This weekly newsletter outlines the latest developments in Washington, including major tax, small business and financial services developments in the negotiations on Phase Four legislation and regulatory guidance from various...more
This evening, the Treasury Department and the Internal Revenue Service (IRS) issued guidance (Notice 2020-65) implementing President Trump’s Aug. 8, 2020 presidential memorandum allowing the deferral of withholding, deposit...more
9/1/2020
/ Coronavirus/COVID-19 ,
Eviction ,
Executive Orders ,
Infectious Diseases ,
Moratorium ,
Payroll Taxes ,
Popular ,
Relief Measures ,
Social Security ,
Student Loans ,
Tax Deferral ,
Trump Administration ,
Unemployment Benefits
What to Expect—the Next Economic Recovery Package -
Hear Ye, Here Ye! On Saturday, President Trump took executive action to defer payroll taxes, set up an assistance program for lost wages to supplement unemployment...more
On Saturday, Aug. 8, 2020, President Donald Trump signed four executive orders (EO) to defer payroll taxes, set up an assistance program for lost wages to supplement unemployment benefits, extend the federal moratorium on...more
8/12/2020
/ Coronavirus/COVID-19 ,
Eviction ,
Executive Orders ,
Infectious Diseases ,
Moratorium ,
Payroll Taxes ,
Relief Measures ,
Social Security ,
Student Loans ,
Tax Deferral ,
Trump Administration ,
Unemployment Benefits
The July 27, 2020, Senate draft of the Health, Economic Assistance, Liability Protection and Schools (“HEALS”) Act provides a tax credit for employers who incur certain expenses in response to COVID-19. Referred to as the...more
On Monday, July 27, Senate Majority Leader Mitch McConnell (R-KY) released a $1 trillion stimulus package in response to the ongoing effects of the COVID-19 pandemic. The Brownstein Tax Policy Team has summarized the...more
On Monday, July 27, Senate Majority Leader Mitch McConnell (R-KY) released the Health, Economic Assistance, Liability and Schools (HEALS) Act—a $1 trillion stimulus package in response to the ongoing effects of the COVID-19...more
This weekly newsletter outlines the latest developments in Washington, including major tax, small business and financial services developments in the negotiations on Phase Four legislation and regulatory guidance from various...more
On June 22, House Democrats released the text of H.R. 2, the Moving Forward Act, a $1.5 trillion comprehensive infrastructure package. In addition to funding traditional infrastructure priorities—surface transportation, rail...more
Welcome back to Infrastructure Week! This weekly newsletter outlines the latest developments in Washington, including major tax, small business and financial services developments in the negotiations on Phase Four legislation...more
Congress continues to debate legislative proposals related to the next COVID-19 package, though a final package is not expected until late July. This weekly newsletter outlines the latest developments in Washington, including...more
Last week, House Democrats unveiled and passed the Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES) Act, a $3 trillion stimulus package to address the effects of COVID-19 on businesses, state and local...more
On May 12, House Democrats unveiled the Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES) Act. Democratic leadership intends to bring the legislation to the floor for a vote on Friday. The bill is the...more
As an increasing number of governors plan to reopen state economies, Congress is under pressure to pass a fourth stimulus package to help businesses and individuals navigate economic recovery. This weekly newsletter outlines...more
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides assistance to small businesses impacted by COVID-19. Congress did not, however, provide a one-size-fits-all solution. Instead, small businesses must...more
4/3/2020
/ Business Opportunities ,
CARES Act ,
Coronavirus/COVID-19 ,
Debt Relief ,
Economic Injury Disaster Loans ,
Employee Benefits ,
Employee Retention ,
Federal Loans ,
Financial Stimulus ,
Liquidity ,
Net Operating Losses ,
Paid Leave ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
Retirement Funds ,
SBA ,
Small Business ,
Tax Credits ,
Tax Deductions ,
Tax Deferral ,
Tax Relief ,
Unemployment Benefits ,
Wage and Hour
The CARES Act includes several tax provisions for businesses. Most of these provisions are designed to provide businesses immediate (or near term) liquidity, but one major provision provides incentives to retain employees who...more
On March 25, the Senate approved a $2 trillion stimulus package, the Coronavirus Aid, Relief, and Economic Security Act, to address the economic and health impacts of the COVID-19 pandemic. The bill now moves to the House for...more
As the U.S. economy grinds to a halt, the Senate’s Phase Three negotiations have continued past the Republicans’ self-imposed deadline. In the meantime, House Democrats have unveiled Phase Three legislation of their own,...more
On Thursday, March 19, Senate Republicans unveiled the Coronavirus Aid, Relief and Economic Security (CARES) Act (S.5348), their opening bid for Phase Three relief negotiations. This memo provides a summary and analysis of...more
With Phases One and Two of the economic stimulus now complete, Senate Republicans made the opening move in Phase Three negotiations with the introduction of the CARES Act. House Democrats are preparing to unveil their own...more
At today’s White House Coronavirus Task Force press briefing, Treasury Secretary Steven Mnuchin announced that earlier in the day, President Trump approved a 90-day extension of the tax filing deadline, subject to the...more
Lawmakers are now negotiating two legislative packages—the Families First Coronavirus Response Act (H.R.6201) and a third stimulus bill that remains in the drafting phase—aimed at spurring the U.S. economy and helping...more
The Treasury Department released a document outlining the key terms of its negotiations on the upcoming third phase of the congressional economic stimulus package. Below are the terms as outlined by the department...more
As lawmakers continue negotiating the Phase Two and Phase Three economic stimulus packages, the Trump administration has further refined its own plan, which now includes extending the tax payment deadline and providing checks...more
On March 16th, lawmakers introduced a set of technical corrections to the Families First Coronavirus Response Act (H.R.6201), which passed the House early Saturday morning....more