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Small Business Growth Act: New Payroll Tax Deductions for Employers

This law introduces new tax deductions for eligible small businesses, allowing them to reduce their payroll tax burden. It aims to support job creation and growth by making it cheaper for these businesses to employ full-time staff, especially those earning lower wages. The benefits are available for a limited time, from 2026 to 2033.
Key points
Small businesses with up to 15 full-time employees can claim new tax deductions.
The deduction applies to a limited number of lowest-paid full-time employees, not highly compensated ones.
This can lower a business's tax bill, potentially freeing up funds for growth or employee benefits.
The program is temporary, running from 2026 and gradually phasing out by the end of 2033.
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Introduced
Citizen Poll
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Additional Information
Print number: 119_S_3459
Sponsor: Sen. Ossoff, Jon [D-GA]