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Veterans Back to Work Act of 2019
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.
Read the Full Bill
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
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5250
Primary Policy Focus
TaxationPotential 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
Comments
Sponsors and Cosponsors of HR 5250
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