- You can find a detailed one pager on the GPI Act here.
- You can find a detailed one pager on the SUPPORT Act here.
- You can read the full legislation on the GPI Act here.
- You can read the full legislation on the SUPPORT Act here.
This was a press release announcing the bill
The bill would establish the new “Office of guaranteed Income Programs”
Sending Unconditional Payments to People Overcoming Resistances to Triumph (SUPPORT) Act
- Establish a Guaranteed Income Tax Credit to pay U.S. residents over the age of 18 at least up to $1,200 per month and child dependents up to half that amount per month
- Phaseouts will start at adjusted gross income (AGI) above $75,000 for single filing taxpayers, at AGI above $150,000 for jointly filing taxpayers, and at AGI above $112,500 for heads of households
- Payments will be gradually scaled down at a rate of $5 of credit for every $100
Genuine Progress Indicator (GPI) Act
- Direct the Bureau of Economic Analysis under the Commerce Department to establish a GPI baseline for relevant agencies to use in their economic analysis.
- Instruct the Congressional Budget Office, Office of Management and Budget, Council of Economic Advisers, Federal Reserve, Joint Economic Committee, Joint Committee on Taxation, and Government Accountability office to use GPI calculations when applicable in their published annual reports to Congress.
- Require yearly reporting by Commerce and the CBO on the development/efficacy of GPI