1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web96-356 EUpdated April 2, 1998The Work Opportunity Tax Credit: A Fact SheetLinda LevineSpecialist in Labor EconomicsEconomics DivisionThe 104 Congress replaced the Targeted Jobs Tax Credit (TJTC,
2、1978-1994) withththe Work Opportunity Tax Credit (WOTC) in section 1201 of the Small Business JobProtection Act of 1996 (P.L. 104-188). The temporary credit was to have been effectivefor one year (October 1, 1996 through September 30, 1997). WOTC would have expiredon October 1, 1997 had the 105 Cong
3、ress not reauthorized it in the Taxpayer Relief Actthof 1997 (P.L. 105-34).P.L. 105-34 extended WOTC for 9 months through June 30, 1998. It also madesome modifications to the credit, chief among them shortening from 400 hours to 120hours the time that an eligible hire must remain on an employers pay
4、roll in order for thecredit to be claimed, changing the subsidy rate from 35%, and adding an eligible group(i.e., Supplemental Security Income recipients). These amendments apply to eligibleindividuals hired after September 30, 1997. (For information on legislative activity in thesecond session of t
升级VIP 