Department Of The Treasury
US Congress 116th Congress
Business Borrowers Protection Act [HB-6790]
[Small Business ]
[Consumer Protection ]
[Economic Development ]
[Funding ]
[Grants ]
[Law Enforcement ]
[Public Safety ]
Prohibits a creditor from enforcing a loan covenant that requires the accelerated repayment of a loan if the borrower receives a loan under certain COVID-19 (i.e., coronavirus disease 2019) economic aid programs. Additionally, a creditor is prohibited from enforcing any loan covenant beginning on the date of enactment of this bill and ending one year after the termination of the COVID-19 national emergency.
Sponsored by: Rep. Brad Sherman
Introduced In House on 05/08/2020
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Providing Essentials for Frontline Workers Act [HB-6787]
[Taxes ]
[Labor, Jobs, Employment ]
[Healthcare ]
[Small Business ]
[Public Health ]
[Economic Development ]
[Funding ]
Allows an employer a payroll tax credit for certain pandemic-related employee benefit expenses paid by such employer after March 12, 2020, and before January 1, 2021. The amount of such credit is 50% of the pandemic-related expenses of essential employees and 30% for other employees. The amount of expenses taken into account for purposes of the credit for any employee may not exceed $5,000 in any calendar quarter. The bill defines qualified pandemic-related employee benefit expenses as amounts paid to an employee that are excludible from gross income
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Sponsored by: Rep. Linda Sanchez
Introduced In House on 05/08/2020
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State & Local Emergency Stabilization Fund Act of 2020 [S.3671]
[Budget and Spending ]
[Disaster Relief ]
[Funding ]
[Grants ]
[Public Health ]
[Taxes ]
[Economic Development ]
Appropriates $600 billion in additional funding for states, territories, tribal governments, and local communities due to the COVID-19 (i.e., coronavirus disease 2019) public health emergency and allows additional uses for Coronavirus Relief Fund payments. The bill allows payments under this bill or from the Coronavirus Relief Fund to be used for expenditures from January 1, 2020, to June 30, 2022, regardless of a connection to the COVID-19 emergency. Payments may not be used to provide a tax cut, rebate, or other tax benefit or to reduce or eliminate
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Appropriations. on 05/07/2020
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United States Secret Service Mission Improvement and Realignment Act of 2020 [S.3636]
[National Security ]
[Law Enforcement ]
[Budget and Spending ]
[Transportation and Motor Vehicles ]
Transfers the U.S. Secret Service from the Department of Homeland Security to the Department of the Treasury. The bill directs the Office of Management and Budget to make incidental dispositions of personnel, assets, and liabilities held in connection with the functions transferred. The Secret Service, by December 31 of each year, shall submit to specified congressional committees an annual report on any trip by a protected individual with a stop at a location that is not owned or controlled by the federal government, including any such trip that
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Sponsored by: Sen. Dianne Feinstein
Read Twice And Referred To The Committee On The Judiciary. on 05/06/2020
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To direct the Secretary of the Treasury to modify certain regulations relating to insurance-dedicated exchange-traded funds. [HB-6732]
[Finance ]
[Insurance ]
[Investments ]
Directs the Department of the Treasury to modify certain regulations relating to insurance-dedicated exchange-traded funds. An exchange-traded fund is a regulated investment company, partnership, or trust (1) that is registered with the Securities and Exchange Commission as an open-end investment company or a unit investment trust, (2) the shares of which can be purchased or redeemed directly from the fund only by an authorized participant (i.e., a financial institution that is a member or participant of a registered clearing agency), and (3) the
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Sponsored by: Rep. John Larson
Introduced In House on 05/05/2020
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Student Loan Forgiveness for Frontline Health Workers Act [HB-6720]
[Student Loans ]
[Healthcare ]
[Labor, Jobs, Employment ]
[Public Health ]
To provide student loan forgiveness to health care workers who are on the front line in response to COVID-19.
Sponsored by: Rep. Raul Grijalva
Introduced In House on 05/05/2020
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Automatic Boost to Communities Act [HB-6553]
[Funding ]
[Grants ]
[Consumer Protection ]
[Economic Development ]
[Public Health ]
[Budget and Spending ]
To direct the Secretary of the Treasury to establish the Boost Communities Program to provide monthly payments to America's consumers during the COVID-19 emergency to recover from the emergency, and for other purposes.
