Bill > HR6776

Introduced Session

JOBS Credit Act of 2020 Jumpstarting Our Businesses' Success Credit Act of 2020 This bill increases the employer tax credit for the retention of employees and coordinates such credit with the Payroll Protection Program. Specifically, it increases the rate of the employee retention credit to 80% of up to $15,000 in employee wages per calendar quarter with an increased annual wage cap of $45,000 for all calendar quarters. The bill increases the maximum credit amount to $36,000. The bill expands the definition of large employer, for credit eligibility purposes, to include employers with more than 1,500 employees and more than $41.5 million in gross receipts in 2019, and requires employers to show a significant decline in gross receipts. It also extends eligibility for the credit to state governmental agencies and Indian tribal governments. The bill also coordinates the credit with the Paycheck Protection Program to allow employers to claim both programs subject to certain restrictions.

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Committee Categories

Stephanie Murphy (D)*,  Cindy Axne (D),  Ed Case (D),  John Curtis (R),  Suzan DelBene (D),  Brian Fitzpatrick (R),  Anthony Gonzalez (R),  Jenniffer González (R),  Josh Gottheimer (D),  Jaime Herrera Beutler (R),  Kendra Horn (D),  Steven Horsford (D),  Dave Joyce (R),  John Katko (R),  Derek Kilmer (D),  Peter King (R),  Ann Kuster (D),  Ben McAdams (D),  Lucy McBath (D),  Grace Napolitano (D),  Jimmy Panetta (D),  Chris Pappas (D),  Dean Phillips (D),  Kathleen Rice (D),  Mikie Sherrill (D),  Xochitl Torres Small (D), 

Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (on 05/08/2020)

Official Document