UPLIFT Act

Direct Financial Credit for Energy Costs: Taxpayers can receive a credit against their taxes for expenditures made on electricity, natural gas, or propane used in their principal residence (Section 2(a) and Section 2(d)).

Protection of Benefits for Low-Income Individuals: For any Federal means-tested program, the refund received from this credit will not be treated as income or counted toward resources for the month it is received and the following month (Section 2(f)(2)).

Coordination with Existing Help: Expenditures are still treated as residential energy expenditures even if they are reimbursed or paid for by Federal, State, local, or Tribal energy assistance programs (Section 2(f)(1)).

Income Limits and Phaseout: The amount of the credit is reduced as a taxpayer's modified adjusted gross income increases above $75,000 for individuals or $150,000 for joint returns or heads of household (Section 2(e)(1)).

Credit Caps: The credit is limited to a maximum of $1,200 for individuals and $2,400 for joint returns or heads of household (Section 2(b)).

Conditional Eligibility: The credit is only available during specific taxable years where the average PCE exceeds 102 percent of the average of the 12-month period immediately preceding it (Section 2(c)(1)).