JOINT 

Provision Effective 2020 2021 2022 2023 2024 2025 2026 2027 2028 

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

I. Economic Stimulus

A. 2020 Recovery Rebate Improvements - include $500 rebates

for dependents; replace Social Security Number ("SSN")requirement with a taxpayer identification number ("TIN")requirement; 2020 recovery rebates not subject to reductionor offset with respect to past-due support; protection of2020 recovery rebates; payments to representative payeesand fiduciaries; and application to taxpayers with respect towhom advance payment has already been made (sunset12/31/20).............................................................................. [1] & DOE -20,410 -2,268 --- --- --- --- --- --- --- 

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

singles/$2,400 for married filing jointly, and $1,200 perdependent (maximum of 3); phaseout rate of 5% for AGIover $75,000 for single/$112,500 for head ofhousehold/$150,000 for married filing jointly; TINrequirement; and payments to certain Federal beneficiaries(sunset 12/31/20) [2]............................................................ DOE -404,276 -8,251 --- --- --- --- --- --- --- 

C. 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 --- -10,140 --- --- --- --- --- --- --- 

2. Taxpayer eligible for childless earned income credit

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

3. Credit allowed in case of certain separated spouses [3]....... tyba DOE --- --- -22 -23 -24 -26 -27 -28 -29 4. Elimination of disqualified investment income test [3]........ tyba DOE --- --- -391 -372 -396 -406 -425 -447 -445 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 --- --- --- --- --- --- --- 

D. Child Tax Credit - child tax credit fully refundable;

include 17 year olds; $3,000 credit amount ($3,600 ifchild younger than 6 years old) (sunset 12/31/20); andpayments to possessions [3]................................................. tyba 12/31/19 -4,420 -108,775 -768 -833 -899 -906 -954 -311 -316 

ESTIMATED BUDGET EFFECTS OF THE REVENUE PROVISIONS CONTAINED IN H.R. 6800,

THE "HEALTH AND ECONOMIC RECOVERY OMNIBUS EMERGENCY SOLUTIONS ('HEROES') ACT,"

AS PASSED BY THE HOUSE OF REPRESENTATIVES ON MAY 15, 2020

Fiscal Years 2020 - 2030

[Millions of Dollars] 
Page 2

Provision Effective 2020 2021 2022 2023 2024 2025 2026 2027 2028 

E. Dependent Care Assistance 

1. Refundability and enhancement of child and dependent

care tax credit (sunset 12/31/20) [3]..................................... tyba 12/31/19 -112 -5,577 --- --- --- --- --- --- --- 

2. Increase in exclusion for employer-provided dependent

care assistance (sunset 12/31/20) [4].................................... tyba 12/31/19 -35 -141 --- --- --- --- --- --- --- 

F. Flexibility for Certain Employee Benefits

1. Increase in carryover for health flexible spending

arrangements [5].................................................................. DOE 15 225 94 --- --- --- --- --- --- 

2. Carryover for dependent care flexible spending

arrangements [6].................................................................. DOE --- 217 54 --- --- --- --- --- --- 

3. Carryover of paid time off.................................................... DOE4. Change in election amount................................................... DOE5. Extension of grace periods, etc............................................. DOE6. Plan amendments................................................................. DOE

G. Deduction of State and Local Taxes - Elimination for

2020 and 2021 of Limitation on Deduction of State andLocal Taxes.......................................................................... tpoai tyba 12/31/19 -1,623 -94,360 -44,993 4,381 --- --- --- --- --- 

Total of Economic Stimulus.......................................................................................... -430,861 -232,262 -46,729 2,432 -2,056 -2,092 -2,177 -1,573 -1,593 

II. Additional Relief for Workers

A. Additional Relief

1. Increase in above-the-line deduction for certain expenses

of elementary and secondary school teachers....................... tyba 12/31/19 --- -162 -138 -144 -172 -173 -181 -214 -241 

2. Above-the-line deduction allowed for certain expenses of

first responders..................................................................... tyba 12/31/19 -103 -180 -183 -186 -190 -198 -205 -208 -210 

3. Temporary above-the-line deduction for supplies and

equipment of first responders and COVID-19 front lineemployees (sunset 12/31/20)................................................ tyba 12/31/19 -775 -560 --- --- --- --- --- --- --- 

