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National Restaurant Association - Will Congress let a key tax credit die?

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Will Congress let a key tax credit die?

Restaurant advocates took to Capitol Hill on Wednesday to urge lawmakers to renew the Work Opportunity Tax Credit, which is important in helping restaurants offset the cost of hiring and training individuals who are among those most in need of opportunity.

The WOTC has helped restaurants and other employers hire more than 6 million people since it was created in 1996. But the WOTC expired at the end of 2013, and efforts to renew it have stalled.

Renewing and permanently extending the WOTC is one of the NRA’s top tax priorities. Permanent extension of the WOTC would give businesses certainty about how they’ll be taxed and give them incentive to hire more employees.

Congress can still take action, but with only a few weeks of legislative sessions left on the 2014 calendar, they’ll have to move quickly. Bipartisan legislation introduced last month by Reps. Charles Rangel (D-N.Y.) and Aaron Schock (R-Ill.) would renew the WOTC and make it permanent. The NRA supports the legislation and is asking restaurant operators and other professionals to contact their House members and urge them to support the legislation.

Tell Congress to act now to make the Work Opportunity Tax Credit permanent!

The tax savings from the WOTC can be substantial, ranging from $2,400 to $5,600 per employee, plus additional credits for retaining employees, when they hire individuals from these target groups:

  • Veterans who have recently been released or discharged from active duty.
  • Families who have received benefits through the Temporary Assistance for Needy Families program or Supplemental Nutritional Assistance Program.
  • Youths 16 or 17 years old who live in a designated federal Empowerment Zone.
  • Individuals with disabilities who have completed or are about to complete rehabilitative services through a state-certified agency, an employment network under the Social Security Administration’s Ticket to Work program, or the U.S Department of Veteran Affairs.
  • Recipients of Supplemental Security Income who have received benefits during the 60 days prior to their hiring date.
  • Ex-felons who are hired within a year of conviction or release from prison.

NRA advocacy staff met with a bipartisan group of House members on Wednesday to urge action on WOTC renewal, including Reps. Richard Neal (D-Mass.), Ron Kind (D-Wis.), Lynn Jenkins (R-Kan.), Charles Boustany (R-La.), Pat Tiberi (R-Ohio), and Jim McDermott (D-Wash.).

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