ABC recently sent an action alert to ABC members to urge their members of Congress to include the Employee Retention Tax Credit Act bill in the federal spending package. ERTCRA would restore the Employee Retention Tax Credit through the end of the 2021.
ABC also joined a letter signed by more than 100 organizations urging Congress to pass ERTCRA and fulfill its promise to American small businesses and nonprofits.
Congress initially created this tax credit as part of the CARES Act to encourage businesses and nonprofits to keep employees on the payroll. This program was expanded through 2021 in subsequent legislation. Unfortunately, the Infrastructure Investment and Jobs Act cut the last quarter of the program short, making wages paid after Sept. 30, 2021, ineligible for the credit.
Learn more about this bill and ways to take action in the ABC Action Center.