Might the now-expired Employee Retention Credit (ERC) receive a new lifeline? Two members of the Senate Finance Committee have introduced bipartisan legislation to help cover costs for small employers that experienced revenue drops and kept workers on their payrolls in the fourth quarter of 2021. The proposed Employee Tax Credit Reimbursement Act would extend the ERC, which ended after the third quarter of 2021. The ERC was enacted as part of the CARES Act and was expanded through the American Rescue Plan Act. The refundable tax credit was 50% of up to $10,000 in wages paid by an eligible employer whose business had been financially affected by the COVID-19 pandemic. Stay tuned.