Rep. Gus Bilirakis Introduces Two Bills to Provide Incentives for Business to Hire Reservists
February 11, 2007
Legislation provides tax breaks for time lost due to service
February 12, 2007
Washington, D.C. - Delivering on his promise to be a strong advocate for Members of the Armed Services and veterans, Rep. Gus M. Bilirakis (R-Palm Harbor) introduced two pieces of legislation that provide tax incentives to businesses for hiring Reservists and Members of the National Guard.
H.R. 843 provides employers with a tax credit of 50% for any compensation paid to employees who are serving on active duty. H.R. 844 provides employers with a tax credit of 10% for value of the service not performed during the period employees are performing service as members of the Ready Reserve or the National Guard. Each of these bills caps the maximum total credit per employee per year at $2,000.
"I have always been an ardent supporter of the brave men and women that answer our nation's call to join the armed services. Because of this, I am proud to introduce H.R. 843 and H.R. 844, which provide tax incentives for businesses to hire members of the Ready Reserve or National Guard," Rep. Bilirakis said.
"The people that sacrifice so much to support the country they love should not be penalized with regard to employment. I understand that for many small businesses the burden of hiring someone that may be out for extended periods can be tough and strain resources, but I believe this ten percent credit, up to $2,000, per Reservist or National Guardsmen per year helps off-set the added costs and burdens," Bilirakis added.