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Rep. Gus Bilirakis Introduces Two Bills to Provide Incentives for Business to Hire Reservists |
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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.
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