H.R. 2680 · 117th Congress
Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act
- Stage
- In committee
- Sponsor
- Judy Chu
- Introduced
- 2021-04-20
- Latest action
- 2021-04-20 · Introduced in House
Summary
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.