3.0.0 4922 2022-11-01T04:47:42Z 2022-11-01T04:47:42Z House HR 2019-10-30 116 [Congressional Record Volume 165, Number 172 (Wednesday, October 30, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. JUDY CHU of California:H.R. 4922.Congress has the power to enact this legislation pursuantto the following:Clause 1 of Section 8 of Article 1 of the United StatesConstitution[Page H8679]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-10-30T14:04:15Z Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act 116 2738 S 2019-10-30 Read twice and referred to the Committee on Finance. Identical bill CRS Economic Justice Act 116 5065 S 2020-12-18 Read twice and referred to the Committee on Finance. (text: CR S7713-7806) Related bill CRS 2019-10-30 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-10-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-10-30 Introduced in House IntroReferral 1000 9 Library of Congress C001080 Rep. Chu, Judy [D-CA-27] Judy Chu D CA 27 N B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2019-10-30 True 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 Taxation 00 2019-10-30 Introduced in House 2019-11-21T18:22:48Z 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.

]]> Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act Display Title Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act Official Title as Introduced 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 in House IH Short Title(s) as Introduced Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act Introduced in House IH Introduced in House 2019-10-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr4922ih/xml/BILLS-116hr4922ih.xml 2019-10-30 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.