US HB3590 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 14-0)
Status: Introduced on June 27 2019 - 25% progression, died in committee
Action: 2019-06-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 27 2019 - 25% progression, died in committee
Action: 2019-06-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Creates a new refundable tax credit of $3,000 for individual taxpayers subject to an income-based phaseout and an inflation adjustment to the credit amount after 2019. It also provides for advance payments of credit amounts to taxpayers on a monthly basis and allows a disregard of credit amounts for purposes of determining eligibility for federal or state assistance programs. The bill directs the Internal Revenue Service to establish a Community Volunteer Income Tax Assistance Matching Grant Program to provide tax return preparation assistance to low-income taxpayers. The bill expresses the sense of the House of Representatives that the cost of this bill should be fully offset by (1) the repeal of the Tax Cuts and Jobs Act (except for provisions of that Act that provide relief to taxpayers with annual incomes of less than $100,000), and (2) a fee on financial institutions with consolidated assets of more than $50 billion.
Title
Building Our Opportunities to Survive and Thrive Act of 2019
Sponsors
Rep. Rashida Tlaib [D-MI] | Rep. David Cicilline [D-RI] | Rep. Steve Cohen [D-TN] | Rep. Debbie Dingell [D-MI] |
Rep. Jesus Garcia [D-IL] | Rep. Alcee Hastings [D-FL] | Rep. Sheila Jackson-Lee [D-TX] | Rep. Pramila Jayapal [D-WA] |
Rep. Barbara Lee [D-CA] | Rep. Eleanor Norton [D-DC] | Rep. Alexandria Ocasio-Cortez [D-NY] | Rep. Ayanna Pressley [D-MA] |
Rep. Mark Pocan [D-WI] | Rep. Jamie Raskin [D-MD] |
History
Date | Chamber | Action |
---|---|---|
2019-06-27 | House | Referred to the House Committee on Ways and Means. |
2019-06-27 | House | Introduced in House |
Subjects
Government information and archives
Income tax credits
Inflation and prices
Poverty and welfare assistance
Social work, volunteer service, charitable organizations
Tax administration and collection, taxpayers
Taxation
Income tax credits
Inflation and prices
Poverty and welfare assistance
Social work, volunteer service, charitable organizations
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/3590/all-info |
Text | https://www.congress.gov/116/bills/hr3590/BILLS-116hr3590ih.pdf |