Support Small Business Growth Act Introduced

In December, a bi-partisan bill called the Support Small Business Growth Act was introduced in Congress. It would create a payroll tax deduction for small businesses with fewer than 15 employees. The maximum deduction would be 12% of wages up to $8,000 for a full-time employee who is not highly compensated. If enacted, it would apply starting January 1, 2026. But the measure must be re-introduced this year. #IdeaoftheDay