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U.S. Employer Tax Credit Bill Announced

27 June 2014

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Proposed Changes

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United States

On 26 June 2014, the Patriot Employer Tax Credit Act was referred to Congressional Committee. The bill was introduced by Senators Durbin, Brown, Reed, Warren, Baldwin, and Sanders, and is aimed at keeping investments in the U.S. The Act would grant a tax credit equivalent to 10% of the first $15,000 of wages earned by each employee—worth about $1,200 per qualifying worker depending on the company’s federal effective tax rate—to companies that meet the following criteria: Invest in American Jobs: Maintain headquarters in the U.S. if the company has ever been headquartered in America, has not inverted to avoid U.S....