About the Building Our Opportunities to Survive and Thrive Act of 2019
We did some follow up regarding the BOOST Act, or as it is formally known, Building Our Opportunities to Survive and Thrive Act of 2019, or simply: House Resolution 3590. The BOOST Act was introduced into Congress on June 27, 2019 by Representative Rashida Tlaib and twelve supporters or co-sponsors. It was referred to the Committee on Ways and Means (rather than economic development or similar) which in this case made finding further information on it difficult, but we got it.
- Will people need to file an income tax return even if they would not otherwise be required to file? Yes.
- There will be an option to receive monthly payments in advance based on the yearly expected amount, evenly divided or less if people choose (leaving some in to keep a savings account or the traditional “tax return”).
- There will be grants to help people with tax return filing.
However, an algorithm predicts the resolution has a 3 per cent chance of passing. Regardless of the prediction, it would be miraculous if it passed anytime in 2019 or 2020, but such events do happen (miracles that is).