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S 4060 117th Congress Senate Taxation

Food and Fuel Family Savings Act

Introduced: April 7, 2022 Introduced by: Reed, Jack Democratic · Rhode Island 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
Apr 7, 2022
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2096)
Apr 7, 2022
Introduced in Senate
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 Plain-English summary Congressional Research Service

Food and Fuel Family Savings Act

This bill allows an individual taxpayer an inflation rebate for the first taxable year beginning in 2022. The amount of such rebate is $600 ($1,200 for joint returns), plus $600 for each of the taxpayer's dependents. The amount of the rebate is reduced for taxpayers whose adjusted gross income exceeds certain levels.

The bill imposes a 5% surcharge on individuals whose modified adjusted gross income exceeds $10 million and a 3% surcharge for incomes exceeding $25 million. It also imposes surcharges on certain high income estates and trusts.

The bill increases the maximum corporate income tax rate to 26.5% for corporate taxable income exceeding $5 million.

What's happening now April 7, 2022

Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2096)

 Related & companion bills 1
  • HR 7700 Related bill People’s Prosperity Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2
D
Merkley, Jeff
Oregon · Apr 7, 2022
 D
Whitehouse, Sheldon
Rhode Island · Apr 7, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4060: Food and Fuel Family Savings Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-4060/
MLA
"S. 4060: Food and Fuel Family Savings Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-4060/.
Bluebook (legal)
S. 4060, 117th Cong. (2026), https://openamerica.io/bill/117-S-4060/.
Markdown link
[S. 4060: Food and Fuel Family Savings Act](https://openamerica.io/bill/117-S-4060/)
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