Bills addressed by Finance Committee on July 12

Bills addressed by Finance Committee on July 12

The Finance Committee handled S.4507, S.4508 bills on July 12, according to the US Congress.

Bill S.4507 titled “A bill to provide incentives for States to recover fraudulently paid Federal and State unemployment compensation, and for other purposes” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Mike Crapo with Marsha Blackburn, Mike Braun, Bill Cassidy, Susan Collins, Steve Daines, Deb Fischer, John Kennedy, James Lankford, Roger Marshall, Rob Portman, James Risch, Mitt Romney, John Thune, Patrick Toomey as cosponsors.

Bill S.4508 titled “A bill to amend the Internal Revenue Code of 1986 to establish a free on-line tax preparation and filing service and programs that allow taxpayers to access third-party provided tax return information and information held by the Internal Revenue Service” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Elizabeth Warren with Tammy Baldwin, Richard Blumenthal, Cory Booker, Bob Casey, Tammy Duckworth, Dianne Feinstein, Kirsten Gillibrand, Maggie Hassan, Mazie Hirono, Timothy Kaine, Angus King, Amy Klobuchar, Patrick Leahy, Edward Markey, Jeff Merkley, Alex Padilla, Bernard Sanders, Brian Schatz, Jeanne Shaheen, Tina Smith, Debbie Stabenow, Sheldon Whitehouse as cosponsors.

The Finance Committee moves forward in some way on one bill per day.

Most bills have a hearing where those involved explain why they are for or against the bill. Roughly 8,000 bills are addressed by committees each year but only about 800 make it to the floor of Congress, according to ushistory.org.

A 2019 report from the Brookings Institute argued committees aren’t capable of delving fully into the issues they address and are forced to rely on lobbyists.

Bills Addressed by Finance Committee on July 12
Bill NameSponsorAction
A bill to provide incentives for States to recover fraudulently paid Federal and State unemployment compensation, and for other purposes.Sen. Crapo, MikeSenate
A bill to amend the Internal Revenue Code of 1986 to establish a free on-line tax preparation and filing service and programs that allow taxpayers to access third-party provided tax return information and information held by the Internal Revenue Service.Sen. Warren, ElizabethSenate