H.R. 6648 · 115th Congress
RAISE Act of 2018
- Stage
- In committee
- Sponsor
- Raul Ruiz
- Introduced
- 2018-07-31
- Latest action
- 2018-07-31 · Introduced in House
Summary
Rewarding American Investments to Support Employees Act of 2018 or the RAISE Act of 2018
This bill allows employers a tax credit for a portion of the raises given to certain employees who earn $75,000 or less per year. The credit is equal to 10% of the increase in wages compared to the previous year and may not exceed $500,000 per year. The limitations on the amount of the credit and employee earnings must be adjusted for inflation after 2018.