4. Payroll credit for certain pandemic-related employee

benefit expenses paid by employers (sunset 12/31/20)........ qprebepa 3/12/20 -38,529 -4,316 --- --- --- --- --- --- --- 

B. Tax Credits to Prevent Business Interruption

1. Improvements to employee retention credit 

(sunset 12/31/20).................................................................. [7] -130,970 -32,601 --- --- --- --- --- --- --- 

2. Payroll credit for certain fixed expenses of employers

subject to closure by reason of COVID-19 (sunset12/31/20).............................................................................. qfepoaa 3/12/20 -24,441 -6,110 --- --- --- --- --- --- --- 

3. Business interruption credit for certain self-employed

individuals (sunset 12/31/20)............................................... DOE -17,034 -4,259 --- --- --- --- --- --- --- 

C. Credits for Expanded Paid Sick and Family Leave - 

extension of credits; repeal of reduced rate of credit forcertain leave; increase in limitations on credits for paid family

leave; election to use prior year net earnings fromself-employment in determining average dailyself-employment income; Federal, State, and localgovernments allowed tax credits for paid sick and paidfamily and medical leave; certain technical improvements;and credits not allowed to certain large employers (sunset [8], DOE & 

12/31/21) [3][9].................................................................... wpa DOE -8,588 -20,134 -3,286 --- --- --- --- --- --- 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division B, Item I.F.1. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division B, Item I.F.1. - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division B, Items I.F.1. and I.F- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division B, Items I.F.1. and I.F
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Provision Effective 2020 2021 2022 2023 2024 2025 2026 2027 2028 

D. Other Relief

1. Payroll tax deferral allowed for recipients of certain loan

forgiveness (sunset 12/31/20)............................................... [10] -9,498 -8,091 8,584 8,478 --- --- --- --- --- 

2. Emergency financial aid grants not includible in gross income

and do not reduce educational tax credits [3]....................... qefagma 3/26/20 --- -269 -67 --- --- --- --- --- --- 

3. Certain loan forgiveness and other business financial

assistance under CARES Act not includible in grossincome.................................................................................. [11]

4. Authority to waive certain information reporting

requirements......................................................................... DOE

5. Clarification of treatment of expenses paid or incurred

with proceeds from certain grants and loans........................ [11]

6. Reinstatement of certain protections for taxpayer return

information........................................................................... [12]

Total of Additional Relief for Workers........................................................................ -229,938 -76,682 4,910 8,148 -362 -371 -386 -422 -451 

III. Net Operating Losses

1. Limitation on excess business losses of non-corporate

taxpayers restored and made permanent............................... tyba 12/31/17 64,160 72,455 -1,773 -793 -394 -202 8,913 24,428 25,517 

2. Certain taxpayers allowed limited carryback of net operating

losses arising in 2019 and 2020 only.................................... [13] 54,181 1,729 -2,830 -4,457 -6,969 -8,965 -8,979 -6,024 -4,104 

Total of Net Operating Losses...................................................................................... 118,341 74,184 -4,603 -5,250 -7,363 -9,167 -66 18,404 21,413 

TOTAL OF DIVISION B ................................................................................................... -542,458 -234,760 -46,422 5,330 -9,781 -11,630 -2,629 16,409 19,369 

DIVISION C - HEALTH PROVISIONS

III. Private Insurance Provisions

1. Worker Health Coverage Protection - Premium Assistance

for COBRA Continuation Coverage and FurloughedContinuation Coverage for Individuals and Their Families cpbo/a 3/1/20 &(sunset 1/31/21) [14]............................................................ tyea DOE -55,699 -42,002 --- --- --- --- --- --- --- 

TOTAL OF DIVISION C.................................................................................................... -55,699 -42,002 --- --- --- --- --- --- --- 

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

I. Relief for Multiemployer Pension Plans [3][15]................... various -31 -6,239 -6,141 -6,138 -6,184 -6,064 -4,827 -4,896 -5,798 

II. Relief for Single Employer Pension Plans

1. Extended amortization for single employer

plans [3][15][16].................................................................. pyba 12/31/19 14 112 415 870 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 ..................................................... 14 112 415 870 1,393 2,736 2,061 2,931 2,744 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division D, Item II.1. - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - - - - - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - - - 
Page 4

