This bill, known as the UPLIFT Act, creates a new refundable tax credit for residential energy expenditures within the Internal Revenue Code. This credit aims to provide financial relief to individuals for the cost of electricity, natural gas, or propane used in their principal residence. The credit is activated for any taxable year where the average Personal Consumption Expenditures (PCE) for the preceding 12 months has increased by more than 2% compared to the prior year, indicating a significant rise in consumer prices. Taxpayers can claim a credit equal to their residential energy expenditures, up to a maximum of $1,200 for individuals or $2,400 for joint filers or heads of household. Eligibility for the full credit is subject to a Modified Adjusted Gross Income (MAGI) phaseout , beginning at $75,000 for individuals and $150,000 for joint filers. Importantly, the bill specifies that expenditures reimbursed by energy assistance programs still qualify, and any refunds received from this credit will not be counted as income or resources for federal means-tested programs for a limited period.