The Center of the California Enterprise Zone Information Universe

President Obama Will Promote Expansion of WOTC

President Obama just delivered a speech today at the Washington Navy Yard to discuss policies that will help returning military veterans enter the job force. One of his proposals is an expansion of WOTC:

The Wounded Warrior Tax Credit will double the existing tax credit for long-term unemployed veterans with service-connected disabilities.

Maintain the existing Work Opportunity Tax Credit for veterans with service-connected disabilities (currently the maximum is $4,800).

A new credit of 40 percent of the first $24,000 of wages (up to $9,600) for firms that hire veterans with service-connected disabilities who have been unemployed longer than 6 months.

The paperwork process for claiming these credits will be simplified by streamlining the burdensome certification that firms had to undertake to claim previous credits

Follow maxshenker on Twitter

Receive By Email

Enter your email address and receive the EZ Policy Blog by email.