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Provision Effective 2021 2022 2023 2024 2025 2026 2027 2028 

DIVISION B - PROVIDING RELIEF TO STUDENTS,INSTITUTIONS OF HIGHER EDUCATION, LOCALEDUCATIONAL AGENCIES, AND STATE VOCATIONALREHABILITATION AGENCIES

I. Higher Education Provisions

1. Federal Student Loan Relief ................................................ [1] 321 1,028 --- --- --- --- --- --- 

TOTAL OF DIVISION B..................................................................................................... 321 1,028 --- --- --- --- --- --- 

DIVISION F - REVENUE PROVISIONSTHE "COVID-19 TAX RELIEF ACT OF 2020"

I. Economic Stimulus

A. Additional Recovery Rebates to Individuals - $1,200 for

singles/$2,400 for married filing jointly, and $500 perdependent; phaseout rate of 5% for AGI over $75,000for single/$112,500 for head of household/$150,000 formarried filing jointly; TIN requirement; and paymentsto certain Federal beneficiaries (sunset 12/31/20) [2]........... DOE -306,911 --- --- --- --- --- --- --- 

B. Earned Income Tax Credit

1. Strengthening the earned income tax credit for individuals

with no qualifying children (sunset 12/31/20) [3]................. tyba 12/31/19 -9,603 --- --- --- --- --- --- --- 

2. Taxpayer eligible for childless earned income credit

in case of qualifying children who fail to meet certainidentification requirements [3].............................................. tyba DOE --- -2 -2 -1 -1 -1 -2 -2 

3. Credit allowed in case of certain separated spouses [3]........ tyba DOE --- -21 -21 -22 -23 -25 -25 -27 4. Elimination of disqualified investment income test [3]......... tyba DOE --- -395 -360 -368 -394 -391 -399 -393 5. Application of earned income tax credit in possessions of

the United States [3]............................................................. DOE -82 -702 -720 -736 -753 -770 -785 -801 

6. Temporary special rule for determining earned income for

purposes of earned income tax credit [3].............................. ftybi 2020 -3,110 --- --- --- --- --- --- --- 

ESTIMATED REVENUE EFFECTS OF THE REVENUE PROVISIONS CONTAINED IN THE HEROES ACT,

Fiscal Years 2021 - 2030

[Millions of Dollars] 

AS PASSED BY THE HOUSE OF REPRESENTATIVES ON OCTOBER 1, 2020

(RULES COMMITTEE PRINT 116-66)
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Provision Effective 2021 2022 2023 2024 2025 2026 2027 2028 

C. Child Tax Credit Improvements for 2020 - child tax

credit fully refundable for 2020; advance payments

(sunset 12/31/20); and payments to possessions [3]............. tyba 12/31/19 -22,913 -699 -710 -721 -725 -721 -311 -316 

D. Dependent Care Assistance 

1. Refundability and enhancement of child and dependent

care tax credit (sunset 12/31/20) [3]..................................... tyba 12/31/19 -5,695 --- --- --- --- --- --- --- 

2. Increase in exclusion for employer-provided dependent

care assistance (sunset 12/31/20) [4].................................... tyba 12/31/19 -2 --- --- --- --- --- --- --- 

E. Credits for Paid Sick and Family Leave - extension of

credits; repeal of reduced rate of credit for certain leave;increase in limitations on credits for paid family leave;election to use prior year net earnings from self-employmentin determining average daily self-employment income;Federal, State, and local governments allowed tax credits forpaid sick and paid family and medical leave; certain technicalimprovements; and credits not allowed to certain largeemployers (sunset 2/28/21) [3][5]......................................... [6] -11,387 --- --- --- --- --- --- --- 

F. Deduction of State and Local Taxes - elimination for 2020

limitation on deduction of State and local taxes.................... tpoai tyba 12/31/19 -68,880 3,335 --- --- --- --- --- --- 

Total of Economic Stimulus......................................................................................... -428,583 1,516 -1,813 -1,848 -1,896 -1,908 -1,522 -1,539 II. Provisions to Prevent Business Interruption

1. Improvements to Employee Retention and Rehiring Credit 

(sunset 12/31/20) [3]............................................................. [7] -111,806 --- --- --- --- --- --- --- 

2. Certain loan forgiveness and other business financial

assistance under CARES Act not includible in gross

income.................................................................................. [8]

3. Clarification of treatment of expenses paid or incurred

with proceeds from certain grants and loans......................... [8]

Total of Prevent Business Interruption.......................................................................... -111,806 [9] [9] [9] [9] [9] [9] [9] 

III. Net Operating Losses

1. Limitation on excess business losses of non-corporate

taxpayers restored and made permanent............................... tyba 12/31/17 136,615 -1,773 -793 -394 -202 8,913 24,428 25,517 

2. Certain taxpayers allowed carryback of net operating

losses arising in 2019 and 2020............................................ [10] 55,910 -2,830 -4,457 -6,969 -8,965 -8,979 -6,024 -4,104 

Total of Net Operating Losses....................................................................................... 192,525 -4,603 -5,250 -7,363 -9,167 -66 18,404 21,413 

