Paycheck Security Act

Summary

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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Timeline

1. 21 May 2020

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 21 May 2020

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 21 May 2020 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 21 May 2020

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 21 May 2020

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 21 May 2020

  Open at official source

Sponsors

• Mark Warner · D · Sponsor
• Bernie Sanders · I · Sponsor
• Sen. Jones, Doug [D-AL] · D · Sponsor
• Richard Blumenthal · D · Sponsor
• Amy Klobuchar · D · Sponsor
• Elizabeth Warren · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• John Reed · D · Sponsor
• Jeff Merkley · D · Sponsor
• Edward Markey · D · Cosponsor
• Sen. Menendez, Robert [D-NJ] · D · Cosponsor
• Richard Durbin · D · Cosponsor
• Sen. Harris, Kamala D. [D-CA] · D · Cosponsor
• Tammy Duckworth · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Paycheck Protection Program Improved Coordination Act of 2020
• related to ← Employer Assistance Coordination Act