Veterans Back to Work Act of 2019

House Bill 5250 - Veterans Back to Work Act of 2019: Overview, Status, and Impact

Hozzl · 2022-10-28T01:46:10Z

Explore the details of House Bill 5250 Veterans Back to Work Act of 2019 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

10/28/2022, 1:46 AM

Congressional Summary of HR 5250

Veterans Back to Work Act of 2019

This bill amends the Internal Revenue Code to (1) make permanent the work opportunity tax credit for hiring qualified veterans (veterans receiving compensation for a service-connected disability and other federal assistance); and (2) allow employers who hire qualified veterans to elect to claim the tax credit as an exemption from employment and railroad retirement taxes for such veterans' first-year wages, subject to specified limitations.

The bill appropriates amounts to the Social Security trust funds and the Social Security Equivalent Benefit Account to cover any revenue loss to such funds resulting from this bill.

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Current Status of Bill HR 5250

Bill HR 5250 is currently in the status of Bill Introduced since November 21, 2019. Bill HR 5250 was introduced during Congress 116 and was introduced to the House on November 21, 2019. Bill HR 5250's most recent activity was Sponsor introductory remarks on measure. (CR H10028) as of December 11, 2019

Bipartisan Support of Bill HR 5250

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 5250

Primary Policy Focus

Taxation

Potential Impact Areas

- Appropriations

- Disability and paralysis

- Employee hiring

- Employment taxes

- Government trust funds

- Income tax credits

- Veterans' education, employment, rehabilitation

Alternate Title(s) of Bill HR 5250

Veterans Back to Work Act of 2019

To amend the Internal Revenue Code of 1986 to make permanent the work opportunity tax credit for veterans and to allow an exemption from an employer's employment taxes in an amount equivalent to the value of such credit in the case of veterans.

Veterans Back to Work Act of 2019