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Disability Employment Incentive Act
12/7/2023, 5:06 PM
Summary of Bill S 3076
The bill proposes several key measures to achieve this goal. First, it would offer tax credits to businesses that hire individuals with disabilities. These tax credits would help offset the costs associated with accommodating and training these employees.
Additionally, the bill would establish a grant program to provide funding for businesses to make their workplaces more accessible to individuals with disabilities. This could include things like installing ramps, widening doorways, or purchasing specialized equipment. Furthermore, the bill aims to increase awareness and education around hiring individuals with disabilities. It would require businesses to participate in training programs to learn about the benefits of hiring individuals with disabilities and how to create an inclusive work environment. Overall, the Disability Employment Incentive Act seeks to promote greater employment opportunities for individuals with disabilities and create a more inclusive workforce. It is currently being debated in Congress, with supporters arguing that it will benefit both businesses and individuals with disabilities.
Congressional Summary of S 3076
Disability Employment Incentive Act
This bill expands tax credits and deductions that are available for employers who hire and retain employees with disabilities.
The bill expands the work opportunity tax credit to include the hiring of employees who receive disability insurance benefits under the Social Security Act. For employers who hire vocational rehabilitation referrals, Supplemental Security Income recipients, or Social Security Disability Insurance (SSDI) recipients, the bill (1) increases the amount of wages that may be taken into account for the credit, and (2) allows an additional credit for second-year wages.
With respect to the tax credit for expenditures by eligible small businesses to provide access to disabled individuals, the bill (1) increases the limits that apply to the amount of expenditures that are eligible for the credit, and (2) modifies the gross receipts and full-time employee eligibility criteria for such businesses.
The bill also expands the tax deduction for expenditures to remove architectural and transportation barriers to the handicapped and elderly. The bill modifies the deduction to (1) increase the limitation on the amount of the deduction, and (2) include expenses for certain improvements in the accessibility of internet or telecommunications services to handicapped and elderly individuals.
