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SUPPORT Act of 2021
12/31/2022, 5:03 AM
Summary of Bill HR 4895
One key aspect of the SUPPORT Act is its focus on expanding access to treatment and recovery services for individuals struggling with substance abuse. The bill includes provisions to increase funding for programs that provide treatment and support services, as well as initiatives to improve coordination between different agencies and organizations involved in addressing substance abuse.
Additionally, the SUPPORT Act includes measures to enhance prevention efforts, such as increasing education and awareness about the risks of substance abuse and promoting the use of evidence-based prevention strategies. The bill also seeks to improve the availability of resources for individuals and families affected by substance abuse, including support for children impacted by parental substance abuse. Furthermore, the SUPPORT Act includes provisions to address the opioid crisis, including measures to increase access to medication-assisted treatment and support for individuals struggling with opioid addiction. The bill also includes initiatives to improve the monitoring and regulation of prescription opioids, in an effort to prevent misuse and abuse. Overall, the SUPPORT Act of 2021 is a comprehensive piece of legislation aimed at addressing substance abuse and addiction in the United States. By focusing on expanding access to treatment and recovery services, enhancing prevention efforts, and addressing the opioid crisis, the bill seeks to improve outcomes for individuals and families affected by substance abuse.
Congressional Summary of HR 4895
Sending Unconditional Payments to People Overcoming Resistances to Triumph Act of 2021 or the SUPPORT Act of 2021
This bill establishes a guaranteed income pilot program and tax credit and provides for bank accounts supported by Federal Reserve banks.
The bill establishes the Office of Guaranteed Income Programs to carry out a five-year guaranteed income pilot program. The pilot program must provide grants through local governments and community development financial institutions for periodic cash payments to eligible individuals. An eligible program must provide cash payments that are not less than $50 per individual and are made on a biweekly, monthly, or quarterly basis.
Additionally, the bill establishes the Guaranteed Income Tax Credit, a refundable income tax credit for individual taxpayers equal to $14,400 plus $600 for each dependent. The amount is reduced for individuals whose adjusted gross income exceeds specified levels. A taxpayer may elect to receive this credit in advance in equal amounts throughout the year.
The bill also requires Federal Reserve member banks to provide bank accounts (FedAccounts) to residents and to businesses domiciled in the United States for purposes of holding digital dollar balances. These accounts must provide specified banking services, including debit cards, online banking, automatic bill pay, and automatic teller machines at U.S. postal facilities. These accounts may not charge fees or have balance requirements and must provide a specified interest rate.
