S. 4537

Referred to Committee

RECOVERY Act

Introduced 9/8/2020•116th Congress•Senate

Latest Action

Read twice and referred to the Committee on Finance.

9/8/2020 • Senate

Summary

Reinvigorating the Economy, Creating Opportunity for every Vocation, Employer, Retiree & Youth Act or the RECOVERY Act

This bill revises provisions in the tax code; modifies the liability of employers, public officials, and other entities; makes various changes to help schools, employers, and industries respond to COVID-19 (i.e. coronavirus disease 2019); and otherwise addresses economic growth. It also modifies congressional oversight of regulations, including by requiring approval for certain rules.

Among other things, the bill establishes and expands various tax credits, deductions, and exclusions from income for individuals and businesses and temporarily suspends payroll taxes.

Additionally, the bill limits the liability, under some conditions, of employers, health care providers, and other entities for COVID-19 exposures. It also imposes liability on public officials with authority to direct law enforcement agencies for losses that occur in areas that a law enforcement agency has been instructed not to access during riots.

Furthermore, it revises multiple COVID-19 response activities, including by restricting eligibility for unemployment compensation, extending particular business loans and payroll support programs, and establishing sunset dates for spending COVID-19 funds. Additionally, the bill requires the Department of Education to use a specified percentage of COVID-19 funds to support certain scholarship-granting organizations.

It also establishes an alternate approval process for coronavirus drugs and other medical products approved for sale in another country; expands interstate telehealth access; and makes other changes to health insurance plans, health savings accounts, and retirement accounts.

The bill also creates tax incentives and other programs to support mining, petroleum, pharmaceutical, aviation, and other industries.

Introduced in Senate • 9/8/2020

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Topics & Subjects

Policy Area: Health

Academic performance and assessmentsAdministrative law and regulatory proceduresAdvanced technology and technological innovationsAmerican SamoaAppropriationsBank accounts, deposits, capitalBusiness investment and capitalCardiovascular and respiratory healthCivil actions and liabilityCompetition and antitrustCompetitiveness, trade promotion, trade deficitsComputers and information technologyCongressional operations and organizationCongressional oversightCorporate finance and managementDepartment of EnergyDisability assistanceDisaster relief and insuranceDrug safety, medical device, and laboratory regulation

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Related Federal Spending

Sponsor & Cosponsors (1)

Sponsor

Sen. Cruz, Ted [R-TX]

Republican • TX

Bill Journey

Originated in the Senate

Introduced

September 8, 2020

Read twice and referred to the Committee on Finance.

Committee Review

Floor Debate

Passed Chamber

Other Chamber

President

Enacted into Law

Text Versions (1)

Introduced in Senate9/8/2020

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H.R. 3972

Regulations from the Executive in Need of Scrutiny Act of 2019