Coronavirus Stimulus Bill, Federal Tax

Status Update on the Additional COVID-19 Relief Bill

A cloud of uncertainty continues to surround another COVID-19 relief bill. Senate Majority Leader Mitch McConnell (R-Ky) has said he is unsure if negotiators for another COVID-19 relief bill will reach an agreement. The main sticking point has been the size and cost of the bill. The HEROES Act, passed in May by the U.S. House, has a $3.4 trillion price tag. Democrats are now calling for a $2.2 trillion measure, while Republicans say $1 trillion is their maximum. Senate GOP leaders are now discussing a slimmed down COVID-19 package costing between $500 billion and $700 billion which, if approved by the Senate, is expected to go nowhere in the House. Stay tuned for continuing developments. Please feel free to contact Cg with questions in the meantime. © 2020