Bill > S3265

This bill aims to improve and enhance the Work Opportunity Tax Credit (WOTC), a tax incentive for employers who hire individuals from certain targeted groups facing barriers to employment. The bill extends the WOTC program until December 31, 2030, and increases the tax credit from 40% to 50% of qualified first-year wages for eligible workers, with additional provisions for workers who complete at least 400 hours of service. The bill introduces an annual inflation adjustment for the wage amounts and expands credit calculations for specific groups like veterans, long-term family assistance recipients, and summer youth employees. Additionally, the bill removes the age limit for Supplemental Nutrition Assistance Program (SNAP) benefit recipients and adds military spouses as a new targeted group eligible for the tax credit. A new provision also requires federal agencies to promote hiring from targeted groups across critical industries such as manufacturing, infrastructure, energy, healthcare, and construction. The changes are designed to make the WOTC more effective as a hiring incentive and encourage longer-term employment for workers facing employment challenges.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/3265/all-info