Provision Effective 2020 2021 2022 2023 2024 2025 2026 2027 2028 

III. Other Retirement Related Provisions

1. Waiver of required minimum distributions for 2019............ [17] -3,684 -1,688 29 282 260 250 279 284 272 

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

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

3. Employee certification as to eligibility for increased

CARES Act loan limits from employer plans...................... [18]

4. 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 

5. Application of special rules to money purchase pension

plans..................................................................................... DOE 2 -59 -9 -1 -1 -1 -1 -1 -1 

6. Modification of special rules for minimum funding

standards for community newspaper plans [3][15][19]........ pyea 12/31/17 16 21 34 45 46 68 31 52 49 

7. Minimum rate of interest for certain determinations

related to life insurance contracts......................................... cia 12/31/20 --- -8 -38 -92 -160 -242 -334 -438 -553 

Total of Other Retirement Related Provisions ................................................... -3,666 -1,797 -55 162 71 0 -102 -181 -312 

TOTAL OF DIVISION D..................................................................................................... -3,683 -7,924 -5,781 -5,106 -4,720 -3,328 -2,867 -2,146 -3,366 

DIVISION K - COVID-19 HERO ACT

V. Forgiving Student Loan Debt and Protecting Student Borrowers

1. Up to $10,000 write-down of Federal student loans

excluded from income [20].................................................. DOE -158 -15,657 49 146 146 142 139 150 139 

2. No recapture of tax benefits and exclusion from

income for relief for defrauded borrowers [20].................... DOE --- -1 -2 -2 -1 -1 -1 -1 [21] 

TOTAL OF DIVISION K.................................................................................................... -158 -15,658 47 144 145 141 138 149 139 

DIVISION N - GIVING RETIREMENT OPTIONS TOWORKERS ACT [3][15].................................................................. various

DIVISION Q - COVID-19 HEROES FUNDTHE "COVID-19 HEROES FUND ACT OF 2020" [20][14]......... DOE

 NET TOTAL ............................................................................................. -601,998 -300,344 -52,156 368 -14,356 -14,817 -5,358 14,412 16,142 

Joint Committee on Taxation -------------------------------------- NOTE: Details may not add to totals due to rounding. The date of enactment is assumed to be June 1, 2020.

[Legend and Footnotes for JCX-16-20 appear on the following pages]

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division D, Item III.1. - - 

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

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Estimate Included in Division D, Item I.1. - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - - - - - - - 
Page 5

Legend and Footnotes for JCX-16-20:Legend for "Effective" column: 

cpbo/a = coverage period beginning on or after qfepoaa = qualified fixed expenses paid or accrued after t

cia = contracts issued after qprebepa = qualified pandemic-related employee benefit t

DOE = date of enactment expenses paid after t

ftybi = first taxable year beginning in pyba = plan years beginning after wqefagma = qualified emergency financial aid grants made after pyea = plan years ending after

[1] Effective as if included in section 2201 of the "Coronavirus Aid, Relief, and Economic Security ('CARES') Act," (Public Law 116-136).

[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, and Inter

payments to possessions.

[3] Estimates contain the following outlay effects: 2020 2021 2022 2023 2024 2025 2026 2027 2028 

Strengthening the earned income tax credit for individuals with no qualifying

children (sunset 12/31/20).............................................................................................. --- 8,933 --- --- --- --- --- --- --- 

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

who fail to meet certain identification requirements...................................................... --- --- 9 9 10 10 10 2 2 

Credit allowed in case of certain separated spouses......................................................... --- --- 1 1 1 1 1 2 2 

Elimination of disqualified investment income test.......................................................... --- --- 257 257 276 284 295 306 305 

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 - child tax credit fully refundable; include 17 year olds; $3,000 credit

credit amount ($3,600 if child younger than 6 years old); (sunset 12/31/20); and

payments to possessions............................................................................................... --- 88,390 768 833 899 906 954 311 316 

Refundability and enhancement of child and dependent care tax credit

(sunset 12/31/20) ................................................................................................... --- 3,443 --- --- --- --- --- --- --- 

Credits for Expanded Paid Sick and Family Leave (sunset 12/31/21)............................. 230 2,090 362 --- --- --- --- --- --- 

