| Bill | S 4726 |
|---|---|
| Type of Legislation | Senate Bill |
| Congress | 117 |
| Status | Archived — 117th Congress concluded |
| Source | View original on Congress.gov |
Geographic Scope
National
Description
Catch Up Our Kids Act of 2022
This bill provides tax benefits to compensate for learning losses due to school closures during the COVID-19 pandemic. The bill
- creates a new three-year learning loss tax credit of $1,200 per child that will allow parents or legal guardians to recoup actual expenses incurred for education-related activities,
- extends the employer allowance for certain tuition and education-related expenses to include educational expenses for children of employees,
- expands education savings accounts (ESAs) to include homeschool expenses for a three-year period,
- doubles the annual contribution limit for Coverdell ESAs from $2,000 to $4,000 for a three-year period,
- Exempts contributions to an ESA and a Coverdell ESA from the annual gift tax exclusion amount, and
- allows states to use unspent Elementary and Secondary School Emergency Relief (ESSER) funds to fund scholarship granting organizations.
Bill Title
Catch Up Our Kids Act of 2022
Linked Goals
Steps
- 2022-08-02: Read twice and referred to the Committee on Finance.
- 2022-08-02: Introduced in Senate
Projected Outcome
A more informed proposal or public response aligned with the Promote General Welfare goal.