Washington, D.C. – Today, on the anniversary of the 2011 VOW to Hire Heroes Act, Congresswoman Julia Brownley (D-Westlake Village) urged Congress to continue supporting our veterans by passing the VOW to Hire Heroes Extension Act (H.R. 3395).
“Helping our veterans find good-paying jobs and connecting them to businesses willing to hire and train them is the right thing to do,” said Congresswoman Brownley.
Introduced by Congresswoman Brownley on October 31, the VOW to Hire Heroes Extension Act would expand and extend the work opportunity tax credit (WOTC) for hiring qualified veterans through December 31, 2016. Additionally, it would allow qualified tax-exempt organizations to make a credit available against payroll taxes for hiring a veteran.
By providing a tax credit for businesses to hire unemployed and service-connected disabled veterans, the WOTC incentivizes workplace diversity, facilitates access to good jobs for veterans, helps veterans move towards self-sufficiency, and allows participating employers to reduce their income tax liability. Under the WOTC, employers claim about $1 billion in tax credits each year, making the tax credit a win-win for both business and veterans.
The WOTC is a Federal tax credit available to employers who hire and retain individuals from certain target groups who have consistently faced significant barriers to employment – including unemployed and service-connected disabled veterans.
The Senate companion bill (S. 1624) was introduced by Senator Blumenthal.