# 116-hr-8656: Small Business Emergency Savings Accounts Act of 2020

116-hr-8656, Small Business Emergency Savings Accounts Act of 2020, is a 116th Congress bill sponsored by Rep. Cloud, Michael [R-TX-27] (R-TX); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-8656
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-8656
- Congress: 116
- Title: Small Business Emergency Savings Accounts Act of 2020
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2020-10-23
- Sponsor: Rep. Cloud, Michael [R-TX-27] (R-TX)
- Cosponsors: 3
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Small Business Emergency Savings Accounts Act of 2020 This bill allows a new tax deduction from gross income for amounts paid into a small business emergency savings account. Such savings accounts are established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary. The bill defines qualified disaster and public health emergency expenses as disaster loss replacement expenses, disaster recovery operations expenses, and public health emergency expenses.

## Cosponsors (3)

- Rep. Weber, Randy K. Sr. [R-TX-14] (R-TX), 2020-10-23T00:00:00.000Z
- Rep. Gohmert, Louie [R-TX-1] (R-TX), 2020-10-23T00:00:00.000Z
- Rep. King, Steve [R-IA-4] (R-IA), 2020-10-23T00:00:00.000Z

## Related bills

- 116-hr-8657: Emergency Savings Accounts Act of 2020
- 116-hr-8353: Women’s Public Health and Safety Act
- 116-hr-6742: Protecting Life in Crisis Act
- 116-hr-6338: Pandemic Healthcare Access Act
- 116-hr-3495: Improve Well-Being for Veterans Act
- 116-hr-748: CARES Act

## Sources
- [116-hr-8656 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/8656)

## Related
- [116-hr-8657: Emergency Savings Accounts Act of 2020](https://policyrisk.com/legislation/116-hr-8657)
- [116-hr-8353: Women’s Public Health and Safety Act](https://policyrisk.com/legislation/116-hr-8353)
- [116-hr-6742: Protecting Life in Crisis Act](https://policyrisk.com/legislation/116-hr-6742)
- [116-hr-6338: Pandemic Healthcare Access Act](https://policyrisk.com/legislation/116-hr-6338)
- [116-hr-3495: Improve Well-Being for Veterans Act](https://policyrisk.com/legislation/116-hr-3495)
- [116-hr-748: CARES Act](https://policyrisk.com/legislation/116-hr-748)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-8656 (as of 2025-11-18).