[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 3542 Introduced in Senate (IS)]

<DOC>






116th CONGRESS
  2d Session
                                S. 3542

To provide COVID-19 related assistance through a special earned income 
rule for purposes of the refundable child and earned income credits for 
                           taxable year 2020.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 19, 2020

Mr. Brown (for himself and Mr. Cassidy) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To provide COVID-19 related assistance through a special earned income 
rule for purposes of the refundable child and earned income credits for 
                           taxable year 2020.

    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 ``COVID-19 Earned Income Act''.

SEC. 2. SPECIAL RULE FOR DETERMINING EARNED INCOME.

    (a) In General.--If the earned income (as defined in section 
32(c)(2) of the Internal Revenue Code of 1986) of a taxpayer for the 
applicable taxable year is less than the earned income (as so defined) 
of the taxpayer for the preceding taxable year, the credits allowed 
under sections 24(d) and 32 of the Internal Revenue Code of 1986 may, 
at the election of the taxpayer, be determined by substituting--
            (1) such earned income for the preceding taxable year; for
            (2) such earned income for the applicable taxable year.
    (b) Applicable Taxable Year.--For purposes of this section, the 
term ``applicable taxable year'' means taxable year 2020.
                                 <all>