H.R. 6776 · 116th Congress
JOBS Credit Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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MurphySponsor25 cosponsors · 17 D, 8 R
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DelBene
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Fitzpatrick
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Katko
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Pappas
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Gonzalez
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Herrera Beutler
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Horsford
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King
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Kilmer
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Rice
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Axne
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Curtis
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González-Colón
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Horn
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Gottheimer
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Joyce
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Kuster
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McBath
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McAdams
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Panetta
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Phillips
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Napolitano
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Torres Small
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Case
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Sherrill4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Jumpstarting Our Businesses' Success Credit Act of 2020 or the JOBS Credit Act of 2020
What it does: CRS summary · Introduced in House · May 8, 2020
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: JOBS Credit Act of 2020
Also known as: Jumpstarting Our Businesses’ Success Credit Act of 2020
Latest action (May 8, 2020): 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.
Policy area: Taxation · Origin: House · Introduced: May 8, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.