We are pleased to announce that, early this morning, the House Rules Committee issued a Rule and manager’s amendment to H.R. 1865 “Further Consolidated Appropriations Act, 2020.” The amendment grants the extension for the Work Opportunity Tax Credit (WOTC), including VOW to Hire Heroes Act Credits, through December 31, 2020. It also grants a retroactive extension of the Federal Empowerment Zones and Indian Employment Credit through the end of 2020.
We are reasonably certain this amendment was mutually agreed on by the House and Senate tax writers. Therefore, when H.R. 1865 passes the House and goes to the Senate tax writers, it is expected to pass and be sent to the President for signature in the coming days.
Walton remains committed to continuing to lobby for a permanent extension of WOTC on behalf of the companies we represent. Though for the time being, we celebrate the fact that this important renewal of WOTC prevents the program from entering into a hiatus and allows employers to continue to earn valuable tax credits for hiring individuals that face barriers to secure employment.
We’ll be sure to keep you abreast on next steps as this important legislation becomes enacted.