A bill to amend the Internal Revenue Code of 1986 to provide monthly rebates to every individual residing in the United States during the COVID-19 pandemic.
About This Bill
Committee
Latest Action · May 20, 2020
Read twice and referred to the Committee on Finance.
Monthly Economic Crisis Support Act
This bill provides for a monthly rebate to individuals and their dependents for the period beginning March 2020, and ending on the third month after the date on which the Department of Health and Human Services determines that the COVID-19 (i.e., coronavirus disease 2019) public health emergency has ended. The rebate is $2,000 per individual ($4,000 for individuals filing a joint tax return) plus $2,000 for each dependent of such individual, not exceeding three dependents. The rebate is reduced for individuals whose adjusted gross income exceeds specified levels. Rebates are not subject to garnishment or set offs by financial institutions.
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