Congressman Tom Reed is working across the aisle with New York Democrat Joe Crowley to introduce a bill that would make permanent the Work Opportunity Tax Credit. Reed says the tax credit is a provision of the existing tax law that is on a temporary basis and is set to expire in 2019. He tells us what the tax credit is about.
Congressman Reed says the temporary policy has been around since 1996.
Under the exisiting law, the maximum tax credit a business earns depends on the wages paid to the new hire, that new hire’s target group and the number of hours worked during the first year of employment.