The U.S. House of Representatives today unveiled additional COVID-19-related legislation—the ‘‘Health and Economic Recovery Omnibus Emergency Solutions Act’’ (HEROES Act) (H.R. 6800).
The legislation contains a number of tax proposals, including several that would be applicable to businesses, such as:
The HEROES Act also includes certain other tax provisions that would apply for individual taxpayers, and would further provide for additional cash payments to be made to individuals.
The House could act on the legislation as soon as Friday, March 15. It is possible that modifications might be made to the version of the bill released today before the House votes.
The outlook for the legislation in the Republican-controlled Senate is uncertain.
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