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Save America's Main Street Act
2/9/2022, 12:28 AM
Congressional Summary of S 3549
Save America's Main Street Act
This bill allows (1) certain small businesses ($1 million or less in gross receipts and not more than 50 full time employees) a tax credit for the lesser of 30% of their gross receipts or $75,000 for the first taxable year beginning in 2020, (2) deferral of estimated tax payments for such businesses, and (3) certain small business employers a payroll tax credit for 50% of wages paid to their employees unable to work due to COVID-19 (i.e., the coronavirus disease 2019).
Read the Full Bill
Current Status of Bill S 3549
Bill S 3549 is currently in the status of Bill Introduced since March 20, 2020. Bill S 3549 was introduced during Congress 116 and was introduced to the Senate on March 20, 2020. Bill S 3549's most recent activity was Read twice and referred to the Committee on Finance. as of March 20, 2020
Bipartisan Support of Bill S 3549
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
2Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3549
Primary Policy Focus
TaxationPotential Impact Areas
- Appropriations
- Cardiovascular and respiratory health
- Disability assistance
- Disaster relief and insurance
- Emergency medical services and trauma care
- Employee benefits and pensions
- Employment taxes
- Government trust funds
- Income tax credits
- Infectious and parasitic diseases
- Railroads
- Small business
- Social security and elderly assistance
- Social work, volunteer service, charitable organizations
- Tax administration and collection, taxpayers
- Tax-exempt organizations
- Transportation employees
- Unemployment
- Wages and earnings
Alternate Title(s) of Bill S 3549
Save America's Main Street Act
Save America's Main Street Act
A bill to amend the Internal Revenue Code of 1986 to provide advance tax refunds to small businesses, and for other purposes.
Comments
Sponsors and Cosponsors of S 3549
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