H.R.2320 - Mobility Means Freedom Tax Credit Act (119th Congress)
Summary
H.R.2320, the Mobility Means Freedom Tax Credit Act, proposes to amend the Internal Revenue Code of 1986 to establish a refundable tax credit for expenses related to mobility devices. The bill defines qualified mobility devices and sets a limit of three devices per taxpayer per year. It also prevents double benefits, ensuring that expenses used for this credit cannot be used for other deductions or credits.
Expected Effects
The bill aims to reduce the financial burden on individuals who require mobility devices. This would be achieved by providing a tax credit equal to 50% of the cost of these devices. The Act will also require amendments to existing sections of the Internal Revenue Code to accommodate the new credit.
Potential Benefits
- Reduces the financial burden for individuals needing mobility devices.
- Increases accessibility to essential mobility equipment.
- Provides direct financial relief through a refundable tax credit.
- May improve the quality of life for individuals with mobility limitations.
- Encourages the use of necessary mobility aids by lowering the cost.
Potential Disadvantages
- Potential for increased government spending due to the refundable tax credit.
- Complexity added to the tax code with a new credit and associated regulations.
- Risk of fraudulent claims for the tax credit.
- Limitation of three devices per year may not be sufficient for all individuals.
- May disproportionately benefit higher-income individuals who can afford the initial purchase.
Most Disadvantaged Areas:
Constitutional Alignment
The bill aligns with the general welfare clause of the Constitution, as it aims to improve the lives of individuals with mobility limitations. Specifically, the preamble states the goal to "promote the general Welfare". The power to tax and spend for the general welfare is an implied power granted to Congress. The bill does not appear to infringe upon any specific constitutional rights or protections.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).