On the recordFebruary 2, 2021
I ask unanimous consent that the text of the bill be printed in the Record. There being no objection, the text of the bill was ordered to be printed in the Record, as follows: S. 175 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Coronavirus Unemployment Benefits Tax Relief Act''. SEC. 2. SUSPENSION OF TAX ON PORTION OF UNEMPLOYMENT COMPENSATION. (a) In General.--Section 85 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: ``(c) Special Rule for 2020.--In the case of any taxable year beginning in 2020, gross income shall not include so much of the unemployment compensation received by an individual as does not exceed $10,200.''. (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2019 ______ By Mr. REED (for himself, Mr. Blumenthal, Mr. Whitehouse, Mr. Brown, Mr. Van Hollen, Mr. Merkley, Ms. Baldwin, and Ms. Warren): S. 178. A bill to amend the Internal Revenue Code of 1986 to expand the denial of deduction for certain excessive employee remuneration, and for other purposes; to the Committee on Finance.
