Daily Management Review

Biden gives tax breaks to companies that incentivise their employees to get vaccinated


On 21 April, US President Joseph Biden instructed the US Internal Revenue Service to develop a mechanism to provide tax credits to US companies that incentivise their employees to be vaccinated against COVID-19.

Lisa Ferdinando
Lisa Ferdinando
He urged employers to give everyone who is vaccinated a paid time off.

"We need to help businesses and employers who are doing the right thing. Such policies are especially needed for medium and small businesses, i.e. those with fewer than 500 employees. 

The US Internal Revenue Service is currently drafting guidelines to encourage employers who give their employees paid time off to take the vaccination and, in the event of side-effects, to recuperate. 

This incentive for employers will come in the form of a tax credit," the president said. "Companies should know that they can do it and their business will not suffer from it," he added, referring to the tax incentives mentioned.

According to the US Centers for Disease Control and Prevention, 134 million US citizens (40% of the total population) have so far received one dose of the vaccine, while 87.5 million (26%) have received both doses, i.e. are fully vaccinated. 

In the 65+ category, 80% of these Americans (44 million people) have received a single dose, and 65% of older US citizens (35.8 million people) have been fully vaccinated.

source: cnn.com