Business Expenses
US Congress 116th Congress
IGNITE American Innovation Act Innovation and Growth Now by Investing in Tomorrow’s Enterprises Act [HB-7917]
[Taxes ]
[Small Business ]
[Economic Development ]
[Funding ]
[Grants ]
[Technology and Innovation ]
[Science ]
To amend the Internal Revenue Code of 1986 to provide for advance refunds of certain net operating losses and research expenditures relating to COVID-19, and for other purposes.
Sponsored by: Rep. Jackie Walorski
Introduced In House on 07/31/2020
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Stop Pilfering Everyone’s Paycheck Protection for Election Results Act [HB-7871]
[Small Business ]
[Elections ]
[Funding ]
[Grants ]
[Law Enforcement ]
[Public Safety ]
[Budget and Spending ]
[Finance ]
Requires a political organization to return any amounts received under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). A political organization is a party, committee, association, fund, or other organization operated primarily for the purpose of accepting contributions or making expenditures to influence the nomination, election, or appointment of an individual to public office.
Sponsored by: Rep. Bob Gibbs
Introduced In House on 07/30/2020
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HITS Act Help Independent Tracks Succeed Act [HB-7886]
[Arts and Culture ]
[Taxes ]
[Small Business ]
[Economic Development ]
Permits taxpayers to treat as currently deductible expenses the cost of qualified sound recording productions not exceeding $150,000 in a taxable year. The bill defines qualified sound recording production as certain sound recordings produced and recorded in the United States.
Sponsored by: Rep. Andy Biggs
Introduced In House on 07/30/2020
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PPP Access for Rural Hospitals Act [S.4217]
[Healthcare ]
[Small Business ]
[Funding ]
[Public Health ]
[Economic Development ]
Includes within the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), certain rural hospitals or hospitals serving low-income patients that are designated as critical care hospitals.
Sponsored by: Sen. Roger F. Wicker
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 07/20/2020
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ORE Act Onshoring Rare Earths Act of 2020 [HB-7812]
[Mining ]
[Defense ]
[Taxes ]
[Manufacturing ]
[Economic Development ]
[Grants ]
[National Security ]
[Energy ]
Allows permanent expensing of property used in the extraction of certain critical minerals and metals within the United States and of nonresidential real property used in extracting 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 Defense (DOD) to establish a pilot
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Sponsored by: Rep. John Joyce
Introduced In House on 07/29/2020
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ENCORES Act Entertainments New Credit Opportunity for Relief and Economic Sustainability Act [S.4344]
[Taxes ]
[Small Business ]
[Arts and Culture ]
[Economic Development ]
[Funding ]
[Grants ]
[Tourism ]
Allows certain businesses and tax-exempt entities that conduct live events for which tickets are sold to the general public a tax credit for 50% of any refund made during the period beginning on January 31, 2020, and ending on the enactment date of this bill. The bill defines live event as any live concert, comedy show, sporting event, or theatrical production for which tickets were made available to the general public not less than six weeks prior to the event. The credit does not apply to an entity engaged in professional football, basketball,
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Sponsored by: Sen. Jon Tester
Read Twice And Referred To The Committee On Finance. on 07/28/2020
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Abortion Providers Loan Elimination Act [HB-7792]
[Reproductive Rights / Abortion ]
[Small Business ]
[Healthcare ]
[Funding ]
[Public Health ]
Modifies the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), by making any individual or entity that provides abortions ineligible to receive a paycheck protection loan. An exception is allowed for abortions performed at hospitals or if the pregnancy is the result of rape or incest or endangers the life of the mother. The Inspector General of the Small Business Administration must investigate and report on the number of paycheck protection loans made to the Planned Parenthood
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Sponsored by: Rep. Alexander Mooney
Introduced In House on 07/27/2020
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American Workers, Families, and Employers Assistance Act [S.4318]
[Labor, Jobs, Employment ]
[Healthcare ]
[Public Health ]
[Economic Development ]
[Family-Related Legislation ]
A bill to provide assistance to American workers, families, and employers during the COVID-19 pandemic.
Sponsored by: Sen. Chuck Grassley
Read Twice And Referred To The Committee On Finance. on 07/27/2020
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Supporting America’s Restaurant Workers Act [S.4319]
[Taxes ]
[Labor, Jobs, Employment ]
[Small Business ]
[Food ]
[Economic Development ]
Expands the currrent 50% tax deduction for business meals to 100% of the cost of such meals provided by a restaurant paid or incurred before January 1, 2021.
