Business Expenses
US Congress 116th Congress
Employer Assistance Coordination Act [S.4268]
[Small Business ]
[Labor, Jobs, Employment ]
[Taxes ]
[Healthcare ]
[Public Health ]
[Funding ]
[Grants ]
[Economic Development ]
Permits certain small employers who participate in the Payroll Protection Program established to assist such employers adversely affected by the COVID-19 (i.e., coronavirus disease 2019) public health emergency to also claim the refundable employee retention tax credit if their businesses have experienced a significant reduction in revenue or have closed pursuant to a government order. The bill prohibits employers from using funds from both programs based upon the same wages paid to their employees.
Sponsored by: Sen. Richard Burr
Read Twice And Referred To The Committee On Finance. on 07/22/2020
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To permit the Administrator of the Small Business Administration to deem certain nonprofit organizations serving developmentally disabled individuals as eligible to participate in the paycheck protection program, and for other purposes. [HB-7664]
[Small Business ]
[Healthcare ]
[Human Services ]
[Disabilities ]
[Funding ]
[Grants ]
[Labor, Jobs, Employment ]
[Nonprofit ]
[Public Health ]
[Economic Development ]
Expands participation in the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) to encompass certain nonprofit organizations that provide home and community-based services to individuals with developmental disabilities.
Sponsored by: Rep. Jackie Walorski
Referred To The House Committee On Small Business. on 07/16/2020
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Expanding Assistance to Farmers Act of 2020 [HB-7619]
[Agriculture ]
[Small Business ]
[Food ]
[Budget and Spending ]
[Funding ]
[Grants ]
[Economic Development ]
Expands allowable uses and forgivable expenses for amounts provided under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to include certain property rental payments made by an agricultural enterprise. Such rental payments must be made on property that is used solely for the agricultural enterprise and shall include equipment (e.g., tractors, combines, and planters), land, and buildings.
Sponsored by: Rep. Brian K. Fitzpatrick
Introduced In House on 07/16/2020
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RAM Act of 2020 Reshoring American Manufacturing Act of 2020 [HB-7594]
[Manufacturing ]
[Taxes ]
[Trade ]
[Small Business ]
[Economic Development ]
Allows business taxpayers a tax credit, up to $25 million in a taxable year, for the cost of eligible reshoring expenses. The bill defines eligible reshoring expenses as amounts paid for the transportation (including any import duties, fees, or tariffs imposed with respect to such transportation) of manufacturing equipment from China to the United States. The credit expires after 2023.
Sponsored by: Rep. Bill Posey
Referred To The Subcommittee On Select Revenue Measures. on 07/13/2020
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SAVE Jobs Act Save American Vital Energy Jobs Act [HB-7579]
[Energy ]
[Taxes ]
[Labor, Jobs, Employment ]
[Budget and Spending ]
[Small Business ]
[Climate Change ]
[Economic Development ]
Extends energy-related tax provisions and expands incentives for job creation in the energy sector during the COVID-19 (i.e., coronavirus disease 2019) emergency period. Specifically, the bill extends for one year the construction period for carbon oxide sequestration facilities for purposes of the tax credit, suspends capitalization rules in 2020 to permit immediate expensing of certain inventory costs, reduces the required deposit of certain motor fuel excise taxes from 95% to 25%, allows expensing of intangible drilling costs in 2020, permits
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Sponsored by: Rep. Dan Newhouse
Referred To The Subcommittee On Select Revenue Measures. on 07/13/2020
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MMEDS Act of 2020 Medical Manufacturing, Economic Development, and Sustainability Act of 2020 [HB-7527]
[Economic Development ]
[Healthcare ]
[Manufacturing ]
[Small Business ]
To rescue domestic medical manufacturing activity by providing incentives in economically distressed areas of the United States and its possessions.
