The U.S. Senate today, March 18, 2020, passed (by a vote of 90 to 8) H.R. 6201, the “Families First Coronavirus Response Act”—a bill passed by the House on March 17 that includes temporary tax credits for certain employers and self-employed individuals for emergency paid leave.
The staff of the Joint Committee on Taxation (JCT) has estimated that the tax credit provisions in H.R. 6201 would lose approximately $104.9 billion over two years.
The president indicated on March 12, 2020, that he would sign H.R. 6201.
Congress has already begun discussions of further COVID-19 related legislation that could include additional tax provisions.
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