Extension On Tax Credit To Offset Differential Pay

Small businesses that provide differential pay to military reservists and National Guard members called to serve on active duty would get an extension on a tax credit currently moving through the U.S. Senate.

The Senate Finance Committee recently approved a package that included a 2-year extension of a provision in a bill co-introduced by U.S. Senator Gary Peters.

Peters says the provision not only helps the small business, but the activated servicemember as well.

A vote on the entire bill is expected in the fall.

The differential pay tax credit is supported by the Reserve Officers Association, the Enlisted Association of the National Guard of the United States and the National Military Family Association.