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117TH CONGRESS
1ST SESSION H. R. 1018
To amend the Internal Revenue Code of 1986 to increase the differential
wage payment credit.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 11, 2021
Mr. PANETTA (for himself and Mr. WENSTRUP) introduced the following bill;
which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase
the differential wage payment credit.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Reservist Pay Equity
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Act of 2021’’.
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SEC. 2. EXPANSION OF EMPLOYER WAGE CREDIT FOR EM-
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PLOYEES WHO ARE ACTIVE DUTY MEMBERS
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OF THE UNIFORMED SERVICES.
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(a) INCREASE IN DIFFERENTIAL WAGE PAYMENT
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CREDIT.—Section 45P(a) of the Internal Revenue Code
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•HR 1018 IH
of 1986 is amended by striking ‘‘20 percent’’ and inserting
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‘‘50 percent’’.
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(b) ADJUSTMENT FOR INFLATION.—Section 45P(b)
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of such Code is amended by adding at the end the fol-
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lowing new paragraph:
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‘‘(4) ADJUSTMENT
FOR
INFLATION.—In the
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case of any taxable year beginning after 2021, the
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$20,000 amount in paragraph (1) shall be increased
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by an amount equal to—
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‘‘(A) such dollar amount, multiplied by
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‘‘(B) the cost-of-living adjustment deter-
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mined under section 1(f)(3) for the calendar
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year in which the taxable year begins, by sub-
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stituting ‘calendar year 2020’ for ‘calendar year
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1996’ in subparagraph (A)(ii) thereof.
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If the amount as increased under the preceding sen-
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tence is not a multiple of $100, such amount shall
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be rounded to the nearest multiple of $100.’’.
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(c) EFFECTIVE DATE.—The amendments made by
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this section shall apply to payments made after December
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31, 2020.
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