# 119-hr-10367: Working Americans Affordability Tax Credit Act

119-hr-10367, Working Americans Affordability Tax Credit Act, is a 119th Congress bill sponsored by Rep. Landsman, Greg [D-OH-1] (D-OH); status introduced; PRIA reads it as touching household money (as of 2026-10-08).

- Canonical: https://policyrisk.com/legislation/119-hr-10367
- As of: 2026-10-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-10367
- Congress: 119
- Title: Working Americans Affordability Tax Credit Act
- Status: introduced
- Introduced: 2026-09-14
- Sponsor: Rep. Landsman, Greg [D-OH-1] (D-OH)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-10-08

## Summary

**Ends broad deferral for very wealthy taxpayers and forces near‑immediate tax on many asset transfers.** This bill would also create a new Affordability Tax Credit to help lower the after‑tax cost for eligible individuals.

## Provisions PRIA read

- New Affordability Tax Credit for Workers: benefit, high. If enacted, the bill would create an Affordability Tax Credit worth $4,200 per eligible individual and $8,400 for a joint return where both spouses qualify. The credit would be reduced in proportion to your modified adjusted gross income (MAGI) relative to $100,000 for single filers and $200,000 fo…
- Faster tax on prior deferrals and pay: cost, high. If enacted, applicable taxpayers would often be treated as having sold nontradable assets immediately before certain transfers, so gains that had been deferred would be recognized. The bill would add a deferral recapture charge based on interest (using the section 6621(b) rate plus 1 percentage poi…
- Higher investment tax and trust rules: cost, high. If enacted, the bill would make applicable taxpayers pay the Net Investment Income Tax without using the AGI threshold, increasing NIIT exposure. It would add new tax and reporting rules for applicable foreign trusts that can raise beneficiary tax unless the trust pays a related tax. The bill would…
- Private placement life insurance changes: cost, high. If enacted, certain private placement life insurance and annuity contracts held by applicable taxpayers would lose tax-preferred treatment. Distributions would face rules like annuity distributions and a 10% additional tax, and death benefits would not get the usual tax exclusion. Issuers and reins…
- Limits on investor tax preferences: cost, medium. If enacted, the bill would stop certain tax breaks for applicable taxpayers and applicable entities. It would disallow like-kind (1031) and some section 351 nonrecognition rules when an applicable notice is in effect. It would deny the qualified small business stock exclusion for stock acquired on…
- New reporting for big pay and owners: cost, low. If enacted, payors who make over $5,000,000 in applicable deferred compensation or severance to one person would have to file an annual return and give the recipient a statement by January 31 of the year after the payment is includible. The $5,000,000 threshold would be inflation-adjusted after 202…
- Who counts as an applicable taxpayer: mixed, high. If enacted, the bill would make someone an "applicable taxpayer" if they meet income or asset tests for each of the three prior years (for individuals: AGI over $100 million or covered assets over $1 billion, with lower figures for married separate filers). The bill would define covered assets and…

## Related bills

- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7481: Department of Homeland Security Appropriations Act, 2026
- 119-hr-7973: Momnibus Act
- 119-hr-3971: Domestic Workers Bill of Rights Act
- 119-hr-5356: National Infrastructure Bank Act of 2025

## Sources
- [119-hr-10367 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/10367)

## Related
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7481: Department of Homeland Security Appropriations Act, 2026](https://policyrisk.com/legislation/119-hr-7481)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-3971: Domestic Workers Bill of Rights Act](https://policyrisk.com/legislation/119-hr-3971)
- [119-hr-5356: National Infrastructure Bank Act of 2025](https://policyrisk.com/legislation/119-hr-5356)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-10367 (as of 2026-10-08).