29 Jan 2024 BPC Action Applauds Senate Effort to Expand Paid Family and Medical Leave Tax Credit  in Paid Parental Leave, Tax

The Bipartisan Policy Center Action (BPC Action) applauds the introduction of legislation to expand support for employers offering paid family and medical leave to their employees. BPCA President Michele Stockwell said: 

“BPC Action endorses bipartisan legislation from Senators Deb Fischer (R-NE) and Angus King (I-ME), the Paid Family and Medical Leave Tax Credit Extension and Enhancement Act, to make permanent and expand the employer tax credit for paid family and medical leave, known as 45S. This tax credit helps businesses offset the cost of providing paid family and medical leave benefits, and we encourage Congress to take up the bill.”  

“Making the tax credit permanent will give businesses confidence that they can rely on the credit to provide paid leave benefits for years to come. The bill will also expand access to leave benefits by giving employers the option to reduce the employee tenure requirement from one year to six months and by allowing employers to apply the tax credit toward the costs of providing paid leave through private insurance carriers. These changes combined with a concerted education effort to ensure that employers are aware of 45S will expand access to leave benefits.”