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DC Tax Flash: House Revises Just-Passed Virus Bill

Tax Alert

The House this evening approved an amendment modifying its earlier version of coronavirus response legislation (H.R. 6201) that initially passed the House early on Saturday. The modification was approved via unanimous consent. 

​The text of the revised version approved this evening by the House is posted here

​The Joint Committee on Taxation (JCT) just issued a revenue estimate for the bill as initially approved by the House. It predicts that the bill's provisions to provide tax credits to certain employers to provide paid sick and family care leave for the year will decrease federal revenue by $104.8 billion. The JCT revenue estimate is posted here.

The Senate is expected to begin consideration of the revised House-passed bill tomorrow.

Senate Finance Committee Chairman Charles Grassley (R-IA) issued a statement today noting that: "A forthcoming phase three package is under development between several committees in the Senate to help families and businesses with immediate cash-flow needs to get through the immediate crisis and provide a broader economic stimulus for Americans and industries across the country. It will include targeted measures to ensure workers and businesses nationwide can weather this temporary but unprecedented disruption." The full text of the Chairman's statement is posted here.



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