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.