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HR 8675 117th Congress House Taxation

RAISE Act of 2022

Introduced: August 5, 2022 Introduced by: Ruiz, Raul Democratic · California See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 5, 2022
Referred to the House Committee on Ways and Means.
Aug 5, 2022
Introduced in House
 Plain-English summary Congressional Research Service

Rewarding American Investments to Support Employees Act of 2022 or the RAISE Act of 2022

This bill allows employers a tax credit for 10% of the excess of the aggregate amount of wages paid to specified employees (i.e., continuously-employed employees whose earned wages do not exceed $75,000 in a calendar year) in a taxable year, over the aggregate amount of wages paid to such employees during the immediately preceding calendar year. The amount of such credit may not exceed $500,000 for any employer in any taxable year.

What's happening now August 5, 2022

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1