Sponsored by: Sen. Tim Scott
Read Twice And Referred To The Committee On Finance. on 07/27/2020
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Continuing Small Business Recovery and Paycheck Protection Program Act [S.4321]
[Small Business ]
[Funding ]
[Grants ]
[Economic Development ]
[Manufacturing ]
[Disaster Relief ]
[Budget and Spending ]
[Labor, Jobs, Employment ]
[Healthcare ]
[Public Health ]
Establishes funding for, expands, and provides additional economic assistance to small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the Small Business Administration (SBA) is authorized to provide second draw loans of up to $2 million under the Paycheck Protection Program. A recipient shall be eligible for forgiveness of a second draw loan in the same manner as an initial paycheck protection loan. The SBA may also provide loans of up to $10 million to recovery sector small businesses (e.g., certain seasonal
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Sponsored by: Sen. Susan M. Collins
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 07/27/2020
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SOS Act Save our Stages Act [HB-7806]
[Small Business ]
[Arts and Culture ]
[Economic Development ]
[Funding ]
[Grants ]
[Public Health ]
[Tourism ]
[Budget and Spending ]
Authorizes the Small Business Administration (SBA) to make grants to eligible live venue operators, producers, promoters, or talent representatives to address the economic effects of the COVID-19 (i.e., coronavirus disease 2019) pandemic on certain live venues. Specifically, the SBA may make (1) an initial grant of up to $12 million dollars to an eligible operator, promoter, producer, or talent representative; and (2) a supplemental grant that is equal to 50% of the initial grant. An initial grant must be used for costs incurred between March 1,
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Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 07/27/2020
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To require the Planned Parenthood Federation of America and any affiliates to return amounts received under the paycheck protection program, and for other purposes. [HB-7802]
[Small Business ]
[Healthcare ]
[Funding ]
[Budget and Spending ]
Requires the Planned Parenthood Federation of America and any affiliates thereof to return any amounts received under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Sponsored by: Rep. Alexander Mooney
Introduced In House on 07/27/2020
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Paycheck Protection Small Business Forgiveness Act [HB-7777]
[Small Business ]
[Funding ]
[Grants ]
[Budget and Spending ]
[Finance ]
[Law Enforcement ]
[Public Safety ]
[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 provides for automatic forgiveness of a paycheck protection loan that is not more than $150,000 if the recipient submits a one-page form. Such form must allow a recipient to submit specified demographc and expenditure information, and certain individuals (e.g., the President, the Vice President, or the head of an executive department) are not eligible for such forgiveness.
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Sponsored by: Rep. Alexander Mooney
Introduced In House on 07/24/2020
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Value in Health Care Act of 2020 [HB-7791]
[Healthcare ]
[Medicare and Medicaid ]
[Budget and Spending ]
Makes a series of changes to certain methodologies and components used in the Medicare Shared Savings Program. The program enables accountable care organizations (ACOs) to receive payments for savings stemming from care coordination and management. Among other changes, the bill requires the Centers for Medicare & Medicaid Services to increase the shared savings rate for participating ACOs, as specified, and to establish a program that assists ACOs with start-up and operational costs of participation. The bill also extends certain incentive payments
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Sponsored by: Rep. Darin LaHood
Introduced In House on 07/24/2020
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End Polluter Welfare Act of 2020 [HB-7781]
[Energy ]
[Environmental ]
[Climate Change ]
[Budget and Spending ]
[Taxes ]
To eliminate certain subsidies for fossil-fuel production.
Sponsored by: Rep. Raul M. Grijalva
Referred To The Subcommittee On Select Revenue Measures. on 09/03/2020
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ENCORES Act Entertainments New Credit Opportunity for Relief & Economic Sustainability Act [HB-7735]
[Taxes ]
[Small Business ]
[Arts and Culture ]
[Economic Development ]
[Funding ]
[Grants ]
[Tourism ]
Allows certain businesses and tax-exempt entities that conduct live events for which tickets are sold to the general public a tax credit for 50% of any refund made during the period beginning on January 31, 2020, and ending on the enactment date of this bill. The bill defines live event as any live concert, comedy show, sporting event, or theatrical production for which tickets were made available to the general public not less than six weeks prior to the event. The credit does not apply to an entity engaged in professional football, basketball,
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Sponsored by: Rep. Ron Kind
Introduced In House on 07/23/2020
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To amend the Internal Revenue Code of 1986 to increase the research tax credit and provide better access to the credit for business startups. [HB-7766]
[Taxes ]
[Small Business ]
[Technology and Innovation ]
[Labor, Jobs, Employment ]
[Economic Development ]
Increases from 20% to 40% the rate of the tax credit for increasing research activities. It also increases the rate of the alternative simplified research credit and the credit rate where there have been no research expenses for the preceding three years. The bill also increases the amount of research expenses for purposes of calculating the payroll tax credit allowed to certain small businesses.
Sponsored by: Rep. Jackie Walorski
Introduced In House on 07/23/2020
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MICRO Business Success Act Microbusiness Improvement and Coronavirus Recovery Opportunities for Business Success Act of 2020 [HB-7740]
[Small Business ]
[Labor, Jobs, Employment ]
[Economic Development ]
[Funding ]
[Grants ]
[Public Health ]
Provides designated Small Business Administration (SBA) assistance for small businesses with 10 or fewer employees. Specifically, out of the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), the bill allots $20 billion of remaining program funds for small businesses with 10 or fewer employees. Additionally, the bill raises the aggregate amount for SBA loans to such small businesses from $6 million to $10 million. The bill adds the expansion of such small businesses to the
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Sponsored by: Rep. Steve Chabot
Introduced In House on 07/23/2020
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Building Businesses Back Act of 2020 [HB-7734]
[Taxes ]
[Small Business ]
[Economic Development ]
Allows taxpayers an election to increase the amount of their general business tax credit for taxable years ending in 2019 or 2020.
Sponsored by: Rep. Darin LaHood
Referred To The Subcommittee On Select Revenue Measures. on 07/23/2020
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SOS Act Save our Stages Act [S.4258]
[Small Business ]
[Arts and Culture ]
[Economic Development ]
[Funding ]
[Grants ]
[Public Health ]
[Tourism ]
[Budget and Spending ]
Authorizes the Small Business Administration (SBA) to make grants to eligible live venue operators, producers, promoters, or talent representatives to address the economic effects of the COVID-19 (i.e., coronavirus disease 2019) pandemic on certain live venues. Specifically, the SBA may make (1) an initial grant of up to $12 million dollars to an eligible operator, promoter, producer, or talent representative; and (2) a supplemental grant that is equal to 50% of the initial grant. An initial grant must be used for costs incurred between March 1,
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Sponsored by: Sen. Robert P. Casey
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 07/22/2020