Search Results for keywords:"hiring incentive"

Search Results: keywords:"hiring incentive"

H. R. 6833 — To amend the Internal Revenue Code of 1986 to improve and enhance the work opportunity tax credit, to encourage longer-service employment, and to modernize the credit to make it more effective as a hiring incentive for targeted workers, and for other purposes.
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December 14, 2023
Status:Introduced in House
Congress:118
Words:1,146
H.R. 6833 seeks to revise the Internal Revenue Code to enhance the work opportunity tax credit, which aims to provide incentives for hiring specific groups of people. The bill proposes to increase the percentage of wages that can be claimed for this credit, especially for people who work...
Simple Explanation
The bill wants to change how businesses get rewards for hiring certain people, like veterans or those getting special help, by giving them more money back if they do. It's like saying, "If you hire someone who really needs a job and they work longer, you get a bigger thank you from the government."
S. 5370 — To amend the Internal Revenue Code of 1986 to improve and enhance the work opportunity tax credit, to encourage longer-service employment, and to modernize the credit to make it more effective as a hiring incentive for targeted workers, and for other purposes.
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November 21, 2024
Status:Introduced in Senate
Congress:118
Words:1,134
The bill, S. 5370, aims to update the Internal Revenue Code to improve the work opportunity tax credit, which businesses can use to lower their taxes if they hire targeted employees. It proposes increasing the percentage of first-year wages that can be claimed, especially for...
Simple Explanation
The bill is like a plan to help people get more jobs by giving businesses a bigger reward when they hire certain groups of people, like veterans or those getting food help. It also wants to help people stay in their jobs for longer to earn even more rewards, starting from the year 2025.

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