S. 4268

Referred to Committee

Employer Assistance Coordination Act

Introduced 7/22/2020•116th Congress•Senate

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Read twice and referred to the Committee on Finance.

7/22/2020 • Senate

Summary

Employer Assistance Coordination Act

This bill permits certain small employers who participate in the Payroll Protection Program established to assist such employers adversely affected by the COVID-19 (i.e., coronavirus disease 2019) public health emergency to also claim the refundable employee retention tax credit if their businesses have experienced a significant reduction in revenue or have closed pursuant to a government order. The bill prohibits employers from using funds from both programs based upon the same wages paid to their employees.

Introduced in Senate • 7/22/2020

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Topics & Subjects

Policy Area: Taxation

Business expensesCardiovascular and respiratory healthEmergency medical services and trauma careEmployment taxesGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessWages and earnings