On the recordMay 22, 1996
Mr. Speaker, I am here to support not only the minimum wage bill, but also the work opportunity tax credit. This is a plain sense bill. It is part of the tax package. I would like to focus just the few seconds I have on the work opportunity tax credit. This is something, really, which makes sense, not only for the people who are to be hired, but also for the businesses. For the businesses, what it does is help those businesses that are going to be having an increase in the minimum wage to absorb the cost. As a matter of fact, if you hire an individual, the arithmetic works out that you, in terms of the total 2-year period which you will be hiring this individual and having him work in your establishment, that the cost will be less than the minimum wage is now because of the incentive which the Government gives. So it is a real incentive for businesses.
Source
govinfo.gov
