US SB3516 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on March 18 2020 - 25% progression, died in committee
Action: 2020-03-18 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Allows a new refundable tax credit for emergency family relief payments in response to COVID-19 (i.e., the coronavirus disease 2019). Specifically, the Department of the Treasury must establish a program for making emergency family relief credit payments on a monthly basis for the period prior to January 1, 2021, without respect to tax liability, for taxpayers with dependent children equal to $1,288 for a two-person household, $1,446 for a three-person household, and $1,786 for a four-person household. For households larger that four persons, the credit amount is $1,786, plus $420 for each additional household member. These credits amounts are phased out for a taxpayer with a modified adjusted gross income exceeding $50,000 ($100,000 for a joint return).

Tracking Information

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Title

Emergency Family Relief Act of 2020

Sponsors


History

DateChamberAction
2020-03-18SenateRead twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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