HR 5261
RAISE Act of 2019
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- Passed Senate
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Bill overview
The RAISE Act of 2019 creates a tax credit for employers who increase wages paid to specific employees. This credit is equal to 10% of the increase in wages paid to ‘specified employees’ – those earning no more than $75,000 annually and working continuously for the employer. The credit cannot exceed $500,000 per employer per year, and it adjusts for inflation, starting in 2021. This legislation aims to incentivize employers to raise wages for eligible workers.
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