S 4589
117th Congress
Senate
Taxation
Family and Community Inflation Relief Act of 2022
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 21, 2022
Read twice and referred to the Committee on Finance.
Jul 21, 2022
Introduced in Senate
Plain-English summary
Family and Community Inflation Relief Act of 2022
This bill provides for an inflation adjustment to the amount of (1) the child tax credit, (2) the tax credit for expenses for household and dependent care services, (3) the American Opportunity and Lifetime Learning tax credits, and (4) the tax deduction for interest on education loans.
The bill grants the Internal Revenue Service authority to adjust the standard mileage rate for the use of an automobile for charitable purposes (such rate may not be less than the rate used for purposes of the medical expense deduction). It also extends for one year the suspension of the tax deduction for state and local taxes.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1