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S. 2738 116th Congress Senate

Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act

Official title: A bill to amend the Internal Revenue Code of 1986 to provide a tax credit for angel investors in start-up businesses, to provide a credit for wages paid by sta… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to provide a tax credit for angel investors in start-up businesses, to provide a credit for wages paid by start-up businesses to their first employees, and for other purposes.

Introduced: October 30, 2019 Introduced by: Ron Wyden Democratic · Oregon See on congress.gov
Taxation Administrative law and regulatory proceduresBusiness investment and capitalBusiness recordsDepartment of the Treasury
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Employment taxesFinancial services and investmentsIncome tax creditsInterest, dividends, interest ratesWages and earnings
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 30, 2019
Read twice and referred to the Committee on Finance.
Oct 30, 2019
Introduced in Senate
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 Latest action October 30, 2019

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act

This bill provides for a new angel 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.

 Related & companion bills 1
  • HR 4922 Identical bill Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 2738: Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-2738/
MLA
"S. 2738: Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-2738/.
Bluebook (legal)
S. 2738, 116th Cong. (2026), https://openamerica.io/bill/116-S-2738/.
Markdown link
[S. 2738: Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act](https://openamerica.io/bill/116-S-2738/)
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