Bustos Continues Push To Reauthorize Tax Credits That Put Veterans Back To Work
Today, continuing her push to put veterans back to work, Congresswoman Cheri Bustos (IL-17) urged the Senate Finance Committee to include two tax credits for businesses that prioritize hiring veterans in upcoming tax-credit extender legislation.
“The unemployment rate for our veterans remains far too high,” said Bustos. “Democrats and Republicans should work together to renew these job-creation tax credits that help put our veterans to work and provide our businesses with talented, skilled and dedicated workers.”
In December, with input from her week-long “Standing up for our Veterans” tour across Illinois’ 17th District, Bustos introduced the Jobs for Heroes Act. This bill would extend and expand two federal business tax credits designed to spur veteran employment. Because Congress failed to act, these federal tax credits expired at the end of December, but can still be restored retroactively. Recent reports indicate the Senate Finance Committee will soon unveil legislation to restore tax credits that expired at the end of last year.
Bustos’ letter to the Senate Committee on Finance Chairman Ron Wyden and Ranking Member Orrin Hatch is below and HERE.
March 28, 2014
Dear Chairman Wyden and Ranking Member Hatch:
I am writing regarding recent reports that the Senate Committee on Finance plans to markup a tax extenders package in early April. I urge the Committee to include both the Work Opportunity Tax Credit (WOTC) and the Employer Wage Credit (EWC) in this bill for employees who are active duty members of the uniformed services.
Last year I introduced H.R. 3649, the Jobs for Heroes Act, which extends and expands both of these tax credits. The WOTC promotes hiring veterans and service members who have traditionally faced significant barriers to employment, while also allowing employers to reduce their income tax liability. Additionally, the EWC encourages businesses to continue to provide differential pay to our National Guard members or Reservists who have been called up to active duty.
On behalf of all the heroes who have risked their lives to protect our freedoms, I thank you in advance for your consideration of this important request.
Member of Congress