HR 8988
Save Jobs During the Pandemic Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Save Jobs During the Pandemic Act of 2020 temporarily changes the rules for a tax called the Base Erosion Minimum Tax (BEAT). This bill reduces the BEAT rate to zero percent for the tax year ending in 2020, specifically for large corporations that have deductions related to payments to foreign entities. This change is intended to provide relief during the COVID-19 pandemic and reduce the tax burden on these businesses.
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Primary sponsor
Cosponsors
Peter T. King
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