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Tax Credits for Businesses Hiring Ready Reserve and National Guard

This act introduces new tax credits for small businesses that hire individuals from the Ready Reserve or National Guard. The goal is to encourage employers to hire these individuals, potentially improving their job prospects. Additionally, this credit becomes permanent for veterans and reserve members, providing long-term support.
Key points
Small businesses can receive a tax credit for hiring members of the Ready Reserve or National Guard.
The tax credit for hiring qualified veterans and reserve members becomes permanent, with no expiration date.
The provisions also cover individuals already employed when the act takes effect, meaning immediate benefits for businesses.
The act includes provisions for payments to U.S. possessions to ensure they receive similar tax benefits.
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Additional Information
Print number: 118_HR_10146
Sponsor: Del. Plaskett, Stacey E. [D-VI-At Large]
Process start date: 2024-11-15