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Family and Community Inflation Relief Act: Tax Adjustments

This act aims to adjust various tax credits and deductions for inflation, potentially increasing the amounts citizens can claim. These changes affect child tax credits, dependent care expenses, education-related credits, and student loan interest deductions. This ensures the real value of these tax benefits is maintained despite rising prices.
Key points
Increased Child Tax Credits: Child tax credit amounts will be automatically adjusted for inflation, preventing their real value from decreasing.
Support for Dependent Care: Limits on expenses for child and dependent care, eligible for tax deductions, will also be indexed for inflation.
Education Benefits: Tax credits for education costs (e.g., American Opportunity and Lifetime Learning Credits) and student loan interest deductions will be adjusted for inflation, potentially reducing financial burdens related to schooling.
Charitable Mileage Rate: The standard mileage rate for charitable contributions will be set no lower than the medical mileage rate, potentially increasing deductions for those helping others.
State and Local Tax (SALT) Deduction Extension: The limitation on state and local tax deductions will be extended for another year, until January 1, 2027.
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Expired
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Additional Information
Print number: 117_S_4589
Sponsor: Sen. Grassley, Chuck [R-IA]
Process start date: 2022-07-21
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Family and Community Inflation Relief Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4589.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-07-21.

What are the main provisions?

Key points include:

  • Increased Child Tax Credits: Child tax credit amounts will be automatically adjusted for inflation, preventing their real value from decreasing.
  • Support for Dependent Care: Limits on expenses for child and dependent care, eligible for tax deductions, will also be indexed for inflation.
  • Education Benefits: Tax credits for education costs (e.g., American Opportunity and Lifetime Learning Credits) and student loan interest deductions will be adjusted for inflation, potentially reducing financial burdens related to schooling.
  • Charitable Mileage Rate: The standard mileage rate for charitable contributions will be set no lower than the medical mileage rate, potentially increasing deductions for those helping others.
  • State and Local Tax (SALT) Deduction Extension: The limitation on state and local tax deductions will be extended for another year, until January 1, 2027.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Grassley, Chuck [R-IA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Family Education