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I need to make a correction on a previous blog in regard to the CARES Act that the president signed on March 27, 2020. The original bill was filed January 24, 2019, but as it was originally written, it had nothing to do with Covid-19. HR 748 was an amendment to the IRS tax code of 1986. Because it had not been passed yet, Congress completely changed the name and gutted its contents to save time.
The bottom line is that they were not prophesying the covid-19 pandemic a year ahead of time.
On January 24, 2019 HR 748 was introduced “To amend the Internal Revenue Code of 1986 to repeal the excise tax on high cost employer-sponsored health coverage.”
https://docs.house.gov/billsthisweek/20190715/BILLS-116hr748-SUSv1.pdf
A year later, on January 3, 2020, the bill was introduced with a new title and purpose
To amend the Internal Revenue Code of 1986 to repeal the excise tax on high cost employer-sponsored health coverage.
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 “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act”.
https://www.congress.gov/bill/116th-congress/house-bill/748/text
The entire bill was reworded to fit the covid-19 situation. Never seen anything like it.