HR 6648 · 115th Congress · Taxation
RAISE Act of 2018
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2018-07-31)
Plain Language Summary
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Rewarding American Investments to Support Employees Act of 2018 or the RAISE Act of 2018 This bill allows employers a tax credit for a portion of the raises given to certain employees who earn $75,000 or less per year. The credit is equal to 10% of the increase in wages compared to the previous year and may not exceed $500,000 per year. The limitations on the amount of the credit and employee earnings must be adjusted for inflation after 2018.…
Summarized by Claude AI · Non-partisan · For informational purposes only