Sponsored by: Rep. Janice Schakowsky
Introduced In House on 04/17/2020
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Worker Health Coverage Protection Act [HB-6514]
[Healthcare ]
[Labor, Jobs, Employment ]
[Insurance ]
[Public Health ]
[Unemployment ]
[Taxes ]
[Funding ]
Provides health insurance premium assistance for individuals who become unemployed or are furloughed during or shortly after the coronavirus (i.e., the virus that causes COVID-19) public health emergency. Specifically, the bill treats premiums as paid for up to 15 months for individuals who (1) are terminated from employment and elect to continue insurance coverage through the COBRA (Consolidated Omnibus Budget Reconciliation Act) program or (2) receive a 20% or greater reduction in paid hours but remain eligible for coverage under a group health
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Sponsored by: Rep. Sean Maloney
Introduced In House on 04/14/2020
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To amend the CARES Act to establish a loan program to provide liquidity to eligible lenders for the purpose of providing loans under the Paycheck Protection Program, and for other purposes. [HB-6476]
[Finance ]
[Small Business ]
[Budget and Spending ]
[Funding ]
[Grants ]
[Economic Development ]
[Law Enforcement ]
[Public Safety ]
[Disaster Relief ]
Requires, and provides funds for, the Department of the Treasury to establish a loan program that provides liquidity to community development financial institutions, small minority depository institutions, and rural banks participating in the Paycheck Protection Program created in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic.
Sponsored by: Rep. Al Green
Introduced In House on 04/10/2020
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American Business for American Companies Act of 2019 [HB-3802]
[Trade ]
[Small Business ]
[Defense ]
[Manufacturing ]
[Economic Development ]
[National Security ]
Prohibits an executive agency from awarding a contract for the procurement of property or services (including a defense contract) to (1) any foreign incorporated entity determined to be an inverted domestic corporation or any subsidiary of such entity, or (2) any joint venture more than 10% of which is held by such an entity or subsidiary. An inverted domestic corporation is a company that was previously incorporated in the United States or was a partnership in the United States but is now incorporated in a foreign country despite (1) a majority
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Sponsored by: Rep. Rosa DeLauro
Introduced In House on 07/17/2019
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To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities. [HB-6424]
[Taxes ]
[Funding ]
[Grants ]
[Healthcare ]
[Public Health ]
[Nonprofit ]
[Small Business ]
Allows taxpayers to claim a tax deduction for charitable contributions even if they do not otherwise itemize their deductions. The bill also directs the Department of the Treasury to make or guarantee loans to tax-exempt charitable organizations. The aggregate amount of such loans may not exceed $60 billion. Treasury must give priority in making such loans to organizations that are providing direct assistance to the COVID-19 (i.e., the coronavirus disease 2019) response effort.
Sponsored by: Rep. Seth Moulton
Introduced In House on 03/31/2020
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To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities. [HB-6408]
[Taxes ]
[Funding ]
[Grants ]
[Healthcare ]
[Public Health ]
[Nonprofit ]
[Budget and Spending ]
Allows taxpayers to claim a tax deduction for charitable contributions even if they do not otherwise itemize their deductions. The bill also directs the Department of the Treasury to make or guarantee loans to tax-exempt charitable organizations. The aggregate amount of such loans may not exceed $60 billion. Treasury must give priority in making such loans to organizations that are providing direct assistance to the COVID-19 (i.e., the coronavirus disease 2019) response effort.
Sponsored by: Rep. Sean Maloney
Introduced In House on 03/27/2020
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New Business Preservation Act [HB-6403]
[Small Business ]
[Economic Development ]
[Funding ]
[Grants ]
[Investments ]
[Technology and Innovation ]
[Finance ]
[Budget and Spending ]
Establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury shall work with states to invest in new businesses. Specifically, the bill requires Treasury to provide certain funds to participating states, which such states shall use to administer specified approved programs that provide equity investment in new businesses. Certain areas with high levels of venture capital activity are excluded from the calculation of funds allocated to a participating state. Treasury shall
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Sponsored by: Rep. Tim Ryan
Introduced In House on 03/26/2020
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To amend the Internal Revenue Code of 1986 to allow for a 5-year carryback of operating losses of small businesses, and for other purposes. [HB-6391]
[Taxes ]
[Small Business ]
[Labor, Jobs, Employment ]
[Economic Development ]
Allows certain small businesses (fewer than 250 employees) a 5-year carryback of net operating losses incurred in 2020 due to COVID-19 (i.e., the coronavirus disease 2019).
Sponsored by: Rep. Bradley Schneider
Introduced In House on 03/25/2020
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Small Business Assistance Act of 2020 [HB-6354]
[Small Business ]
[Taxes ]
[Finance ]
[Economic Development ]
To amend the Internal Revenue Code of 1986 to provide a one-time emergency tax credit to small businesses to cover rent and mortgage payments.
