A bill to make technical corrections to the CARES Act to remove all tax liability associated with loan forgiveness under the Paycheck Protection Program.
About This Bill
Committee
Latest Action · May 4, 2020
Read twice and referred to the Committee on Finance.
Safeguarding Small Business Act
This bill amends the Coronavirus Aid, Relief, and Economic Security Act to provide that otherwise tax deductible expenses and other tax incidents shall not be affected by the exclusion from gross income of amounts related to loan forgiveness received in response to COVID-19 (i.e., coronavirus disease 2019).
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