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Increased Tax Credits for Hiring Disadvantaged Workers

New rules boost tax credits for employers hiring individuals from specific groups, such as veterans or those receiving public assistance. This aims to encourage businesses to create job opportunities for those who might face employment challenges. The changes could lead to more job openings for people needing support.
Key points
Businesses can receive larger tax credits for hiring disadvantaged individuals, potentially increasing their job prospects.
The wage amounts eligible for the credit have been raised, meaning greater benefits for employers and potentially higher earnings for employees.
The age limit for SNAP (food assistance) recipients has been removed, expanding the group eligible for the credit.
Special rules are introduced for long-term family assistance recipients, offering credits for their longer-term employment.
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Additional Information
Print number: 118_HR_6833
Sponsor: Rep. Smucker, Lloyd [R-PA-11]
Process start date: 2023-12-14