H.R. 2599: Preventing Outages With Electricity Reinforcement Act of 2025
This bill, titled the Preventing Outages With Electricity Reinforcement Act of 2025 or the POWER Act of 2025, proposes a new tax credit policy focusing on emergency generators to address power outages. Here are the key components of the bill:
Emergency Generator Tax Credit
The bill establishes a tax credit for individuals who purchase emergency generators for their primary homes. Specifically:
- The tax credit amount is capped at $500 for qualified individuals.
- To be considered a qualified individual, a taxpayer must meet two conditions:
- They must live in a region that has experienced two or more major disasters in the past five years.
- They must have received individual assistance under the Stafford Disaster Relief and Emergency Assistance Act during one of these events.
Income Limitations
The amount of the credit can be reduced based on the taxpayer's income:
- The credit will decrease by $100 for every $25,000 that a taxpayer's modified adjusted gross income exceeds:
- $300,000 for joint filers, or
- $150,000 for single filers or others.
The modified adjusted gross income is defined as the adjusted gross income of the taxpayer for that year, with certain excluded amounts added back in.
Definitions
The bill also clarifies specific terms used within it:
- Covered Major Disaster: Refers to a major disaster declared under the Stafford Act that is not related to public health.
- Principal Residence: Defined in the same manner as used in Section 121 of the tax code, referring to the main home of the taxpayer.
Termination of Credit
The credit will only be available for generators purchased within two years after the enactment of the bill.
Effective Date
The provisions of the bill will apply to generators purchased after the bill becomes law.
Relevant Companies
- GE (General Electric) - As a producer of generators, GE may see an increase in sales from consumers looking to take advantage of the new tax credit for emergency generators.
- WHR (Whirlpool Corporation) - Whirlpool manufactures various home appliances, and its sale of backup power systems may be positively impacted.
- AXP (American Express Co.) - Though not a direct seller of generators, American Express could see more credit card transactions for generator purchases, benefiting from increased consumer spending in this category.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
24 bill sponsors
-
TrackWesley Hunt
Sponsor
-
TrackBrian Babin
Co-Sponsor
-
TrackKat Cammack
Co-Sponsor
-
TrackJohn R. Carter
Co-Sponsor
-
TrackMario Diaz-Balart
Co-Sponsor
-
TrackByron Donalds
Co-Sponsor
-
TrackJake Ellzey
Co-Sponsor
-
TrackRussell Fry
Co-Sponsor
-
TrackLance Gooden
Co-Sponsor
-
TrackPat Harrigan
Co-Sponsor
-
TrackDarrell Issa
Co-Sponsor
-
TrackJennifer Kiggans
Co-Sponsor
-
TrackKevin Kiley
Co-Sponsor
-
TrackLaurel M. Lee
Co-Sponsor
-
TrackAnna Paulina Luna
Co-Sponsor
-
TrackMorgan Luttrell
Co-Sponsor
-
TrackNancy Mace
Co-Sponsor
-
TrackCory Mills
Co-Sponsor
-
TrackTroy E. Nehls
Co-Sponsor
-
TrackJohn H. Rutherford
Co-Sponsor
-
TrackMaria Elvira Salazar
Co-Sponsor
-
TrackWilliam R. Timmons IV
Co-Sponsor
-
TrackRandy K. Weber, Sr.
Co-Sponsor
-
TrackRoger Williams
Co-Sponsor
Actions
2 actions
| Date | Action |
|---|---|
| Apr. 02, 2025 | Introduced in House |
| Apr. 02, 2025 | Referred to the House Committee on Ways and Means. |
Corporate Lobbying
0 companies lobbying
None found.
* Note that there can be significant delays in lobbying disclosures, and our data may be incomplete.
