As the country continues to grind through the COVID-19 pandemic, states have been looking for ways to help businesses impacted by the unprecedented economic downturn. In addition to the incentives offered by the Federal government, several states have acted on their own either by authorizing new, COVID specific incentives, amending existing programs or by working within the confines of the existing rules and regulations of some programs.
Despite the size of the veteran workforce, tapping into the population has proved to be a challenge for many non-governmental employers. In 2012, to address the challenges faced by Gulf War-era II Veterans, Congress passed the Vow to Hire Hero’s Act, which expanded the Work Opportunity Tax Credit (“WOTC”) with the addition of four new, veteran-specific categories. The WOTC was created in 1996 to provide a federal tax credit to employers that hire individuals from specific target groups. People from these target groups have been identified by the U.S. government as having historically high unemployment rates. By many measures, the WOTC has been a success and continues to have bi-partisan support in Congress.