DC Tax Flash: President Signs Virus Relief Reconciliation Bill Into Law
Acting sooner than expected, President Biden today signed into law virus relief reconciliation legislation (H.R. 1319). The $1.9 trillion package includes a number of tax provisions affecting business, which are summarized in a prior Tax Flash.
The following documents provide more information on the legislation signed into law today:
- 627-page text of the final version of the legislation
- Title-by-title summary of the bill issued by Senate Democrats
- Summary of Senate changes made to the bill issued by Senate Democrats
- Fact sheet issued by House Speaker Nancy Pelosi (D-CA)
- Joint Committee on Taxation revenue estimate of the tax provisions in the bill
- Congressional Research Service report on the bill's tax provisions
President Biden plans to address the nation this evening at 8:00 PM (EST) to mark the one-year point since COVID-19 was declared a global pandemic by the World Health Organization. He is expected to hail passage of his virus relief priorities in the new law and outline the next steps the Administration will take to address economic uncertainties.
Miller & Chevalier Coronavirus Task Force
The outbreak of COVID-19 is creating significant business and legal challenges for companies throughout the world. In response to client demand, the firm has formed an interdisciplinary task force to help businesses navigate these issues.
This, and related communications, are protected by copyright laws and treaties. You may make a single copy for personal use. You may make copies for others, but not for commercial purposes. If you give a copy to anyone else, it must be in its original, unmodified form, and must include all attributions of authorship, copyright notices, and republication notices. Except as described above, it is unlawful to copy, republish, redistribute, and/or alter this presentation without prior written consent of the copyright holder.