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RAISE Act of 2022

12/29/2022, 7:03 PM

Summary of Bill HR 8675

The RAISE Act of 2022, also known as Bill 117 HR 8675, is a piece of legislation introduced in the US Congress with the aim of reforming the country's immigration system. The bill focuses on implementing a merit-based system for selecting immigrants, prioritizing those with high levels of education, job skills, and English proficiency.

Under the RAISE Act, the current system of family-based immigration would be significantly reduced, with a greater emphasis placed on attracting immigrants who can contribute to the US economy. The bill also seeks to limit the number of refugees admitted to the country and to reduce the overall number of legal immigrants allowed to enter the US each year.

Supporters of the RAISE Act argue that it will help to ensure that immigrants coming to the US are able to support themselves financially and contribute positively to society. They believe that a merit-based system will lead to a more skilled and productive immigrant population. Critics of the bill, however, argue that it is discriminatory and will disproportionately impact certain groups of immigrants, such as those from lower-income countries or with less formal education. They also raise concerns about the potential negative impact on families who may be separated under the new system. Overall, the RAISE Act of 2022 is a controversial piece of legislation that seeks to overhaul the US immigration system by prioritizing immigrants with certain skills and qualifications. Its ultimate impact on the country's immigrant population and economy remains to be seen.

Congressional Summary of HR 8675

Rewarding American Investments to Support Employees Act of 2022 or the RAISE Act of 2022

This bill allows employers a tax credit for 10% of the excess of the aggregate amount of wages paid to specified employees (i.e., continuously-employed employees whose earned wages do not exceed $75,000 in a calendar year) in a taxable year, over the aggregate amount of wages paid to such employees during the immediately preceding calendar year. The amount of such credit may not exceed $500,000 for any employer in any taxable year.

Current Status of Bill HR 8675

Bill HR 8675 is currently in the status of Bill Introduced since August 5, 2022. Bill HR 8675 was introduced during Congress 117 and was introduced to the House on August 5, 2022.  Bill HR 8675's most recent activity was Referred to the House Committee on Ways and Means. as of August 5, 2022

Bipartisan Support of Bill HR 8675

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 8675

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 8675

RAISE Act of 2022
RAISE Act of 2022
Rewarding American Investments to Support Employees Act of 2022
To amend the Internal Revenue Code of 1986 to provide an employer credit for increasing wages.

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