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Legislation that would provide a 10 percent income tax credit for employers that create new jobs or increase wages in 2012 will be on the Senate floor during the month of June, Majority Leader Reid says. Reid introduced the Small Business Jobs and Tax Relief Act (S. 2237) in March, with the hopes of moving it off the Senate floor in April, but the chamber has been bogged down with other legislative matters and with some nominations. An aide tells BNA he expects Reid will need to file cloture on a motion to proceed to the legislation, but he does not expect that it will happen before the Senate adjourns May 25 for a one-week recess.
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