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HR 6007 United States House · 118th Congress

Retirement Investment in Small Employers Act

Summary
Retirement Investment in Small Employers Act This bill allows an increased start-up tax credit (from $500 to $2,500) for micro-businesses (not more than 10 employees) for the costs of setting up a defined contribution pension plan.
Issues: ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit for small businesses (micro-businesses), providing direct tax relief to encourage retirement plan adoption.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncreases tax credit for small businesses to establish pension plans, expanding retirement benefits for workers under employment standards.95% confidence
Sub-Topics: Pensions Tax Credits Retirement Benefits Tags: Small Business
Bill status in committee 1 of 4 stages cleared
Introduction
Oct 2023
Committee Review
Floor Vote
President
Introduced Oct 19, 2023 Last action Oct 25, 2023
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Oct 25, 2023
Committee
Referred to the House Committee on Ways and Means.
lower
Oct 19, 2023
Introduced
Introduced in House
lower
1 primary · 3 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Claudia Tenney
Claudia Tenney
RRepublican
NY
24
Co
Photo of Daniel T. Kildee
Daniel T. Kildee
DDemocratic
MI
8
Co
Photo of Gabe Vasquez
Gabe Vasquez
DDemocratic
NM
2
Co
Photo of Hillary J. Scholten
Hillary J. Scholten
DDemocratic
MI
3