legislative updates

House Ways and Means Committee Chairman Richard Neal (D-MA) has introduced in the initial days of the 117th Congress the Emergency Pension Plan Relief Act (EPPRA) of 2021. 

On December 21, 2020, Congress passed additional measures to provide economic relief from the effects of the coronavirus pandemic. On December 27, 2020, it was signed into law. 

Legislation for a new round of economic relief for victims of the COVID-19 pandemic and extend funding for federal government agencies remains in pending status.

Agreement reached on a new round of economic relief for victims of the COVID-19 pandemic.

Proposed legislation would permit tax-free retirement savings distributions of up to $2,500 per year—indexed for inflation—that are used to purchase long-term care insurance.

Richard Neal (D-MA) and Kevin Brady (R-TX) have introduced the Securing a Strong Retirement Act of 2020, described as building on major retirement legislation enacted in December 2019.

The IRS has updated deadline relief for completing certain time-sensitive, tax-related acts for victims of California wildfires that began on August 14, 2020.

The House of Representatives has released text of a revised COVID-19 pandemic relief bill, expected to be voted on this week before the House recesses for pre-election campaigning.

H.R. 7370, the Protecting Employees and Retirees in Business Bankruptcies Act of 2020, has been introduced by Rep. Jerrold Nadler (D-NY).

S. 4539 has been introduced with COVID-19 liability protection for businesses and healthcare providers, a tax credit for employer COVID-19 testing, and several retirement provisions.