Small Business Expense Protection Act of 2020
Latest action · May 5, 2020 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 5, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Small Business Expense Protection Act of 2020
This bill amends the Coronavirus Aid, Relief, and Economic Security Act to provide that tax deductions for ordinary business expenses and other tax incidents shall not be affected by the exclusion from gross income of amounts related to loan forgiveness received in response to COVID-19 (i.e., coronavirus disease 2019).
Cosponsors 41
Members who signed on, in the order they did. Signatures ran from May 5, 2020 to Dec 15, 2020; 4 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-IA | Chuck Grassley | Original | May 5, 2020 |
| R-FL | Marco Rubio | Original | May 5, 2020 |
| D-OR | Ron Wyden | Original | May 5, 2020 |
| D-DE | Thomas R. Carper | Original | May 5, 2020 |
| D-NV | Catherine Cortez Masto | May 6, 2020 | |
| R-MT | Steve Daines | May 6, 2020 | |
| D-AL | Doug Jones | May 11, 2020 | |
| D-NV | Jacky Rosen | May 11, 2020 | |
| R-ID | James E. Risch | May 11, 2020 | |
| R-SD | John Thune | May 11, 2020 | |
| R-ID | Mike Crapo | May 11, 2020 | |
| R-LA | Bill Cassidy | May 13, 2020 | |
| D-CT | Richard Blumenthal | May 13, 2020 | |
| R-MS | Roger F. Wicker | May 13, 2020 | |
| R-OK | James Lankford | May 19, 2020 | |
| D-OR | Jeff Merkley | May 19, 2020 | |
| R-KS | Jerry Moran | May 21, 2020 | |
| R-NC | Richard Burr | May 21, 2020 | |
| R-WV | Shelley Moore Capito | May 21, 2020 | |
| R-SD | Mike Rounds | Jun 1, 2020 | |
| R-KS | Pat Roberts | Jun 1, 2020 | |
| R-CO | Cory Gardner | Jun 3, 2020 | |
| R-NE | Deb Fischer | Jun 3, 2020 | |
| R-TN | Marsha Blackburn | Jul 20, 2020 | |
| R-AZ | Martha McSally | Jul 20, 2020 | |
| R-WY | Michael B. Enzi | Jul 23, 2020 | |
| R-MO | Roy Blunt | Jul 23, 2020 | |
| R-GA | Kelly Loeffler | Jul 27, 2020 | |
| R-LA | John Kennedy | Jul 30, 2020 | |
| I-AZ | Kyrsten Sinema | Aug 4, 2020 | |
| R-AK | Lisa Murkowski | Aug 5, 2020 | |
| R-WY | John Barrasso | Sep 8, 2020 | |
| R-ND | Kevin Cramer | Sep 8, 2020 | |
| R-NC | Thom Tillis | Sep 8, 2020 | |
| R-ME | Susan M. Collins | Nov 18, 2020 | |
| D-NJ | Robert Menendez | Dec 7, 2020 | |
| D-WI | Tammy Baldwin | Dec 7, 2020 | |
| R-IN | Todd Young | Dec 11, 2020 | |
| D-MI | Debbie Stabenow | Dec 14, 2020 | |
| D-OH | Sherrod Brown | Dec 14, 2020 | |
| D-MN | Amy Klobuchar | Dec 15, 2020 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred May 5, 2020 |
Actions 2
Everything that happened, newest first.
- May 5, 2020Introduced in Senate
- May 5, 2020Read twice and referred to the Committee on Finance.
In the Congressional Record 3
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S4686 | John Cornyn R-TX | Aug 4, 2020 |
| Senate | Debate and remarks S2788 | John Cornyn R-TX | Jun 9, 2020 |
| Senate | Debate and remarks S2264 | John Cornyn R-TX | May 6, 2020 |
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 3596 | Safeguarding Small Business Act | Related bill | May 4, 2020 |
| HR 6821 | Small Business Expense Protection Act of 2020 | Identical bill | May 12, 2020 |
| HR 6884 | FIRST Act | Related bill | May 15, 2020 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to clarify for purposes of the Internal Revenue Code of 1986 that receipt of coronavirus assistance does not affect the tax treatment of ordinary business expenses.
- Short Title(s) as Introduced
- Small Business Expense Protection Act of 2020
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 5, 2020Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
