S. 4393: Middle-Class Savings and Investment Act

117th Congress · introduced 2022-06-14 · Taxation · Latest: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure. CR S2942-2943)

federal

Follow this bill, step by step

Where it came from: introduced 2022-06-14 · official record
Who proposed it: Sen. Grassley, Chuck [R-IA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure. CR S2942-2943) Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Middle-Class Savings and Investment Act

Plain summary

Middle-Class Savings and Investment Act This bill provides tax incentives for savings and investment for middle-income taxpayers. Specifically, it (1) increases the current tax bracket for capital gains and dividends; (2) allows an exclusion from gross income for up to $300 of interest income received by a taxpayer; (3) increases the threshold for the net investment tax for married couples filing jointly to $400,000, adjusted for inflation (thus eliminating the tax effect known as the marriage penalty); and (4) increases the maximum contribution amount and the rate of the saver's tax credit. As an offset to the cost of these incentives, the bill extends through 2028 the limitation on the deduction for state and local taxes.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Middle-Class Savings and Investment Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Grassley, Chuck [R-IA] · 7 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

John Barrasso (R-WY), Steve Daines (R-MT), James Lankford (R-OK), Todd Young (R-IN), Bill Cassidy (R-LA), Marsha Blackburn (R-TN), Tim Scott (R-SC)

Sponsor's campaign money: Sen. Grassley, Chuck [R-IA] reported raising $527,998 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Capital gains: The profit from selling something you own, such as stock or real estate, for more than you paid. A capital gains tax is a tax on that profit.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117s4393.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>

Record fed-us-cong117-s4393 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117