DC Tax Flash: Massive Virus Rescue Bill Clears Senate, House Votes Friday

Tax Alert

The Senate this evening approved bipartisan legislation (H.R. 748) that would deliver unprecedented financial support to individuals and businesses idled by the coronavirus outbreak. The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed without opposition on a vote of 96-0.

The bill now goes to the House for consideration on Friday. House leaders advised members that "due to the limited flight options, Members participating in self-quarantine, and several states mandating stay-at-home orders, we expect the bill to pass by voice vote on Friday." 

Senate Majority Leader Mitch McConnell (R-KY) said that the Senate will adjourn until April 20, 2020, noting that he stands ready to call the Senate back to session with 24 hours notice if needed to address important developments.

The text of the CARES Act is posted here. Please note that this version has been revised to reflect several technical changes and is more current than the version released Wednesday evening.

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