Senate Infrastructure Bill Would End Worker Retention Credits
By Stephen Cooper (August 2, 2021, 7:25 PM EDT) -- An employer tax credit used by struggling businesses to retain workers during the height of the coronavirus pandemic would be phased out three months early under a bipartisan infrastructure bill headed for a Senate vote this week.
The Infrastructure Investment and Jobs Act, or H.R. 3684, a $1.2 trillion bipartisan spending bill unveiled Sunday afternoon by Senate Majority Leader Chuck Schumer, D-N.Y., includes a provision to end the employee retention credit on Sept. 30 of this year rather than Jan. 1, 2022.
The measure has been the subject of stop-and-start negotiations between a bipartisan group of senate lawmakers, led by Sens....
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