of their income on fuel or electricity to heat or cool their main home. The credit would equal 75 percent of the heating and cooling costs above that 3 percent level, not counting amounts paid by government assistance programs. The credit would be capped at $1,500, or $3,000 for married couples filing jointly. People with modified adjusted gross income over $75,000, or $150,000 for joint filers, could not claim it. The credit would apply to tax years beginning after December 31, 2024, and end after tax years beginning in 2027.

Full text and official record on Congress.gov

Sponsors

• Chris Pappas Democrat sponsor
• 5 cosponsors