Sponsored by: Rep. Jose E. Serrano
Referred To The Subcommittee On Health. on 07/09/2020
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Made in America: Preparation for a Pandemic Act of 2020 [HB-7548]
[Healthcare ]
[Taxes ]
[Public Health ]
[Manufacturing ]
[Small Business ]
[National Security ]
[Economic Development ]
[Funding ]
[Grants ]
[Public Safety ]
Establishes a pandemic preparation tax credit and a requirement to maintain in the Strategic National Stockpile a specified amount of personal protective equipment (PPE). The pandemic preparation tax credit is an amount equal to 20% of the qualified expenses paid or incurred by the taxpayer for purposes of producing PPE that qualifies for addition to the Strategic National Stockpile. The Office of Management and Budget (OMB) shall ensure that the stockpile includes an amount of PPE sufficient to meet the health security needs of the United States
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Sponsored by: Rep. Glenn Grothman
Committee Consideration And Mark-up Session Held. on 09/16/2020
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RESTART Act Reviving the Economy Sustainably Towards A Recovery in Twenty-twenty Act [HB-7481]
[Small Business ]
[Budget and Spending ]
[Finance ]
[Labor, Jobs, Employment ]
[Funding ]
[Grants ]
[Economic Development ]
[Public Health ]
Establishes a loan program whereby the Small Business Administration (SBA) shall guarantee loan amounts to certain businesses affected by COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill requires the SBA to guarantee 100% of program loan amounts made to certain small businesses that have not more than than 5,000 full-time employees. The terms for such loans shall include (1) a maximum duration of not more than seven years; (2) an amount that is not greater than 45% of 2019 gross receipts, up to $12 million; and (3) no payment on
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Sponsored by: Rep. Raul M. Grijalva
Referred To The Subcommittee On Select Revenue Measures. on 07/02/2020
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Calculate PPP Forgiveness Act of 2020 [S.4171]
[Small Business ]
[Technology and Innovation ]
[Funding ]
[Grants ]
[Economic Development ]
Requires the Small Business Administration to establish or certify an online calculator that allows recipients of assistance under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) to (1) estimate the amount of loan forgiveness for which they are eligible, and (2) assist with their applications to request loan forgiveness.
Sponsored by: Sen. Angus S. King
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 07/02/2020
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Small Business Disaster Loan Enhancement Act of 2020 [S.4167]
[Small Business ]
[Disaster Relief ]
[Funding ]
[Grants ]
[Inflation ]
[Law Enforcement ]
[Public Safety ]
[Economic Development ]
[Budget and Spending ]
Authorizes and provides funding for additional disaster loans and grants made to small businesses by the Small Business Administration (SBA) and temporarily limits the interest rate for certain economic injury disaster loans. Specifically, the bill authorizes an additional disaster loan to a prior recipient that received such a loan during the period between February 15, 2020, and December 31, 2020, up to an aggregate amount of $2 million. Further, the bill prohibits the SBA from imposing a maximum loan amount limit that is lower than $2 million
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Sponsored by: Sen. Ron Wyden
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 07/02/2020
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Paycheck Protection Program Extension and Modification Act of 2020 [S.4125]
[Small Business ]
[Labor, Jobs, Employment ]
[Funding ]
[Grants ]
[Economic Development ]
[Budget and Spending ]
[Healthcare ]
[Public Health ]
Extends through December 31, 2020, the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), and it authorizes additional lending under the program. Specifically, the bill authorizes an additional program loan to be made to a prior recipient of a paycheck protection loan. Such additional loan shall be (1) used for allowable expenses under the program, (2) guaranteed in the same manner as a paycheck protection loan, and (3) eligible for forgiveness under the program.
Sponsored by: Sen. Cory Gardner
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 07/01/2020
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To extend the authority for commitments for the paycheck protection program and separate amounts authorized for other loans under section 7(a) of the Small Business Act, and for other purposes. [HB-7437]
[Small Business ]
[Labor, Jobs, Employment ]
[Budget and Spending ]
[Funding ]
[Grants ]
[Economic Development ]
[Public Health ]
[Healthcare ]
[Disaster Relief ]
Extends through August 8, 2020, the application period for the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Sponsored by: Rep. Troy Balderson
Introduced In House on 07/01/2020
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Paycheck Protection Small Business Forgiveness Act [S.4117]
[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. Further, it prohibits any enforcement or other action against a lender relating to loan origination, forgiveness, or guarantee based on the lender's reliance on certifications or documentation submitted by a loan applicant or recipient.
