3.0.0 1256 2023-03-08T20:12:14Z 2023-03-08T20:12:14Z Senate S 2021-04-20 117 ssfi00 Finance Committee Senate Standing Referred to 2021-04-20T22:43:59Z Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act 117 2680 HR 2021-04-20 Referred to the House Committee on Ways and Means. Identical bill CRS 2021-04-20 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2021-04-20 Introduced in Senate IntroReferral 10000 9 Library of Congress W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR N H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH 2021-04-20 True C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2021-04-20 True C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV 2021-04-20 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 2021-04-20 Introduced in Senate 2021-06-14T11:12:23Z 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.

]]> 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 A bill to amend the Internal Revenue Code of 1986 to provide a tax credit for 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 Senate IS Short Title(s) as Introduced Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act Introduced in Senate IS Introduced in Senate 2021-04-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s1256is/xml/BILLS-117s1256is.xml 2021-04-20 Read twice and referred to the Committee on Finance. 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.