The bill S. 492 seeks to amend the Internal Revenue Code to improve the work opportunity tax credit. It aims to increase the percentage of first-year wages covered by this credit from 40% to 50% for most employees and includes higher wage limits for qualified veterans....
Simple Explanation
S. 492 is a bill that aims to give businesses more money back when they hire certain people who might have a harder time finding jobs, like veterans, by changing how much of their wages the businesses can count for tax breaks, hoping this will encourage more companies to hire these workers.