WASHINGTON, D.C. – Today, Senator Rick Scott proposed a number of amendments to the coronavirus relief package to protect Americans and spur economic growth, including tax cuts to save families and job creators more than $320 billion.

Senator Rick Scott said, “Nancy Pelosi and Chuck Schumer have made it clear that they don’t care about getting something done to help the American people. They want to spend more than $3 trillion in taxpayer money on their liberal priorities that have nothing to do with the coronavirus. That’s wrong. We have to make sure we are protecting Americans and supporting families during this crisis.

“The best way to help people right now is to get the economy re-opened, support businesses by cutting taxes and regulations, protect Americans from the threat of Communist China, and ensure there is ample testing and Personal Protective Equipment across the country. That’s my focus and that should be the focus of everyone in Congress right now.”

Senator Scott’s amendments to the coronavirus relief package include:

• His American-Made Protection for Healthcare Workers and First Responders Act to ensure the United States builds its stockpile of Personal Protective Equipment (PPE) so our first responders and health care workers have everything they need to keep themselves safe. The American-Made Protection for Healthcare Workers and First Responders Act would address the current PPE shortage and build the national stockpile of goods from American-based producers to eliminate our dependence on foreign adversaries’ supply chains during a crisis.

• His Affordable Coronavirus Testing Act, co-sponsored by Senators Ernst and McSally, closes an insurance loophole so that all Americans have access to affordable COVID-19 tests, ensures that antibody tests are covered by insurance, and that testing information is efficiently shared among health care providers and public health officials.

• An amendment to hold Communist China accountable by making sure no taxpayer money spent by Congress to respond to the coronavirus goes to entities owned or controlled by Communist China.

• Three amendments to save families and job creators more than $320 billion:
  • Payroll Tax Cut Holiday
    • The amendment suspends to 0% the OASDI payroll tax for both employees and employers through the end of the year (Dec. 31, 2020) for employees who are hired on or before September 1, 2020.
  • Expanded Investment Expensing
    • This amendment spurs new business investment by expanding and extending the 100% immediate expensing provision created by the Tax Cuts and Jobs Act to include structures and all assets with cost recovery periods of 40 years or less. It would also extend the current full expensing provision in law by two years, to 2028.
  • Capital Gains Tax Holiday for Small Business Investment 
    • The amendment expands on the small business investment exclusion from capital gains tax in their stock by expanding the types of businesses that qualify.

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