S. 2540 · 113th Congress
Patriot Employer Tax Credit Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DurbinSponsor5 cosponsors · 4 D, 1 I
5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Patriot Employer Tax Credit Act - Amends the Internal Revenue Code to allow a Patriot employer a business-related tax credit for up to 10% of the first $15,000 of wages paid to any employee in a taxable year.
What it does: CRS summary · Introduced in Senate · Jun 26, 2014
Patriot Employer Tax Credit Act - Amends the Internal Revenue Code to allow a Patriot employer a business-related tax credit for up to 10% of the first $15,000 of wages paid to any employee in a taxable year. Sets forth criteria for designation as a Patriot employer, including requirements that such employer: (1) maintains its headquarters in the United States and does not expatriate to avoid payment of U.S. income taxes, (2) complies with the employer mandate to provide minimum essential health care coverage to its employees under the Patient Protection and Affordable Care Act, (3) compensates at least 90% of its employees at a level that is 150% of the federal poverty level for a family of three and provides 90% of its employees with a basic level of retirement benefits, (4) provides for differential wage payments to its employees who are members of the Uniformed Services, and (5) increases the number of its employees performing substantially all of their services inside the United States to offset the number of employees who work outside the United States.
Sets forth a rule for the deferral of the tax deduction for foreign-related interest expense.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Patriot Employer Tax Credit Act
Latest action (Jun 26, 2014): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4156-4158)
Policy area: Taxation · Origin: Senate · Introduced: Jun 26, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.