Sponsored by: Rep. Terri Sewell
Introduced In House on 03/23/2020
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Take Responsibility for Workers and Families Act Workforce Emergency Response Act of 2020 [HB-6379]
[Family-Related Legislation ]
[Finance ]
[Healthcare ]
[Housing ]
[Medicare and Medicaid ]
[Taxes ]
[Transportation and Motor Vehicles ]
[Budget and Spending ]
[Small Business ]
[Consumer Protection ]
[Education ]
[Veterans ]
[Public Health ]
[Mental Health ]
[Children and Youth ]
[Economic Development ]
[Elections ]
[Funding ]
[Grants ]
[Human Services ]
[Inflation ]
[Pensions ]
[Retirement ]
[Student Loans ]
[Labor, Jobs, Employment ]
[Unemployment ]
[Disaster Relief ]
Responds to the COVID-19 (i.e., coronavirus disease 2019) outbreak and its impact on the economy, public health, state and local governments, individuals, and businesses. The bill provides FY2020 supplemental appropriations for federal agencies to respond to the COVID-19 outbreak. The supplemental appropriations are designated as emergency spending, which is exempt from discretionary spending limits. In addition, the bill expands paid sick days, family and medical leave, unemployment compensation, and food assistance programs; provides economic
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Sponsored by: Rep. Nita Lowey
Introduced In House on 03/23/2020
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RELIEF Act of 2020 Reinvestment to Ensure a Livable Income for Every Family Act of 2020 [HB-6290]
[Taxes ]
[Healthcare ]
[Climate Change ]
[Public Health ]
[Budget and Spending ]
[Children and Youth ]
Expresses the sense of Congress with respect to COVID-19 (i.e., the coronavirus disease 2019) and its impact on the health of Americans and the U.S. economy. The bill allows an individual taxpayer a refundable tax credit equal to $1,000 ($2,000 for joint returns) beginning in 2020. The taxpayer must be 18 years of age in 2020, a resident of the United States, and not a dependent of another taxpayer. A dependent child under age 18 shall receive a $500 credit amount. The credit is denied to certain top income earners. The Internal Revenue Service
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Sponsored by: Rep. Janice Schakowsky
Introduced In House on 03/19/2020
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New Business Preservation Act [S.3515]
[Small Business ]
[Economic Development ]
[Funding ]
[Grants ]
[Investments ]
[Technology and Innovation ]
[Budget and Spending ]
[Finance ]
Establishes and provides funding for the Innovation and Startups Equity Investment Program, through which the Department of the Treasury shall work with states to invest in new businesses. Specifically, the bill requires Treasury to provide certain funds to participating states, which such states shall use to administer specified approved programs that provide equity investment in new businesses. Certain areas with high levels of venture capital activity are excluded from the calculation of funds allocated to a participating state. Treasury shall
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Sponsored by: Sen. Angus King
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/18/2020
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Protecting Taxpayer's Return on Investment Act of 2020 [S.3526]
[Taxes ]
[Budget and Spending ]
[Finance ]
[Small Business ]
[Healthcare ]
[Public Health ]
[Economic Development ]
Sets forth requirements for the purchase or guarantee of a company's assets by the Department of the Treasury in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic. Specifically, as a condition of such a transaction, companies must provide a warrant (i.e., the right to purchase company stock in the future at a specified exercise price) or a senior debt instrument to Treasury. The exercise price for a warrant must be set by Treasury for the primary benefit of taxpayers. Treasury is generally prohibited from purchasing or guaranteeing
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. on 03/18/2020
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Coronavirus TANF Expansion Act [S.3522]
[Healthcare ]
[Public Health ]
[Human Services ]
[Funding ]
[Grants ]
[Poverty ]
[Children and Youth ]
[Disaster Relief ]
[Budget and Spending ]
Reauthorizes through December 31, 2020, the Temporary Assistance for Needy Families (TANF) program and expands TANF eligibility and assistance to respond to the COVID-19 (i.e., coronavirus disease 2019) public health emergency. Specifically, states may (1) allow certain families that have incomes of up to 400% of the federal poverty level and that have experienced reduced incomes because of COVID-19 to receive TANF assistance, and (2) provide additional cash payments to these and other TANF recipients. The Department of Health and Human Services
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Sponsored by: Sen. Tom Cotton
Read Twice And Referred To The Committee On Finance. on 03/18/2020