Small Business PPE Tax Credit Act

2/8/2022, 11:16 PM

Congressional Summary of HR 7216

Small Business PPE Tax Credit Act

This bill allows certain small businesses a tax credit for the cost of qualified personal protective equipment, up to $25,000 in a taxable year. The entities eligible for such credit include farms, nonprofit organizations, veterans organizations, and Tribal business concerns. The bill defines qualified personal protective equipment to include the cost of equipment for reducing the risk of coronavirus (i.e., the virus that causes COVID-19) transmission. including gloves, facial masks and protective gear, and cleaning supplies.

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Current Status of Bill HR 7216

Bill HR 7216 is currently in the status of Bill Introduced since June 15, 2020. Bill HR 7216 was introduced during Congress 116 and was introduced to the House on June 15, 2020.  Bill HR 7216's most recent activity was Referred to the House Committee on Ways and Means. as of June 15, 2020

Bipartisan Support of Bill HR 7216

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
43
Democrat Cosponsors
35
Republican Cosponsors
8
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7216

Primary Policy Focus

Taxation

Potential Impact Areas

Business expensesCardiovascular and respiratory healthEmergency medical services and trauma careFood industry and servicesHealth technology, devices, suppliesIncome tax creditsInfectious and parasitic diseasesMigrant, seasonal, agricultural laborRetail and wholesale tradesSelf-employedSmall businessSocial work, volunteer service, charitable organizationsTravel and tourismVeterans' organizations and recognitionWorker safety and health

Alternate Title(s) of Bill HR 7216

Small Business PPE Tax Credit ActTo amend the Internal Revenue Code of 1986 to provide a tax credit for personal protective equipment to small businesses, non-profits, independent contractors, veterans' organizations, and farmers, among other entities, in any year in which the President declares a national emergency relating to COVID-19.Small Business PPE Tax Credit Act
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Sponsors and Cosponsors of HR 7216

R
Brenda L. Lawrence
Michigan(Democrat)
R
David J. Trone
Maryland(Democrat)
R
Elissa Slotkin
Michigan(Democrat)
R
Mikie Sherrill
New Jersey(Democrat)
R
David Scott
Georgia(Democrat)

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