Our mission is to drive job growth through tax innovation.
HIRE is dedicated to supporting innovative policies that help employers:
- Hire individuals facing barriers to employment.
- Invest in their workforce through benefits including paid family leave and child care.
- Retain and train employees.
- Expand their footprint in the USA.
We support legislation and/or administrative policies that would enhance programs such as:
- Work Opportunity Tax Credit (IRC § 51)
- Federal Empowerment Zone Credit (IRC § 1396)
- Paid Family and Medical Leave Credit (IRC § 45S)
- Employer-provided Child Care Credit (IRC § 45F)
- Employee Retention Credits (off-Code provisions)
2025 Agenda
In 2025, Congress will work towards the reauthorization of the Work Opportunity Tax Credit, the Paid Family and Medical Leave Credit, and the Federal Empowerment Zone Credit. The total value of these credits expiring in 2025 is estimated at ~ $21.4 Billion1:
- Work Opportunity Tax Credit:≈ $16.2 billion
- Federal Empowerment Zone Credit:≈ $1.4 billion
- Paid Family and Medical Leave Credit:≈ $3.8 billion
These expiring credits, along with the child care credit, need to be enhanced in order to achieve their policy goals. Furthermore, the administration of these credits - including guidance, processes, and forms - require continued attention to maximize value, encourage employer participation, and reduce administrative burden.
The HIRE Coalition will work with our members, tax practitioners, the business community, and other non-profit organizations to develop and present to legislative and administrative policy makers commonsense and cost-effective policies that will help increase tax certainty, reduce administrative burdens, and improve access among small businesses for each of these tax credit programs.
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1Based on estimates in Joint Committee on Taxation, Estimated Budget Effects of the “Consolidated Appropriations Act, 2021,” December 31, 2020.