Sen. John Kerry (D-Mass.) got part of his Military Family Bill of Rights legislation in the Senate’s just passed emergency tax relief measure for persons affected by Hurricane Katrina. Kerry’s provision offers tax relief to employers of members of the National Guard and Reserve. The tax relief equates to an employee retention credit, providing a 40 percent tax credit for wages paid up to $6,000 after Aug. 28 and before Dec. 31. The Senate and House are in conference resolving differences of their respective bills.
A legislative standoff has led to a lapse in a $4.26 billion small business innovation contracting program widely used by the Air Force and could spell the end of it entirely, industry sources warned Air & Space Forces Magazine.
