Rep. Lloyd Smucker (PA-11) has introduced the bipartisan Improve and Enhance the Work Opportunity Tax Credit Act, alongside Reps. Terri Sewell (AL-7), Brian Fitzpatrick (PA-1), Steven Horsford (NV-4), and Mike Kelly (PA-16). The legislation strengthens the Work Opportunity Tax Credit (WOTC), which has a proven track record of connecting disadvantaged individuals to employment and has...
House Republican Leaders are considering the introduction of an economic package designed in part to provide support in the form of tax relief primarily to small businesses and farmers, two groups that are a high priority for Ways and Means Committee Chairman Jason Smith (R-Missouri). The legislation is still in the drafting stage, and it...
The HEROES Act would make significant changes to the Employee Retention Tax Credit including: Increasing qualified wages to $15,000 per quarter for up to three quarters (maximum credible wages would be $45,000) up from the current $10,000; Increasing the percent of the credit to 80% from the current 50% (this would make the maximum credit...
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