Small-Business Tax Breaks Impact Minimum Wage Hike
The U.S. Senate threw the latest punch in its battle with the House over a bill proposing raising the minimum wage. Complicating matters, the Senate added a $12.2 billion package that allows for small-business tax breaks.
According to CQ.com, the House had already passed a separate minimum wage bill that featured about $1.3 billion in tax breaks and House members are asking, "When's enough enough?"
Raising the minimum wage bill has been a priority for House members, as mentioned in the article. But, the effort has been stalled by sharp disagreement between the two chambers over the amount of tax relief to offer businesses concerned about the pay raise.
According to the article, "while both chambers favor raising the minimum wage by $2.10 an hour over two years, the new Senate package added $3.9 billion in tax breaks on top of the $8.3 billion it had already approved as part of a separate minimum wage bill."
To read more, including breaks proposed for hurricane areas, click here.
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