HR 6648
115th Congress
House
Taxation
Employment taxes
Income tax credits
Inflation and prices
Wages and earnings
RAISE Act of 2018
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 2018
Referred to the House Committee on Ways and Means.
Jul 31, 2018
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1