,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fbij  ,,in ,,the ,,house ,,of  
,,representatives  ,march #ai1 #bjbj,ms4
 ,omar 7for herself and ,ms4 ,norton7   
introduced the following bill2 which was
 referred to the ,committee on ,ways and
 ,means  ,a ,,bill  ,to provide economic
 stimulus through advanced refundable   
tax credits to all individuals during   
the ,,covid-#ai crisis1 and for other   
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,reinvestment to    
,ensure a ,livable ,income for ,every   
,family ,act of #bjbj or the ,,relief   
,act of #bjbj4  #b4 ,sense of ,congress 
,it is the sense of ,congress that--    
7#a7 ,,covid-#ai has contributed to     
major disruptions to the ,united ,states
 society and economy1 putting the health
 and financial well-being of many       
,americans at risk2  7#b7 direct        
economic stimulus such as advanced      
refundable tax credits1 referred to as  
universal emergency rebates in this     
,act1 can help bring much needed relief 

to people who need short-term payments  
now in order to get by during this      
crisis2  7#c7 these direct payments     
should supplement the immediate1        
substantial expansion of existing social
 insurance programs including but not   
limited to unemployment insurance1      
supplemental nutrition assistance       
program1 ,medicaid1 as well as relief   
for small businesses and other emergency
 economic measures2  7#d7 as soon as    
possible and not later than two weeks   
after the date of the enactment of this 
,act1 the ,secretary of the ,treasury1  
in consultation with the ,commissioner  
of the ,social ,security ,administration
 and the ,commissioner of the ,internal 
,revenue ,service1 must establish a     
program for sending direct emergency    
rebates1 in the form of electronic and  
paper payments1 on a monthly basis1 for 
every individual residing in the ,united
 ,states and its territories2  7#e7     
every qualifying adult over the age of  
#ah would receive #a1jjj and every      

qualifying dependent child under the age
 of #ah would receive #ejj2  7#f7 only  
the top #a percent of income earners    
would have post taxes on these benefits 
in the next filing season and the rest  
of ,americans would not face any tax    
penalties or extra costs1 and so would  
be held harmless for any overpayments or
 other delivery errors2 and  7#g7 these 
advanced refundable tax credits would be
 transferred every month until the      
,,covid-#ai pandemic is formally        
declared and certified as ended from the
 ,secretary of the ,treasury and the    
,secretary of ,health and ,human        
,services4  #c4 ,establishment of #bjbj 
universal emergency rebates for         
individuals  7a7 ,in general ,section   
#fdbi of the ,internal ,revenue ,code of
 #aihf is amended to read as follows3   
#fdbi4 #bjbj ,universal ,rebates for    
,individuals  7a7 ,in general ,in the   
case of an eligible taxpayer1 there     
shall be allowed as a credit against tax
 imposed by subtitle ,a for the first   

taxable year beginning in #bjbj an      
amount equal to the lesser of-- 7#a7 net
 income tax liability1 or  7#b7 #a1jjj  
7#b1jjj in the case of a joint return74 
7b7 ,special rules  7#a7 ,in general ,in
 the case of an eligible taxpayer       
described in paragraph 7#b7-- 7,a7 the  
amount determined under subsection 7a7  
shall not be less than #a1jjj 7#b1jjj in
 the case of a joint return71 and  7,b7 
the amount determined under subsection  
7a7 7after application of subparagraph  
7,a77 shall be increased by the product 
of #ejj multiplied by the number of     
qualifying children 7within the meaning 
of section #bd7;c77 of the taxpayer4    
7#b7 ,eligible taxpayer described ,a    
taxpayer is described in this paragraph 
if the taxpayer-- 7,a7 is at least #ah  
years of age as of ,december #ca1 #bjbj1
  7,b7 is a resident of the ,united     
,states1 or  7,c7 is not a dependent of 
another taxpayer4  7c7 ,treatment of    
credit ,the credit allowed by subsection
 7a7 shall be treated as allowed by     

subpart ,c of part ,,iv of subchapter ,a
 of chapter #a4  7d7 ,coordination with 
advance refunds of credit  7#a7 ,in     
general ,the amount of credit which     
would 7but for this paragraph7 be       
allowable under this section shall be   
reduced 7but not below zero7 by the     
aggregate refunds and credits made or   
allowed to the taxpayer under subsection
 7g74 ,any failure to so reduce the     
credit shall be treated as arising out  
of a mathematical or clerical error and 
assessed according to section           
#fbac7;b77#a74 ,taxpayers would be held 
harmless4  7#b7 ,joint returns ,in the  
case of a refund or credit made or      
allowed under subsection 7g7 with       
respect to a joint return1 half of such 
refund or credit shall be treated as    
having been made or allowed to each     
individual filing such return4  7e7     
,advance refunds and credits  7#a7 ,in  
general ,each individual who was an     
eligible individual for such            
individual's first taxable year         

