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HR 7998

To amend the Internal Revenue Code of 1986 to extend and expand the work opportunity tax credit

In Committeetaxes

Progress

Timeline

  • Mar 19Referred to the House Committee on Ways and Means.

Summary

**HR 7998 Summary:** This bill would change tax rules to expand a program that gives employers tax credits for hiring certain groups of people who face barriers to employment. **What it does:** Extends and expands the Work Opportunity Tax Credit, which reduces the taxes businesses owe when they hire from specific categories of workers. **Who it affects:** - Employers who hire eligible workers (they get larger tax breaks) - Job seekers in targeted groups like veterans, ex-offenders, long-term unemployed, SNAP recipients, and others facing employment challenges **What would change:** - The program would continue longer than currently scheduled - More types of workers might become eligible for the credit - Employers could receive bigger tax reductions for qualifying hires - This could encourage more businesses to hire people from these groups **Current status:** The bill is still being reviewed in congressional committee and has not been voted on yet.

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