PRIA Logo™
116-hr-6776116th Congress

JOBS Credit Act of 2020

Sponsored By: Representative Murphy, Stephanie N. [D-FL-7]

Unknown

Summary

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.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Murphy, Stephanie N. [D-FL-7]

FL • D

Cosponsors

  • Rep. Gottheimer, Josh [D-NJ-5]

    NJ • D

    Sponsored 7/2/2020

  • Rep. Phillips, Dean [D-MN-3]

    MN • D

    Sponsored 7/2/2020

  • Rep. Panetta, Jimmy [D-CA-19]

    CA • D

    Sponsored 7/2/2020

  • Rep. McBath, Lucy [D-GA-6]

    GA • D

    Sponsored 7/2/2020

  • Rep. Napolitano, Grace F. [D-CA-31]

    CA • D

    Sponsored 7/9/2020

  • Rep. Sherrill, Mikie [D-NJ-11]

    NJ • D

    Sponsored 8/22/2020

  • Rep. Katko, John [R-NY-24]

    NY • R

    Sponsored 5/8/2020

  • Rep. DelBene, Suzan K. [D-WA-1]

    WA • D

    Sponsored 5/8/2020

  • Rep. Fitzpatrick, Brian K. [R-PA-1]

    PA • R

    Sponsored 5/8/2020

  • Rep. Pappas, Chris [D-NH-1]

    NH • D

    Sponsored 5/8/2020

  • PETER KING

    NY • R

    Sponsored 5/12/2020

  • Rep. Rice, Kathleen M. [D-NY-4]

    NY • D

    Sponsored 5/12/2020

  • Rep. Gonzalez, Anthony [R-OH-16]

    OH • R

    Sponsored 5/12/2020

  • Rep. Horsford, Steven [D-NV-4]

    NV • D

    Sponsored 5/12/2020

  • Rep. Herrera Beutler, Jaime [R-WA-3]

    WA • R

    Sponsored 5/12/2020

  • Rep. Kilmer, Derek [D-WA-6]

    WA • D

    Sponsored 5/12/2020

  • Sen. Curtis, John R. [R-UT]

    UT • R

    Sponsored 5/15/2020

  • Rep. Axne, Cynthia [D-IA-3]

    IA • D

    Sponsored 5/15/2020

  • Resident Commissioner González-Colón, Jenniffer [R-PR-At Large]

    PR • R

    Sponsored 6/4/2020

  • Rep. Horn, Kendra S. [D-OK-5]

    OK • D

    Sponsored 6/4/2020

  • Rep. Joyce, David P. [R-OH-14]

    OH • R

    Sponsored 7/2/2020

  • Rep. McAdams, Ben [D-UT-4]

    UT • D

    Sponsored 7/2/2020

  • Rep. Kuster, Ann M. [D-NH-2]

    NH • D

    Sponsored 7/2/2020

  • Rep. Torres Small, Xochitl [D-NM-2]

    NM • D

    Sponsored 8/4/2020

  • Rep. Case, Ed [D-HI-1]

    HI • D

    Sponsored 8/22/2020

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation