H.R. 9781 — Providing Real Opportunities for Growth to Rising Entrepreneurs for Sustained Success (PROGRESS) Act

This bill provides a new small business investor tax credit for investments made into a small business (typically a start-up), subject to single year and lifetime limits. The bill also provides a first employee business wage tax credit for wages paid or incurred by a small business, subject to single year and lifetime limits. Under the bill, an investor may claim as part of the general business tax credit up to 50% of the amount of a loan or purchase of stock in a small business, limited to $10,000 in a single year and $50,000 in total.  The bill also allows a small business owner to claim as part of the general business tax credit up to 25% of employee wages, limited to $10,000 in a singl...