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Congress.gov, S.3793, 116th Congress, Paycheck Security Act

Summary

This Congress.gov page covers S.3793, the Paycheck Security Act, a Senate bill of the 116th Congress (2019-2020) sponsored by Sen. Mark R. Warner [D-VA] and introduced 05/21/2020. Its latest action, dated 05/21/2020, is that it was read twice and referred to the Committee on Finance, and its status is Introduced. The CRS summary says the bill modifies and increases the employee retention tax credit, allows a refundable payroll tax credit for employers' operating costs, and provides a rebate in 2020 for certain small businesses and other business entities. It also authorizes additional appropriations, provides for oversight by the Treasury Inspector General for Tax Administration, and requires a Government Accountability Office report on the bill's effectiveness.

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S.3793 - Paycheck Security Act 116th Congress (2019-2020)

Bill

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Sponsor: | Sen. Warner, Mark R. [D-VA] (Introduced 05/21/2020)
Committees: | Senate - Finance
Latest Action: | Senate - 05/21/2020 Read twice and referred to the Committee on Finance. ( All Actions )
Tracker: Tip | This bill has the status Introduced Here are the steps for Status of Legislation: Introduced

More on This Bill

Subject — Policy Area:

- Taxation
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Summary: S.3793 — 116th Congress (2019-2020) All Information (Except Text)

There is one summary for S.3793. Bill summaries are authored by CRS .

Shown Here: Introduced in Senate (05/21/2020)

Paycheck Security Act

This bill modifies and increases the employee retention tax credit, allows a refundable payroll tax credit for the operating costs of employers, and provides a rebate in 2020 for certain small businesses and other business entities.

The bill also authorizes additional appropriations to carry out the provisions of this bill and to provide for oversight by the Inspector General for Tax Administration of the Department of the Treasury. The Government Accountability Office must report on the effectiveness of the operative provisions of this bill.

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