Department of Labor Publishes Report on Work Opportunity Tax Credit

The U.S. Department of Labor (DOL) has published a report summarizing the Work Opportunity Tax Credit (WOTC) wages and occupational data for FY 2013 and 2014, and for the first half of FY 2015. This tax incentive is intended for federal employers who hire and retain individuals who traditionally face barriers to employment, including people with disabilities and veterans. The information spans across national, state, as well as regional lines. For more information, please visit http://www.doleta.gov/business/incentives/opptax/.

Senate Finance Committee votes to extend Work Opportunity Tax Credit

The Senate Finance Committee marked up draft legislation, the Family and Business Tax Cut Certainty Act of 2012, to extend a variety of expiring tax provisions. Among other provisions, the bill contains a two-year retroactive extension of the Work Opportunity Tax Credit (WOTC), with no changes to the program, through December 31, 2013. The WOTC is a Federal tax credit for employers that hire workers from certain target groups who have consistently faced significant barriers to employment. WOTC target groups include beneficiaries of Supplemental Security Income, persons referred from Vocational Rehabilitation, and veterans with disabilities. Visit the Committee web site for more information about the bill and Committee mark up.

Rebuild America Act Introduced in House

Rep. Rosa DeLauro (D-CT) introduced H.R. 5727, the Rebuild America Act of 2012. This is a companion to S. 2252, introduced in April by Sen. Tom Harkin (D-IA). The bill seeks to improve the employment and economic security of America’s middle class. Among its many provisions, the bill proposes to strengthen Social Security through a balanced approach that advances solvency of the Social Security Trust Funds while also enhancing the benefit calculation formula and annual cost-of-living adjustments for all Social Security programs, including Supplemental Security Income. The bill also proposes to extend the Work Opportunity Tax Credit (WOTC) program through 2015 and to expand and increase the WOTC for workers with disabilities. The Arc supports these two provisions. The bill was referred to multiple House Committees.

Rebuild America Act Introduced

Senator Harkin (D-IA) introduced S. 2252, the Rebuild America Act of 2012. The bill seeks to improve the employment and economic security of America’s middle class. Among its many provisions, the bill proposes to strengthen Social Security through a balanced approach that advances solvency of the Social Security Trust Funds while also enhancing the benefit calculation formula and annual cost-of-living adjustments for all Social Security programs, including Supplemental Security Income. The bill also proposes to extend the Work Opportunity Tax Credit (WOTC) program through 2015 and to expand and increase the WOTC for workers with disabilities. The Arc supports these two provisions. The bill was referred to the Committee on Finance.