Business Expenses
US Congress 116th Congress
Disaster RELIEF Act Disaster Recovery for Economies, Local Individuals, Employers, and Families Act of 2020 [HB-8314]
[Taxes ]
[Disaster Relief ]
[Small Business ]
[Economic Development ]
[Funding ]
[Grants ]
[Labor, Jobs, Employment ]
Provides tax relief measures for individual and business taxpayers in qualified disaster areas during a specified period, other than areas for which a disaster has been declared solely by reason of COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill provides employers in a disaster area a tax credit designed to retain employees by allowing a credit for 40% of their employee wages, not exceeding $6,000 for each employee. It also allows an enhanced tax deduction for personal casualty losses incurred in a disaster area.
Sponsored by: Rep. Abby Finkenauer
Introduced In House on 09/18/2020
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2020 Disasters Tax Relief Act [S.4621]
[Taxes ]
[Disaster Relief ]
[Budget and Spending ]
[Small Business ]
[Housing ]
[Retirement ]
Sets forth tax relief provisions for individual and business taxpayers residing in a disaster zone during the period beginning on January 1, 2020, and ending 60 days after the enactment of this bill. Specifically, the bill allows penalty-free disaster-relief withdrawals from tax-exempt retirement plans up to $100,000, permits recontributions of such withdrawals for home purchases cancelled due to disasters, increases to $100,000 the limit on loans for disaster assistance from retirement plans, allows employers affected by a disaster a 40% tax credit
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Sponsored by: Sen. Dianne Feinstein
Read Twice And Referred To The Committee On Finance. on 09/17/2020
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Disaster Relief for Southeastern Small Businesses Act of 2020 [S.4607]
[Disaster Relief ]
[Small Business ]
[Funding ]
[Grants ]
[Economic Development ]
Establishes loan forgiveness for a recipient of a paycheck protection loan or an economic injury disaster loan made or guaranteed by the Small Business Administration in response to COVID-19 (i.e., coronavirus disease 2019) to a recipient located in an area for which the President declared a major disaster related to Hurricane Laura or Hurricane Sally.
Sponsored by: Sen. John Kennedy
Read Twice And Referred To The Committee On Finance. on 09/17/2020
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Disaster Tax Relief Act of 2020 [S.4596]
[Taxes ]
[Disaster Relief ]
[Budget and Spending ]
[Small Business ]
[Retirement ]
Sets forth tax relief provisions for individual and business taxpayers residing in a disaster zone during the period beginning on July 1, 2020, and ending 60 days after the enactment of this bill. Specifically, the bill allows penalty-free disaster-relief withdrawals from tax-exempt retirement plans up to $100,000, permits recontributions of such withdrawals for home purchases cancelled due to disasters, increases to $100,000 the limit on loans for disaster assistance from retirement plans, allows employers affected by a disaster a 40% tax credit
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Sponsored by: Sen. Chuck Grassley
Read Twice And Referred To The Committee On Finance. on 09/16/2020
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To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes. [HB-8265]
[Small Business ]
[Finance ]
[Budget and Spending ]
[Labor, Jobs, Employment ]
[Funding ]
[Grants ]
[Economic Development ]
To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes.
Sponsored by: Rep. Steve Scalise
Introduced In House on 09/16/2020
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Businesses Preparing for a Better Tomorrow Act [HB-8260]
[Taxes ]
[Labor, Jobs, Employment ]
[Small Business ]
[Public Health ]
[Healthcare ]
[Funding ]
Allows employers a payroll tax credit in each calendar quarter of 50% of the their qualified workplace training expenses paid or incurred after March 12, 2020, and before January 21, 2021. The bill defines qualified workplace training expenses as employer expenses for education and training for the health and safety of employees in the workplace with respect to COVID-19 (i.e., coronavirus disease 2019), and the prevention of the spread of COVID-19 in the workplace.
