Tax & Budget Archives - National Small Business Association : National Small Business Association

Updated ERTC Broadens Tax Credit

January 26, 2022

Changes to the Employee Retention Tax Credit (ERTC) have expanded business eligibility beyond its initial scope making nearly all business with fewer than 500 employees eligible for the credit.

BBB Vote Delayed, Outlook Unclear

December 22, 2021

Sen. Joe Manchin stated over the that he wouldn't support the Build Back Better bill as-is, dashing Democrats' hopes of passing the bill before the Christmas break.

Lawmakers Reach Deal to Raise Debt Limit

December 9, 2021

On Tuesday, the House approved legislation that will pave the way for an increase to the debt ceiling after both sides agreed to an unusual procedure.

Debt Limit Looms… Again

December 1, 2021

Despite last month's patch to increase to the U.S.'s borrowing authority limit, Treasury Secretary Yellen has cautioned that new limit could be reached as soon as Dec. 15.

Update: Stopgap Spending Bill

December 1, 2021

Lawmakers have until Friday to pass a stopgap spending measure to avert a government shutdown, debate is ongoing but House leaders aim to vote on the bill today.

Senate Talks Reconciliation Bill

December 1, 2021

The Senate is set to take up the House-passed Build Back Better reconciliation bill with the goal of finishing work on the package before the Christmas break.

House Passes Build Back Better Bill

November 19, 2021

On Nov. 19, the House passed 220-212 the Build Back Better reconciliation bill (H.R. 5376) that includes more than $1.5 trillion in business and individual tax increases.

Modified IRS Reporting Proposal

October 20, 2021

Yesterday, a modified version of the administration’s tax reporting requirement--a pay-for in the spending bill--which increases the reporting threshold from $600 to $10,000.

Congressional Outlook This Week

October 20, 2021

With lawmakers back in D.C. this week, Democratic leaders are working with the centrist and progressive wings of their party to find common ground on the spending bill.

Infrastructure Vote Delayed Again

October 6, 2021

Following last week's delay to vote on the bipartisan infrastructure bill, House Speaker has announced a plan to pass both the infrastructure bill and the broader Build Back Better bill by the end of October.