HR 7473
Main Street Revival Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Main Street Revival Act of 2020 allows certain small businesses, specifically HUBZone businesses that aren't expected to employ more than 25 full-time employees in their first year, to pay their first-year employment taxes in four equal installments over a year. If certain events occur, such as a tax addition or business liquidation, the remaining installments become due immediately. The bill also ensures that trust funds for Social Security remain unaffected.
Sponsors
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Primary sponsor
Cosponsors
Harley Rouda
John Katko
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