Creates a new tax credit to help families pay for high home heating and cooling costs.
This bill would create a new tax credit to help individuals and families with the high cost of heating and cooling their homes. If passed, it would let eligible taxpayers get back 75 percent of their energy costs that go over 3 percent of their income, up to a certain amount. This means some households could see a reduction in their tax bill for energy expenses.
Currently, there is no specific federal tax credit that helps individuals or families get money back for a portion of their home energy expenses when those costs are a high percentage of their income. If this bill becomes law, eligible individuals could get a tax credit for 75 percent of their home heating and cooling costs that exceed 3 percent of their income, up to $1,500. For couples filing jointly, the credit could be up to $3,000, provided their income is below $150,000.
HR 7044 · 119th Congress · January 13, 2026 · AI Summary by gemini-2.5-flash · 10/10
Sign in to see your representatives' phone numbers