Push For Tax Credit For Small Businesses

Bipartisan legislation has been introduced in Congress to extend a tax credit for small businesses that provide differential pay to military reservists and national guard members called to serve on active duty.

Michigan Junior Democratic U-S Senator Gary Peters, who co-sponsors the legislation, explains The Military Reserve Small Business Jobs Act of 2015 would extend the tax credit for five years, supporting small businesses and helping provide financial security for reservists and their families while on active duty.

The tax credit incentive for offering differential pay was included in a bipartisan package of tax bills that passed Congress last year, but it expired at the end of 2014.

It would impact about 824,000 reservists and National Guard members in America, and more than 15,400 in Michigan.