Bill · H.R. 1424· House(119-HR-1424)
To amend the Internal Revenue Code of 1986 to increase the employer tax credit for paid family and medical leave.
- Introduced
- 2/18/2025
- Last activity
- 2/18/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Ryan Mackenzie
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill seeks to amend the Internal Revenue Code of 1986. The primary goal is to increase the employer tax credit for paid family and medical leave. It proposes changing specific credit percentages within Section 45S(a)(2). Additionally, the bill aims to make the credit permanent by striking a specific subsection. These changes would apply to taxable years beginning after December 31, 2025.
Yes· 3 of 9
Would business owners be better off under this?+5
The bill significantly increases the tax credit available to employers for providing leave.
Does this cut taxes for small businesses?+5
The bill increases the tax credit available to employers for providing paid family and medical leave.
Does this make it easier to run a small business?+5
The bill doubles the tax credit percentages for employers providing paid family and medical leave.
The opposite
Does this reduce what the federal government spends?-2
Increasing tax credits reduces federal tax revenue.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Employer Tax Credit: The bill increases the credit percentages from 12.5 percent to 25 percent and from 25 percent to 50 percent under Section 1(a). This change could provide more financial support to employers providing paid family and medical leave.
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Permanent Credit Status: By striking subsection (f) of Section 45S, the bill makes the credit permanent under Section 1(b). This provides long-term stability for the credit rather than it being temporary.
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+5Good For Women+4Good For Middle Class Households+3Good For Union Workers+3Good For Young Adults+3
- Economy And Finance
- Improves Small Business Support+5Reduces Small Business Taxes+5Improves Union Protections+3Reduces Government Spending-2
- Social Issues And Justice
- Improves Childcare Affordability+3
- 2/18/2025
- Referred to the House Committee on Ways and Means.
- Introduced in House