Press Release
July 28, 2020
Tax Provisions in the HEALS Act
Senate Republicans’ proposal for the latest coronavirus response package, the Health, Economic Assistance, Liability Protection, and Schools (HEALS) Act, contains a number of tax-related provisions aimed at both businesses and individuals. AAF’s Director of Fiscal Policy Gordon Gray outlines these provisions and assesses their potential cost.
His central points:
- The HEALS Act includes a second round of direct payments to individuals;
- The act also includes four new business tax provisions, including two expansions of hiring credits, a new tax credit against employers’ investments to mitigate workplace health risks, and tax changes to facilitate assistance to gig workers; and
- Combined, the individual and business tax provisions provide significant incentives for maintaining household liquidity and returning to work.