Coronavirus Stimulus Bill, Federal Tax

Update on New COVID-19 Assistance Package

Congressional negotiators have reached an agreement on a COVID-19 assistance package. The $900 billion deal will provide a second round of direct payments and boost unemployment benefits. The direct payments will be up to $600 to individuals under a certain income threshold, and an additional $600 per child. Tax “extenders” are also included, as well as health provisions and more money for Paycheck Protection Program (PPP) loans. However, state and local aid and a liability shield for businesses are not included. Lawmakers are expected to vote on the bill and send it to President Trump to sign into law.

We will keep you apprised of any updates. Feel free to contact the Cg Team with questions. © 2020