116-hr-6884116th Congress

FIRST Act

Sponsored By: Representative Newhouse, Dan [R-WA-4]

Unknown

Summary

Fixing the Income Ramifications for Small Businesses and Tax Relief Act or the FIRST Act 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).

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Newhouse, Dan [R-WA-4]

WA • R

Cosponsors

  • Rep. Phillips, Dean [D-MN-3]

    MN • D

    Sponsored 6/4/2020

Roll Call Votes

No roll call votes available for this bill.

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