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New Tax Credits under the Families First Coronavirus Response Act

On March 14, 2020, the U.S. House of Representatives passed H.R. 6201, the Families First Coronavirus Response Act (the “Act”). The Senate is expected to pass the Act this week and President Trump has indicated that he will sign it. The government, however, has indicated that further revisions to the Act may be required.

If enacted into law, the Act would require many employers to provide paid sick and family medical leave to their employees, in addition to making other changes. These provisions are intended to mitigate the economic hardship that many employees would face if the coronavirus forced them to miss work for an extended period of time. These new requirements apply only in the case of a private employers who employ less than 500 employees. These provisions of the Act are discussed in our prior alert here. Read more…