S 3549
Save America's Main Street Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Save America's Main Street Act provides tax relief to small businesses impacted by the COVID-19 pandemic. It offers a tax credit for qualified businesses, allowing them to deduct up to 30% of their gross receipts or $75,000, and it allows deferral of estimated tax payments. Additionally, the bill creates a payroll tax credit for small businesses to cover wages paid to employees unable to work due to COVID-19. Finally, it modifies estimated tax payments and extends the Employee Retention Credit.
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Primary sponsor
Cosponsors
Benjamin L. Cardin
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