Bills · S 968
IN COMMITTEE· 119TH CONGRESS
Senate BillS 968Taxation
Rent Relief Act of 2025
INTRO MAR 11· LAST ACTION MAR 11
READING
6MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it directly addresses the growing crisis of housing affordability across the United States. With rent prices rising in many areas, a significant number of individuals and families find themselves spending an unsustainable portion of their income on housing, leaving less for food, healthcare, transportation, and savings.
If this bill becomes law, it would provide tangible financial relief to renters, effectively lowering their housing costs through a tax credit or monthly payments. This could prevent evictions, reduce homelessness, and improve the quality of life for millions. Without this bill, many renters would continue to face significant financial hardship due to high rents, potentially leading to increased housing insecurity and broader economic instability for vulnerable populations.
KEY PROVISIONS
5AI-extractedPROVISION 01
Establishes a refundable tax credit for individuals who pay more than 30% of their gross income towards rent for their principal residence.
This directly reduces the tax burden or provides a refund to renters burdened by high housing costs.
PROVISION 02
Calculates the credit amount based on a sliding scale where lower-income individuals receive a higher percentage of their excess rent back.
This ensures the most financial relief is directed towards those with the greatest financial need.
PROVISION 03
Limits the amount of rent that qualifies for the credit to 100% of the small area fair market rent for the specific location.
This prevents the credit from subsidizing excessively high rents and helps target relief efficiently.
PROVISION 04
Allows eligible taxpayers to receive advance monthly payments of the credit, rather than waiting for an annual tax refund.
This provides more immediate financial assistance, helping renters manage their monthly budgets more effectively.
PROVISION 05
Includes increased income thresholds for the credit in designated high-cost areas, recognizing higher living expenses.
This makes the credit accessible to more moderate-income individuals in regions where housing costs are particularly challenging.
SPONSORSHIP
1 + 0
D· Georgia
YRS IN OFFICE
5
BILLS LED
27
ACTION TIMELINE
2 EVENTSMAR 11
Introduced in Senate
MAR 11
Read twice and referred to the Committee on Finance.
BILL INFO
TypeSenate Bill
NumberS 968
Congress119th
StatusIn Committee
IntroducedMar 11, 2025
Last actionMar 11, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCE COMMITTEE · INTRODUCED MAR 11, 2025
Senate BillS 968Taxation
Rent Relief Act of 2025
INTRODUCED MAR 11, 2025· LAST ACTION MAR 11, 2025
PASSAGE CHANCES
—%
READING
6 min
COSPONSORS
0
COMPLEXITY
Moderate
