Aug 26 2019

Wilson Times

President Donald Trump signed four bills Friday that were co-sponsored by Sen. Thom Tillis, R-N.C. The bills included: The Honoring American Veterans in Extreme Need Act, The Family Farmer Relief Act of 2019, the Small Business Reorganization Act and the National Guard and Reservist Debt Relief Extension Act of 2019.
“I’m proud to have these four bipartisan bills signed into law giving our small businesses, family farmers, national guard and reservists and veterans the economic relief they need when falling on hard times,” Tillis said in a release. “I want to thank President Trump for signing my bills into law and I look forward to working with the president and my colleagues to deliver more results for North Carolinians.”
Tillis also threw his support behind the Research and Development Tax Credit Expansion Act, which garnered him props from entrepreneurship and innovation leaders.
“Research and development plays a crucial role in allowing small businesses in North Carolina and across the country grow and create jobs,” Tillis said. “This bipartisan legislation will expand the R&D tax credit so American innovation can continue to thrive and compete globally.”
If approved, the act would expand the credit for new and small businesses by doubling the refundability of the credit from $250,000 to $500,000, extending the credit to all small businesses with less than $10 million in annual revenue and expanding how the refundable credit is claimed against payroll taxes.

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