TOTAL OF DIVISION F...................................................................................................... -347,864 -3,087 -7,063 -9,211 -11,063 -1,974 16,882 19,874 

DIVISION G - RETIREMENT PROVISIONSTHE "EMERGENCY PENSION RELIEF ACT OF 2020"

I. Relief for Multiemployer Pension Plans [3].......................... various

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - 

- - - - - - - - - - - - - - - - - - - - - - - - Estimate Will be Provided by the Congressional B

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - 
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II. Relief for Single Employer Pension Plans

1. Extended amortization for single employer

plans [3][11][12]................................................................... pyba 12/31/19 126 415 870 1,393 2,736 2,061 2,931 2,744 

2. Extension of pension funding stabilization percentages for

single employer plans [3]...................................................... pyba 12/31/19

Total of Relief for Single Employer Pension Plans...................................................... 126 415 870 1,393 2,736 2,061 2,931 2,744 

III. Other Retirement Related Provisions

1. Waiver of required minimum distributions for 2019............ [13] -4,722 -633 267 246 236 264 268 258 

2. Waiver of 60-day rule in case of rollover of otherwise

required minimum distributions in 2019 or 2020.................. tyba 12/31/18

3. Exclusion of benefits provided to volunteer firefighters

and emergency medical responders made permanent........... tyba 12/31/20 -63 -71 -72 -74 -75 -77 -78 -79 

4. Application of special rules to money purchase pension

plans..................................................................................... DOE -71 -15 -7 -1 -1 -1 -1 -1 

5. Modification of special rules for minimum funding

standards for community newspaper plans [3][11][14]......... pyea 12/31/17 36 34 45 46 68 31 52 49 

6. Minimum rate of interest for certain determinations

related to life insurance contracts.......................................... cia 12/31/20 -5 -27 -69 -128 -205 -301 -417 -554 

Total of Other Retirement Related Provisions........................................................... -4,825 -712 164 89 23 -84 -176 -327 

TOTAL OF DIVISION G..................................................................................................... -4,698 -297 1,034 1,482 2,759 1,978 2,755 2,417 

DIVISION H - GIVING RETIREMENT OPTIONS TOWORKERS ACT [3][11].................................................................. variousDIVISION K - HEALTH PROVISIONS

III. Private Insurance Provisions

1. Special enrollment period through exchanges [3][15][16].... DOE -15,394 -4,531 -929 -192 --- --- --- --- 

2. Grants for exchange outreach, education and enrollment

assistance [3][15][16]........................................................... DOE

2. Application of premium tax credit in case of individuals

receiving unemployment compensation during theCOVID-19 public health emergency [3][15][16].................. tyba 12/31/19

3. Increasing accessibility and affordability to qualified health

plans for individuals receiving unemployment compensationduring the COVID-19 emergency period [3][15][16]........... DOE

4. Temporary modification of limitations on reconciliation of tax

credits for coverage under a qualified health plan withadvance payments of such credit [3][15][16]........................ tyba 12/31/19

TOTAL OF DVISION K...................................................................................................... -15,394 -4,531 -929 -192 --- --- --- --- 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division K, Item II

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division G, Item II

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division G, Item II

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division G, Item I

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division K, Item II- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division K, Item II- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division K, Item II
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DIVISION O - COVID-19 HERO ACT

V. Protecting Student Borrowers................................................. DOE 15 16 10 10 10 10 10 10 

TOTAL OF DIVISION O.................................................................................................... 15 16 10 10 10 10 10 10 

 NET TOTAL ............................................................................................. -367,620 -6,871 -6,948 -7,911 -8,294 14 19,647 22,301 

Joint Committee on Taxation -------------------------------------- NOTE: Details may not add to totals due to rounding. The date of enactment is assumed to be October 15, 2020.Legend for "Effective" column: 

DOE = date of enactment ftybi = first taxable year beginning in 

do/a = days on or after pyba = plan years beginning after 

cia = contracts issued after pyea = plan years ending after

[1] Generally effective as if enacted in the CARES Act.[2] The estimated change in net revenues shown here accounts for any rebates sent based on information provided by the Social Security Administration, Veterans Administration

as well as payments to possessions.

[3] Estimate contains the following outlay effects: 2021 2022 2023 2024 2025 2026 2027 2028 

Strengthening the earned income tax credit for individuals with no qualifying

children (sunset 12/31/20).............................................................................................. 8,320 --- --- --- --- --- --- --- 

Taxpayer eligible for childless earned income credit in case of qualifying children

who fail to meet certain identification requirements....................................................... --- 2 2 1 1 1 2 2 

Credit allowed in case of certain separated spouses.......................................................... --- 18 18 19 20 21 21 22 

Elimination of disqualified investment income test........................................................... --- 266 255 262 285 279 278 274 

Application of earned income tax credit in possessions of United States.......................... 82 702 720 736 753 770 785 801 

Temporary special rule for determining earned income for purposes of earned

income tax credit ........................................................................................................... 2,799 --- --- --- --- --- --- --- 

Child Tax Credit Improvements for 2020 - child tax credit fully refundable for 2020; advance payments (sunset 12/31/20); and payments to possessions..................... 22,913 699 710 721 725 721 311 316 

Refundability and enhancement of child and dependent care tax credit

(sunset 12/31/20) .......................................................................................................... 3,518 --- --- --- --- --- --- --- 

Credits for Paid Sick and Family Leave (sunset 2/28/21)................................................. 858 --- --- --- --- --- --- --- 

Improvements to Employee Retention and Rehiring Credit (sunset 12/31/20)................. 12,299 --- --- --- --- --- --- --- 

Relief for multiemployer pension plans............................................................................

