Fischer in the Lincoln Journal Star: Take advantage of this real solution to paid family leave

In case you missed it: Senator Deb Fischer (R-NE) penned an op-ed in the Lincoln Journal Star encouraging Nebraskans to capitalize on her Paid Family and Medical Leave Tax Credit, made permanent through the Working Families Tax Cuts . Fischer also highlights guidance recently released from the U.S. Department of Treasury on how business owners can claim this credit to offer paid leave to more employees. Read the op-ed here or below. Imagine working for a mom-and-pop store in the Haymarket and you’re expecting a new baby or need to care for a sick family member. Your boss would like to offer you paid leave to care for your family, but as a small business, the margins are thin. Your boss wants to do the right thing, but they can’t afford it. This had been the reality for small business owners and their employees for decades — until 2017 when I created the nation’s first-ever paid family and medical leave policy. My Paid Family and Medical Leave Tax Credit allows employers to claim a general business tax credit covering up to 25% of the wages they pay employees who are out on parental or family medical leave. Importantly, this is not a government mandate. It is a voluntary incentive. I designed the credit with an income cap to ensure that it helps the workers who need it the most: middle-income and hourly workers. That cap adjusts every year. And the more generous the employer is, the more help they get. Last year, through the Working Families Tax Cuts passed by Congress, we made my tax credit permanent. Now, businesses of all sizes can build paid leave into long-term benefit plans without wondering whether the incentive will disappear. Washington should make it easier — not harder — for a small business to stand by an employee when their family needs them most. A tax credit only helps if employers know it exists and apply for it. That’s why, this year, I used my role on the Senate Appropriations Committee to secure $1 million in federal funds for the U.S. Small Business Administration to help increase awareness of the credit and help employers know how to utilize it. And this month, the U.S. Treasury issued new guidance showing employers how to claim the credit. This guidance explains additional methods that businesses can receive a tax break if they offer this paid leave to their employees. My original tax credit was based on wages employers pay employees while on leave. Through the Working Families Tax Cuts, I expanded this to also cover insurance policies purchased by employers to cover paid medical and family leave. We are making it even more attainable for businesses of all sizes to offer this important benefit to workers. I am grateful to Secretary Scott Bessent for working closely with me on this. You can find the guidance at the following link: https://www.irs.gov/pub/irs-drop/n-26-28.pdf . Now, we need to make sure employers know this credit is available. If you own a business, see whether you qualify. If you work for one, make sure your employer knows this option exists. No small business owner should have to choose between doing the right thing for their employee and keeping their storefront open. And no worker should be forced to choose between receiving a paycheck and taking care of their family. This tax credit helps ensure they don’t have to. ###