Today, the U.S. House of Representatives is expected to vote on (and pass) HR 5771– the Tax Increase Prevention Act of 2014. This will be Congress’ first solid step in some time toward passage of tax extenders. HOWEVER, in its current form the bill’s provisions fall short of expectations.
HR 5771 provides for a ONE-YEAR retroactive extension. That means that if the bill were also passed by the Senate without amendment, WOTC and other tax extenders would expire again on December 31, 2014 – just 28 days from now.
Fortunately, the Senate already has shown broad bipartisan support for the EXPIRE Act, which provides a 2-year retroactive extension. The EXPIRE Act additionally would expand WOTC eligibility to include workers who have been unemployed long-term.
The WOTC Coalition, is urging coalition members and other interested parties to lobby their Senators. Ask them to amend HR 5771 with the language of the EXPIRE Act when the bill arrives from the House.