Extended amortization for single employer plans [17]..................................................... -18 -75 -176 -323 -1,191 -162 -1,009 -1,214 

Extension of pension funding stabilization percentages for single employer plans...........Modification of special rules for minimum funding standards for

community newspaper plans [17]................................................................................... -9 -10 -15 -19 -46 -4 -29 -33 

Giving Retirement Options to Workers Act.....................................................................Special enrollment period through exchanges [18]........................................................... 6,692 2,566 761 167 --- --- --- --- 

Grants for exchange outreach, education and enrollment assistance [18].........................

[Footnotes for JCX-21-20 continue on the following page]

- - - - - - - - - - - - - - - - - - - Outlay Effects Included in Special enrollment period throu

- - - - - - - - - - - - - - - - - - - - - Outlay Effects Included in Relief for multiemployer pen

- - - - - - - - - - - - - - - - - - - - - Outlay Effects Included in Extend amortization for singl

- - - - - - - - - - - - - - - - - - - - - - - Outlay Effects Will be Provided by the Congressiona
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Footnotes for JCX-21-20 continued:

[3] Estimate contains the following outlay effects (continued): 2021 2022 2023 2024 2025 2026 2027 2028 

Application of premium tax credit in case of individuals receiving unemployment

compensation during the COVID-19 public health emergency [18]..............................

Increasing accessibility and affordability to qualified health plans for individuals receiving

unemployment compensation during the COVID-19 emergency period [18]................

Temporary modification of limitations on reconciliation of tax credits for coverage under

a qualified health plan with advance payments of such credit [18]................................

[4] Estimate includes the following budget effects: 2021 2022 2023 2024 2025 2026 2027 2028 

Total Revenue Effect......................................................................................................... -2 --- --- --- --- --- --- --- 

On-budget effects............................................................................................................ -2 --- --- --- --- --- --- --- 

Off-budget effects........................................................................................................... -1 --- --- --- --- --- --- --- 

[5] Estimate includes revenue effects of Division C, Title I---Amendments to Emergency Family and Medical Leave Expansion Act and Emergency Paid Sick Leave Act.

[6] Generally effective as if included in the provisions of the "Families First Coronavirus Response Act" to which they relate.[7] Effective as if included in section 2301 of the "Coronavirus Aid, Relief, and Economic Security ('CARES') Act."

[8] Effective for taxable years ending after the date of enactment of the CARES Act.[9] No revenue effect.

[10] Effective as if included in section 2303(b) of the CARES Act.

[11] Estimate provided by the Congressional Budget Office.[12] Estimate includes the following budget and outlay effects: 2021 2022 2023 2024 2025 2026 2027 2028 

Total Revenue Effect......................................................................................................... 126 415 870 1,393 2,736 2,061 2,931 2,744 

On-budget effects............................................................................................................ 94 290 580 878 1,242 1,527 1,544 1,218 

Off-budget effects........................................................................................................... 15 51 115 191 303 373 378 312 

[13] Provision shall take effect as if included in the enactment of section 2203 of the CARES Act, except that subparagraph (c)(1) thereof shall be applied by substituting Decembe

December 31, 2019.

[14] Estimate includes the following budget and outlay effects: 2021 2022 2023 2024 2025 2026 2027 2028 

Total Revenue Effect......................................................................................................... 36 34 45 46 68 31 52 49 

On-budget effects............................................................................................................ 23 18 24 21 16 22 18 13 

Off-budget effects........................................................................................................... 4 5 6 6 6 6 5 3 

[15] Estimate includes the following budget and outlay effects: 2021 2022 2023 2024 2025 2026 2027 2028 

Total Revenue Effect......................................................................................................... -15,394 -4,531 -929 -192 --- --- --- --- 

On-budget effects............................................................................................................ -15,611 -4,615 -929 -192 --- --- --- --- 

Off-budget effects........................................................................................................... 217 84 --- --- --- --- --- --- 

[16] Estimate provided by the Joint Committee on Taxation staff in collaboration with the Congressional Budget Office.[17] Outlay effects provided by the Congressional Budget Office.[18] Outlay effects provided by the Joint Committee on Taxation staff in collaboration with the Congressional Budget Office.

- - - - - - - - - - - - - - - - - - - Outlay Effects Included in Special enrollment period throu

- - - - - - - - - - - - - - - - - - - Outlay Effects Included in Special enrollment period throu- - - - - - - - - - - - - - - - - - - Outlay Effects Included in Special enrollment period throu