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Upward Mobility Enhancement Act

12/30/2022, 1:34 PM

Summary of Bill HR 4428

Bill 117 HR 4428, also known as the Upward Mobility Enhancement Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to provide support and resources to individuals and families who are seeking to improve their economic status and achieve upward mobility.

One key provision of the bill is the establishment of a grant program that would provide funding to organizations and institutions that offer job training, education, and other services to low-income individuals. These grants would be aimed at helping people acquire the skills and knowledge they need to secure better-paying jobs and improve their financial situation.

Additionally, the Upward Mobility Enhancement Act includes measures to expand access to affordable housing and healthcare for low-income individuals and families. This includes provisions to increase funding for affordable housing programs and to improve access to healthcare services in underserved communities. Overall, the Upward Mobility Enhancement Act is focused on addressing the barriers that prevent individuals from moving up the economic ladder and achieving financial stability. By providing support for job training, education, affordable housing, and healthcare, this bill aims to create opportunities for individuals to improve their economic status and build a better future for themselves and their families.

Congressional Summary of HR 4428

Upward Mobility Enhancement Act

This bill increases the amount of the tax exclusion for employer-paid educational assistance programs. It also expands the exclusion to include amounts paid for education-related tools and technology (e.g., hand tools, computers, software, licensure fees).

Current Status of Bill HR 4428

Bill HR 4428 is currently in the status of Bill Introduced since July 13, 2021. Bill HR 4428 was introduced during Congress 117 and was introduced to the House on July 13, 2021.  Bill HR 4428's most recent activity was Referred to the House Committee on Ways and Means. as of July 13, 2021

Bipartisan Support of Bill HR 4428

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
10
Democrat Cosponsors
2
Republican Cosponsors
8
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 4428

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 4428

Upward Mobility Enhancement Act
To amend the Internal Revenue Code of 1986 to increase the exclusion for educational assistance programs and to allow the exclusion with respect to education-related tools and technology.
Upward Mobility Enhancement Act

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