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.
View on Congress.gov