SENATE 1256117th CongressRead twice and referred to the Committee on Finance.
Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act
- Last Action
- 4/20/2021
Actions
- 2021-04-20Read twice and referred to the Committee on Finance.
- 2021-04-20Introduced in Senate
CRS Summary
As of 2021-04-20 (00)
Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act
This bill provides for a new small business investor tax credit to promote investment in start-up businesses and a first employee tax credit equal to 25% of employee wages, up to $10,000 in a taxable year. An employer may elect to apply the amount of the first employee tax credit to payroll tax liability.
Subjects
- Administrative law and regulatory procedures
- Business investment and capital
- Business records
- Department of the Treasury
- Employment taxes
- Financial services and investments
- Income tax credits
- Interest, dividends, interest rates
- Wages and earnings
Sourced from Congress.gov (public domain).
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