US SB3549 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on March 20 2020 - 25% progression
Action: 2020-03-20 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Save America's Main Street Act This bill allows (1) certain small businesses ($1 million or less in gross receipts and not more than 50 full time employees) a tax credit for the lesser of 30% of their gross receipts or $75,000 for the first taxable year beginning in 2020, (2) deferral of estimated tax payments for such businesses, and (3) certain small business employers a payroll tax credit for 50% of wages paid to their employees unable to work due to COVID-19 (i.e., the coronavirus disease 2019).

Tracking Information

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Title

Save America's Main Street Act

Sponsors


History

DateChamberAction
2020-03-20SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB6619 (Related) 2020-04-24 - Referred to the House Committee on Ways and Means.

Subjects


US Congress State Sources


Bill Comments

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