Very good news for advocates of extending the Work Opportunity Tax Credit (WOTC)! Another influential Republican has announced that she will co-sponsor H.R. 2082, the WOTC Improvement Act. H.R. 2082 proposes to extend WOTC for three years while making various improvements to the program.
According to the Bill Summary and Status published by the Library of Congress, H.R. 2082 currently has 24 cosponsors . . . including Congressman Dan Lungren, my Representative for California district 3. (more…)
Tag: Employee Retention Credit
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John Sandusky of Tax Incentive Group, LLC just brought this to my attention.
Congressman Pat Tiberi (R-OH), Chairman of the Subcommittee on Select Revenue Measures has announced a new hearing to consider HOW Congress should evaluate individual tax extender programs. Surprise! The hearing is today at 9:30 AM. (more…)PUBLISHED IN
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On Wednesday, the New York State Senate passed the 2012 NEW JOBS-NY Job Creation Plan, which must now go before the state Assembly for consideration. Among many other provisions, this plan would provide the following new hiring-based incentives. (more…)
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According to Paul Suplizio, President of the WOTC Coalition, the US House of Representatives’ recently announced summer legislative schedule sends a clear message about the intentions of the House Republican Leadership – no tax extenders until after the election. (more…)
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House Resolution 5845 was introduced by Congressman Ted Poe of Texas and referred to the House Ways and Means Committee last Friday (on May 18th). As of this afternoon, the actual text of the bill is not yet available. The title, however, is listed as
H.R.5845 – To amend the Internal Revenue Code of 1986 to extend the work opportunity tax credit for veterans and to allow an exemption from an employer’s employment taxes in an amount equivalent to the value of such credit.
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An article posted this afternoon on the CBS New’s Political Hotsheet confirmed again what most have expected: We should not anticipate cooperation in Congress on major tax questions before the November elections. (more…)
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In January, I mentioned that Minnesota’s Democrat Governor Mark Dayton was proposing state jobs tax credits to reward employers who hire veterans, unemployed workers, and recent graduates. During the intervening months, this ongoing story hit the news a surprising number of times . . . almost always in the context of budgeting disagreements between state Democrats and the Republican controlled Minnesota legislature. (more…)
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Congressman Aaron Schock (R-IL) a primary sponsor of HR 2082, the Work Opportunity Credit Improvement Act offered the following during his testimony on Thursday before the House’s Subcommittee on Select Revenue. If you would like to listen for yourself, Congressman’s Schock’s testimony begins at time stamp 1:08:58. These specific comments begin about two minutes later at timestamp 1:11:06. (more…)
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“Temporary tax provisions that are worthy should be made permanent.” So says, Congressman Pat Tiberi (R-OH), Chairman of the Subcommittee on Select Revenue in his opening remarks to last week’s subcommittee hearing on tax extenders. (more…)
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