summary
Introduced
05/12/2020
05/12/2020
In Committee
05/12/2020
05/12/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to amend the Internal Revenue Code of 1986 to disregard additional unemployment compensation for purposes of premium tax credit and cost-sharing subsidies, and for other purposes. This bill requires the disregard of additional unemployment insurance paid under the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act in determining eligibility for and the amount of the tax credit for health care premium assistance and for means tested federal benefit programs.
AI Summary
This bill aims to amend the Internal Revenue Code to disregard additional unemployment compensation, such as the Federal pandemic unemployment compensation paid under the CARES Act, when determining eligibility for and the amount of the premium tax credit and cost-sharing subsidies for health care. It also temporarily suspends the requirement to repay excess advance payments of the premium tax credit for the 2020 and 2021 tax years. These provisions are intended to provide relief for unemployed individuals and families who may have lost their employer-sponsored health insurance coverage during the COVID-19 pandemic.
Committee Categories
Budget and Finance
Sponsors (7)
Ben Cardin (D)*,
Michael Bennet (D),
Sherrod Brown (D),
Ed Markey (D),
Jeff Merkley (D),
Jeanne Shaheen (D),
Chris Van Hollen (D),
Last Action
Read twice and referred to the Committee on Finance. (on 05/12/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/3696/all-info |
| BillText | https://www.congress.gov/116/bills/s3696/BILLS-116s3696is.pdf |
| Bill | https://www.congress.gov/116/bills/s3696/BILLS-116s3696is.pdf.pdf |
Loading...