NEWS

Congressmen Reed And Rangel Introduce Bi-Partisan Bill To Make WOTC Permanent

By admin • 01 July 2015 •

The following comes from Paul E. Suplizio, President of the WOTC Coalition:

Two leading members of the House Ways and Means Committee who have spearheaded our campaign for permanent WOTC in the House have introduced a bill to make WOTC permanent. 

The bill, H.R. 2754, titled, “To amend the Internal Revenue Code of 1986 to make the work opportunity credit permanent” was introduced by Republican Congressman Tom Reed and Democratic Congressman Charles Rangel.

Bill Signer, of National Employment Opportunities Network (NEON), worked directly with the congressmen to get the job done. 

Ways and Means Chairman Paul Ryan has taken note of the bill but made no endorsement, still it’s presented to him for decision now by two valued members of his committee. 

“WOTC is a lifeline for the young who face challenges finding work—youth in poor families, our young returning veterans, and each year’s cohort of special needs students with disabilities.  For these youth, WOTC is an investment in productive lives and stronger future generations.  Some critics say these workers would have been hired anyway, but for every poor individual, disabled person, or veteran there are far more “others” to choose from, and unemployment rates show “others” are getting the jobs.  WOTC gives employers an incentive to hire someone they would not have hired anyway, and because employers want to minimize taxes, it’s a highly effective incentive. 

“Some critics say WOTC is a special benefit to employers and wasteful spending.  But consider the recent evidence in Baltimore and Ferguson of people stuck in poverty with a large drain on state and federal funds for housing, health, nutrition and other programs providing income support year after year.  By contrast, WOTC is producing an exit from poverty for 1.3 million persons a year, and any dynamic scoring of its savings compared to cost will show it more than pays for itself.

“Recent Labor Department data for FY 2013, when 1.6 million workers were certified for WOTC, shows they worked in all major sectors of the economy—about half in retail and office jobs, 27 percent in manufacturing and construction and only 17 percent in food service. To reach the Ways and Means Chairman’s goal of “work as a condition for receipt of benefits” the jobs credit is a proven efficient, market-oriented, solution that has served the nation well for more than three decades since President Reagan introduced it in his first major bill, the Economic Recovery Tax Act of 1981, and it should be made permanent.”

SHARE Tweet about this on TwitterShare on FacebookShare on Google+Email this to someone

Comments are closed.

GET STARTED

 Please add me to the TaxBreak mailing list

Contact a TaxBreak consultant today for a free tax credit analysis
Get Started Now! 1.800.992.0163

CONTACT US
Live Chat