S. 3521 · 116th Congress
Coronavirus Economic Stimulus Act
- Stage
- In committee
- Sponsor
- Tom Cotton
- Introduced
- 2020-03-18
- Latest action
- 2020-03-18 · Introduced in Senate
Summary
Coronavirus Economic Stimulus Act
This bill allows individual taxpayers a refundable tax credit, based upon their 2018 tax liability, for $1,000 ($2,000 for joint returns) and $500 for each dependent. The credit is not available to taxpayers whose adjusted gross income exceeds $100,000 ($200,000 for joint returns) for the taxable year. The bill directs the Department of the Treasury to make payments to taxpayers as rapidly as possible.