Tom Reed Introduces Permanent WOTC Renewal Bill
Tom Reed (R-NY) has introduced H.R.2754 to amend the Internal Revenue Code of 1986 to make the Work Opportunity Tax Credit (WOTC) permanent. While the text of the bill is not yet available, Mr. Reed and his co-sponsor, Charles Rangel (D-NY) sent a “Dear Colleague” letter to Congress imploring them to co-sponsor this important bill.
Says the letter:
Congress enacted WOTC to encourage private employers to hire individuals on public assistance who face barriers to employment. WOTC encourages employers to hire disabled, unemployed, and food stamp-dependent veterans, including veterans who were made eligible through the VOW to Hire Heroes Act of 2011. Employers have embraced WOTC because it helps offset the costs of hiring and training eligible individuals who, given the opportunity and attention, often become valued employees.
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