HR 8350
No Taxes on Utility Bills Act
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Bill overview
This bill would allow taxpayers to deduct taxes and state-mandated surcharges that appear on their gas and electric utility bills from their federal income taxes. Currently, these charges are generally not deductible. The bill proposes an amendment to the Internal Revenue Code to specifically include these utility-related taxes and surcharges in the list of deductible expenses. This change would provide a potential tax benefit to consumers who pay these fees.
Key provisions
- Allows taxpayers to deduct taxes and state-mandated surcharges on utility bills.
- Specifically amends Section 164(a) of the Internal Revenue Code.
- Includes ‘taxes and State-mandated surcharges’ on gas or electric utility bills as deductible items.
- The deduction applies to taxable years beginning after the bill’s enactment.
Who is affected
- Taxpayers
- Individuals who pay gas and electric utility bills
Notable changes
- Creates a new deduction for utility-related taxes and surcharges.
- Expands the existing tax deduction to include these specific charges.
Fiscal impact
The fiscal impact of this bill is uncertain and depends on the number of taxpayers who utilize this deduction.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
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119th CONGRESS — 2d Session
H. R. 8350
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Internal Revenue Code of 1986 to allow the deduction of taxes and State-mandated surcharges included on gas or electric utility bills.
This Act may be cited as the No Taxes on Utility Bills Act
.
Section 164(a) of such section is amended by inserting (and State-mandated surcharges described in paragraph (5))
after the following taxes
.
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.