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United States · Bill · HR

H.R. 6776 (116th)

JOBS Credit Act of 2020

referredUnited States· United States Congress· EN

Introduced

8 May 2020

Last action

8 May 2020 · Introduced

Status

Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsors

Rep. Murphy, Stephanie N. [D-FL-7], Rep. Katko, John [R-NY-24], Rep. DelBene, Suzan K. [D-WA-1], Rep. Fitzpatrick, Brian K. [R-PA-1], Rep. Pappas, Chris [D-NH-1], Rep. King, Peter T. [R-NY-2], Rep. Rice, Kathleen M. [D-NY-4], Anthony Gonzalez, Rep. Horsford, Steven [D-NV-4], Rep. Herrera Beutler, Jaime [R-WA-3], Rep. Kilmer, Derek [D-WA-6], Sen. Curtis, John R. [R-UT], Rep. Axne, Cynthia [D-IA-3], Rescom. González-Colón, Jenniffer [R-PR-At Large], Rep. Horn, Kendra S. [D-OK-5], Rep. Joyce, David P. [R-OH-14], Rep. McAdams, Ben [D-UT-4], Rep. Kuster, Ann M. [D-NH-2], Rep. Gottheimer, Josh [D-NJ-5], Rep. Phillips, Dean [D-MN-3], Rep. Panetta, Jimmy [D-CA-19], Rep. McBath, Lucy [D-GA-6], Rep. Napolitano, Grace F. [D-CA-32], Rep. Torres Small, Xochitl [D-NM-2], Rep. Case, Ed [D-HI-1], Rep. Sherrill, Mikie [D-NJ-11]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Jumpstarting Our Businesses' Success Credit Act of 2020 or the JOBS Credit Act of 2020 This bill increases the employer tax credit for the retention of employees and coordinates such credit with the Payroll Protection Program. Specifically, it increases the rate of the employee retention credit to 80% of up to $15,000 in employee wages per calendar quarter with an increased annual wage cap of $45,000 for all calendar quarters. The bill increases the maximum credit amount to $36,000. The bill expands the definition of large employer, for credit eligibility purposes, to include employers with more than 1,500 employees and more than $41.5 million in gross receipts in 2019, and requires employers to show a significant decline in gross receipts. It also extends eligibility for the credit to state governmental agencies and Indian tribal governments. The bill also coordinates the credit with the Paycheck Protection Program to allow employers to claim both programs subject to certain restrictions.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 8 May 2020

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 8 May 2020

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  3. 8 May 2020

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 8 May 2020

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  • Introduced in House (PDF)

    Introduced in House · EN · 8 May 2020

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  • Introduced in House

    summary · EN · 8 May 2020

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Sponsors

Related records

Sources

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