Emergency financial aid not includible in gross income and does not reduce

 educational tax credits.................................................................................................... --- 159 40 --- --- --- --- --- --- 

Modification of special rules for minimum funding standards for community plans [15]................................................................................................... --- -9 -10 -15 -19 -46 -4 -29 -33 

Relief for multiemployer pension plans [15]................................................................... 31 6,245 6,151 6,149 6,208 6,152 5,039 5,169 6,101 

Extended amortization for single employer plans [15].................................................... --- -18 -75 -176 -323 -1,191 -162 -1,009 -1,214 

Extension of pension funding stabilization percentages for single employer plans..........

Giving Retirement Options to Workers Act.....................................................................

[4] Estimate includes the following budget effects: 2020 2021 2022 2023 2024 2025 2026 2027 2028 

Total Revenue Effect........................................................................................................ -35 -141 --- --- --- --- --- --- --- 

On-budget effects........................................................................................................... -26 -104 --- --- --- --- --- --- --- 

Off-budget effects.......................................................................................................... -9 -37 --- --- --- --- --- --- --- 

[5] Estimate includes the following budget effects: 2020 2021 2022 2023 2024 2025 2026 2027 2028 

Total Revenue Effect........................................................................................................ 15 225 94 --- --- --- --- --- --- 

On-budget effects........................................................................................................... 10 152 63 --- --- --- --- --- --- 

Off-budget effects.......................................................................................................... 5 73 31 --- --- --- --- --- --- 

[Footnotes for JCX-16-20 continue on the following page]

- - - - - - - - - - - - - - - - - - - - - - - - - - - Outlays Included in Relief for multiemployer pension plan

- - - - - - - - - - - - - - - - - - - - - - - - - - - Outlays Included in Extend amortization for single employe
Page 6

Footnotes for JCX-16-20 continued:

[6] Estimate includes the following budget effects: 2020 2021 2022 2023 2024 2025 2026 2027 2028 

Total Revenue Effect........................................................................................................ --- 217 54 --- --- --- --- --- --- 

On-budget effects........................................................................................................... --- 160 40 --- --- --- --- --- --- 

Off-budget effects.......................................................................................................... --- 57 14 --- --- --- --- --- --- 

[7] Effective as if included in section 2301 of the CARES Act.[8] Effective on date of enactment of the Families First Coronavirus Response Act.

[9] Includes revenue effects of Division L, Title I - Amendments to Emergency Family and Medical Leave Expansion Act and Emergency Paid Sick Leave Act.

[10] Effective as if included in section 2302 of the CARES Act.[11] Effective for taxable years ending after the date of enactment of the CARES Act.[12] Effective for disclosures made after the date of the enactment of the FUTURE Act (Public Law 116- 91).[13] Effective as if included in section 2303(b) of the CARES Act.[14] Estimate provided by the Joint Committee on Taxation staff in collaboration with the Congressional Budget Office.

[15] Estimate provided by the Congressional Budget Office.[16] Estimate includes the following budget and outlay effects: 2020 2021 2022 2023 2024 2025 2026 2027 2028 

Total Revenue Effect........................................................................................................ 14 112 415 870 1,393 2,736 2,061 2,931 2,744 

On-budget effects........................................................................................................... 13 81 290 580 878 1,242 1,527 1,544 1,218 

Off-budget effects.......................................................................................................... 1 14 51 115 191 303 373 378 312 

[17] Provision shall take effect as if included in the enactment of section 2203 of the Coronavirus Aid, Relief, and Economic Security Act, except that subparagraph (c)(1) thereof shall be app

for December 31, 2019.

[18] Provision shall take effect as if included in the enactment of section 2202(b) of the Coronavirus Aid, Relief, and Economic Security Act.

[19] Estimate includes the following budget and outlay effects: 2020 2021 2022 2023 2024 2025 2026 2027 2028 

Total Revenue Effect........................................................................................................ 16 21 34 45 46 68 31 52 49 

On-budget effects........................................................................................................... 12 7 18 24 21 16 22 18 13 

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

[20] Estimate does not include any potential outlay effects which would be estimated by the Congressional Budget Office.[21] Loss of less than $500,000.