S 1256
117th Congress
Senate
Taxation
Administrative law and regulatory procedures
Business investment and capital
Business records
Department of the Treasury
Employment taxes
Financial services and investments
Income tax credits
Interest, dividends, interest rates
Wages and earnings
Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 20, 2021
Read twice and referred to the Committee on Finance.
Apr 20, 2021
Introduced in Senate
Plain-English 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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1