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Senate Plans to End Business Tax Cut After Few Claimed Break (1)

Aug. 2, 2021, 4:57 PM

The bipartisan infrastructure bill would end a tax break Congress crafted to help businesses struggling during the pandemic but relatively few companies have claimed.

The employee retention tax credit, worth up to $28,000 per employee kept on the payroll in 2021, would end Sept. 30 under the legislation that the Senate is expected to pass this week. The House, however, is on recess until Sept. 20 and wouldn’t take up the bill until the fall.

The tax credit is currently slated to expire at the end of the year.

Ending it early would save $8.2 billion that lawmakers can use ...

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