A group of Democrats on the House Ways and Means Committee introduced a bill Thursday aimed at encouraging businesses to hire workers who have been hard hit by the coronavirus pandemic.
The legislation would expand the work opportunity tax credit — a tax break designed to incentivize employers to hire people from groups who often face barriers to employment, such as the long-term unemployed, veterans, ex-felons and recipients of certain federal benefits.
“The Work Opportunity Tax Credit is a proven program that has long given veterans and vulnerable Americans the help they need to get back to work,” Rep. Tom Suozzi (D-N.Y.) said in a statement. “This expansion will make it even better and more effective!”
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Rep. Steven HorsfordSteven Alexander HorsfordDemocrats offer bill to encourage hiring of groups hard-hit by pandemic Lawmakers react to guilty verdict in Chauvin murder trial: ‘Our work is far from done’ Congressional Black Caucus members post selfie celebrating first WH visit in four years MORE (D-Nev.) said the bill “will make the largest difference for those hit the hardest by pandemic unemployment, including people of color, young workers, women, people with disabilities, veterans, and underserved communities.”
Currently, the work opportunity tax credit amount is 40 percent and is limited to the first $6,000 in wages per employee for one year for most types of eligible workers. The bill introduced Thursday would increase the credit amount to 50 percent for the first $10,000 in wages for two years for all eligible groups.
In addition to Suozzi and Horsford, other supporters of the bill include Democratic Reps. Don Beyer (Va.), Brad SchneiderBradley (Brad) Scott SchneiderDemocrats offer bill to encourage hiring of groups hard-hit by pandemic America’s Jewish communities are under attack — Here are 3 things Congress can do Lawmakers demand justice for Adam Toledo: ‘His hands were up. He was unarmed’ MORE (Ill.) and Gwen MooreGwen Sophia MooreDemocrats offer bill to encourage hiring of groups hard-hit by pandemic Shining a light on COINTELPRO’s dangerous legacy Lawmakers urge IRS to boost outreach about tax credits for low-income Americans MORE (Wis.), who all serve on the Ways and Means Committee. The panel has jurisdiction over taxes and is poised to play a key role in crafting legislation based on President BidenJoe BidenTrump slams ‘weak’ Republicans who don’t want to talk about Arizona audit FDA advises against Chinese-made syringes citing safety issues On The Money: Biden tries to navigate bumpy recovery | Jobless claims hit another post-pandemic low | Treasury calls for 15 percent minimum global tax MORE’s economic recovery proposals.
The bill is also supported by outside groups like the International Franchise Association, National Restaurant Association and American Health Care Association.