2 minute read 8 Jan 2021
Interior of the state capitol building

Year-end 2020 COVID and omnibus legislation

By Washington Council Ernst & Young

Advisory services group that helps clients manage opportunities and risks associated with the legislative and regulatory process.

2 minute read 8 Jan 2021

The Consolidated Appropriations Act 2021 contains tax, health and economic stimulus. How will your business be affected?

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, which the House and Senate passed on December 21. The Act includes roughly $900 billion in coronavirus relief, including many tax and health components, as well as a $1.4 trillion omnibus appropriations package to fund the government through September 2021 that also extends expiring tax provisions and health extenders.

Many of the coronavirus relief provisions are extensions and modifications of Coronavirus Aid, Relief, and Economic Security Act provisions, like the expansion of the employee retention credit, rather than new starters.

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Summary

The Consolidated Appropriations Act, 2021 includes coronavirus relief, tax and health extenders.

About this article

By Washington Council Ernst & Young

Advisory services group that helps clients manage opportunities and risks associated with the legislative and regulatory process.