Rival small business tax cut bills fail in Senate

Share this article:

Two bills that would have cut taxes for small business died in the Senate Thursday.

The Democrat version of the bill, which was defeated in a 53-44 vote, would have offered a 10% income tax credit to small businesses that hire new workers or provide raises to existing workers. It also would have helped companies quickly write off purchases on new equipment, the Washington Post reported.

The Republican version, which was voted down on a 24-73 Senate vote, had passed the House in April. Their version would have given a 20% tax cut to businesses with fewer than 500 workers.

Small nursing home operators, which often qualify as small businesses, stood to benefit from both proposals.

Share this article:

More in News

CMS updates coding instructions for hospice site of service, principal diagnosis

CMS updates coding instructions for hospice site of ...

A new Medicare hospice manual update includes instructions for which principal diagnosis codes are acceptable, and clarifies which codes should be used for services in a skilled versus non-skilled nursing ...

Vast majority of nursing home residents chronically constipated, and it's not well ...

Chronic constipation is highly prevalent in nursing homes and not well controlled, leading to a high likelihood that residents develop fecal impaction, according to findings from a first-of-its kind study.

Federal judge dismisses nursing home 'kickback' case; upholds large X-ray company's 'swapping' ...

The way mobile x-ray company Mobilex bills nursing homes is acceptable, a federal judge recently determined. Mobilex is the nation's largest provider of mobile diagnostic services. It had been facing whistleblower charges that it effectively paid kickbacks to nursing homes through an arrangement known as ...