WASHINGTON — The Tire Industry Association (TIA) is urging its members to contact their elected federal lawmakers to support legislation to make permanent a tax credit important to tire dealers and other small businesses.
Ohio's two senators — Republican Rob Portman and Democrat Sherrod Brown — have introduced the Work Opportunity Tax Credit & Jobs Act to give permanent status to the Work Opportunity Tax Credit (WOTC).
The WOTC, which TIA has long supported, will expire on Dec. 31 if it is not renewed.
The WOTC provides employers a tax credit of between $1,200 and $9,600 for every employee who is hired from designated groups that have a difficult time finding work or often are out of the labor force altogether, according to a communique from Mr. Brown's office.
These groups include veterans, the disabled, ex-convicts, the long-term unemployed, summer youth employees, and recipients of various government assistance programs.
"Hard work doesn't pay off like it used to, with too many workers trying but struggling to get ahead," Mr. Brown said. "People can and want to contribute to their communities, and they deserve a fair shot. The WOTC provides that opportunity, and awards companies for investing in their greatest asset — the American worker."