H.R. 2213–will this bill become law, should it?“
For more than two decades, the Work Opportunity Tax Credit has proven to be highly effective in ensuring individuals on public assistance can make the transition to private sector jobs. In fact, since the program’s enactment, thirteen million people have benefitted, in turn reducing federal and state government spending,” said Chairman Thompson (D-CA).
“I have long advocated for the WOTC program to continue, as it is a proven tool to move eligible individuals off of unemployment and into the workforce,” said Rep. Pascrell (D-NJ).
“With more jobs available than those seeking employment across the country, we need to bring people from the sidelines of the economy into the workforce,” said Rep. Rice (R-SC). “Making the Work Opportunity Tax Credit permanent will incentivize employers to hire and retain people who have been struggling to find long-term, meaningful employment opportunities.”
“The Work Opportunity Tax Credit has long provided veterans and individuals from disadvantaged groups support in their search for sustainable employment,” said Rep. Suozzi (D-NY).
“We care about rewarding work and ensuring everyone has a fair shot to provide for themselves and their families,” said Rep. Reed (R-NY). “Providing incentives for employers to hire people stuck on the sidelines who have trouble finding a job is essential for many folks in their pursuit of the American dream.”
What is the real purpose of this bill, to help workers or to help employers? Or is it campaign material for the sponsors?
This is a short term program that has been around a long time. It gives employers tax credits up to about 4,000 for hiring certain employees who are hard to place. The employer must be hired for anywhere from 120 to 400 hours, so it is not permanent. The taxpayer basically pays wages to the employer to hire folks for short term labor. It is socialism for the employer. A short term solution to a long term problem.
It is a band aid on an economic system that does not work.
LikeLiked by 1 person
With unemployment low, justification for hiring incentives is weak; perhaps the “Work Opportunity Tax Credit” will be allowed to expire.