summary
Introduced
02/10/2022
02/10/2022
In Committee
02/10/2022
02/10/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to temporarily reinstate the employee retention credit for employers sub- ject to closure due to COVID-19.
AI Summary
This bill aims to temporarily reinstate the employee retention credit (ERC) for employers who were subject to closure due to COVID-19. Specifically, it amends the Internal Revenue Code to extend the ERC, which was previously set to expire on October 1, 2021 (or January 1, 2022, for eligible recovery startup businesses), to now be available for calendar quarters beginning after September 30, 2021. The ERC is a tax credit that was introduced as part of the government's COVID-19 relief efforts to help businesses retain their employees during the pandemic.
Committee Categories
Budget and Finance
Sponsors (14)
Maggie Hassan (D)*,
Sherrod Brown (D),
Shelley Moore Capito (R),
Ben Cardin (D),
Patrick Leahy (D),
Roger Marshall (R),
Lisa Murkowski (R),
Gary Peters (D),
Bernie Sanders (I),
Tim Scott (R),
Jeanne Shaheen (D),
Chris Van Hollen (D),
Mark Warner (D),
Raphael Warnock (D),
Last Action
Read twice and referred to the Committee on Finance. (on 02/10/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/3625/all-info |
| BillText | https://www.congress.gov/117/bills/s3625/BILLS-117s3625is.pdf |
| Bill | https://www.congress.gov/117/bills/s3625/BILLS-117s3625is.pdf.pdf |
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