Bill > S2494

This bill amends the Internal Revenue Code to expand the Work Opportunity Tax Credit (WOTC), a federal tax credit that incentivizes employers to hire individuals from certain target groups facing barriers to employment. Specifically, the bill adds a new category of veterans who are receiving educational assistance through various federal programs, including chapters 30, 31, 32, 33, and 34 of title 38 and chapters 1606 and 1607 of title 10 of the United States Code. By doing so, employers who hire veterans participating in these educational assistance programs will be eligible for the tax credit. The bill also modifies the minimum employment period requirement for this specific category of veterans, potentially making it easier for employers to qualify for the tax credit. These amendments would apply to individuals who begin work for an employer after the date of the Act's enactment, effectively encouraging employers to hire student veterans by providing a financial incentive through reduced tax liability.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2494/all-info