Bill > S5370

This bill aims to improve and enhance the Work Opportunity Tax Credit (WOTC), a tax credit for employers who hire individuals from certain targeted groups. The key provisions of the bill include: 1. Increasing the tax credit percentage from 40% to 50% for the first $6,000 in qualified wages, and an additional 50% credit for the next $6,000 in qualified wages for employees who have performed at least 400 hours of service. 2. Increasing the maximum qualified wages for certain veterans, ranging from $12,000 to $48,000 depending on the veteran's status. 3. Modifying the treatment of summer youth employees and long-term family assistance recipients to provide more favorable credit calculations. 4. Removing the age limit for Supplemental Nutrition Assistance Program (SNAP) recipients to be eligible for the WOTC. The amendments made by this bill are intended to make the WOTC more effective as a hiring incentive for employers to target and retain workers from various disadvantaged groups.