US HB6884 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on May 15 2020 - 25% progression, died in committee
Action: 2020-05-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 15 2020 - 25% progression, died in committee
Action: 2020-05-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Coronavirus Aid, Relief, and Economic Security Act to provide that tax deductions for ordinary business expenses and other tax incidents shall not be affected by the exclusion from gross income of amounts related to loan forgiveness received in response to COVID-19 (i.e., coronavirus disease 2019).
Title
FIRST Act Fixing the Income Ramifications for Small Businesses and Tax Relief Act
Sponsors
Rep. Dan Newhouse [R-WA] | Rep. Dean Phillips [D-MN] |
History
Date | Chamber | Action |
---|---|---|
2020-05-15 | House | Referred to the House Committee on Ways and Means. |
2020-05-15 | House | Introduced in House |
Same As/Similar To
HB6821 (Related) 2020-05-12 - Referred to the House Committee on Ways and Means.
SB3612 (Related) 2020-05-05 - Read twice and referred to the Committee on Finance.
SB3612 (Related) 2020-05-05 - Read twice and referred to the Committee on Finance.
Subjects
Business expenses
Cardiovascular and respiratory health
Emergency medical services and trauma care
Government lending and loan guarantees
Income tax deductions
Income tax exclusion
Infectious and parasitic diseases
Small business
Taxation
Cardiovascular and respiratory health
Emergency medical services and trauma care
Government lending and loan guarantees
Income tax deductions
Income tax exclusion
Infectious and parasitic diseases
Small business
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/6884/all-info |
Text | https://www.congress.gov/116/bills/hr6884/BILLS-116hr6884ih.pdf |