Should TGA Support Fixing the Employee Retention Tax Credit?

Should TGA Support Fixing the Employee Retention Tax Credit?

TGA would like to sign a letter endorsing the bipartisan JOBS Credit Act (H.R. 6776), legislation that would fix the employee retention tax credit (ERTC) by expanding the credit percentage from 50% to 80% of qualified wages; increasing the per-employee limitation from $10,000 for all calendar quarters to $15,000 per calendar quarter (and an aggregate of $45,000 for all calendar quarters); and creating a phased-in credit, which will allow employers with more than a 20% decline in gross receipts to be eligible for a portion of the credit. Please let TGA’s Nate Herman know by this Friday, June 12 whether TGA should sign the letter endorsing the legislation.