March 25,2020

Grassley on Tax Provisions in the Phase 3 Coronavirus Economic Relief Package

Prepared Floor Remarks by U.S. Senator Chuck Grassley of Iowa
Chairman, Senate Finance Committee
On Tax Provisions in the Phase 3 Coronavirus Economic Relief Package
Wednesday, March 25, 2020
 
As the chairman of the Finance Committee and head of the Tax Task Force, I want to highlight a few areas of the bipartisan economic relief bill we will be voting on today.
 
Recovery checks to give Americans needed cash to provide for their families and get through our current health crisis including $1,200 for individuals, $2,400 for married couples and $500 for each child with no minimum and no phase in.
 
Anyone with a social security number who is not dependent of anyone else should be eligible for a check under the income caps.
 
We also have very strong unemployment compensation additions to the present program in this bill
 
We also have incentives to help charities because they play a very important role in this recovery.
 
My colleagues across the aisle said last week that the business tax issues were a corporate bail out.
 
That couldn’t be further from the truth and I think my Democratic colleagues now agree with me.
 
This is about helping our workers keep their jobs.
 
Our economic relief package has provisions to help businesses so they have the cash to keep the doors open and keep making payroll.
 
We all worked hard, along with the Administration to get this job done.
 

Now it’s time to vote on this bill and deliver relief to the American people.