One-Year Extension of Work Opportunity Tax Credit Is Only a Start



The
end-of-year spending and tax extension package the House approved Dec. 17, with Senate passage expected by Dec. 20, extends the
Work Opportunity Tax Credit (WOTC) through the end of 2020. If the credit had been allowed to expire at the end of 2019, employers would have lost an incentive to hire disadvantaged employees. But passing legislation to make the WOTC permanent is still needed, supporters of the credit say.

Enacted in 1996 and extended multiple times, the WOTC is a federal tax credit available to employers that hire and retain individuals from certain
groups that have consistently faced significant employment barriers. About $1 billion in tax credits are claimed each year under the WOTC program, according to the Department…





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Credit to Stephen Miller, CEBS for the original post.

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