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S 2600 117th Congress Senate Taxation

Refund to Rainy Day Savings Act

Introduced: August 4, 2021 Introduced by: Booker, Cory A. Democratic · New Jersey See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 4, 2021
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Aug 4, 2021
Introduced in Senate
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 Plain-English summary Congressional Research Service

Refund to Rainy Day Savings Act

This bill directs the Internal Revenue Service (IRS) to establish and implement the Refund to Rainy Day Savings program (i.e., a program to provide for unexpected expenses) to allow taxpayers to deposit 20% of their income tax refunds into the savings program. The bill sets forth rules for investments in and disbursement from the savings program.

The bill also reauthorizes the Assets for Independence Act for FY2021-FY2025. The IRS may make grants to qualified entities to conduct AFI innovation projects.

The bill directs the Department of Health and Human Services to establish a three-year matched savings account pilot program to encourage savings by participants in the savings program.

What's happening now August 4, 2021

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

 Related & companion bills 1
  • HR 4986 Related bill Refund to Rainy Day Savings Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Young, Todd
Indiana · Aug 4, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2600: Refund to Rainy Day Savings Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-2600/
MLA
"S. 2600: Refund to Rainy Day Savings Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-2600/.
Bluebook (legal)
S. 2600, 117th Cong. (2026), https://openamerica.io/bill/117-S-2600/.
Markdown link
[S. 2600: Refund to Rainy Day Savings Act](https://openamerica.io/bill/117-S-2600/)
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