Sponsored by: Rep. Pete Olson
Introduced In House on 09/15/2020
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To amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment is made in property used for the mining, reclaiming, or recycling of critical minerals and metals from the United States, and for other purposes. [HB-8143]
[Mining ]
[Taxes ]
[Energy ]
[Environmental ]
[Waste Management / Recycling ]
[Manufacturing ]
[Economic Development ]
[Grants ]
[Budget and Spending ]
Allows permanent expensing of property used in the mining, reclaiming, or recycling of certain critical minerals and metals within the United States and of nonresidential real property used in mining such minerals and metals. Expensing is the treatment of expenditures as operating costs deductible in full in the current taxable year. The bill allows a new tax deduction for 200% of the cost of purchasing or acquiring such critical minerals and metals extracted from deposits in the United States. The bill requires the Department of the Interior to
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Sponsored by: Rep. Eric Swalwell
Referred To The Subcommittee On Energy And Mineral Resources. on 09/10/2020
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To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes. [HB-8087]
[Small Business ]
[Finance ]
[Budget and Spending ]
[Labor, Jobs, Employment ]
[Funding ]
[Grants ]
[Economic Development ]
To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes.
Sponsored by: Rep. Steve Chabot
Introduced In House on 08/22/2020
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Freight RAILCAR Act of 2020 Freight Rail Assistance and Investment to Launch Coronavirus-era Activity and Recovery Act of 2020 [HB-8082]
[Taxes ]
[Transportation and Motor Vehicles ]
[Infrastructure ]
[Economic Development ]
Establishes a new tax credit for the replacement and modernization of qualified freight railcars. Specifically, it allows a credit for 50% of the sum of the qualifying replacement or modernization amount, the qualifying scrap amount, and the qualifying railcar facility and technology modernization amount. The bill defines qualified freight railcar as a freight railcar that meets significant improvement requirements for capacity, fuel efficiency, or performance.
Sponsored by: Rep. Earl Blumenauer
Introduced In House on 08/21/2020
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PRINT Act Preserving Readership and Information of Newspapers for Tomorrow Act [HB-8070]
[Small Business ]
[Media and Advertising ]
[Funding ]
[Grants ]
Includes the cost of print production of local print media as an allowable use for funds disbursed to certain newspaper publishers under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Sponsored by: Rep. Collin Peterson
Introduced In House on 08/18/2020
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A bill to ensure that health care providers do not incur additional Federal income tax liability due to receipt of assistance through the Provider Relief Fund during the COVID-19 pandemic. [S.4525]
[Healthcare ]
[Taxes ]
[Public Health ]
[Medicare and Medicaid ]
[Funding ]
[Budget and Spending ]
Affirms that any payment or benefit provided to a taxpayer under the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act due to COVID-19 (i.e., coronavirus disease 2019) shall be excluded from gross income, for income tax purposes. Additionally, no deduction shall be denied or reduced, no tax attribute shall be reduced, and no basis increase shall be denied resulting from such exclusion.
Sponsored by: Sen. Marsha Blackburn
Read Twice And Referred To The Committee On Finance. on 08/12/2020
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Coronavirus Language Access Act [S.4526]
[Healthcare ]
[Public Health ]
[Funding ]
[Grants ]
[Human Services ]
[Disabilities ]
[Senior Citizens ]
[Public Safety ]
Requires the Centers for Disease Control and Prevention (CDC) and other federal agencies to take actions to expand access to information about COVID-19 (i.e., coronavirus disease 2019) for those with limited English proficiency. It also provides emergency funding to the Administration on Community Living for FY2020 to increase access to such information for those who have limited English proficiency and are older individuals, individuals with disabilities, or individuals who are deaf or hard of hearing. Among other requirements, the CDC must award
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Sponsored by: Sen. Robert Casey
Read Twice And Referred To The Committee On Health, Education, Labor, And Pensions. on 08/12/2020
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Small Business Comeback Act [HB-7671]
[Small Business ]
[Budget and Spending ]
[Funding ]
[Grants ]
[Economic Development ]
[Labor, Jobs, Employment ]
[Healthcare ]
[Insurance ]
[Taxes ]
[Public Health ]
Establishes a recovery compensation program whereby the Department of the Treasury shall authorize specified payments to certain small businesses to support their recovery from the COVID-19 (i.e., coronavirus disease 2019) pandemic. Treasury must appoint a Special Administrator to oversee the recovery compensation program, and the administrator must develop an application form that is simple to file and audit that applicants shall use when seeking recovery compensation. The maximum amount of recovery compensation an applicant may receive shall be
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Sponsored by: Rep. Grace Napolitano
Introduced In House on 07/20/2020
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US Congress 116th Congress
