Bill · H.R. 10367· House(119-HR-10367)
Working Americans Affordability Tax Credit Act
- Introduced
- 9/14/2026
- Last activity
- 9/14/2026 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Greg Landsman
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill is known as the Working Americans Affordability Tax Credit Act. It creates a new monthly tax credit for working Americans. It also sets up rules to eliminate tax deferrals for billionaires and high-net-worth individuals. The legislation applies specific taxes and reporting requirements to certain pass-through entities and trusts. Additionally, it changes tax rules surrounding deferred compensation, life insurance contracts, and specific investment exclusions.
Yes· 3 of 17
Does this raise taxes on the highest earners?+9
The bill eliminates tax deferrals for billionaires and high-net-worth individuals, forcing them to recognize gains and pay taxes on assets sooner.
Is this likely to lift people out of poverty?+7
The establishment of a monthly affordability tax credit directly benefits working individuals and helps alleviate financial pressure on low- and middle-income households.
Does this reduce what the federal government owes?+6
The legislation raises revenue by eliminating tax deferrals and loopholes for high-net-worth individuals and billionaires.
The opposite· 3 of 5
Would the very wealthiest people be better off under this?-10
Ultra-high-net-worth individuals and billionaires face strict mark-to-market taxation and the elimination of major tax loopholes.
Would billionaires be better off under this?-10
The legislation is specifically designed to eliminate tax loopholes and deferrals utilized by billionaires.
Would people with substantial wealth be better off under this?-9
The bill explicitly targets high-net-worth individuals by eliminating tax deferrals and increasing taxes on deferred compensation and trusts.
Who it would affect, and how
Potential Positive Impacts for People
- Affordability Tax Credit for Workers: Section 101 establishes a tax credit of $4,200 for eligible individuals, or $8,400 for joint returns. This is designed to benefit working citizens and nationals, though it phases out based on modified adjusted gross income.
Potential Negative Impacts for People
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Elimination of Tax Deferrals for High-Net-Worth Individuals: Section 201 eliminates tax deferrals for applicable taxpayers who meet certain high income or asset thresholds. This forces them to recognize gains and pay taxes on tradable and nontradable assets sooner.
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Stricter Rules on Trusts and Estates: Section 313 removes certain tax flexibilities for applicable trusts and estates. This includes changes to how in-kind distributions and loans are taxed under Section 643.
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Changes to Deferred Compensation Taxes: Section 321 increases tax liabilities for applicable taxpayers who receive applicable deferred compensation or severance pay, adding interest charges for deferred periods.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Increases Wealthy Taxes+9Reduces National Debt+6Improves Economic Growth+2Increases Job Creation+2Reduces Small Business Taxes+2Improves Small Business Support+1
- Demographic And Interest Groups
- Good For Low Income Households+6Good For Middle Class Households+6Good For Middle Aged+3Good For Young Adults+3Good For Immigrants+2Good For Seniors+2Good For Students+2Good For Veterans+2Good For Billionaires-10Good For Ultra High Net Worth Individuals-10Good For High Net Worth Individuals-9Good For High Income Households-8Good For Business Owners-4
- Governance And Ideology
- Improves Government Transparency+4Increases Federal Power+4
- Social Issues And Justice
- Improves Poverty Reduction+7
- 9/14/2026
- Referred to the House Committee on Ways and Means.
- Introduced in House
2 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.