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The latest COVID-19 legislative news

Part of the Tax News & Views podcast series

Deloitte’s Jon Traub discusses the latest legislative news and updates related to COVID-19. He discusses potential timing and content of a phase four bill as well as an update on the CARES Act, including the chances of changes to the net operating losses provision in future legislation and what parts of the House’s HEROES Act might survive.

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Tax podcast: COVID-19 legislative update

June 16, 2020

As businesses look to recover, it’s critical to understand what’s happening in Washington, D.C. From the CARES Act to clarifications and changes to already passed regulations to a potential phase four bill on the horizon, understanding the legislative landscape remains crucial for tax departments.

In this latest episode, Jon Traub provides updates on legislation passed to date, as well as what might be coming next as Congress and the White House consider a phase four bill.

We did see in testimony before the Congress this week, Secretary of the Treasury Mnuchin confirmed the administration believes another bill is necessary. They still do want more money to help the economy, so I don’t think phase four is going to stop, but I do think some Republicans are looking for a smaller package in scope and timing.

—Jonathan Traub

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There are plenty of tax-related policy and regulatory updates these days. Clear-eyed analysis of it is more difficult to come by. Deloitte Tax News & Views is a tax podcast committed to making sure you understand the latest tax developments and opportunities and their potential impact on your business.

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