Family and Community Inflation Relief Act of 2022

United States117th CongressS-4589Senate
Updated: Jul 21, 2022

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.

Bill texts

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Introduced (Senate)View official text

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Timeline

  1. Read twice and referred to the Committee on Finance.

    Senate

  2. Introduced in Senate

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