Plain English
GovGreed Synthesis ·
Amends IRC Section 51 to increase the work opportunity tax credit for qualified veterans to 50% of qualified first-year wages (previously 40% for other groups), raises the wage limitations taken into account from $12,000/$14,000/$24,000 to $18,000/$21,000/$36,000, makes conforming adjustments for short employment periods, and applies to individuals beginning work after enactment.
Market Impact Map
Action Timeline
2025-04-09
Referred to the House Committee on Ways and Means.
2025-04-09
Introduced in House
2025-04-09
Introduced in House
Full Bill Text
119 HR 2801 IH: Honor and Hire Veterans Act of 2025 U.S. House of Representatives 2025-04-09 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 2801 IN THE HOUSE OF REPRESENTATIVES April 9, 2025 Mr. Vasquez introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow an increased work opportunity credit with respect to veterans, and for other purposes. 1. Short title This Act may be cited as the Honor and Hire Veterans Act of 2025 . 2. Work opportunity credit for veterans (a) In general Section 51(a) of the Internal Revenue Code of 1986 is amended by striking equal to and all that follows and inserting the following: equal to— (1) in the case of a qualified veteran, 50 percent of the qualified first-year wages for such year, and (2) in all other cases, 40 percent of the qualified first-year wages for such year. . (b) Increased limitation on wages taken into account for veterans Section 51(b)(3) of such Code is amended— (1) by striking $12,000 and inserting $18,000 , (2) by striking $14,000 and inserting $21,000 , and (3) by striking $24,000 and inserting $36,000 . (c) Conforming amendments relating to individuals not meeting minimum employment periods Section 51(i)(3)(A) of such Code is amended by striking employer and all that follows and inserting the following: employer— (i) subsection (a)(1) shall be applied by substituting 25 percent for 50 percent , and (ii) subsection (a)(2) shall be applied by substituting 25 percent for 40 percent . . (d) Effective date The amendments made by this section shall apply to individuals who begin work for the employer after the date of the enactment of this Act.
Loading intelligence layer…