NRA praises U.S. House for passing legislation that provides tax incentives to businesses that hire jobless veterans, says industry provides great opportunities for post-military culinary, management careers
November 17, 2011
– The National Restaurant Association today applauded members of the U.S. House of Representatives for passing legislation that would provide tax incentives to businesses, including restaurants, that hire jobless veterans.
By a vote of 422-0, the House today passed a measure that would offer a tax credit of up to $5,600 for hiring veterans who have been looking for a job for more than six months, as well as a $2,400 credit for veterans who are unemployed for more than four weeks, but less than six months. The measure also provides a tax credit of up to $9,600 for hiring veterans with service-connected disabilities who have been looking for a job for more than six months.
“As the second-largest private-sector employer, America’s restaurants provide 13 million jobs nationwide,” said Scott DeFife, Executive Vice President of Policy and Government Affairs for the National Restaurant Association. “Throughout the economic downturn, we have been one of the few industries that has continued growing, providing quality jobs that lead to fulfilling careers in our industry and others. The restaurant industry provides great opportunities for post-military culinary and management careers, as well as ownership opportunities, and with the right policies, such as small business tax assistance to hire unemployed veterans, we will be able to create even more jobs and provide greater opportunities to more Americans.”
The United States Senate last week unanimously approved the tax incentives measure. The legislation now moves to the President’s desk for his signature.
In addition, the National Restaurant Association has advocated for an extension of the Work Opportunity Tax Credit (WOTC), which offers employers a 40 percent credit against the first $6,000 in wages paid to employees from certain groups, including veterans. Last week, the Association led a coalition of 1,500 organizations and companies calling on Congress to extend several tax provisions, including WOTC, before they expire at the end of 2011. The Association has called these provisions “key incentives” that help spur economic growth, job creation, and job retention in the restaurant industry.
Founded in 1919, the National Restaurant Association is the leading business association for the restaurant industry, which comprises 960,000 restaurant and foodservice outlets and a workforce of nearly 13 million employees. Together with the National Restaurant Association Educational Foundation, the Association works to lead America’s restaurant industry into a new era of prosperity, prominence, and participation, enhancing the quality of life for all we serve. For more information, visit our Web site at www.restaurant.org.