beginning in #bjai shall be treated as  
having made a payment against the tax   
imposed by chapter #a for such first    
taxable year in an amount equal to the  
advance refund amount for such taxable  
year4  7#b7 ,advance refund amount ,for 
purposes of paragraph 7#a71 the advance 
refund amount is the amount that would  
have been allowed as a credit under this
 section for such first taxable year if 
this section 7other than subsection 7f7 
and this subsection7 had applied to such
 taxable year4  7#c7 ,timing of payments
 ,the ,secretary shall1 subject to the  
provisions of this title1 refund or     
credit any overpayment attributable to  
this section as rapidly as possible on a
 monthly basis and a pro rata amount for
 partial universal emergency rebate     
period in the first month of the        
implementation of this ,act4 ,no refund 
or credit shall be made or allowed under
 this subsection after the ,,covid-#ai  
outbreak is over1 as declared by the    
,secretary of the ,treasury and the     

,secretary of ,health and ,human        
,services lifting designations of       
national economic turmoil and public    
health emergency1 respectively4  7#d7   
,pro rata amounts ,the pro rata amount  
for each partial universal emergency    
rebate period shall be calculated by    
multiplying the monthly amount for a    
full universal emergency rebate that    
would be paid to the beneficiary based  
on household size for such a period by  
the percentage calculated by dividing   
the number of days of the partial       
universal emergency rebate period by the
 number of days of the month4  7#e7     
,congressional extension of payments    
,the last cycle of payments will come up
 in the following quarter after the     
,,covid-#ai pandemic is certified to be 
over by the ,secretary of the ,treasury 
and the ,secretary of ,health and ,human
 ,services4 ,congress will have until   
such quarter is done to reexamine and   
decide if there is still further        
economic need to extend these payments4 

7#f7 ,no interest ,no interest shall be 
allowed on any overpayment attributable 
to this section4  4  7b7 ,treatment of  
possessions  7#a7 ,payment to           
possessions  7,a7 ,mirror code          
possession ,the ,secretary of ,treasury 
shall make a payment to each possession 
of the ,united ,states with a mirror    
code tax system in an amount equal to   
the loss to that possession4 ,such      
amount shall be determined by the       
information provided by the ,government 
of the respective possession4  7,b7     
,other possessions ,the ,secretary of   
,treasury shall make a payment to each  
possession of the ,united ,states which 
does not have a mirror code tax system  
in an amount estimated by the ,secretary
 of the ,treasury as being equal to the 
aggregate benefits that would have been 
provided to residents of such possession
 if a mirror code tax system had been in
 effect in such possession4 ,the        
preceding sentence shall not apply with 
respect to any possession of the ,united

 ,states unless such possession has a   
plan1 which has been approved by the    
,secretary of the ,treasury1 under which
 such possession will promptly          
distribute such payment to the residents
 of such possession4  7#b7 ,coordination
 with credit allowed against ,united    
,states income taxes ,no credit shall be
 allowed against ,united ,states income 
taxes under section #fdbh of the        
,internal ,revenue ,code of #aihf 7as   
amended by this section7 to any person--
 7,a7 to whom a credit is allowed       
against taxes imposed by the possession 
by reason of the amendments made by this
 section2 or  7,b7 who is eligible for  
payment under a plan described in       
paragraph 7#a77;,b74  7#c7 ,definitions 
and special rules  7,a7 ,possession of  
the ,united ,states ,for purposes of    
this subsection1 the term possession of 
the ,united ,states includes the        
,commonwealth of ,puerto ,rico and the  
,commonwealth of the ,north ,mariana    
,islands4  7,b7 ,mirror code tax system 

,for purposes of this subsection1 the   
term mirror code system means1 with     
respect to any possession in the ,united
 ,states1 the income tax system of such 
possession if the income tax lability of
 the residents of such possession under 
such system is determined by reference  
to the income tax laws of the ,united   
,states as if such possession were the  
,united ,states4  7,c7 ,treatment of    
payments ,for purposes of section       
#acbd7;b77#b7 of title #ca1 ,united     
,states ,code1 the payments under this  
subsection shall be treated in the same 
manner as a refund due from the credit  
allowed under section #fdbh of the      
,internal ,revenue ,code of #aihf 7as   
amended by this section74  7c7 ,refunds 
disregarded in the administration of    
,federal programs and federally assisted
 programs ,any credit or refund allowed 
or made to any individual by reason of  
section #fbdh of the ,internal ,revenue 
,code of #aihf 7as amended by this      
section7 or by reason of subsection 7c7 

