Companies could get permanent tax credits for hiring veterans if bill passes
Companies that hire veterans already get some tax breaks from the government. But a newly introduced bill would permanently extend those tax credits, and allow some tax-exempt organizations to get extra credits for hiring vets.
Rep. Julia Brownley, D-Calif., recently introduced the VOW to Hire Heroes Extension Act. The bill permanently extends the work opportunity tax credit (WOTC) for companies that hire veterans and also would allow qualified tax-exempt organizations to receive a tax credit against payroll taxes for hiring a veteran.
This isn’t the first time the bill has been introduced to Congress. Brownley also introduced it in 2013.
The bill would provide incentives for companies and organizations to hire unemployed and service-connected disabled veterans and could provide more and better opportunities for those veterans, Brownley said in the announcement of the legislation.
“When our nation’s heroes return from service, we must ensure they have access to the resources they need to successfully transition into the job market and support themselves and their families,” Brownley said. “The VOW to Hire Heroes Extension Act of 2019 would help unemployed and service-connected disabled veterans find good-paying jobs and encourage businesses to hire these veterans. This is a win-win for veterans and businesses alike, and I look forward to working with my colleagues in Congress to move this bill forward through the legislative process.”