To amend the Internal Revenue Code of 1986 to provide an employer credit for increasing wages.
USA115th CongressHR-6648| House
| Updated: 7/31/2018
Raul Ruiz
Democratic Representative
California
Cosponsors (7)
Ways and Means Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Employment taxesIncome tax creditsInflation and pricesWages and earnings
To amend the Internal Revenue Code of 1986 to provide an employer credit for increasing wages.
USA115th CongressHR-6648| House
| Updated: 7/31/2018
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.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Raul Ruiz
Democratic Representative
California
Cosponsors (7)
Ways and Means Committee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Employment taxesIncome tax creditsInflation and pricesWages and earnings