MMEDS Act of 2020 Medical Manufacturing, Economic Development, and Sustainability Act of 2020 [S.4467]
[Healthcare ]
[Economic Development ]
[Manufacturing ]
[Taxes ]
[Pharmaceuticals ]
[Public Health ]
[Senior Citizens ]
[Funding ]
[Grants ]
Provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical product manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical product manufacturing facility property, and a credit for economically distressed zone products and services
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Sponsored by: Sen. Marco Rubio
Read Twice And Referred To The Committee On Finance. on 08/06/2020
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US Congress 116th Congress
Paycheck Protection Program Integrity Act of 2020 [S.4489]
[Small Business ]
[Budget and Spending ]
[Funding ]
[Grants ]
[Labor, Jobs, Employment ]
[Taxes ]
[Nonprofit ]
[Economic Development ]
Modifies loan forgiveness under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill reduces the amount of loan forgiveness by (1) the amount of a recipient's after-tax income, or (2) the increase in net assets if the recipient is a nonprofit organization. A recipient seeking loan forgiveness must submit documentation verifying after-tax income and net assets to determine any paycheck protection loan repayment. Further, the bill requires the disclosure
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Sponsored by: Sen. Ron Johnson
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 08/06/2020
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Paycheck Protection Program Transparency Act of 2020 [S.4455]
[Small Business ]
[Funding ]
[Budget and Spending ]
[Labor, Jobs, Employment ]
[Technology and Innovation ]
[Data Privacy ]
[Public Health ]
[Healthcare ]
[Economic Development ]
[Consumer Protection ]
Requires the Small Business Administration (SBA) to disclose and report certain information related to the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the SBA must establish a website that contains specified borrower information such as the name, location, and number of employees of each borrower of a paycheck protection loan. The SBA must establish a second website that contains specified lender information such as the number of loans disbursed and total
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Sponsored by: Sen. Dianne Feinstein
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 08/05/2020
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Tribal Business Access to PPP Act [S.4446]
[Small Business ]
[Native American Affairs ]
[Funding ]
[Grants ]
[Economic Development ]
Modifies the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), by waiving affiliation rules that prevent certain tribal business concerns from being eligible to participate in the program. Affiliation rules govern which business entities are counted for the purpose of determining the size of a business, and affiliation occurs when multiple separate businesses are aggregated under one employer identification number and their employees or revenues are combined and counted
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Sponsored by: Sen. Richard Blumenthal
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 08/05/2020
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AT HOME Act Assisting Teachers and Home Office Modernization for Employees Act [S.4436]
[Taxes ]
[Small Business ]
[Labor, Jobs, Employment ]
[Budget and Spending ]
[Economic Development ]
Allows employers who have not more than 150 full-time employees a tax credit for 25% of their qualified remote work expenses. The bill defines qualified remote work expenses as expenses paid or incurred to allow employees to work from a worksite other than a shared office space, that are necessary to allow for continuation of normal business functions, are in response to COVID-19 (i.e., coronavirus disease 2019), and occur after February 15, 2020, and before January 1, 2021. The bill also extends such tax credit to tax-exempt entities. The bill
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Sponsored by: Sen. Margaret Hassan
Read Twice And Referred To The Committee On Finance. on 08/04/2020
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US Congress 116th Congress
Paycheck Protection Program Small Business Enhancement Act [HB-7894]
[Small Business ]
[Funding ]
[Grants ]
[Taxes ]
[Labor, Jobs, Employment ]
[Economic Development ]
[Budget and Spending ]
[Law Enforcement ]
[Public Safety ]
[Healthcare ]
[Finance ]
Extends the duration of, authorizes subsequent loans under, and otherwise modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill extends the Paycheck Protection Program through December 31, 2020. It also authorizes a recipient of a paycheck protection loan to apply for a subsequent loan made under the same terms, conditions, and process, and for which the recipient shall be eligible for forgiveness in the same manner, as an initial paycheck
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Sponsored by: Rep. Andy Harris
Introduced In House on 07/31/2020
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Connecting Communities to Grant Opportunities Act of 2020 [HB-7921]
[Healthcare ]
[Human Services ]
[Nonprofit ]
[Public Health ]
[Community Development ]
[Funding ]
[Grants ]
To authorize the Secretary of Health and Human Services to award grants to community-based nonprofit organizations to operate navigator programs, and for other purposes.
Sponsored by: Rep. Nydia Velazquez
Introduced In House on 07/31/2020