arrow_back Back to App

Shielding Small Businesses from Unemployment Insurance Tax Hikes.

This bill aims to protect small businesses from increases in federal unemployment taxes (FUTA) that usually occur when a state has outstanding federal loans for its unemployment fund. Businesses with fewer than 500 employees will be exempt from these tax increases. This measure helps small employers maintain financial stability and potentially supports job retention.
Key points
Small businesses (fewer than 500 employees) are protected from higher federal unemployment taxes.
This protection applies when the state has unrepaid advances (loans) for its unemployment insurance fund.
The goal is to reduce financial burdens on small employers, promoting economic stability.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_8559
Sponsor: Rep. Steel, Michelle [R-CA-45]
Process start date: 2024-05-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to protect small businesses from unemployment insurance premium increases by reason of unrepaid State advances.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8559.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-23.

What are the main provisions?

Key points include:

  • Small businesses (fewer than 500 employees) are protected from higher federal unemployment taxes.
  • This protection applies when the state has unrepaid advances (loans) for its unemployment insurance fund.
  • The goal is to reduce financial burdens on small employers, promoting economic stability.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Steel, Michelle [R-CA-45].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Work and Welfare.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Labor Economy