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People’s Prosperity Act
12/30/2022, 12:04 AM
Summary of Bill HR 7700
The People's Prosperity Act, also known as Bill 117 hr 7700, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to promote economic prosperity and financial security for all Americans.
One of the key provisions of the People's Prosperity Act is the establishment of a universal basic income program. This program would provide a monthly cash payment to every American citizen, regardless of their income level. The idea behind this provision is to ensure that all individuals have a basic level of financial security to meet their needs.
In addition to the universal basic income program, the People's Prosperity Act also includes measures to increase access to affordable housing, healthcare, and education. This includes funding for the construction of affordable housing units, expanding access to healthcare services, and making higher education more affordable for all Americans. Furthermore, the bill aims to create jobs and stimulate economic growth through investments in infrastructure projects and renewable energy initiatives. By investing in these areas, the People's Prosperity Act seeks to create new opportunities for employment and promote sustainable economic development. Overall, the People's Prosperity Act is a comprehensive piece of legislation that aims to address economic inequality and promote financial security for all Americans. It includes a range of provisions designed to improve access to basic necessities, create new job opportunities, and stimulate economic growth.
One of the key provisions of the People's Prosperity Act is the establishment of a universal basic income program. This program would provide a monthly cash payment to every American citizen, regardless of their income level. The idea behind this provision is to ensure that all individuals have a basic level of financial security to meet their needs.
In addition to the universal basic income program, the People's Prosperity Act also includes measures to increase access to affordable housing, healthcare, and education. This includes funding for the construction of affordable housing units, expanding access to healthcare services, and making higher education more affordable for all Americans. Furthermore, the bill aims to create jobs and stimulate economic growth through investments in infrastructure projects and renewable energy initiatives. By investing in these areas, the People's Prosperity Act seeks to create new opportunities for employment and promote sustainable economic development. Overall, the People's Prosperity Act is a comprehensive piece of legislation that aims to address economic inequality and promote financial security for all Americans. It includes a range of provisions designed to improve access to basic necessities, create new job opportunities, and stimulate economic growth.
Congressional Summary of HR 7700
People's Prosperity Act
This bill allows individual taxpayers a 2022 refundable rebate amount equal to $1,000 ($2,000 for joint returns). The rebate amount is reduced if taxpayer modified adjusted gross income exceeds a certain threshold.
To be eligible for the rebate, taxpayers must provide a Social Security account number on their tax returns. Rebate amounts are exempt from certain reductions or offsets, including garnishments.
Read the Full Bill
Current Status of Bill HR 7700
Bill HR 7700 is currently in the status of Bill Introduced since May 10, 2022. Bill HR 7700 was introduced during Congress 117 and was introduced to the House on May 10, 2022. Bill HR 7700's most recent activity was Referred to the House Committee on Ways and Means. as of May 10, 2022
Bipartisan Support of Bill HR 7700
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7700
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 7700
People’s Prosperity Act
People’s Prosperity Act
To amend the Internal Revenue Code of 1986 to provide for additional recovery rebates to taxpayers.
Comments
Sponsors and Cosponsors of HR 7700
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