This bill, titled the "Honor and Hire Veterans Act of 2025," seeks to significantly enhance the Work Opportunity Tax Credit for employers who hire veterans. It amends the Internal Revenue Code of 1986 to provide a higher credit rate specifically for qualified veterans, aiming to incentivize their employment. Under the proposed changes, employers hiring qualified veterans would receive a credit equal to 50 percent of their qualified first-year wages, an increase from the standard 40 percent for other eligible groups. Furthermore, the bill substantially raises the maximum amount of qualified wages that can be taken into account for veterans, increasing limits such as from $12,000 to $18,000 , $14,000 to $21,000 , and $24,000 to $36,000 . These adjustments are designed to make hiring veterans more financially attractive for businesses, with the amendments applying to individuals who begin work after the bill's enactment.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Honor and Hire Veterans Act of 2025
USA119th CongressHR-2801| House
| Updated: 4/9/2025
This bill, titled the "Honor and Hire Veterans Act of 2025," seeks to significantly enhance the Work Opportunity Tax Credit for employers who hire veterans. It amends the Internal Revenue Code of 1986 to provide a higher credit rate specifically for qualified veterans, aiming to incentivize their employment. Under the proposed changes, employers hiring qualified veterans would receive a credit equal to 50 percent of their qualified first-year wages, an increase from the standard 40 percent for other eligible groups. Furthermore, the bill substantially raises the maximum amount of qualified wages that can be taken into account for veterans, increasing limits such as from $12,000 to $18,000 , $14,000 to $21,000 , and $24,000 to $36,000 . These adjustments are designed to make hiring veterans more financially attractive for businesses, with the amendments applying to individuals who begin work after the bill's enactment.