Sponsored by: Sen. Martha McSally
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 06/30/2020
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✔
A bill to extend the authority for commitments for the paycheck protection program and separate amounts authorized for other loans under section 7(a) of the Small Business Act, and for other purposes. [S.4116]
[Small Business ]
[Labor, Jobs, Employment ]
[Budget and Spending ]
[Funding ]
[Grants ]
[Economic Development ]
Extends through August 8, 2020, the application period for the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Sponsored by: Sen. Susan M. Collins
Became Public Law No: 116-147. on 07/08/2020
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To amend the Small Business Act to provide that certain chambers of commerce and destination marketing organizations are eligible for loans under the paycheck protection program, and for other purposes. [HB-7397]
[Small Business ]
[Labor, Jobs, Employment ]
[Economic Development ]
[Funding ]
[Grants ]
[Tourism ]
Expands the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to encompass chambers of commerce and certain destination marketing organizations with 300 or fewer employees.
Sponsored by: Rep. Joe Wilson
Introduced In House on 06/29/2020
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Calculate PPP Forgiveness Act of 2020 [HB-7413]
[Small Business ]
[Technology and Innovation ]
[Funding ]
[Grants ]
[Economic Development ]
Requires the Small Business Administration to establish or certify an online calculator that allows recipients of assistance under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) to (1) estimate the amount of loan forgiveness for which they are eligible, and (2) assist with their applications to request loan forgiveness.
Sponsored by: Rep. Sean Patrick Maloney
Introduced In House on 06/29/2020
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Support Baseball in Communities Act [S.4069]
[Sports ]
[Small Business ]
[Economic Development ]
[Funding ]
Makes a Major League Baseball team that reduces its number of affiliated minor league teams ineligible to receive support under (1) the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), or (2) certain other economic stabilization and assistance programs implemented in response to COVID-19.
Sponsored by: Sen. Steve Daines
Read Twice And Referred To The Committee On Commerce, Science, And Transportation. on 06/25/2020
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SAVE Jobs Act Save American Vital Energy Jobs Act [S.4041]
[Energy ]
[Taxes ]
[Labor, Jobs, Employment ]
[Budget and Spending ]
[Small Business ]
[Climate Change ]
[Economic Development ]
Extends energy-related tax provisions and expands incentives for job creation in the energy sector during the COVID-19 (i.e., coronavirus disease 2019) emergency period. Specifically, the bill extends for one year the construction period for carbon oxide sequestration facilities for purposes of the tax credit, suspends capitalization rules in 2020 to permit immediate expensing of certain inventory costs, reduces the required deposit of certain motor fuel excise taxes from 95% to 25%, allows expensing of intangible drilling costs in 2020, permits
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Sponsored by: Sen. Shelley Moore Capito
Read Twice And Referred To The Committee On Finance. on 06/23/2020
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US Congress 116th Congress
TRACE Act Transparency Requirements Aimed at Congressional Expenditures Act [S.4027]
[Small Business ]
[Finance ]
[Ethics ]
A bill to amend the Small Business Act to require Members of Congress, spouses of Members of Congress, and employees of Congress who receive a loan under the paycheck protection program to submit a financial disclosure form.
Sponsored by: Sen. Joni Ernst
Read Twice And Referred To The Committee On Homeland Security And Governmental Affairs. on 06/22/2020
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US Congress 116th Congress
P4 Ac Prioritized Paycheck Protection Program Act [S.4014]
[Small Business ]
[Labor, Jobs, Employment ]
[Funding ]
[Grants ]
[Economic Development ]
[Budget and Spending ]
[Law Enforcement ]
[Public Safety ]
[Healthcare ]
Authorizes new lending under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), for specified small businesses that have experienced a significant loss in revenue. Specifically, the bill authorizes one supplemental paycheck protection loan for a small business that (1) has no more than 100 employees, (2) operates under a sole proprietorship or as an independent contractor, or (3) is self-employed. To be eligible for a supplemental paycheck protection loan, such small
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Sponsored by: Sen. Robert P. Casey
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 06/18/2020