Bill116th CongressFiled May 15, 2020Taxation
H.R. 6884
FIRST Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (May 15, 2020)
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).
What just happenedMay 15, 2020
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Newhouse, Dan [R-WA-4](R-WA)Sponsor
1 cosponsor1 D
1cosponsors1committees3actions2related bills8subjects
- Introduced in HouseMay 15, 2020
- May 15, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - May 15, 2020IntroReferralIntro-H
Introduced in House
- May 15, 2020IntroReferral1000
Introduced in House