Max Baucus: “the tax provisions included in this bill would help small businesses to succeed. These provisions would spur investment…”

“the tax provisions included in this bill would help small businesses to succeed. These provisions would spur investment and thus create jobs. They would provide greater opportunity for workers looking for a job. They all enjoy strong support. The bill helps businesses to provide jobs for workers who have experienced barriers to entering the workforce by extending and expanding the Work Opportunity Tax Credit, or WOTC. WOTC encourages businesses to hire workers who might not otherwise find work. WOTC allows employers a tax credit for wages that they pay to economically disadvantaged employees. WOTC has been remarkably successful. By reducing expenditures on public assistance, WOTC is highly cost-effective. The business community is highly supportive of these credits. Industries like retail and restaurants that hire many low-skill workers find it especially useful. The bill would extend WOTC for more than 3 years, and the bill would increase and expand the credit for employers who hire disabled veterans. The bill would also expand the credit to make it available to employers who hire people in counties that have suffered significant population losses. To carry out day-to-day activities, small business owners are often required to invest significant amounts of money in depreciable property, such as machinery. The bill would help business owners to afford these large purchases for their businesses.”