of this section shall not be taken into 
account as resources for the enacted    
month and the following months until    
funds are formally halted by decree from
 the ,departments of the ,treasury and  
the ,health and ,human ,services1 for   
purposes of determining eligibility of  
such individual or any other individual 
for benefits or assistance1 under any   
,federal program or under any ,state or 
local program financed in whole or in   
part with ,federal funds4  7d7          
,appropriations ,to carry out rebates   
7#a7 ,in general ,immediately upon the  
enactment of this ,act1 the following   
sums are appropriated1 out of any money 
in the ,treasury not otherwise          
appropriated1 for the fiscal year ending
 ,september #cj1 #bjbj4 7,a7 ,department
 of the ,treasury  7i7 ,for an          
additional amount for ,department of the
 ,treasury--,financial ,management      
,service--,salaries and ,expenses1      
#gf1cgj1jjj1 to remain available until  
,september #cj1 #bjba4  7ii7 ,for an    

additional amount for ,department of the
 ,treasury--,internal ,revenue          
,service--,operations ,support1         
#ahj1ahe1jjj1 to remain available until 
,september #cj1 #bjba4  7iii7 ,for an   
additional amount for ,department of the
 ,treasury--,internal ,revenue          
,service--,taxpayer ,services1          
#fe1cjj1jjj1 to remain available until  
,september #cj1 #bjba4  7,b7 ,social    
,security ,administration ,for an       
additional amount for ,social ,security 
,administration--,limitation on         
,administrative ,expenses1 #ci1jjj1jjj1 
to remain available until ,september    
#cj1 #bjba4  7#b7 ,reports ,no later    
than #ae days after enactment of this   
,act1 the ,secretary of the ,treasury   
shall submit a plan to the ,committees  
on ,appropriations of the ,house of     
,representatives and the ,senate        
detailing the expected use of the funds 
provided by paragraph 7#a77;,a74        
,beginning #ij days after enactment of  
this ,act1 the ,secretary of the        

,treasury shall submit a quarterly      
report to the ,committees on            
,appropriations of the ,house of        
,representatives and the ,senate        
detailing the actual expenditure of     
funds provided in paragraph 7#a77;,a7   
and the expected expenditure of such    
funds in the subsequent quarter4  #d4   
,additional application processes ,the  
,secretary of the ,treasury shall       
establish an expedited process by which 
individuals may provide necessary       
information to apply for and streamline 
access to temporary payments for        
universal emergency rebates outside the 
annual tax return process utilizing--   
7#a7 information from the beneficiary's 
most recent tax return if the           
beneficiary has filed previously and    
such return is for #bjah or #bjai2 and  
7#b7 any additional or alternative      
information submission deemed necessary 
by the ,secretary of the ,treasury to   
facilitate application and prompt       
delivery of the universal emergency     

rebates4  #e4 ,treatment of universal   
emergency rebates for income tax        
purposes ,notwithstanding any other     
provision of law1 no amount received as 
a universal emergency rebate shall be   
treated as income for the purpose of    
calculating ,federal1 ,state1 or local  
tax liability4  #f4 ,post-taxes on      
high-income earners  7a7 ,in general    
,there is hereby imposed a tax on #bjbj 
,universal ,emergency ,rebates for top  
income earners for tax year #bjbj equal 
to #ajj percent of the applicable       
amount4 7#a7 ,applicable amount ,the    
term applicable amount shall be lesser  
of-- 7,a7 the amount paid to a taxpayer 
under section #c2 or  7,b7 #e percent of
 the amount by which the taxpayer's     
adjusted gross income exceeds the       
threshold amount4  7#b7 ,threshold      
amount ,the term threshold amount shall 
be-- 7,a7 #ejj1jjj in the case of a     
taxpayer making a joint return under    
section #fajc or a surviving spouse 7as 
defined in section #b7;a772 or  7,b7    

#bej1jjj in the case of a married       
taxpayer 7as defined in section #ggjc7  
filing a separate return  the dollar    
amount under 7a74  7b7 ,tax mechanism   
,the ,secretary of the ,treasury1 in    
consultation with the ,commissioner of  
the ,internal ,revenue ,service1 shall  
establish a system to record1 collect1  
and notify top #a-percent income earners
 of taxes needing to be paid on their   
emergency rebates4  #g4 ,reports        
regarding long-term economic resiliency 
tools ,not later than #cfe days after   
the date of enactment of this ,act1 and 
annually thereafter1 the ,director of   
the ,congressional ,budget ,office1 in  
consultation with the ,secretary of     
,treasury and ,chair of the ,federal    
,reserve1 shall submit to ,congress a   
report on how the ,united ,states       
,government could establish and         
implement alternative fiscal stimulus   
and economic stabilization policies1    
such as guaranteed income1 to improve   
readiness for future extreme downturn   

caused by depressions1 pandemics1 and   
climate change catastrophes4