,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #ebfa  ,,in ,,the ,,house ,,of  
,,representatives  ,november #bb1       
#bjai,mr4 ,ruiz introduced the following
 bill2 which was referred to the        
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to provide an employer  
credit for increasing wages4  #a4 ,short
 title ,this ,act may be cited as the   
,rewarding ,american ,investments to    
,support ,employees ,act of #bjai or the
 ,,raise ,act of #bjai4  #b4 ,employer  
wage credit  7a7 ,in general ,subpart ,d
 of part ,,iv of subchapter ,a of       
chapter #a of the ,internal ,revenue    
,code of #aihf is amended by adding at  
the end the following3  #de,t4 ,employer
 wage credit  7a7 ,in general ,for      
purposes of section #ch1 the employer   
wage credit determined under this       
section with respect to any employer for
 any taxable year is an amount equal to 
#aj percent of the excess 7if any7 of-- 
7#a7 the aggregate amount of wages paid 

or incurred to specified employees      
during the calendar year which ends with
 or within such taxable year1 over  7#b7
 the aggregate amount of wages paid or  
incurred to specified employees during  
the calendar year immediately preceding 
the calendar year described in paragraph
 7#a74  7b7 ,limitations  7#a7 ,in      
general ,the amount of the credit       
determined under subsection 7a7 with    
respect to any employer for any taxable 
year shall not exceed #ejj1jjj4  7#b7   
,limitation on increase which may be    
taken into account with respect to each 
employee ,the amount of wages taken into
 account under subsection 7a77#a7 with  
respect to any employee shall not exceed
 the sum of #be1jjj plus the amount of  
wages taken into account under          
subsection 7a77#b7 with respect to such 
employee4  7c7 ,specified employees ,for
 purposes of this section1 the term     
specified employee means any employee   
who-- 7#a7 was employed continuously in 
one or more trades or businesses of the 

employer during both calendar years     
described in subsection 7a71 and  7#b7  
earned wages not in excess of #ge1jjj   
during the calendar year described in   
subsection 7a77#b74  7d7 ,other         
definitions and special rules ,for      
purposes of this section--  7#a7 ,wages 
,the term wages has the meaning given   
such term by section #ccjf7;b7          
7determined without regard to any dollar
 limitation contained in such section74 
,such term shall not include any amount 
taken into account in determining any   
other credit allowed under this subpart4
  7#b7 ,predecessor and successor ,any  
reference in this paragraph to an       
employer shall include a reference to   
any predecessor of1 or successor to1    
such employer4  7#c7 ,aggregation rule  
,all persons treated as a single        
employer under subsection 7b71 7c71 7m71
 or 7o7 of section #dad shall be treated
 as one employer4  7#d7 ,inflation      
adjustment  7,a7 ,in general ,in the    
case of a taxable year beginning after  

#bjbj1 the #ejj1jjj and #ge1jjj amounts 
in subsections 7b7 and 7c7 shall each be
 increased by an amount equal--  7i7    
such dollar amount1 multiplied by  7ii7 
the cost-of-living adjustment determined
 under subparagraph 7,b7 for the        
calendar year in which the taxable year 
begins4  7,b7 ,cost-of-living adjustment
 ,for purposes of this paragraph1 the   
cost-of-living adjustment for any       
calendar year is the percentage 7if any7
 by which--  7i7 the ,,cpi for the      
preceding calendar year1 exceeds  7ii7  
the ,,cpi for calendar year #bjai4  7,c7
 ,,cpi for any calendar year ,for       
purposes of this paragraph1 the ,,cpi   
for any calendar year shall be          
determined as provided in section       
#a7;f77#d74  7,d7 ,rounding ,if any     
amount as adjusted under subparagraph   
7,a7 is not a multiple of #a1jjj1 such  
amount shall be rounded to the next     
lowest multiple of #a1jjj4  7#e7        
,election to have credit not apply ,a   
taxpayer may elect to have this section 

not apply for any taxable year4 ,rules  
similar to the rules of paragraphs 7#b7 
and 7#c7 of section #ea7;j7 shall apply 
for purposes of this paragraph4  4  7b7 
,credit ,to be part of general business 
credit ,section #ch7;b7 of such ,code is
 amended by striking plus at the end of 
paragraph 7#ca71 by striking the period 
at the end of paragraph 7#cb7 and       
inserting 1 plus1 and by inserting after
 paragraph 7#cb7 the following new      
paragraph3  7#cc7 the employer wage     
credit determined under section #de,t4  
4  7c7 ,denial of double benefit with   
deductions ,section #bhj;,c7a7 of such  
,code is amended by inserting #de,t7a71 
after #de,s7a714  7d7 ,clerical         
,amendment ,the table of sections for   
subpart ,d of part ,,iv of subchapter ,a
 of chapter #a of such ,code is amended 
by adding at the end the following the  
item3  ,sec4 #de,t4 ,employer wage      
credit4  4  7e7 ,effective date ,the    
amendments made by this section shall   
apply to taxable years beginning after  

,december #ca1 #bjai4