Take Responsibility for Workers and Families Act: Division T--Revenue Provisions [March 24, 2020]   [open pdf - 965KB]

From the Document: "A number of recently introduced legislative proposals seek to alleviate the adverse economic effects of the COVID-19 [coronavirus disease 2019] outbreak. One such proposal, the Take Responsibility for Workers and Families Act (H.R. 6379), was introduced in the House on March 23, 2020. The proposal includes a number of provisions that would change the tax system, including modifications that would [1] provide a one-time payment to households; [2] temporarily expand the earned income tax credit, child tax credit, and dependent care tax credit; [3] provide employer payroll tax credits for certain hospital expenses and for expanded sick and family leave programs; [4] modify the tax treatment of certain retirement fund withdrawals; and [5] allow net operating loss carrybacks for businesses. This report briefly summarizes the major provisions included in Titles I through IV of Division T of H.R. 6379."