Exclusion for Employer Payments of Student Loans |
Exclusion for employer-paid student loans was temporary, expiring after 2025. |
Exclusion is made permanent. |
Encourages employers to offer student loan repayment benefits as a tax-free fringe benefit, enhancing recruitment and retention. |
Enhancement of Employer- Provided Child Care Credit |
Credit was 25 % of expenses, up to $ 150,000. |
Credit increased to 40 %( 50 % for small businesses), up to $ 500,000($ 600,000 for small businesses), with inflation adjustments. |
Increases the value and availability of the credit, incentivizing businesses to provide or subsidize child care for employees. |
Intangible Drilling and Development Costs for Book Minimum Tax |
Book minimum tax did not allow deduction for IDCs. |
Allows deduction for IDCs for book minimum tax purposes. |
Businesses in oil and gas can deduct IDCs for book minimum tax, reducing their minimum tax liability and improving after-tax cash flow. |
Expansion of Qualifying Income for Publicly Traded Partnerships( PTPs) |
Qualifying income for PTPs limited to certain activities. |
Expands qualifying income to include hydrogen, carbon capture, advanced nuclear, hydropower, and geothermal. |
PTPs in these sectors can now qualify for favorable tax treatment, potentially increasing investment and growth in these energy industries. |
Reduction of Transfer and Manufacturing Taxes for Certain Firearms |
$ 200 tax applied to all NFA firearms. |
$ 0 tax for non-machinegun / destructive device firearms; $ 200 remains for machineguns / destructive devices. |
Reduces tax burden for manufacturers and sellers of certain firearms. |