Bill > S3793

Introduced Session

A bill to amend the CARES Act to modify the employee retention tax credit to secure the paychecks and benefits of workers, to provide a refundable credit against payroll taxes for the operating costs of employers, to amend the Internal Revenue Code of 1986 to provide a small business rebate, and for other purposes. This bill modifies and increases the employee retention tax credit, allows a refundable payroll tax credit for the operating costs of employers, and provides a rebate in 2020 for certain small businesses and other business entities. The bill also authorizes additional appropriations to carry out the provisions of this bill and to provide for oversight by the Inspector General for Tax Administration of the Department of the Treasury. The Government Accountability Office must report on the effectiveness of the operative provisions of this bill.

Committee Categories

Mark Warner (D)*,  Richard Blumenthal (D),  Tammy Duckworth (D),  Dick Durbin (D),  Dianne Feinstein (D),  Kamala Harris (D),  Doug Jones (D),  Amy Klobuchar (D),  Ed Markey (D),  Bob Menendez (D),  Jeff Merkley (D),  Jack Reed (D),  Bernie Sanders (I),  Elizabeth Warren (D), 

Read twice and referred to the Committee on Finance. (on 05/21/2020)

Official Document